S'pore Sports Institute and SGX launch initiative to help athletes be financially smart

SINGAPORE – The Singapore Sports Institute (SSI) and the Singapore Exchange (SGX) have collaborated on a Financial Literacy Webinar Series to help equip athletes with the fundamental knowledge to better manage their personal finances and investments during their sporting careers and beyond.

All athletes and their family members are invited to participate in this free webinar series, which is also compulsory for all spexScholars.

Comprising five modules, the series will cover topics such as investment goals and strategies, building an income portfolio, and how to accumulate wealth in a disciplined manner.

SSI chief Toh Boon Yi said: “We are constantly on the lookout for ways to better support our athletes’ journeys both to the podium and in life. Through spexBusiness, we are excited to work with SGX on this new initiative.

“This is an ideal opportunity for our Team Singapore athletes to educate themselves on prudent financial management. This is an essential life skill, which would potentially serve them well in the years to come.”

Mr Michael Syn, SGX senior managing director and head of equities, said: “A centrepiece of this collaboration with SSI is empowering and encouraging Singapore athletes to embark on their financial literacy journey early.

“Time is an important factor when it comes to compounding wealth. As our athletes focus on training in pursuit of national sporting goals, SGX Academy will equip them with the knowledge to start investing and managing their finances early.”

Led by the SGX Academy, the series will provide a five-module programme twice a year through its online training platform and will focus on regular investing through discipline and perseverance.

Athletes can access the modules by logging in to the webinar via their phones, tablets and laptops and the first module will begin on Saturday (June 20). The subsequent sessions will be conducted on Saturdays from 2pm to 4pm.

National swimmer Joseph Schooling, who won gold at the 2016 Rio Olympics, said: “Being financial literate is an important life skill, as it will not only help us during our sporting career but for the rest of our lives. 

“This is a timely initiative which will go a long way to help us secure and safeguard our financial future.”

Contact the spexBusiness team at [email protected] for more information.

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