You may have noticed recently that your grocery bills have gone up.
Did you know that fresh eggs had the biggest increase of 30% over the last one year?
WHY ARE FOOD PRICES RISING?
Global food prices are affected by factors such as pandemic-induced labour shortages, higher energy and freight costs and weather-related disruptions. The recent Russia/Ukraine conflict has also pushed up food prices, as the two countries produce nearly a quarter of the world’s wheat, and are also major exporters of barley, corn and sunflower seed oil.
SO WHAT CAN WE DO IN AN INFLATIONARY WORLD?
1) Create Multiple Income Streams
Some would call it a side hustle, or a side gig. It is not enough to depend solely on one income source, even Warren Buffett seconds this.
“Never depend on a single source of income” – Warren Buffett
This provides us a certain degree of protection if the main source of income diminishes.
2) Start Investing
The 2nd half of Warren Buffett’s quote reminds us to start investing for a second income source. While inflation works AGAINST us while we sleep, Investments work FOR us when we rest.
3) Complement with Capital Guaranteed plans
For the risk adverse or those who wish to shield their financial portfolio from the volatility in investments, there are still a handful of capital guaranteed plans which provide passive income for peace of mind.
Whether it’s an investment solution or capital guaranteed solution, speak to us to find out which solution(s) is a good fit to your unique financial objectives and portfolio!
Meanwhile, let’s look forward to more social activities where we can re-connect with friends and family, as Singapore eases covid rules next week from 29/03/2022.
Have a good weekend!
Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.
Winnie is a Certified Financial Planner with more than 10 years experience in financial advisory services, helping many of her clients to achieve their financial dreams, while protecting their families.
With more than a decade of insurance claims experience, she has tangibly helped many clients receive their claims pay-outs successfully, relieving their financial burden.
As part of her community outreach program, she finds it very meaningful to conduct financial talks for companies where the staff can benefit from the talks. Some of the companies who have benefitted include National Kidney Foundation, Singapore National Eye Centre and Singtel.
Despite her busy schedule, she enjoys working out at the gym and playing the piano (currently pursuing Grade 5 ABRSM).
By submitting this form, I confirm that
In compliance with the Personal Data Protection Act, Financial Alliance Pte Ltd (“FAPL”) seek your consent to collect and use your personal data (e.g. name, NRIC, contact numbers, mailing addresses, email addresses and photograph) for the purposes of and in accordance with FAPL’s Data Protection Policy, which can be found on FAPL’s website at https://fa.com.sg/data-protection-policy/.
根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.
By submitting this form, you are deemed to have read and understood FAPL’s Personal Data Policy.
Subscribe to our newsletter to receive updates on our latest content!