Elderly couple studying agreement conditions before signing at home / old man / daughter / power of attorney / alzheimer's / dementia / money / savings / mortgage / pension / finances / financial advice / Picture: Getty Images/iStockphoto This content is subject to copyright. My father is showing the early signs of Alzheimer’s. How can I make sure he keeps control over his finances? Carl Lamb from Almary Green responds. Carl Lamb, managing director of Almary GreenMy father is becoming increasingly confused in his old age. How can we ensure that he is financially secure and still involved in his finances until he can no longer act for himself? He has been diagnosed with the early symptoms of Alzheimer’s. He has a significant portfolio of investments but has always kept details of these to himself.Response from Carl Lamb of Almary GreenI’m sorry to hear that your father is facing the prospect of Alzheimer’s.The very first thing to check is that he has a lasting … [Read more...] about Ask the Expert: My father has Alzheimer’s – how can we protect his finances for him?
Expert financial advice
I KNOW a doctor who treated a farmer recovering from a mild heart attack. The farmer wouldn't take exercise, because he reckoned we are born with a certain number of breaths allocated to us – and when you've run out of breaths, your time is up. And you can't argue with that.His financial adviser would add: you can't afford to run out of money, either. This is why our pensions are so important.However, it would appear that many of us are throwing away part of our pension savings in totally unnecessary and avoidable payments to the taxman.It reminds me of a very good question financial planners often ask their clients: “Do you love the taxman more than you love your own family?”A new report from Prudential tells us that one in 10 of those planning to retire this year intend to withdraw all their pension savings in one lump sum, rather than taking them in smaller amounts over several years.As a result, a fifth of those people (20 per cent) may incur avoidable tax bills … [Read more...] about Hug your financial advisor, not the taxman!
caption Ignore these money tips and you’ll regret it. source Darrian Traynor/Getty The best money advice is often the simplest. Among the most important: Pay yourself first, stay out of debt, and put your savings in the right place (not under your mattress). There’s so much financial advice out there that it’s near impossible to follow all of it. But missing the most important – and often most basic – words of wisdom could end up costing you big time. To help out, we combed through our archives to round up the best money advice from financial planners, bestselling authors, and one of the richest people in the world, that will help you save and earn the most money. Below, check out the 13 pieces of money advice you simply can’t afford to ignore: 1. Pay yourself first source Tinxi / Shutterstock.com “People still don’t grasp the fact that they need to save a dime out of … [Read more...] about 13 pieces of money advice you can’t afford to ignore
The “Your Financial GPS” in-app feature and NAV Hub are part of DBS Bank’s new financial planning initiative. DBS Bank DBS Bank recently announced a new in-app holistic digital financial advisor which it called “Your Financial GPS” – said to be the first of its kind in Singapore. If you’re a DBS/POSB Bank member and have recently used your iBanking or digibank app, you might have noticed the new feature already available on the app’s main page. In a statement on Tuesday (May 8), DBS said the feature is an extension of its financial planning initiative “NAV – Your Financial GPS”, aimed at helping customers “navigate through life’s changes, uncertainties and opportunities”. With the launch of “Your Financial GPS”, more than 2.5 million DBS/POSB customers would have received immediate access to the digital advisor, according to DBS. The digital advisor is integrated into customers’ … [Read more...] about DBS Bank rolls out Singapore’s first in-app digital financial advisor that’s called ‘Your Financial GPS’ – here’s what we know
Conventional wisdom about credit cards is often black and white, from whether you should use cards at all to which types deserve a slot in your wallet. But personal finance is just that — personal, experts say. “Financial advice is best when it is not one-size-fits-all,” said Bruce McClary, spokesman for the National Foundation for Credit Counseling. “Everybody is different in the way they set priorities and manage budget decisions, so it makes sense that some advice may not be a perfect fit for all people.” Credit card tips might be easier to understand when they’re binary — do this, don’t do that — but that advice usually doesn’t apply to everybody. In fact, some advice could hurt more than help. Here’s a sampling of conventional wisdom on credit cards and why it might not apply to you. ‘Never use credit cards’ Cardholders can get in trouble by charging too much, then paying finance charges. That downside … [Read more...] about When to ignore credit card advice