Money can’t buy happiness, can it? A certain study calculated that happiness in Singapore will cost around S$62,233/year ($5,186/month).

When it comes to money, many don’t cater enough margin of safety. Just like buying travel insurance before a holiday, or having a wet-weather plan for an outdoor event, your financial plan should have some contingencies and room for unforeseen circumstances.

A study found that 70% of families lose all of their wealth by the second generation, with that number increasing to 90% the third generation. There are many books or strategies written teaching you how to get rich, but how do you actually protect your riches when you get to where you want to be?

Majority of people generally transfer their assets only when there is an onset of cognitive decline. However, the delayed timing could bring about significant repercussions to your hard-earned assets.

Creating a will shows love and concern for your loved ones when you’re gone. Don’t undo a lifetime of financial prudence by failing to plan ahead.

When you help others, you help yourself as well.

What financial lessons and values will your heirs inherit from you?

Talking about money with your children is difficult, but necessary. Here are some tips to guide you along.

How do you ensure you don’t lose what you have?

Even if you are not a crazy rich Asian, don’t underestimate the need to plan your legacy properly. Do so in a way that accounts for the unique characteristics of each child.