Southbourne Group Singapore, Tokyo Japan 5 Tips for Year End Money Saving | Page 2

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So, if you make a conversion in November or December, it’s like getting a free year! You’ll be able to start
withdrawing your earnings tax-free a full year earlier than if you wait until next January.
5. Check Your Insurance
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Life insurance always seems to be a daunting topic because we are talking about what happens to your finances if
or when you pass away.
Life insurance takes care of your family, helping ensure they will be financially fit even when you are not around.
A good rule of thumb is to get enough coverage for 10 to 15 times your current salary. (Source if you choose to use
fact: Forbes)
A life insurance calculator, like the on my website at cowentaxgroup.com can help determine how much coverage
you actually need.
Also, Make sure your beneficiaries are up to date.
You may need to make changes if there were any major life changes, like births, deaths, marriages or divorces this
year.