Lisa Cheng, Champion Climber

Can you really raise a child?

Learn more about her financial planning strategy.


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Lisa Cheng, Champion Climber

Can you really raise a child?

Learn more about her financial planning strategy.

Case Studies

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

Planning for the wedding

Get the Budget Right for Wedding and More?


Planning for the wedding
Marko: 30 years old (private tutor, monthly income: around HK$34,000)
Martha: 27 years old (administrative clerk, monthly income: around HK$28,000)
The couple is engaged and has to deal with the huge wedding expenses. They currently live in a rented apartment but aspire to buy their own. They also plan to retire at 60.

  • Read the story

    Prepare for the Wedding and the Life Ahead

    After years of dating, Marko and Martha plan to get married. Although there is more than a year to go, they have still had many decisions to make, such as the banquet, venue and booking of a lawyer (Civil Celebrant of Marriages). Marko also wants to offer his bride the most unforgettable wedding ever with a pre-wedding photoshoot in Iceland and banquet held at a 5-star hotel.


    They now live together in a rented apartment in Kowloon close to their workplaces, and would like to buy their first home after getting married. Meanwhile, Marko wants to retire with Martha at the age of 60, which will be 30 years later.

    A Wedding and a New Home at the Same Time?

    While the two are eager to plan for their future together, they still feel a bit confused.


    In fact, with the limited savings, they should set their priorities and budgets. They should set aside a budget for the photoshoot, which will cost HKD$400,000, and the banquet, which will cost HKD500,000 for 15 tables. They will need about HKD$900,000.


    With their current savings and the net surplus in the coming four months, they should be able to cover these expenses. However, they will have to use all of their savings for the down payment of a new home, and repay the mortgage loan monthly. In this case, they may have to change their plan and choose to tie the knot overseas and pick a more affordable photoshoot package. After careful consideration, they have decided to stay at the present apartment for now as the place is comfortable and the rent is reasonable.


    But as all savings will be spent on the wedding, they must make good use of their monthly surplus from now on so as to accumulate wealth for retirement.


    Meanwhile, both Marko and Martha will need medical plans that will protect their savings against any unexpected medical expenses, as well as life protection with each other as the beneficiary.


    For retirement, they may consider tools with higher long-term return and relatively higher risk, such as equity-based products. As their equity and MPF portfolios primarily consist of risk assets, they may reduce the risk through diversification and allocate some capital to more conservative savings insurance plans. They should also review their financial plans regularly to ensure that they are on track towards their goals.


    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).


Growing family

Plan for Your Kid’s Future?


Growing family
Michael: 35 years old (programmer, monthly income: around HK$46,000)
Michelle: 35 years old (full-time housewife after their son was born)
The couple live in a private apartment measuring about 400 sq ft, with a monthly mortgage repayment of HK$15,000. They have to take care of their son and dependent parents, and would like their son to receive higher education.

  • Read the story

    Planning a better future for their child

    Michael and Michelle are happy parents of their 2-year-old son. As the breadwinner of the family, Michael has some concerns about the future. His primary concern is that their home may not have enough space for his kid, and they may need a bigger home.


    All parents want their children to be smart and outstanding, and the couple is no exception. While Michelle is searching for a good kindergarten to ensure the academic success of their boy, Michael is thinking about the future, and would like his son to study in a renowned university overseas to broaden his horizons one day. On top of these plans and expectations, they also want a secure retirement plan.


    It is important to set a timeline for goals at different life stages. As they may need a bigger house when their son is in secondary school, the timeline of home purchase should be set at 10 years later. The current mortgage loan would be fully repaid by then and they may choose to sell the flat to fund the down payment of a larger apartment.

    Planning for school vs. business

    Realizing that it will be financially challenging for them to let their son attend those elite schools, which will mean years of heavy burden, Michael and Michelle want to focus on moral education first and set aside a university education fund what may allow the kid to start his own business.


    It is expected that they will need the money 16 years later when their son starts university, or another five years later if the fund is used for starting a business. They should therefore consider a plan with high withdrawal flexibility. The time of first withdrawal should be set at 16 years later. If the money is not withdrawn, they may leave it on deposit to earn interest under the plan.


    Apart from preparing for the needs of their child, Michael and Michelle should manage their risks carefully to ensure that their son will be taken care of if the father unfortunately passes away at an early age. Hence, Michael needs a comprehensive life insurance plan with a savings element. When their son becomes independent, the cash value of the plan will continue to accumulate and can be used as the retirement fund for him and Michelle. They may take out the plan now, and settle all contributions before retirement. Meanwhile, Michael may need a term life insurance plan to cover the shortfall between his current life plan with a savings element and the actual needs of his family.


    Although Michelle is a housewife with no income, she should have a basic life plan that can protect the family finance against any mishaps. The coverage can be set as the family’s annual expenditure.


    Besides, Michael has to evaluate if the current group medical protection (for the whole family) offered by his company is sufficient. As corporate plans usually lack critical illnesses protection, Michael may buy one for his family. The earlier he has the plan in place, the lower the premiums will be. Of course, they have to review the plan regularly to ensure that they enjoy the most comprehensive protection.


    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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Manulife Financial Planning – The 3 Pillars

Start with the 3 pillars of financial planning. Once you have taken care of the future, you will have the peace of mind to live in the moment.

Build Your Wealth

Long-term planning for growing your wealth.

Protect Your Wealth

Expect the unexpected. Have a comprehensive backup plan, just in case.

Enjoy Your Wealth

Take an extra step to maintain the quality of life you want after your retirement.

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