The Value of Financial and Legacy Planning

In the world of financial planning, every decision we make carries significant weight, much like the choice to display a parking coupon to avoid fines. Recently, I came across an insightful story shared by a fellow planner in the industry. It’s a simple analogy, yet it powerfully illustrates the importance of insurance and legacy planning in safeguarding our financial future.

 Photo by Glenn Carstens-Peters on Unsplash

In the world of financial planning, every decision we make carries significant weight, much like the choice to display a parking coupon to avoid fines. Recently, I came across an insightful story shared by a fellow planner in the industry. It’s a simple analogy, yet it powerfully illustrates the importance of insurance and legacy planning in safeguarding our financial future.

The Story: Insurance as a Parking Coupon

A mentor to one of my peers recently passed away, leaving behind a well-structured legacy plan. He had insured himself heavily, with coverage running into millions of dollars—enough to secure his family's financial well-being for generations. This mentor had also accumulated substantial wealth, more than he could ever spend in his lifetime.

Curious, the advisor once asked him, “Why did you insure so much?” The mentor’s response was both profound and relatable.

He asked, “Do you display a parking coupon whenever you park your car?” The advisor replied, “Yes.” “Why?” the mentor continued. “Because I don’t want to get a parking summons,” the advisor answered. The mentor then said, “The reason you’re willing to pay $0.50 for a parking coupon to avoid a $30 fine is that you value that $30. Now, do you think your life and financial security are worth more than $30?”

This simple analogy drives home a critical point: The less you are worth, the more you cannot afford to lose. The more you are worth, the less you can afford to lose.

The Role of Insurance and Legacy Planning

Insurance, legacy planning, and other forms of financial planning serve as that essential “parking coupon” for you and your family. Just as you wouldn’t park without a coupon to avoid fines, you shouldn’t go through life without adequate financial protection. As a financial consultant, I focus on providing meaningful and personalized financial strategies that empower my clients to understand the true value of insurance and wealth management.

Over the years, I’ve dedicated myself to ensuring my clients' welfare by regularly reviewing their portfolios to eliminate potential loopholes and guide them on the path to wealth accumulation. My ultimate goal is to build and nurture long-term relationships with my clients, supporting them through different stages of life—from starting out as a fresh graduate to planning for retirement or establishing a family legacy.

What Stage of Life Are You In?

Whether you’re a fresh graduate seeking direction and guidance, an established professional looking to set up retirement and legacy planning, or a business owner aiming to enhance employee welfare and cost-effectiveness through business-related insurance, I’m here to help. If you’re simply seeking more competitive motor insurance, home insurance, or travel insurance, I can assist with that too.

But most importantly, do you have your “parking coupon” ready? Is your financial protection in place to safeguard what you’ve worked so hard to achieve?

Remember, the security and well-being of you and your loved ones are worth far more than any parking fine. Let’s ensure that your financial “parking coupon” is always ready and in place.

Winifred Tan (Wini)
B.Sc (First Class Honours)
ChFC (Singapore) | AEPP | IBF Advanced Level 2CFA (Singapore) - L1 | CIPM (Int’l) Level 1
Court of the Table | Int’l Dragon Awards (Bronze) | APAC Financial Services Star Award
Top 20 GE Executive Financial Consultants | Entre-Planner