<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>June 28, 2009
me & my money
</TR><!-- headline one : start --><TR>Financial consultant plays it safe
</TR><!-- headline one : end --><TR>Nearly half of her monthly income is invested in unit trusts and insurance policies </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Lorna Tan, Senior Correspondent
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Ms Jean Tan, 32, at home with husband James Wong, 42 and daughter Nicole, four. To Ms Tan, a financial consultant at Prudential, wealth is not just measured in dollars and cents; wealth is memories and bonding with family. -- ST PHOTO: NURIA LING
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->When it comes to investments, Ms Jean Tan likes to play it safe.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>BEST AND WORST BETS
Q: What has been your worst investment to date? </< b>p>
In 2005, I invested a five-figure sum in a Singapore-listed China penny stock after listening to a friend's poor advice. What I bought are now worth only 25 per cent of the sum I had invested. Fortunately, I invested with only my disposable cash so I am still holding on to them in the hope that one day I can cash out with profits.
</TD></TR></TBODY></TABLE>The agency development officer and financial consultant at British insurer Prudential Assurance saves via her 10 endowment plans.
Calling herself a 'moderate risk' investor, Ms Tan, 32, puts her money in unit trusts, endowment plans and properties.
She joined Prudential in 1999 soon after she graduated from the National University of Singapore with a Bachelor of Arts degree.
She is a Million Dollar Round Table (MDRT) life member and has made it to Court of the Table once every two years since 1999. Court of the Table members are those who have achieved a production level that is at least three times that of MDRT membership requirements.
She is married to Mr James Wong, 42, a financial services director with Prudential, and they have a daughter, Nicole, four.
Q: Are you a spender or saver?
I save 40 per cent of my monthly income in fixed deposits, endowment and investment-linked regular and single-premium products. Ten per cent goes to church donations, parents and parents-in-law. Another 40 per cent goes to my business expenses such as salaries to my administrative staff, gifts and cards to my clients. Only 10 per cent is for my personal expenses.
Q: How much do you charge to your credit cards every month?
It varies from more than $100 to $5,000 a month, depending on whether I'm on vacation. I have two credit cards that I use predominantly. I pay off all of the bills every month.
I am really a 'card person' because I get discounts when I pay by cards. I withdraw about $500 once a month from the ATM.
Q: What financial planning have you done for yourself?
I have an investment property that is bringing me positive monthly income right now. The rest of my portfolio is in my company's unit trusts via an investment-linked insurance policy. Of the unit trusts, 90 per cent are in equities, mainly in China, India and Singapore, and 10 per cent in global bonds.
I also have 10 endowment plans. I look forward to achieving potentially a 9 per cent yield per year from my unit trusts in the next 20 years and potentially a 5 per cent yield a year from my endowment policies in the same period. I have insurance coverage of several million dollars, mainly to provide for Nicole in case I die before she turns 25.
Q: Moneywise, what were your growing-up years like?
I am the elder of two daughters in the family. When we were kids, my dad was a regional sales director in an international firm that required him to be out of Singapore 10 out of 12 months. The job paid him well but he gave it up when I was nine because he wanted to be around for my sister and me.
He owned a retail hardware shop at King George's Avenue but his income was only a quarter of what he used to earn. Through his actions, he taught me that wealth is not just measured in dollars and cents. Wealth is memories and bonding with family. There are some things that money cannot buy.
=> But without $ in Leelaland, u're better off dead?
Back then, we lived in a four-room HDB flat in Tampines.
Q: What property do you own?
In 2002, I bought a freehold two-bedroom condominium in Paya Lebar for about $500,000. The net rental yield is about 4 per cent per year. Since then, the property's value has risen about 40 per cent. I plan to sell it when the MRT Circle Line is up.
Last year, James and I bought a freehold two-storey semi-detached house in Upper Thomson. We were immediately offered $400,000 more if we were to sell it but we decided to live in it ourselves instead. The land area is 3,700 sq ft, with a built-up area of 3,700 sq ft.
Q: I drive...?
I drive a black Mercedes E240. It was a wedding anniversary gift from James a few years ago.
Q: What's the most extravagant thing you have bought?
That has to be a Rolex watch that I bought for James on our wedding anniversary a few years ago. It cost me more than $10,000. I felt so bad about him spending so much on the Mercedes and felt that I should at least help to 'upgrade' his watch.
Q: What's your retirement plan?
As long as God permits me and grants me good health, I do not intend to retire. I am working in a solid company that I can retire in and not retire from. But I think realistically, I can gauge things only after Nicole finishes her tertiary education. James and I intend to have more kids.
At a later stage, I hope to offer free financial planning advice to women in abusive relationships.
Q: Home is now...
The semi-detached house at Upper Thomson where I live with James, Nicole and my parents. I also keep one room for my in-laws for weekends when they stay over.
