Hi, I'm Chen Hong 👋 Have a look around — and if anything sparks a question, I'm one click away.
"Dear Mr & Mrs Tan — thank you for the recent review. This report summarises your overall financial position: your investments and income, your insurance coverage, your CPF position, and the actions we agreed. Where a figure is not guaranteed, it is clearly labelled."
Three decades of disciplined investing, marked to market and consolidated across every account — including the ones each of you manages separately.
| Holding | Where held | Market value (SGD) |
|---|---|---|
| Singapore equities (30+ holdings) | Brokerage — his & hers | ~2,600,000 |
| Regional & US equities | Brokerage | ~250,000 |
| SGD corporate bond | Bank custody | ~150,000 |
| Unit trust portfolio | Wrap account | ~80,000 |
| Fixed deposits & savings | Banks | ~720,000 |
| Total investable assets | ~3,800,000 |
Home, investment property, CPF balances and insurance policies are shown separately. Detailed holding-level analysis sits in the clients' full portfolio workbook — deliberately not published here.For more information on CPF accounts, CPF LIFE and nominations, visit cpf.gov.sg ↗
| Source | Est. amount (SGD/yr) | Guaranteed? |
|---|---|---|
| Dividends across equity holdings | ~66,000 | No — companies set dividends yearly |
| Bond coupon | ~4,000 | Coupon fixed; issuer credit |
| Total vs their SGD 14,000/mth household target | ~70,000 | covers only ~40% of target |
The SGD 14,000/mth target is the couple's own lifestyle (~SGD 10,000) plus lifelong monthly support for Mr Tan's dependent sibling (~SGD 4,000). Both spouses still draw salaries today, which cover the household until their planned retirement at 60 — the shortfall below is what retirement would look like without action. The blended dividend yield is modest (~2.3%) because much of the equity book sits in growth names that pay little; the income that does arrive is concentrated in the three banks.
Every policy in the household, translated into what it actually does for the family — not what the brochure calls it.
| Policy | What it does for you | Status |
|---|---|---|
| Retirement income plan — his | Pays a monthly income from age 60 to 70, then a final lump sum | In force · fully paid |
| Retirement income plan — hers | Guaranteed + non-guaranteed monthly income from age 70; extra payout if unable to perform daily activities | In force |
| Universal life legacy policy (USD) | Whole-of-life, 7-figure death benefit — the estate & trust funding vehicle | In force |
| Whole life policy | Lifelong cover with bonuses | Exploring paid-up option |
| Private Integrated Shield plans ×2 + co-pay riders | Private hospitalisation for both, with capped out-of-pocket | In force |
Non-guaranteed benefits depend on future insurer performance and are not guaranteed. Specific insurers, sums and premiums are shown only in the client's own report.
| Protection layer | Position | Verdict |
|---|---|---|
| Life / legacy cover | 7-figure liquidity for the estate and the trust | OK |
| Hospitalisation | Private plans held personally, both spouses | OK |
| Critical illness | No standalone CI — liquid assets self-insure treatment costs | Low · optional |
| Long-term care | Care income starts only from 70 — possible gap before then | Medium · to review |
| Retirement income | Dividends cover ~40% of the household's needs; even with existing plans + CPF LIFE, income never reaches the target at any age | Gap · plan proposed |
The quiet, government-backed layer of the plan — checked account by account for both spouses.
| Account | Balance (SGD) | Key point |
|---|---|---|
| Ordinary Account | ~500,000 | Earning 2.5% guaranteed — currently beating T-bills and fixed deposits, so it stays put |
| Retirement Accounts | ~450,000 | Both met the Full Retirement Sum at 55 — CPF LIFE payouts are secured for life, for each of them |
| MediSave | ~150,000 | Near the Basic Healthcare Sum — premiums payable from here |
For more information on CPF accounts, CPF LIFE and nominations, visit cpf.gov.sg ↗
Every income stream, by the age it switches on — versus the SGD 14,000/mth the household actually needs (the couple's ~10,000 lifestyle plus ~4,000 lifelong support for the sibling).
