Charles Hui

Charles Hui Fostering a long term relationship with clients to provide Financial Risk Management.

The statements and opinions expressed on this site are my own and do not necessarily represent AIA.

The world has been facing food supply chain troubles, and as a country that imports more than 90% of its food, Singapore...
02/08/2022

The world has been facing food supply chain troubles, and as a country that imports more than 90% of its food, Singapore has been feeling the brunt of it.

On June 1, Malaysia halted exports of 3.6 million chickens a month to Singapore, which makes up roughly 34% of our supply from them, due to supply and pricing issues.

So, where are we getting our chickens from, and how do we survive these supply chain disruptions?

We diversify.

On 30 June, the Singapore Food Agency (SFA) announced that Indonesia was added as a new source for chicken imports, joining a list of more than 20 countries accredited to export chickens to Singapore.

They also encouraged the public to use frozen chicken, imported from countries like Brazil, or to try alternative meat or fish, and refrain from buying more than they need.

Diversifying our food sources ensures that we do not simply rely on one particular source, and reduces our vulnerability to these problems.

It is a critical concept that can be applied to other areas, especially to our finances. As high levels of inflation continue to erode the value of our money, diversification is a key method to hedge against inflation and protect its purchasing power.

Some means to diversify include putting your money in different financial instruments and spreading those investments across different asset classes to limit exposure to any single asset type.

This helps to reduce investment risks and better safeguard your funds and financial plans. Though risks cannot be totally eliminated (especially market risk), with diversification, you can boost potential returns by building a better portfolio of different asset classes to better invest for the long term.

The phrase 'don't put all your eggs in one basket' may sound cliche, but it's still important to plan ahead, especially for retirement.

29/07/2022

Grateful for being able to serve. πŸ™πŸ™

As you progress in your career, your income may increase.But at the same time, your expenses may also be higher. You may...
25/07/2022

As you progress in your career, your income may increase.

But at the same time, your expenses may also be higher.

You may have bought a house, gone on a couple of vacations, got married, or started a family.

With so much to prioritize and a future to consider, let’s all reflect and decide what should we focus on now.

After more than 25 years in the financial services industry, I’m still learning.Learning to be humbly serving my clients...
23/07/2022

After more than 25 years in the financial services industry, I’m still learning.

Learning to be humbly serving my clients in need of financial advice.

Learning to upgrade my knowledge and skills to better service my clients.

Learning to better understand clients as not all clients have the same needs. Some will need higher insurance coverage whereas some who has adequate insurance coverage in place will need much lesser. In fact, most people will not know how much is enough until an event happens. It’s our job to review and provide a holistic advice so that client would not be buying too much of something that is not necessary.

My 25 years of service in the financial services industry has taught me that clients don’t really care how much you know until they know how much you care.

So start Caring!

Thank you to all my friends and clients who showed your confidence in me, listened to my advice and supported me in the last 25 years. I look forward to the many years of continuous good service and advice to YOU and YOUR FAMILY.

Singapore faces β€˜dengue emergency’ with cases now close to 18,000.The dengue season, which usually runs from June until ...
22/07/2022

Singapore faces β€˜dengue emergency’ with cases now close to 18,000.

The dengue season, which usually runs from June until October in Singapore, is just getting started.

Singapore’s National Environment Agency (NEA) reported that 1,190 dengue cases were reported in the week ending 2 July 2022.

As of 4 July 2022, there are 341 active dengue clusters, with 120 dengue clusters with red colour alert (i.e. clusters with 10 or more cases).

Dengue virus serotype 3 (DENV-3) has been detected in 116 of the 120 dengue clusters with red colour alert.

Moreover, according to World Health Organization’s data, the cases have increased by 285 percent compared to the same time last year.

Sadly, dengue cases are expected to be above the roof and remain high in the coming months.

This is why it’s important that we all stay vigilant.

And one of the simplest things we can do is to maintain our homes thoroughly clean and watch out for mosquito breeding habitats (stagnant water).

Another thing is by following the β€˜B-L-O-C-K’ steps.
πŸ‘‰Break up hardened soil
πŸ‘‰Lift and empty flowerpot plates
πŸ‘‰Overturn pails and wipe their rims
πŸ‘‰Change water in vases
πŸ‘‰Keep roof gutters clear and place BTI insecticide inside

In addition to taking measures to repel mosquitoes from our homes, we can also keep ourselves and our families extra protected.

Check out AIA Dengue Cover.

Complimentary coverage includes hospitalisation income benefits, dengue diagnosis benefits and death benefits.

Simply sign up here > http://www.aia.com.sg/en/dengue/app.html?unique=37476 by 31 July 2022, to be dengue-protected (coverage until 31 August 2022).

Application closes on 31 July 2022 or upon full redemption of 100,000 policies.

Don’t let Dengue take a bite off you.

Meet Benny, a 38-year-old dad of 2, working as an F&B manager with a monthly income of $6,500. Combined with his spouse,...
11/07/2022

Meet Benny, a 38-year-old dad of 2, working as an F&B manager with a monthly income of $6,500. Combined with his spouse, their monthly household income is around $11,000.

Benny lives in a 4-room flat in Tampines with his family, and his 2 children both attend Primary school. He speaks more English than Chinese, binges on the latest Netflix series in his free time, and enjoys playing computer games like Dota 2.

Like many Singaporeans, Benny and his wife believes after-school classes are important for their children. They agree that it is critical to prioritise their studies, especially when it comes to the strict Singaporean education system and culture where most parents strive to send their children to after-school classes in the hope of seeing better results.

Therefore, he devotes his time, energy, and money to ensure he gets to provide the best education for his kids. He coughs up massive amounts of money to pay for their tuition and enrichment classes every month to supplement their learning. From Chinese tuition to coding classes, he's taken on as much as his children can manage.

And even though government schools in Singapore are affordable with subsidised fees, the costs of extra classes, together with other household expenses like the monthly mortgage, weekly grocery runs, and family car take up a significant portion of his take-home pay. As a result, he doesn't have much savings, but he still feels that he's doing alright since he co-pays for the house with his wife using his CPF, and because he still has some spare cash in hand.

Since he has some remaining funds after paying off the bills, he feels comfortable to spend on lifestyle purchases, like the shopping trips on Sunday to the malls and the twice-yearly trips to far-flung places like Switzerland and Japan.

However, his mindset quickly changed after attending a complimentary financial and retirement seminar. He glanced at the dismal numbers of his bank account, and realised that he didn't have much to his name even though he was turning 40 soon. It struck him that he was financially stretched and his expenses were threatening his chances of an early and comfortable retirement. Since then, he has been trying to reduce his monthly expenditures, but his journey has not been easy since he has hefty bills to pay.

Do you know someone like Benny? Perhaps you have lived as Benny in the past?

Would love to know more about your thoughts in the comments!

Small changes eventually add up to huge results.6 months from now, you can be in an entirely different place - emotional...
06/07/2022

Small changes eventually add up to huge results.

6 months from now, you can be in an entirely different place - emotionally, physically, spiritually, and financially.

The choice is always yours. It is what you do right now that determines your future.

Located just across the border from Singapore, Johor Bahru is one of the most popular Malaysian cities for Singaporeans ...
30/06/2022

Located just across the border from Singapore, Johor Bahru is one of the most popular Malaysian cities for Singaporeans to visit.

If you are looking for a quick day trip, JB is definitely a great choice.

When in JB, you will never go thirsty or hungry even in the midnight as it is brimming with cafes, restaurants and stalls in almost every street.

Not sure what to add to your schedule?

Swipe left and read below for a list of best things to do when you are in JB, including activities, sights, and food!

How do you see yourself 10 years from now?The thoughts you have today, and your habits determine the kind of life you wi...
22/06/2022

How do you see yourself 10 years from now?

The thoughts you have today, and your habits determine the kind of life you will live in the future.

Will you be a better, happier, or stronger person?

Do you envision life in the future to be the way you want it to be?

Our mind visualizes different scenarios and situations when we think about how we would end up a few years from now. Some call it daydreaming, and it’s quite fascinating.

But how much of this daydreaming remains as a visualization? How much of it will become a reality?

It depends on YOU.

Are you going to let the circumstances and the people around you dictate your life and determine how your life will look like in the future?

The life you lead now, with no plans, no changes to your mindset or expectations, will most likely look pretty much the same ten years from now.

If you take responsibility for yourself, make plans, and follow through with them, your life would improve and change.

Don’t leave it to chance.

Li Xiting, 71, earned the top spot in Forbes Richest list in 2021, with a net worth of $23 Billion. (As of writing his n...
20/06/2022

Li Xiting, 71, earned the top spot in Forbes Richest list in 2021, with a net worth of $23 Billion. (As of writing his net worth is $17.6 Billion) Source: Forbes Singapore’s Richest.

He is the founder and chairman of Shenzhen Mindray Bio-Medical Electronics, a supplier of medical devices.

His wealth was propelled during the pandemic brought about by the demand for medical devices such as ventilators.

Other billionaires who made it to the list are into paint manufacturing, real estate, banking and gaming.

According to Credit Suisse Global Wealth Report 2021, the percentage of millionaires (above US$1 million) in Singapore has increased from 3.1% in 2015 to 5.5% in 2020.

The number of millionaires in Singapore was around 270,000 in 2020 and is expected to increase to 437,000 in 2025.

Some would say, to live in Singapore comfortably, you must be 'rich'.

But what does it mean to be rich?

How much cash and asset is needed to be considered rich?

If you have millions of assets but millions of liability as well, does it qualify to be called rich? How many real estate properties or luxury cars should one own?

How much cash should one have?

I think being rich goes beyond β€˜just’ money.

It is true that money can help you achieve your goals, provide for your future, and make life more enjoyable, but having the wealth itself does not guarantee happiness or fulfillment.

While we need money to survive, the key is finding a balance between money and mindset.

Harold Mackey said this, and I couldn't agree more –

β€˜β€™Being rich is a state of mind.
Some of us, no matter how much money we have, will never be free enough to take time to stop and eat the heart of a watermelon.
And some of us will be rich without ever being more than a paycheck ahead of the game.”

Frankly, it really depends on your value system and how you want to live.

Our attitudes toward life, for instance, often go unmentioned in considering wealth.

How we take care of our health by eating right and adopting healthier lifestyles are some of the many unspoken facets of wealth.

How do you define wealth?

Here’s a question I want to ask: How much quality time do you spend with your parents?If the first thought that flashes ...
16/06/2022

Here’s a question I want to ask: How much quality time do you spend with your parents?

If the first thought that flashes through your mind is β€˜not much’, I want to share my personal story with you.

Contrary to typical Asian parenting roles, my mother was the infamous β€˜tiger mum’, while my dad fueled the fun with his adventurous and easy-going spirit.

While Mum drilled rules into us, Dad taught us all the life skills that I still remember and use today.

He gave us his full trust, gave us the freedom to explore the unknown, and brought out our best in more ways that you can think of. And thankfully, we went on to excel in our individual strengths, and never fell short of his expectations.

So, you can imagine how close our relationship was: we hung out together like best buddies all the time, visiting new spots and having the time of our lives.

One of my fondest memories of my dad is of riding pillion on his motorbike as he brought me around the island to try new food and fill our always hungry bellies. The food was mostly great, but it was nothing compared to the happiness I felt back then.

I also remember feeling proud of how he would always step up to lend a helping hand – a trait and legacy that I’m glad I’ve carried on.

But you know what they say – time flies, priorities shift, and before I knew it, I was a young man hustling with all the time I had on my work and business.

I wound up neglecting my parents and stopped spending time with them.

This continued until it suddenly struck me one day that both of my parents were becoming really old and fragile. Their wrinkled faces were framed with wispy strands of silvery white hair, they felt fatigued more easily, and even the way they moved about and talked changed.

This revelation hit me hard, and I started making time and prioritising them by bringing them overseas, taking them for nice meals, and spending quality time together.

Dad also followed me regularly when I did voluntary work to distribute food to the less fortunate. The time we spent together made those acts of giving even more meaningful.

Unfortunately, I was a step too late – the realization only dawned when Dad turned 78 - just 3 years before he passed on.

The times when he shared his life stories, like his childhood and how he met my mum, remain deeply etched in my mind.

Although Dad is no longer around, I’m glad that I made use of the remaining time we had to the fullest. He may not be physically here, but he continues to live on in my heart.

