SINGAPORE: As a young working adult starting out more than half a decade ago, financial advisors were the bane of my existence — or at least my journey home from the MRT station. They would bombard me with hard-sell tactics and financial jargon, in hopes of evangelising the importance of insurance and planning for the future. Even though they meant well, the topic of personal finance felt like an overwhelming beast. It was a reminder that somehow I wasn't a "proper" adult since my money was sitting in an ordinary savings account with barely-there interest rates. Even now among my friends, there seems to be little middle ground when it comes to financial literacy. On one end of the spectrum are diehard bitcoin bros who know exactly which stock to place bets on and what products yielded good returns. On the other end were extreme spendthrifts who lived from paycheck to paycheck, believing they'd magically get their act together when they hit a certain age. They had no investments or insurance, and whatever savings they had was used to pay for short-term goals. I fall somewhat in the middle – a fairly good saver but financially illiterate so much so that… Read full this story
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