Jason Chan, Singer

Can your dreams really become reality?

Learn more about his financial planning strategy.


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Jason Chan, Singer

Can your dreams really become reality?

Learn more about his financial planning strategy.

Case Studies

The stories of the dream-chaser reveal ordinary people’s not-so-ordinary financial planning insights.

Freelancer

How can freelancers find financial stability?


Michelle,aged 27

Working freelance without any permanent position, Michelle is a photographer, graphic designer and handicraft class instructor. Sometimes, she will sell her collections online as well. Her goal is to move to Taiwan and open a store selling products of her own brand.

  • Read the story

    Enjoy the freedom of being a freelancer

    Michelle loves sharing her works like photos, hand-made accessories and paintings with friends ever since she was a secondary student. After joining the workforce for three years, she became a freelancer who sells her collections online, takes up design projects for friends, art galleries and design houses and teaches handicraft workshops. Though not stable, her income is more than enough to support her daily living. She even has an accumulated savings.

    Limited opportunities for creative artists

    To Michelle, opportunities for creative artists are rather limited in Hong Kong. That’s why she plans to move to Taiwan where she can set up a store selling products of her own brand and exchange her ideas with other fellow artists. In order to realize her goal, there are a number of things that Michelle needs to consider. Firstly, she hopes to support her parents financially after her parents retire in 10 years. Secondly, she needs around HK$400,000 as initial capital for her venture immigrant application in Taiwan. Michelle feels pressured as she doesn’t have any idea on how to calculate the amount she needs and how to save.


    Flexibility, rather than stability offered by a 9 to 6 job, is what freelancer looking for. Therefore, their financial plans would need to be adjusted accordingly. First of all, Michelle needs to set aside some money for emergencies that equals to say her general expenditure for three months, i.e. around HK$45,000 with her financial ability. In a low-interest environment, instead of depositing money in savings account, Michelle will consider using other ways to save so as to realize her immigration and venture dream in Taiwan and achieve her goal of looking after her parent.


    Michelle wants to arrange a family trip shortly after her parent retires 10 years later as a token of thanks to their love and care over the years. With an aim to develop a brand of her own in the coming 5 to 8 years, more capital is needed for operation. Her monthly surplus is, therefore, put into some saving insurance plans. It is hoped that by the time a family trip for her parents’ retirement can be arranged and her brand is launched, capital will become more adequate as she doesn’t need to contribute anymore. The fact that freelancers are not covered by group medical plan means that Michelle would need to invest some money each month in hospitalization and critical illness protection before starting any savings plan.


    Freelancers love freedom, yet they do have responsibilities. Michelle will be able to realize her dreams and enjoy more autonomy in the future as soon as all her financial needs mentioned above are dealt with.


    Special thanks to the case study provider: Alvin Lam, Certified Money Coach (CMC)®
















    The information above is for general reference only. It shall not constitute nor shall it be taken as a substitute for the professional advice from an insurance advisor on the purchase of insurance policies. No aspect of this website shall be solely relied upon for the decision of insurance purchase. You should seek relevant professional advice before taking action on any matters to which information provided on this website may be relevant. For more details, please contact your Manulife insurance advisor or call our customer service hotline on (852) 2510 3383 (if you are in Hong Kong) or (853) 8398 0383 (if you are in Macau).


Going back to school

Can I just quit and pursue further studies?


Mike,aged 29

Consider quitting his job to go for an MBA

  • Read the story

    Thinking of quitting and pursuing further for career advancement

    Mike joined a local construction engineering firm as a management trainee 3 years ago. He is one of the few being cultivated with special training as the company faces the problem of employee aging. His career looks promising if only he is able to keep up. As years go by, Mike wants to quit and study further for career advancement. He expects to spend HK$700,000 to finish a full-time MBA course in a high-ranking university within a year and a half and take up a key role in a multinational conglomerate.


    Mike’s plan involves risk. Whether he can achieve his goal as expected is difficult to predict. On top of losing stable income in the coming 18 months, he will need to spend some HK$700,000 on tuition. All the savings and wealth accumulation initiatives including his plan to get married will need to be postponed as a result of his decision to quit. As this is a costly decision, he needs to feel confident that he can really earn more in the future.

    Is quitting the only option?

    After serious consideration, Mike understands that he needs a stable job to realize his savings goal as well as his plan to get married in 5 years. Knowing that quitting his job to further study will add uncertainty to his financial planning in the coming five years, he started to think about how he can make use of existing and future resources to generate better gain and fulfil his aspiration.


