[Post 351] More banks in Singapore to offer money lock feature, but take-up rate low among young adults

Summary

At least three more major banks in Singapore including HSBC, Maybank and Standard Chartered are set to offer a money lock feature as early as June this year. Banks that already started offering the function last November say that while the number of people choosing to protect their savings is growing, most of them are older customers. Young adults make up as little as 15 per cent of the safety feature users. CNA’s Nasyrah Abdul Rohim reports.

[Post 350] Why investors need to know how to read financial statements | Money Talks podcast

Summary

One tool that every shareholder or investor should have in their arsenal is the ability to read and assess a company’s financial statements. But not everyone is equipped to cut through the jargon. David Gerald, founder, president and CEO of Securities Investors Association (Singapore) shows Andrea Heng what to look out for.  

[Post 349] Why is inflation taking so long to moderate in Singapore? | Commentary

Summary

Singapore's core inflation has fallen well below its peak of 5.5% in January and February 2023. But is it coming off fast enough? OCBC chief economist Selena Ling weighs in.

[Post 348] How Temu Is Becoming a Serious Competitor to Amazon and Walmart | WSJ

Summary

Temu, a Chinese-founded e-commerce company, became the most-downloaded app in the U.S. in just over a year. The retailer has flooded social media feeds with curious consumers and even aired ads at back-to-back Super Bowls. In 2023, the discount retail app moved about $17 billion worth of goods between manufacturers and customers across the Pacific. 

WSJ breaks down how its continued growth could redefine online retail, just like Amazon’s speedy delivery did.

[Post 347] Inside a Chinese Ghost Town of Abandoned Mansions | WSJ

Summary

China’s property crisis is expected to get worse as sales of new homes plummet and indebted developers struggle to find funds to complete projects. Real estate giant Evergrande was recently forced to liquidate as more than 50 housing developers have defaulted on their debts in recent years. 

WSJ’s Jonathan Cheng travels to an abandoned “ghost town” in Shenyang City built by the Greenland Group to explain how China’s real-estate slump has become a headache for the government.

[Post 346] How 2024’s Record Retirement Numbers Could Spark a Recession | WSJ

Summary

Over four million Americans will reach traditional retirement age this year, more than any other time in history. By 2030, baby boomers will all be 65 or older, shrinking the workforce share of the population. What does this mean for Social Security, which is funded by taxing current workers?

WSJ breaks down how this demographic shift threatens the future of Social Security if nothing is done before 2034.

[Post 345] Legacy Planning: Can You Write A Valid Will In 10 Minutes? | Money Mind | Will Writing

Summary

A will is a key part of everyone's financial planning. Can you make a valid one without a lawyer? Dawn Tan gives it a go.