PROVIDEND’S MONEY WISDOM PODCAST

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Providend’s Money Wisdom Podcast
by Christopher Tan, CEO

Providend’s Money Wisdom is an original podcast inspired by Christopher Tan’s book ‘Money Wisdom: Simple Truths For Financial Wellness‘. In each episode, he will share simple financial truths to guide you in navigating through the minefields of misinformation and false promises in order to achieve financial security and peace of mind.

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Episode 44: Fee-Only Financial Advisory Practice

In this episode, I will revisit the conviction of our founding members in birthing Providend as a fee-only wealth advisory firm in 2001 and how we have strived and grown to where we are today.

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Episode 43: The Philosophy of Profitability of Wealth Management Firms

In this episode, I will share our philosophy of profitability and why we have transited to using low-cost instruments such as ETFs, index funds and evidence-based funds from Dimensional Fund Advisors for all our investment portfolios.

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Episode 42: The Wealth Management Minefield

In this episode, I will share the relationship between the 3 industry players and why most distributors will get you to buy plenty of products, sometimes even with a substantial part of your wealth.

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Episode 41: Effects of a Fast Food Nation

In this episode, I will reflect upon the operating processes of the financial planning and wealth management sector as compared to that of fast food production.

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Episode 40: An Advisory Service or a Sales Business

In this episode, I will explain the key differences between an advisory service and a sales business, considering the compensation, the way of prospecting for business and the recruitment approach.

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Episode 39: The 6 Distinct Stages of Retirement

In this episode, I will share The New Retirement Mindscape II Study conducted by Ameriprise Financial Inc. in 2010 to understand the retirement journey of individuals which consists of 6 distinct stages.

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Episode 38: Retirement Planning Beyond the Wealth Aspect

In this episode, I encourage all of us to first make a life decision and let our wealth decisions follow it. By doing so (and not the opposite!), our life, whether in retirement or not, will finish well.

Episode 37: Invest Right and Just Stay Invested

In this episode, I will explain how retirees can make the investment strategy we have shared in the past few episodes work to get the expected returns.

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Episode 36: A Lifetime of Reliable Income Stream

In this episode, I will share a very important role of CPF LIFE in retirement planning — to provide retirees with a reliable income stream regardless of the financial market’s performance, for life!

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Episode 35: The Best Way to Get Investment Returns

In this episode, I will share how our investing approach works for our retiree clients as we hold on to the principle of staying invested (in the right instruments) and not timing the markets.

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Episode 34: How to Invest for Your Retirement

In this episode, I will explain why we use index funds by looking at the risks and costs involved, as well as its alignment with Providend’s planning philosophy.

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Episode 33: Securing a Reliable Income Stream – The Six Buckets

In this episode and the upcoming ones, I will introduce you to our proprietary retirement planning methodology – RetireWell™, and how it ensures our clients have peace of mind in their retirement.

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Episode 32: Is Your Financial Adviser Worth His Salt?

In this episode, I will share a list of works you should (at least) expect from your wealth adviser who is helping you with your investments.

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Episode 31: The Ongoing Debate of Active vs Passive

In this episode, I will share the main problem associated with actively managed funds and why we have transited to mainly using ETFs, index funds, and evidence-based funds from Dimensional Fund Advisors.

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Episode 30: Don’t Bet Your Entire Farm on Commodities

In this episode, I will explain what fundamentally drives the prices of commodities and shares a practical strategy one can undertake when deciding to invest in this asset class.

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Episode 29: “Benchmarking” Hedge Funds

In this episode, I will share the 6 key problems with hedge fund indices and explains why Providend has stopped using hedge funds for our clients since a very long time ago.

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Episode 28: Don’t Use Short-Term Information to Make Long-Term Decisions

In this episode, I will explain the main driver of long-term stock market returns and why yield curve inversion is not a very reliable tool for predicting stock market crashes.

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Episode 27: Investing Is Not Just About Returns

In this episode, I will share a few useful and proven ways we can deal with the risks in investments to ensure that we can sleep peacefully every night.

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Episode 26: How to Invest Towards Your Financial Goals

In this very important episode, I will use 3 case studies to take you through the 7-step process of investing in which more than half of it is risk related. Are you ready?

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Episode 25: Learning Investing Through the Mountain Experience

In the last episode, I shared 5 interesting investment lessons we can learn from football. This week, I’ll share my learnings as I braved through the jungles and mountains back when I was an army officer!

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Episode 24: What Has Investing Got to Do with Football?