    Mike can stay in his current position for a while to learn more and gain as much management experience as possible before considering quitting and studying. He can prioritize his goals and consider to allocate his assets into the following 3 portions: i) a reserve for setting up his new family 5 years later; ii) an education fund to enable career advancement in the future; and iii) a reserve for long-term family planning to cover the following expenses: child rearing say 3 years after getting married, education expenses for his future son/daughter and his own retirement fund.


    With reference to the amount he is saving each month at the moment, the total amount he will be able to save in 5 years (excluding gains) and should be more than enough to pay for his new family. After putting aside funds for emergency which equals to his living expenses for 6 months with his financial ability, cash accumulated can be invested for a longer period of time for better return with compound interests. He may consider asset allocation tools providing stable return and flexibility in deciding whether to withdraw the amount by stages or leave on deposit to earn interest. Risk management is important as he will soon be entering into a new stage of life. Suitable and adequate life and health coverage and protection against critical illnesses and accidents are indispensable.


    Special thanks to the case study provider: Alvin Lam, Certified Money Coach (CMC)®
















    The information above is for general reference only. It shall not constitute nor shall it be taken as a substitute for the professional advice from an insurance advisor on the purchase of insurance policies. No aspect of this website shall be solely relied upon for the decision of insurance purchase. You should seek relevant professional advice before taking action on any matters to which information provided on this website may be relevant. For more details, please contact your Manulife insurance advisor or call our customer service hotline on (852) 2510 3383 (if you are in Hong Kong) or (853) 8398 0383 (if you are in Macau).


Dreams come true

Turning hobby into a career


Marcus, aged 30

Left a telecommunication firm where he worked as an assistant manager last year to achieve his dream of becoming a dance instructor.

  • Read the story

    Passion for Dancing

    Marcus has been a fan of dance and music and a lover of freedom. He hates being confined in the office from 9 in the morning to 9 at night without private life. Despite the fact of having a good income, he decided to quit and engage in something else that he really likes before it is too late. He became a dancer/choreographer who teaches dancing classes and takes up choreography assignments at a rented studio to make money and at the same time pursue his dreams. He expects to set up a dancing school in the long run.


    Being a full-time dancer and instructor now, Marcus hopes to support his daily living with quite a large number of pupils and performance opportunities referred by his friends and fellow dancing buddies. If Marcus only teaches as a full time dance instructor, he’s concerned that he won’t have enough monthly surpluses for savings.


    Fortunately, he is able to widen his income source with other freelance jobs like translation assignments and private tutoring sessions since he has a Master’s degree in Translation. This allows him to better manage his wealth and cash flow and get prepared to open a dancing school later on until his pupil pool is big enough.

    A short-lived career

    Marcus earns from his dancing classes and freelance jobs so he has extra money for a savings plan requiring regular contribution. Taking physical condition into consideration, Marcus predicts that he will not have a career as a dancing instructor beyond 50+ years old. By that time, he would need to set up a dancing school and hire other instructors to teach or offer classes jointly with his pupils. Of course, it would be an ideal scenario if he can teach less and earn more as he become more reputable. In any event, his passive income would need to be increased 20 years later for greater stability. Products providing stable income are what he needs. It can be an annuity plan giving out stable or guaranteed payment or insurance plan coverage till aged 100 with options of either cashing in guaranteed payment or leaving it on deposit to earn interest. In view of the increased risk of sustaining injuries because of his job nature, Marcus should also have accident and health protection in place while he is young.


    Marcus can now pursue his dreams in the coming 5 years. If he is able to establish his own dancing school by then and increase his passive income, his future can be more secured. Even if he decided to give up his dancing career, he can always switch back to a profession in either translation or education.


    Special thanks to the case study provider: Alvin Lam, Certified Money Coach (CMC)®
















    The information above is for general reference only. It shall not constitute nor shall it be taken as a substitute for the professional advice from an insurance advisor on the purchase of insurance policies. No aspect of this website shall be solely relied upon for the decision of insurance purchase. You should seek relevant professional advice before taking action on any matters to which information provided on this website may be relevant. For more details, please contact your Manulife insurance advisor or call our customer service hotline on (852) 2510 3383 (if you are in Hong Kong) or (853) 8398 0383 (if you are in Macau).


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