Managing Risks in Financial Planning

Financial planning involves taking deliberate actions towards wealth creation. On Wednesday, 31 May 2023, SITizens attended the Financial Management Workshop to learn about financial instruments and to pick up strategies to manage risks in investment.

Held at the Lifelong Learning Institute, the session was conducted by Mr Bennet Lim from Star Horizon Learning. He started the session by sharing three rules – to start early and be disciplined, to focus on long term goals, and to view money as a resource to be deployed.

Ms Angie Lim, a Civil Engineering alumnus, said, “I joined this workshop to gain knowledge and skills in areas such as personal finance and investing, and to start deeper research investing. The workshop was engaging and interactive.”

The workshop also covered the topic of Risk, introducing participants to issues such as Risk Return Relationships, how to understand Calculated Risks in investment, and basic rules to managing risks. The participants got to put their new knowledge into practice through games and interactive exercises, and understand their own risk appetites.

Computer Science in Real-Time Interactive Simulation alumnus Mr Azri Bin Mohamad Kasim shared that he wanted to be financially savvy since recently entering the workforce. “The activity taught me the importance of risk profiling because we learned that we tend to be easily influenced by others’ actions which may not reflect our own profile,” he said. “I also learned how it’s good to start early because of the compounding effect.”