In this episode, I will share 5 interesting investment lessons we can learn from football and why, if you understand football, you will have no problems understanding investing.

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Episode 23: Will the Real Trustee Please Stand Up?

In this episode, I will explain the responsibilities of a trustee and why it is so important for a trustee to understand the beneficial organisation’s investment options to make a better decision.

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Episode 22: Making Money from Death

In this episode, I will share my professional insights on viatical and life settlements, explaining the problem with these products in terms of ethical considerations and the risks involved.

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Episode 21: The Price of Wanting Quick Solutions

In this episode, I reflect on how foolish my decision would have been if I followed the “popular and easy” approach that many embraced after the 2008 market crash.

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Episode 20: In Crisis, Do the Right Thing

In this episode, I will explain why we remained largely invested and continued to encourage our clients to buy in slowly even when the markets were falling.

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Episode 19: How Best to Weather the Storm

In this episode, I will share 3 situations you might be placed under during a market downdraft, and the important decisions you might have to make to ultimately achieve your life and money goals.

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Episode 18: Don’t Ever Give Up

In this episode, I will share the impact of the top 10 stock market crashes in history and my sincere advice to the investors and advisers out there when facing a market downturn like now.

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Episode 17: Lessons from a Trip Down Memory Lane

In this episode, I will share what we can learn from the stock market history and my professional advice on how we should invest amidst the current falling markets.

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Episode 16: Chasing Returns in the Retirement Game

In this episode, I hope to stress that both phases in retirement planning – accumulation and consumption, are equally important to secure retirement adequacy (not necessarily a luxurious retirement).

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Episode 15: FAQs on CareShield Life

In this episode, I will answer some frequently asked questions on the features and concerns of CareShield Life.

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Episode 14: CareShield Life in Insuring Against Severe Disability

In this episode, I will share the key differences between two severe disability insurance schemes – ElderShield and CareShield Life, in helping Singaporeans prepare for their long-term care needs.

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Episode 13: CPF LIFE in Managing Longevity Risk

In this episode, I will further elaborate on CPF LIFE – the national annuity plan which provides a way out of the longevity risk that retirees face with provision of income throughout their retirement, for life!

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Episode 12: Understanding CPF

In this episode, I will highlight the key principle governing CPF and shares about the Minimum Sum Scheme, CPF LIFE as well as the hottest debate in 2014 concerning the interest rates we are getting from our CPF accounts.

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Episode 11: Retiring in Singapore?

In this episode, I will share the resources available to fulfil the three basic needs in our retirement age – a house to stay in, medical expense insurance, and a reliable monthly income stream.

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Episode 10: On Investment-Linked Policies

In this episode, I will share the key considerations you should take into account if you own an Investment-Linked Policy given its insurance charges that increase tremendously from age 40.

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Episode 9: Will a Medical Crisis Break You and Your Family?

In this episode, I will share how you can be adequately covered to ensure zero or low out-of-pocket expenses during a medical crisis, and to allow you to live normally until your situation gets better.

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Episode 8: The Sales Tactics Behind Whole Life Plans

In this episode, I will present one common tactic used to simplify the way to pay estate duty – use of whole life plans. If you’re an investor of foreign assets, this information would be very useful to you.

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Episode 7: Insurance as Savings? Think Again

In this episode, I hope to dispel a myth that many have believed for a long time – that insurance is a good instrument to accumulate wealth.

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Episode 6: Realisations of a Financial Adviser

In this episode, I will be explaining the types and durations of our insurance needs as well as how we can prioritise one over another given our limited resources.

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Episode 5: Confessions of a Financial Adviser

In this episode, I will share the comparison on how every dollar of premiums you pay is being used between whole life and term insurance.

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Episode 4: The Case for Term Insurance

In this episode, I will share the reasons why we have been emphasising so much on using term insurance despite the absence of a maturity benefit – one of the main reasons for its unpopularity.

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Episode 3: The Basic Principle of Insurance Planning

In this episode, I will share the differences between medical expense insurance for local, regional and worldwide coverage as well as their underwriting requirement.

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Episode 2: Are You Financially Fit?

In this episode, I will list down 6 financial health markers you can use to check your financial condition and the practical ways to stay financially healthy and fit.

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Episode 1: What Can You Expect from This Podcast?

In the very first episode, I will be sharing my objectives of publishing the Money Wisdom book back in 2019 and an overview of its content flow so you can have a better understanding of what to expect from this podcast. A common theme throughout my book is the focus on making a life decision first and let your life decision lead your financial decisions.

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