Stage 3: Preparing Ahead


Are you in your “Preparing Ahead” Life Stage?

Most individuals in the “Preparing Ahead” life stage prioritize their families while making sure that they also prepare for their future needs – that includes ensuring that they can provide for their dependents financially, as well as taking care of their health or preparing for their own retirement.


You’re already off to a good start because having clear dreams and life goals will give you a compelling reason to SAVE and INVEST, rather than SPEND needlessly.


Read Previous Article: Stage 1: Getting Started and Stage 2: Moving Up

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So what do we need to do now to prepare for a brighter life tomorrow?
For you, these are the things that I recommend for us to do.

  1. Create a conscious spending plan.
  2. Build an emergency fund.
  3. Ensure future income.
  4. Ensure income in case of illness or injury
  5. Prepare a retirement fund.
  6. Save for life milestones or your dreams/life goals.

Note: If you’ve read the previous article “Stage 1: Getting Started”, you may skip reading steps 1 and 2, and go directly to step #3. Ensure Future Income. If you’ve read the previous article “Stage 2: Moving Up”, you may skip reading steps 1, 2, 3 and 4, and go directly to step #5. Prepare a retirement fund.

The secret to saving is really not on how much you earn but how much you save or set aside.

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The prescribed amount is 20% of your income monthly. Depending on your lifestyle, you may even increase it to 30-40%. Start with an amount that you’re comfortable with and work your way upwards.

The key is to treat your savings as a monthly expense and automate fund transfer or investment in a financial product so you won’t be tempted to spend it on short-term wants. Once you have committed to this habit, achieving your goal will become so much easier.

Do you have an emergency fund? Is it enough to tide you over in case of an emergency?

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The purpose of an emergency fund is to ensure that you have a liquid fund to draw from should an emergency arise.

An emergency is something like sudden job loss, hospitalization due to illness, rebuilding a house after a natural calamity, an emergency trip to the province, etc. The emergency fund must be replenished once it has been used and depleted.

Because of this purpose, your emergency fund must be placed in a savings or time deposit account to ensure that you can access it at any given time. By placing it in a liquid financial product, you won’t have to touch your savings or investments (by redeeming or pre-terminating and incurring penalties) that are intended for your mid-term or long- term goals. For your health-related concerns, you must also have health insurance such as an HMO or critical illness insurance or hospital income benefit plans to help with hospitalization expenses.

Ideally, the emergency fund should be equivalent to 3x-6x of your monthly expenses.

If you do not have an emergency fund yet, you can start to build it slowly by channeling a portion of your savings to it. This can be done simultaneously while you also save for your other life goals.

It’s Time to Get Insured! Ensure your future income to fund for your family’s future goals, dreams and expenses.

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We don’t know the uncertainties that life may bring. But there is one certain thing – our family depends on our income to support their financial needs and even achieve their dreams.


That’s why it is important that we ensure your future income to secure the financial well-being of your loved ones.

Health Expenses can be costly. Save your family from the financial drama. Learn more about health and critical illness insurance.

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With the rising cost of goods, we must be saving as early as we can and as much as we can for retirement. When the time comes that we are not actively working for income, we can be assured that we have a fund to use for our golden years.

Preparing a retirement fund is also an important component that we need to consider when we develop your financial plan.

Life is too short to be anything but happy. What are you passionate about? What makes you happy? Let your money create more money to fund for your future passion projects.

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We can help you create, implement and review existing plans

Screen Shot 2014-10-06 at 9.41.10 PM As your advisor, those are the bright choices that I can help you with. How? By assisting you in developing a FINANCIAL PLAN suited to your life goals and your unique circumstances. Creating a financial plan is a collaborative effort and together we will create, implement and review this road map to help you achieve the Brighter Life.

We can help you manage your finances on your “Getting Started” Stage

These are the steps that we will go through:



  • We will identify and prioritize your life goals
  • We will compute how much those will cost in the future and adjust based on your financial situation
  • We will develop a financial plan customized to your life goals


We will choose the appropriate product solutions for your life goals


We will track your progress in achieving your life goals

What do you want us to work on today?

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Let us talk about your dreams/goals/worries/concerns. What do you think are your life goals that we should be prioritizing now? We can help you create a financial plan and assist you all the way as you work your way up to your financial goals and dreams. Getting started isn’t easy, but with a proper plan, you can get there.

Money Monkeys can assist you:




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