Financial Planning for Gig Economy Workers in Singapore
Elective: Specialized Planning for Non-Traditional Income
The gig economy comprises many potential client segments by income, from low-income platform workers to high-income freelance consultants. This module equips learners with knowledge and competencies to navigate complexities of financial planning for gig economy workers.
Module Focus:
Financial planning strategies for gig economy workers, self-employed individuals and professionals.
GCE 'A' Level (2 'A's and 2 'O's) or Diploma + 3 years relevant working experience
📜 Part of Certification: This is an elective module. Choose either Module 6A or 6B for certification.
The Challenge
Gig workers face unique challenges - irregular income, lack of CPF contributions, no employer benefits, and exposure to market uncertainties. Traditional financial planning approaches don't address these realities effectively.
The Solution
Learn to address income and savings irregularities, structure product solutions suited to variable income streams, and guide gig workers towards long-term financial security despite unique challenges they face.
Key Outcomes
Address challenges of income and savings irregularities facing clients in the gig economy
Structure product solutions suited to variable income streams, including retirement security planning
Guide gig workers towards long-term financial security despite lack of CPF contribution and irregular income
What You'll Learn
Gig Economy Landscape
- •Understanding Singapore's gig economy ecosystem
- •Different client segments: platform workers to consultants
- •Income patterns and volatility analysis
- •Market uncertainties and business environment
Financial Planning for Variable Income
- •Strategies for irregular income management
- •Savings approaches for volatile earnings
- •Cash flow planning for self-employed
- •Integrating government support schemes
Retirement & Investment Planning
- •Retirement planning without CPF contributions
- •Building financial security for future exit
- •Investment strategies for gig workers
- •Supplementary savings options and structures
Holistic Planning & Relationship Management
- •Estate planning for self-employed professionals
- •Document collection and analysis frameworks
- •Building credibility and trust with gig clients
- •Managing and resolving client issues effectively
Who Should Attend?
Course Fee & Funding
Contact Us for Course Fee Information
This module is part of the SCFP-HNWI certification program. Contact us for detailed pricing and IBF funding information.
Funding:
This course has been accredited under the Skills Framework for Financial Services and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met. Participants are advised to assess the suitability of the course and its relevance to his/her business activities or job roles.
The IBF-STS is available to eligible entities and individuals based on the prevalent funding eligibility, quantum and caps. IBF-STS provides up to 70% course fee subsidy support for direct training costs subject to a cap of S$3,000 per candidate per course subject to all eligibility criteria being met.
Find out more on www.ibf.org.sg.
Frequently Asked Questions
Ready to Earn Your SCFP-HNWI™ Certification?
This module is part of the complete SCFP-HNWI certification program. Register your interest to secure your place in the inaugural cohort.