21st November 2025
Recently, I had the chance to reconnect with old school friends—some of whom I hadn’t seen in nearly 40 years! As we shared stories and enjoyed a few beers, work was the last thing on my mind. So, it caught me off guard when one of them asked, “Can you recommend a ‘good’ financial adviser?”
But it got me thinking—why that question? While I don’t often get asked about financial advisers, I do frequently receive questions about which MPF schemes are the ‘best.’ (If you’re curious, check out MPF Ratings’ Gold rated schemes.) This conversation reminded me of something important, and I thought it was worth sharing.
The question, “Can you recommend a ‘good’ financial adviser?” was, in essence, a “cry for financial help.” It’s a courageous query that should be applauded. Frankly, more people should ask it, but I understand it can feel embarrassing or uncomfortable to face one’s retirement prospects, especially later in one’s working life. This leads me to my next point.
When we’re young, retirement often feels like a distant problem. However, the reality is that planning for it is an ever-present concern for both today and the future – if you aspire to a comfortable retirement. While asking for a ‘good’ financial adviser in the latter half of your working life is a valid question, it’s unlikely to drastically alter your financial future unless some necessary groundwork began earlier.
An adviser can guide you, but they can’t do the work for you. Financial advisers aren’t miracle workers; the ‘good’ ones are excellent educators and mentors. They help you understand your current situation, clarify your goals, and guide you toward them as smoothly as possible. However, unless you’re prepared to do some essential groundwork – like using smart planning tools – no amount of guidance will get you where you want to go.
MPF Ratings assesses MPF schemes as ‘Gold’, ‘Silver’, and ‘Bronze’ based on their value for money. A key differentiator for ‘Gold’ schemes is their strong commitment to empowering members to make informed decisions for their own retirement. Crucially, this involves providing high-quality tools and calculators to help members identify what they currently have and what they will need to achieve their individual retirement goals.
One of the most vital tools is a retirement calculator. It helps you understand how much you spend and need to save to achieve your specific retirement goals. The difference between what you are currently saving and what you need to save to reach your retirement objective is known as the ‘Retirement Gap’.
We’ve discussed the ‘Retirement Gap’ previously. Without the right tools, calculating this can be challenging, yet it provides crucial information. Understanding your gap enables you to engage more proactively with your MPF and grasp the steps required to secure your future.
Numerous factors influence retirement savings, making calculations complex. Fortunately, one of MPF’s best value-for-money schemes, the Gold rated Sun Life Rainbow MPF scheme, provides some of the industry’s finest tools. The brilliance of Sun Life’s tools lies in their simplicity: they are functional and written in plain language, making them extremely easy to use. Sun Life’s Retirement Savings Calculator effectively helps you understand how much needs to be saved to reach your goals.
Sun Life’s Retirement Savings Calculator is exceptionally flexible. It accounts for income, investments, current savings, and expected returns to help members determine their required future savings and investment levels. Furthermore, it allows for ‘what if’ scenarios, illustrating how adjustments to various financial inputs can help you better achieve your retirement goals. This self-exploration is a crucial part of the groundwork needed before seeking professional advice.
The most significant hurdle in achieving one’s retirement goal is often simply taking the first step. Highly functional and user-friendly tools, such as the Gold rated Sun Life Rainbow MPF scheme’s Retirement Savings Calculator, help eliminate guesswork, simplify understanding, and enable you to lay the foundation for your future. By proactively using these tools, you’ll be well-prepared for a productive meeting with a ‘good’ financial adviser, ready to discuss concrete goals and strategies.
The information contained in this blog is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.