| Income source | Now (56) | From 60 | From 65 | From 70 | Guaranteed? |
|---|---|---|---|---|---|
| Stock dividends | ~5,500 | ~5,500 | ~5,500 | ~5,500 | No — set yearly |
| Bond coupon | ~330 | ~330 | ~330 | ~330 | Fixed; issuer credit |
| Retirement income plan — his | — | 800 | 800 | ends → lump sum | Yes (60–70) |
| CPF LIFE — both (est.) | — | — | ~3,200 | ~3,200 | Lifelong; may adjust |
| Retirement income plan — hers | — | — | — | ~1,900 | Part guaranteed |
| Total vs SGD 14,000/mth target | ~5,800 | ~6,600 | ~9,800 | ~10,900 | gap at every stage |
CPF LIFE shown at conservative planning floor across two payouts; actual figures likely higher as interest accrues. All non-guaranteed projections may be higher or lower; CPF LIFE payouts may be adjusted by CPF Board.For more information on CPF accounts, CPF LIFE and nominations, visit cpf.gov.sg ↗
| When | Milestone |
|---|---|
| Next 12 months | Son graduates; daughter decides on her Master's abroad — education monies ring-fenced either way |
| Age 60 | Planned retirement — salaries stop; first retirement income plan, the recommended annuity and the bridge ladder all switch on |
| Age 65 | CPF LIFE begins for both — the guaranteed floor under everything |
| Age 70 | Second plan begins + first plan pays its final lump sum |
Everything in this report ultimately serves the goals this family set and the concerns they shared. Here is each one, where they stand, and the direction agreed.
| Their goal | Where they stand | Direction agreed |
|---|---|---|
| "Let the investments do the work" — SGD 10,000/mth for themselves + SGD 4,000/mth for the sibling, without selling | Not yet — dividends and coupons cover only ~40% of the household's needs, and most of that is non-guaranteed | Add a guaranteed retirement income / annuity layer to close the gap for life — and diversify where the remaining income comes from |
| Launch both children — further study + first-home help | Intentions clear, monies not yet ring-fenced | Set aside dedicated sums now so gifts happen on purpose, not from whatever's left over |
| Provide for Mr Tan's dependent sibling — for life | Provided for in the will, but a one-time lump sum won't protect him over the years — and would land on the children to manage | Our strongest recommendation: a Special Needs Trust with a letter of intent, funded by the legacy policy's liquidity — managed care, not a burden passed down |
| Concern | Why it matters | Direction agreed |
|---|---|---|
| "If one of us goes first" | The survivor must stay secure and the sibling stay funded — without force-selling good assets at a bad moment | The legacy policy supplies immediate liquidity; the portfolio never has to be touched |
| No Lasting Powers of Attorney (our flag) | Without LPAs, neither spouse — nor the children — can step in without a court process | Register both LPAs this quarter: inexpensive, quick, and the single most important gap found |
| Income relies on three dividend payers (our flag) | One industry's payout decisions directly set this family's monthly budget | Add income sources that don't depend on bank dividends — structure discussed privately with the clients |
| Nominations vs will don't match | CPF and policy monies flow by nomination, not by the will — good intentions can misfire | Align every nomination deliberately; add contingent nominees |
| Move | Indicative amount (SGD) | What it delivers |
|---|---|---|
| 1 · Top up both CPF Retirement Accounts to the Enhanced Retirement Sum | ~430,000 transferred from OA — no cash outlay | Lifts CPF LIFE from ~3,200 to ~6,600/mth combined from 65 — government-backed, for life. The single best "safe income" value available |
| 2 · Single-premium lifetime annuity (income from 60) | ~400,000 from fixed deposits | ~1,900/mth for life from 60 — part guaranteed, part non-guaranteed; doesn't depend on markets or bank dividends |
| 3 · Five-year bridge ladder (short endowments / FDs / T-bills) | ~320,000 from fixed deposits | Draws ~5,500/mth from 60 to 65 — covers the years after salaries stop but before CPF LIFE begins |
| Income with the plan in place | 60–65: ~14,000 · 65–70: ~15,100 · 70+: ~16,200 — target covered at every stage |
Funded entirely from CPF OA (~430k of ~500k) and fixed deposits (~720k) — not one share is sold. Salaries until 60 rebuild the cash buffer; ~70k stays in OA as reserve. Plan types and amounts are generic and indicative; specific products, insurers and rates belong to the client's own report.For more information on CPF accounts, CPF LIFE and nominations, visit cpf.gov.sg ↗
| Instrument | What it does | Why it can't wait |
|---|---|---|
| 1 · Lasting Powers of Attorney — both spouses | Each appoints the other (and a contingent donee) to act if mental capacity is lost | Without an LPA, even a spouse needs a court deputyship to step in — slow, costly, public |
| 2 · Special Needs Trust + Letter of Intent | Holds and manages the sibling's ~4,000/mth care for life, with documented care wishes; funded on death by the universal life policy's proceeds | A lump-sum bequest would land on the children to administer for decades — a trust makes the care automatic, managed and protected |
| 3 · Wills, CPF & policy nominations — aligned | Updated wills for both spouses; CPF nominations with contingent nominees; every policy's nomination checked against the will | CPF and nominated policy monies bypass the will — today the documents contradict each other |
For more information on CPF accounts, CPF LIFE and nominations, visit cpf.gov.sg ↗
Every review ends the same way: a short, owned, dated list — so the plan actually happens.
Portfolio, insurance, CPF, estate — one picture, honestly assessed. The Tans' report ran far deeper than this sample; yours would too.
Book a complimentary review →