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Business Times
a day ago
- Business
- Business Times
WealthBT: Crafting a lasting legacy of values over valuables
In the intricate world of legacy planning, what does legacy mean to you? Is it merely wealth distribution between the generations or is there a deeper meaning to the term 'legacy'. In the latest episode of WealthBT, a podcast of BT Correspondents by The Business Times, host Genevieve Cua conducts an insightful discussion with Christopher Tan, chief executive, Providend, for those seeking to understand how to leave a meaningful legacy. Why legacy planning matters People often consider legacy planning simply as the process of distributing assets to loved ones. However, as highlighted in this episode, legacy planning involves much more. It's about the lasting impact you wish to leave on your family and community. The podcast emphasises the need to reflect on what you want to be remembered for - beyond just material wealth. Tan illustrates this by explaining that true legacy planning encompasses your beliefs and values, not just your financial assets. Values and beliefs you want to pass on BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Both Cua and Tan agree that legacy planning is a continuous process that involves making daily life choices that align with your core values. Some practical steps include deciding what values and beliefs you want to pass on, who your beneficiaries will be, and how to manage potential issues that might arise in wealth distribution. One of the episode's highlights is its detailed exploration of common mistakes in legacy planning. Tan points out issues such as providing too much too soon to children, which can create dependency and entitlement. Another mistake is the reluctance to talk openly about wealth with children, resulting in misunderstandings after parents pass away. In the podcast he makes some suggestions to avoid future conflicts. Significance of a Letter of Wishes A notable strategy discussed in the podcast is the use of a Letter of Wishes, which adds personal context and guidance to formal legal documents like wills and trusts. This letter can clarify the reasoning behind specific bequests and express the values you hope will guide future generations. Tan emphasises that this letter is crucial for helping trustees and executors make discretionary decisions aligned with your wishes. The episode also covers how parents can prepare their children to inherit wealth responsibly. His recommendations in this part of the podcast is key listening for someone wanting to ensure understanding of intentions. Listen now to the episode as it offers a comprehensive guide to thinking beyond financial assets. Addressing common pitfalls, offering insights into the importance of values in wealth transfer, and provides strategies to prepare the next generation. WealthBT is a podcast of BT Correspondents. Look out for the next episode featuring correspondent Derryn Wong. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@ --- Written and hosted by: Genevieve Cua (gen@ With Christopher Tan, chief executive officer, Providend Edited by: Emily Liu & Claressa Monteiro Produced by: Genevieve Cua, Emily Liu & Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media --- Follow BT Correspondents: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: BT Podcasts: BT Market Focus: BT Branded Podcasts: BT Lens On:
Business Times
12-05-2025
- Business
- Business Times
WealthBT: Navigating tariff-based market volatility
Tariffs and how they might impact your investment strategy is top of mind for many investors. In the latest episode of WealthBT by The Business Times, host Genevieve Cua, dives into the complexities of market fluctuations and investment strategies with Dr Wei Dai, head of research and vice president at Dimensional Fund Advisors. Market volatility and investment strategies The episode kicks off with Cua asking a critical question: 'Did you hold your nerve when markets fell sharply?' The context is the steep tariffs announced by the Trump Administration that had subsequent impacts on the financial markets. Dr Dai highlights the importance of not using market downturns as a reason to make hasty investment decisions. Dr Dai further explains the role of market prices in the financial ecosystem. She states that market prices are forward-looking and already incorporate expectations about future economic conditions. The historical data supports this approach and she expands on this, sharing immensely useful information in the podcast to drive home this point. Understanding volatility Market volatility is a recurring theme in this episode. Dr Dai emphasises that volatility is not inherently negative. Instead, it's a sign of a well-functioning market that is adjusting to new information. Increased volatility often comes with higher trading volumes and wider bid-offer spreads. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Cua and Dr Dai also discuss the pitfalls of over-concentration in US assets. Given the unpredictable nature of market performance, Dr Dai shares her recommendations for a globally diversified portfolio. Long-term investment mindset A key takeaway from this episode is the importance of maintaining a long-term investment mindset. Dr Dai points out that while equity markets have historically returned about 10 per cent annualised, this figure is achieved through navigating both bear and bull markets. When it comes to asset allocation, Dr Dai suggests that investors should have a well-thought-out plan that reflects their risk tolerance. Any adjustments should be permanent and not based on short-term market movements. This highlights the importance of working with financial advisors who can help create a tailored financial plan. Listen now for key strategic investments insights from Dr Wei Dai for a well-diversified portfolio that can mitigate risks and provide long-term benefits. WealthBT is a podcast of BT Correspondents. Look out for the next episode featuring correspondent Derryn Wong, and if you have any thoughts or questions, feel free to reach out to us at btpodcasts@ --- Written and hosted by: Genevieve Cua (gen@ With Dr Wei Dai, head of research and vice president, Dimensional Fund Advisors Edited by: Emily Liu & Claressa Monteiro Produced by: Genevieve Cua, Emily Liu & Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media --- Follow BT Correspondents: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party's products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: BT Podcasts: BT Market Focus: BT Branded Podcasts: BT Lens On:
