|UOB Kay Hian, who celebrates its 50th anniversary this year, initially planned to commemorate the significant milestone with a grand celebration before the pandemic struck.
The management felt that the funds initially set aside for the celebration could be more meaningfully deployed to help segments of the community who are most affected by the pandemic and are in urgent need of financial assistance.
Hence, the company together with its management and associates have decided to donate $2.9m to various charities whose mission is to extend help and care to the elderly, sick, needy children and youth.
The outbreak has taught us a valuable lesson, and that is to be financially prepared for the unexpected.
When it comes to Financial Planning, one needs to be level-headed, disciplined and have a long term view when you are setting your financial goals. In order to structure a proper financial planning process, here at UOB Kay Hian, we believe there are 3 easy ways to get started.
1. List out your financial objectives
Write down exactly what do you want to achieve when you are making a decision on investment. Are you trying to accumulate wealth to buy something in the short term? Or are you trying to make your money work harder for you and achieve a higher interest rate as compared to the banks’ deposit rates?
2. The duration you intend to stay invested
Investment period is correlated to the financial objectives. The longer you intend to stay invested, the higher the probability of accumulating higher rate of returns. You get to ride out market volatility and if you are investing regularly in a disciplined manner, dollar cost averaging (DCA) will work in your favour.
3. The amount of risk you can accept
Usually, when it comes to investing, most of the investment professionals that you speak to will ask about how much returns you are looking for. However, the key is not about how much returns you want to achieve but how much risk you are prepared to accept. Once you have settled the risk level, the returns will take care of itself.
If you can accept a higher level of risk then it is expected that the returns will be higher too.
Financial Planning is a journey.
It is not a short-term reaction to an event, such as a black swan event. You need to sit down, pen down your ideas, stay on course and be disciplined to achieve your goals.
Here at UOB Kay Hian, we have a myriad of products to help you to achieve your goals. We also conduct 4 to 5 seminars a month to educate our clients on the latest macroeconomic events and how these will impact your investment decisions.
We have a strong Research team that actively cover more than 400 Asian listed companies (Singapore, Hong Kong, China, Thailand, Indonesia and Malaysia). Each year, we deliver more than 5,000 in-depth reports on companies, sectors, markets and the economy, as well as a steady flow of outperforming investment ideas.
We are here to help you.
Open an account with us today and start your financial planning journey with us!
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