THIS UNIT MUST GO!!
Beautiful and windy 3 + 1 Bedroom for sale at Sixth Avenue Residences! North South facing with a pool 
in front of you to enjoy.
Unit: Blk 168, #0X-14
Asking $1600 psf only!
For more information on the project, please click here!
Going,…. Going…., Going to be GONE! Grab NOW!
Call me at +65 9181 9108 for more information!
Welcome to Sixth Avenue Residences, your exclusive sanctuary in the heart of district 10. Even as you unwind away in your private haven, the bright lights of the CBD and Orchard Road are not too far away.
With a wide selection of shops, restaurants, supremarkets and Holland Village nearby. The Sixth Avenue Residences is also close to some of Singapore’s finest schools, including Henry Park, Raffles Girls, Nanyang Primary, The Chinese High School, Methodist Girls School, St. Margaret’s, as well as National Junior College and Hwa Chong Junior College.
Development Information
Developer: Avenue Park Development Pte Ltd
Extimated TOP: December 2010
Total Units: 175, up to 5 storeys
Unit Types:
2 Bedroom
3 Bedroom
4 Bedroom
Penthouse
Entry Court with Water Feature & Feature Wall
Guard House
50m Lap Pools
Children Pools
Bubble Pools
Pool Deck Area
Water Feature Ponds
BBQ Area with Trellises
Children’s Play Area
Tennis Court
Fitness Corner
Multipurpose Area with Feature trellises
Multipurpose Lawn
Garden with Lily Pond & Trellises
Jogging Track
Clubhouse with Gym & Function Room
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October 24, 2007
Wealthy S’poreans can stomach risks
Barclays Wealth ranks them top in Asia in appetite for risky assets,
GENEVIEVE CUA reports
BARCLAYS Wealth has found that wealthy Singaporeans have the highest appetite for risk in Asia when it comes to their private investments.
What is more, they appear to take as much risk when running their private businesses. This bucks the global trend: people tend to take more risks in business than in their personal investments.
Working with the Economist Intelligence Unit, Barclays Wealth has published a wealth insights report on risk, return and reward. The report surveyed 790 individuals, 40 per cent of whom had investible assets of less than US$1 million. The rest had over US$1 million.
Barclays Wealth chief executive Didier von Daeniken said that the study should be viewed as a snapshot of risk attitudes at a certain point in time. The study was completed just before headlines broke on the sub-prime crisis. ‘If you had asked people (earlier this year) when business was doing well, property is well and so is equity, that would impact the way they answer questions.
‘We keep that in mind – in which environment did we ask the questions … It’s a strong reminder that we have to understand our clients, what they concentrate on, their businesses, families and where they are in the life cycle.’
Nearly half of the wealthy Singaporeans (42 per cent) surveyed said that they were willing to put their money into high risk investments to achieve a high return. This ranked them second in the global risk-taking table, ahead of investors in the US, Hong Kong and Switzerland.
Some 63 per cent of Singaporeans also reported that a high appetite for risk has been an influential factor in achieving the wealth they now hold.
Mr von Daeniken said: ‘Globally, the report reinforces the importance of the link between risk and wealth generation.’ On a global basis, 60 per cent of those with assets of more than US$1 million said that a high risk appetite was a big influence in wealth generation compared with 36 per cent of those with less than US$1 million of assets.
Wealthy Singaporeans are also among the most confident and
knowledgeable investors. When asked about their knowledge of funds and other collective investments, 53 per cent said they were confident, compared with 37 per cent in the US and 31 per cent in Spain.
But Singaporeans were less confident on hedge funds (only 2 per cent) and the debt market. They were also among the least confident in estate planning, tax and inheritance.
Mr von Daeniken said: ‘Our responsibility is to continuously remind clients that there is a risk return equation and they should diversify. No market goes up forever … Whether the investor listens or not, we say it again and again – be diversified and don’t take undue risks. The moment there is a serious correction, they will remember.’
Globally, three-fifths of respondents agree that having enough money to leave to the next generation is a key motivation to securing their wealth.
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October 24, 2007
MONEY MATTERS
HNWIs need financial planning even more
Many wealthy people don’t realise it’s more important for them to have a sound strategy to keep the money they have than to accumulate more By BEN FOK
A FRIEND of mine was elated when he collected a windfall of $4 million from an en bloc sale. He then proudly confessed that he had more than $4 million in investable assets and his retirement was thus assured.
At first glance, retirement planning might seem unnecessary for a high net worth individual (HNWI). These are people who have net assets of at least US$1 million, excluding their home and consumables. Consider the usual assets that an HNWI would have acquired through the years: a family home, perhaps an investment property or two, one or more cars, a healthy bank account, a profitable business. So what’s left to plan?
Quite a bit actually. A number of HNWIs seem to be unaware of the importance of a coordinated financial plan. Without it, many of them will enter retirement with little idea of how much they can reasonably spend and how to structure a retirement portfolio that ensures they don’t run out of money before they run out of breath. Another consideration is how to transfer their wealth while minimising leakages such as estate duty. There is also the issue, for some, of a business continuation plan.
While having money today makes life less stressful, increased longevity has created new anxieties about financial security in the future. I’ve worked with a lot of wealthy people over the years and the experience has led me to think of wealth a little differently. Wealth is more than just money; it is money used to secure a certain quality of life. So it doesn’t matter how big your investment account is. If you lie awake at night worrying about your portfolio, you’re not wealthy. If you wonder whether you’ll run out of money, you’re not wealthy. If you’re not satisfied with your quality of life, you’re not wealthy.
Many HNWIs have done little to protect their wealth. They haven’t written a will, they don’t have a trust, they haven’t named an administrator for their estate or have in place a succession business plan.
Focus on security first
To me, it is more important for HNWIs to keep the money they have than to accumulate more. For instance, my friend who pocketed the $4 million windfall is in danger of losing 5 per cent of it to taxes if he dies today. That’s because a non-dutiable asset (residential property) has become dutiable now that it’s converted to cash. In Singapore, estate duty rules allow an exemption of up to $9 million for residential property. But cash and other financial assets have a much lower threshold of $600,000. It does not matter whether he re-invests the sum in shares or managed funds, it will still be
dutiable. This is a timely reminder for those involved in en bloc sales to do some advance planning.
My advice is to think about security first – not growth. In today’s bullish atmosphere, that might fall on deaf ears. But think about it this way: If you have several million in investable assets, you have reached a point where you already have ‘enough’ – that is, when more money wouldn’t result in a change in your lifestyle. Once you’ve reached this point, it’s more pertinent to look at the risks in investing rather than get excited about potential rewards. That perspective can go a long way in making sure you hang on to the wealth you worked so hard to build.
Those with family businesses have other challenges such as how to transfer the business to the next generation. Conflicts may arise when mapping out the firm’s growth strategy, with the younger generation’s more aggressive management style clashing with the previous generation’s conservatism. Since your wealth is there to create a legacy, it’s worth spending time to plan it.
Many wealthy families are also concerned about how best to raise their children so that affluence does not spoil them or dampen their drive and independence.
If you fall into any of these categories, chances are you already know money doesn’t automatically solve all your problems; in fact, some of the greatest challenges you’ll face come after you acquire wealth.
If you have made it as an HNWI, this is the time to take personal responsibility for your wealth. You need a clear vision of what you want to accomplish with your wealth, and be ready to address financial opportunities and challenges from an informed perspective. It is the best way to ensure continued, steady progress towards your life goals.
As you can see, wealth can create as many problems as it solves. Some may want to explore the range of new, more complicated investment products and strategies. Others may find they are well served by tried-and-true investment strategies. At the least, explore the options to see what works best for you.
Lastly, you may have reached a level of affluence where you need the services of a financial professional to help you preserve and transfer your wealth.
The writer is chief executive officer, Grandtag Financial Consultancy (Singapore) Contact him at ben.fok@grandtag.com
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