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Written by Singlife | 24 Mar 2021 |
#1: Brings discipline to your investments
Investing is like dieting. To stay healthy, we have to spend time and effort to watch what we eat and exercise regularly. Similarly, we invest in our financial health by putting a sum of money aside on a regular basis to grow our financial health consistently and for the long run.
For example, investing $100 into an investment vehicle that gives you 8% p.a. returns for the next 25 years can give you returns of over $50,000. This return is for illustration purpose only.
#2: Can be easily adjusted according to your financial situation and goals
Investing might seem complex or intimidating, but it doesn’t have to be. The portion of wealth that you set aside can start small, and should be an amount you are comfortable with. If you are expecting a big expense in the future (ie. securing your BTO), use goal-based investing to determine the amount you need to invest per month to get the returns you need when the expense arrives. Don’t worry if you have no clear or fixed financial goal yet—making small everyday changes to your lifestyle, such as opting for a cup of kopi-o in place of an iced black, and investing the savings from there for the month can be a good start. Every little bit counts!
#3: Requires minimal effort
In one of our previous articles, we discussed Dollar Cost Averaging (DCA). A simple concept, DCA explains how investing a fixed amount regularly helps to reduce the volatility felt in investing, and smoothens out your returns over time.
Some investment plans today allow you to enjoy the benefits of regular investing by simply automating the cash withdrawals and allocating them into your investment plans on a monthly basis. With this disciplined approach, you will be able to set aside money for investments with virtually no effort!
Experience how easy investing can be with Grow by Singlife
Singlife’s vision is to unlock the potential of money for everyone. Hence, we created an ecosystem of products that will allow you to do more with your money. While your Singlife Account policy gives you good returns, Grow – Singlife’s digital investment-linked plan(ILP) enables you to potentially maximise your investment returns. Learn more here.
To enjoy flexibility when it comes to investing, you may set up a Recurring Single Premium (RSP) contribution for your Grow policy from as little as S$100 monthly. You can easily request to increase or reduce your RSP contribution at any time. Sit back, relax, and watch your wealth grow with us!
Note that the performance for your Grow portfolio is not guaranteed and the value of the units and the income accrued to the units (if any) may fall or rise.
Grow is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the LIA or SDIC websites (www.lia.org.sg or www.sdic.org.sg). This advertisement has not been reviewed by the Monetary Authority of Singapore.