[email protected]
me & my money
</TR><!-- headline one : start --><TR>Financial consultant plays it safe
</TR><!-- headline one : end --><TR>Nearly half of her monthly income is invested in unit trusts and insurance policies </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Lorna Tan, Senior Correspondent
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
Ms Jean Tan, 32, at home with husband James Wong, 42 and daughter Nicole, four. To Ms Tan, a financial consultant at Prudential, wealth is not just measured in dollars and cents; wealth is memories and bonding with family. -- ST PHOTO: NURIA LING
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->When it comes to investments, Ms Jean Tan likes to play it safe.
<TABLE width=200 align=left valign="top"><TBODY><TR><TD class=padr8><!-- Vodcast --><!-- Background Story --><STYLE type=text/css> #related .quote {background-color:#E7F7FF; padding:8px;margin:0px 0px 5px 0px;} #related .quote .headline {font-family: Verdana, Arial, Helvetica, sans-serif; font-size:10px;font-weight:bold; border-bottom:3px double #007BFF; color:#036; text-transform:uppercase; padding-bottom:5px;} #related .quote .text {font-size:11px;color:#036;padding:5px 0px;} </STYLE>BEST AND WORST BETS
Q: What has been your worst investment to date? </< b>p>
In 2005, I invested a five-figure sum in a Singapore-listed China penny stock after listening to a friend's poor advice. What I bought are now worth only 25 per cent of the sum I had invested. Fortunately, I invested with only my disposable cash so I am still holding on to them in the hope that one day I can cash out with profits.
</TD></TR></TBODY></TABLE>The agency development officer and financial consultant at British insurer Prudential Assurance saves via her 10 endowment plans.
Calling herself a 'moderate risk' investor, Ms Tan, 32, puts her money in unit trusts, endowment plans and properties.
She joined Prudential in 1999 soon after she graduated from the National University of Singapore with a Bachelor of Arts degree.
She is a Million Dollar Round Table (MDRT) life member and has made it to Court of the Table once every two years since 1999. Court of the Table members are those who have achieved a production level that is at least three times that of MDRT membership requirements.
She is married to Mr James Wong, 42, a financial services director with Prudential, and they have a daughter, Nicole, four.
Q: Are you a spender or saver?
I save 40 per cent of my monthly income in fixed deposits, endowment and investment-linked regular and single-premium products. Ten per cent goes to church donations, parents and parents-in-law. Another 40 per cent goes to my business expenses such as salaries to my administrative staff, gifts and cards to my clients. Only 10 per cent is for my personal expenses.
Q: How much do you charge to your credit cards every month?
It varies from more than $100 to $5,000 a month, depending on whether I'm on vacation. I have two credit cards that I use predominantly. I pay off all of the bills every month.
I am really a 'card person' because I get discounts when I pay by cards. I withdraw about $500 once a month from the ATM.
Q: What financial planning have you done for yourself?
I have an investment property that is bringing me positive monthly income right now. The rest of my portfolio is in my company's unit trusts via an investment-linked insurance policy. Of the unit trusts, 90 per cent are in equities, mainly in China, India and Singapore, and 10 per cent in global bonds.
I also have 10 endowment plans. I look forward to achieving potentially a 9 per cent yield per year from my unit trusts in the next 20 years and potentially a 5 per cent yield a year from my endowment policies in the same period. I have insurance coverage of several million dollars, mainly to provide for Nicole in case I die before she turns 25.
Q: Moneywise, what were your growing-up years like?
I am the elder of two daughters in the family. When we were kids, my dad was a regional sales director in an international firm that required him to be out of Singapore 10 out of 12 months. The job paid him well but he gave it up when I was nine because he wanted to be around for my sister and me.
He owned a retail hardware shop at King George's Avenue but his income was only a quarter of what he used to earn. Through his actions, he taught me that wealth is not just measured in dollars and cents. Wealth is memories and bonding with family. There are some things that money cannot buy.
=> But without $ in Leelaland, u're better off dead?
Back then, we lived in a four-room HDB flat in Tampines.
Q: What property do you own?
In 2002, I bought a freehold two-bedroom condominium in Paya Lebar for about $500,000. The net rental yield is about 4 per cent per year. Since then, the property's value has risen about 40 per cent. I plan to sell it when the MRT Circle Line is up.
Last year, James and I bought a freehold two-storey semi-detached house in Upper Thomson. We were immediately offered $400,000 more if we were to sell it but we decided to live in it ourselves instead. The land area is 3,700 sq ft, with a built-up area of 3,700 sq ft.
Q: I drive...?
I drive a black Mercedes E240. It was a wedding anniversary gift from James a few years ago.
Q: What's the most extravagant thing you have bought?
That has to be a Rolex watch that I bought for James on our wedding anniversary a few years ago. It cost me more than $10,000. I felt so bad about him spending so much on the Mercedes and felt that I should at least help to 'upgrade' his watch.
Q: What's your retirement plan?
As long as God permits me and grants me good health, I do not intend to retire. I am working in a solid company that I can retire in and not retire from. But I think realistically, I can gauge things only after Nicole finishes her tertiary education. James and I intend to have more kids.
At a later stage, I hope to offer free financial planning advice to women in abusive relationships.
Q: Home is now...
The semi-detached house at Upper Thomson where I live with James, Nicole and my parents. I also keep one room for my in-laws for weekends when they stay over.
[email protected]
