Invest or insure: Which should come first if you cannot afford both? | Money Talks

You have money left at the end of the month after paying your bills. Should you invest it to grow your wealth or spend it on insurance for protection? And what happens if you cannot afford to do both?

On the Money Talks podcast, Gidon Jerome Kessel, Group Head of Deposit and Wealth Management at UOB, and Toni Fong, Chief Customer and Marketing Officer at Prudential Singapore, talks about striking the right balance and adjusting your emergency savings at different life stages. 

This episode is brought to you by @uob.

Highlights:
00:00 Intro
01:20 How much should you allocate?
02:24 The hidden costs of critical illness
04:35 When you're underinsured but heavily invested
07:10 Can you have too much insurance?
10:57 How much protection do you need?
13:02 Insurance or investments: What comes first?
18:54 Which insurance coverage should you prioritise?
24:13 Can you reduce insurance after 55?
29:22 How to assess your financial adviser

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