Young, Capable and Establishing a Career
You finished university and started on a promising career. Being independent of your parents now, you will not want to be dependent on them again and in fact be able to support them from now onwards. You may find that you have extra cash to pamper yourself with purchases and entertainment.
You have grown up and life has been good. However, maybe there is some wisdom in thinking about your goals and how you will want to achieve them.
Capable individuals have liquidity of a few thousand dollars for the first time in their life, what should you do with it? You are wondering if you should pay off your tuition loan faster. What are the big-ticket items that you will encounter within a few years?
Investment Management
You want to grow your wealth and are seeking avenues for investments. Basic rule is to put an amount equivalent to few months of salary in emergency cash. The more stable the job, the less you’ll need in cash.
You will also need some form of investment to build up cash for future purposes such as marriage and property. With so many options of investments available, you should learn more by reading up books or a better way will be to speak to a Wealth Manager.
Insurance Protection
You should be covered for basic insurance, such as hospitalization, critical illness, disability and death. Why get covered?
(note: insurance and investment are NOT the same)
Wealth Management
There are other aspects of wealth management, such as crisis management, retirement planning, estate planning, wills, mortgage brokerage, etc
