Financial Hacks: 8 Ways To A Financially-Secure Future With Joseph Tan and Associates
2019-06-28


#FinancialHacks: 8 Ways To A Financially-Secure Future With ACQUITY

Singapore's largest open-air wedding fair, the Blissful Outdoor Wedding Show (BOWS), was back for the second of its tri-annual instalment from 2nd to 4th May 2019.  

In line with its aim to be the one-stop wedding show, BOWS offered couples a series of educational seminars by industry experts, including financial advisor Joseph Tan(Financial Services Manager). Back for their 20th show and counting, Joseph's seminars are unsurprisingly a crowd-favourite with valuable insights and priceless tips on how to navigate the world of finances as a couple. 

#FinancialHacks: 8 Ways To A Financially-Secure Future With ACQUITY

If you've missed out on Joseph's talk this BOWS May 2019, we got you covered. For their latest seminar, the financial advisors from Joseph Tan and Associates dove into - for the first time - the eight initiatives of financial planning as well as the importance of consolidating finances as a couple. 

Contrary to popular belief, financial planning involves more than allocating an appropriate budget each month for the various aspects of life. According to the experts, there are eight initiatives of financial planning to keep in mind - cash, debt, insurance, investment, education, retirement, tax and estate

These initiatives are unavoidable financial matters that couples will face before, during and after the wedding. So in order to get your finances in check, consolidating both your finances and coordinating in line with these eight aspects is crucial. 

As explained by Joseph, consolidating your finances sets the stage for realistic expectations while leaving minimal room for assumptions or doubts on your other half's financial situation. Merging your finances as a couple also allows both of you to grow together in resources while forging a deeper sense of unity and partnership.  

While it is true that even within couples, money matters can be a sensitive topic, Joseph encouraged couples to work with a single advisor together instead of having separate financial advisors of your own. 

This will allow both of you and the advisor to set the financial direction for your family, weighing in the pros, cons and everything else in between without boundaries. At the same time, you and your partner-in-hand can align and address shared and personal financial goals realistically, which aids in building further trust and understanding of each other. 

What’s more, the consolidation of finances and working with a common financial advisor go hand-in-hand to give you a clear sense of your current and future financial situation, as well as the actual budget you can afford to spend on your big day. Joseph's financial analysis report does just that, helping couples make fast and easy decisions on their wedding dreams and financial goals like purchasing a house or a car. 

#FinancialHacks: 8 Ways To A Financially-Secure Future With ACQUITY

Following their usual pattern to give you a glimpse and first-hand experience of the benefits of proper financial planning, Joseph also conducted two insightful exercises during the seminar. 

The first required the couples to list their wedding priorities, allowing for a better understanding of each other. The second challenged them to dive deeper into the future by listing their partner's ideal retirement setting and long-term goals, which to many’s surprise, were not as well-thought-out as they believed.

For more information on the importance and benefits of the eight initiatives and financial planning as a couple, contact Joseph at 6572 6972.  

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Financial Services Manager, Joseph Tan and Associates

Rating:
Address:
51 Scotts Road, #02-03, Singapore 228241
Phone:
9853 0208 / 6572 6967

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