I’ve also realised how ironic life is - we see our parents first the moment we open our eyes when we’re welcomed into the world at birth. However, in my case, and perhaps many others as well, we only truly get to know them much later than we should have.

We talk often about knowing our friends and partners as well as the back of our hands, but how many of us can say the same of our parents, especially our dads – mostly men of few words?

So, ladies and gentlemen, here’s my life lesson to you: spend quality time with your loved ones while you can, and remember that it’s always better late than never.

This Father’s Day, take the opportunity to do something meaningful together and build memories to last the rest of your lifetime.

"𝐴 π‘”π‘œπ‘œπ‘‘ π‘“π‘Žπ‘‘β„Žπ‘’π‘Ÿ 𝑖𝑠 π‘œπ‘›π‘’ π‘œπ‘“ π‘‘β„Žπ‘’ π‘šπ‘œπ‘ π‘‘ 𝑒𝑛𝑠𝑒𝑛𝑔, π‘’π‘›π‘π‘Ÿπ‘Žπ‘–π‘ π‘’π‘‘, π‘’π‘›π‘›π‘œπ‘‘π‘–π‘π‘’π‘‘, π‘Žπ‘›π‘‘ 𝑦𝑒𝑑 π‘œπ‘›π‘’ π‘œπ‘“ π‘‘β„Žπ‘’ π‘šπ‘œπ‘ π‘‘ π‘£π‘Žπ‘™π‘’π‘Žπ‘π‘™π‘’ π‘Žπ‘ π‘ π‘’π‘‘π‘  𝑖𝑛 π‘œπ‘’π‘Ÿ π‘ π‘œπ‘π‘–π‘’π‘‘π‘¦."...
09/06/2022

"𝐴 π‘”π‘œπ‘œπ‘‘ π‘“π‘Žπ‘‘β„Žπ‘’π‘Ÿ 𝑖𝑠 π‘œπ‘›π‘’ π‘œπ‘“ π‘‘β„Žπ‘’ π‘šπ‘œπ‘ π‘‘ 𝑒𝑛𝑠𝑒𝑛𝑔, π‘’π‘›π‘π‘Ÿπ‘Žπ‘–π‘ π‘’π‘‘, π‘’π‘›π‘›π‘œπ‘‘π‘–π‘π‘’π‘‘, π‘Žπ‘›π‘‘ 𝑦𝑒𝑑 π‘œπ‘›π‘’ π‘œπ‘“ π‘‘β„Žπ‘’ π‘šπ‘œπ‘ π‘‘ π‘£π‘Žπ‘™π‘’π‘Žπ‘π‘™π‘’ π‘Žπ‘ π‘ π‘’π‘‘π‘  𝑖𝑛 π‘œπ‘’π‘Ÿ π‘ π‘œπ‘π‘–π‘’π‘‘π‘¦." Billy Graham

Truly, a father’s love is pure and unconditional.

Fathers endure hardship, they endure the mood swings of their wives, they stay up late changing diapers, bathing kids, buying groceries, and comforting their children.

Fathers are our first teachers. They teach us how to ride a bicycle, how to fish, how to drive, how to change a tire….. and many other life skills and hard life lessons.

Fathers are their daughter’s first love. How he treats both his daughter and her mother can help a young woman feel safe and secure in her relationships with the boys and men in her life, including her future husband.

Fathers provide an example for their sons on how to grow into a man, the integrity, the safety, and the security of the family.

Fathers carry an insane burden of being the provider of the family. They ought to ensure the happiness, health, and security of his family.

They are superheroes and they deserve more credit.

Make time for them. Be with them. Make them feel loved. And now that Father’s day is just around the corner, let’s seize the opportunity to honor these selfless individuals for embodying the values of hard work, tenacity, and passion in the workplace and at home.

The same goes for grandfathers, uncles, stepfathers, or any other person who commands the position of a father in our lives. Life would be so much harder without them. Whether it’s the big things or all the little things, our Dads really are our unsung heroes.

Treat him this Father's day because he deserves it. β€πŸ€—

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AIA Singapore Pte Ltd, 371 Alexandra Road, #05/11
Singapore
159963

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