On 29 January 2025, the Year of the Snake begins. The Chinese New Year is celebrated across Singapore with festive lighting displays, lanterns, street parties, and more. It’s a wonderful time to immerse yourself in the culture here in Singapore, whether you’ve lived here for many years or are new to the Lion City.
Each sign of the Chinese zodiac has its own unique traits and characteristics. These could give clues about what to expect for the year ahead. So, read on to find out more about what the Year of the Snake could hold for you and your finances.
1. Reflect on your goals to ensure you’re working towards something you believe in
The snake is a figure that tends to focus inward rather than being concerned with what others are doing or thinking. As such, it’s a great time to reflect on the goals you’re working towards to clarify that they are still what you want from life.
Over the course of your life, what you want and value most can change. As such, what you wanted your retirement to look like 10 years ago might not quite align with your priorities now.
It’s also easy to be swayed by what your friends and colleagues are doing. Just because a certain lifestyle suits them, though, doesn’t mean it will bring you joy or contentment.
With all this in mind, in 2025, resolve to turn inwards. Reflect on the moments in your life that have made you feel:
- Proud
- Accomplished
- Inspired
- Content
Now, how can you make sure that your lifestyle today and in retirement allows you to experience more moments like this? Factor these ideas into your financial plan to ensure you save and invest enough to be able to achieve your goals.
2. Patient and methodical planning could pay off this year
In the Chinese zodiac, the snake is a wise animal known for its cunning, and for taking calculated action. It’s also viewed as a patient being, biding its time until the optimum moment to strike.
These qualities translate well to managing your finances. Planning ahead and taking a strategic approach can help you avoid making rash decisions in the heat of the moment.
Moreover, by continuing to keep your long-term goals in mind throughout the year, you could find it easier to tune out the noise of the headlines and make sensible choices that help you fulfil your ambitions.
3. Follow your head rather than your heart
As well as being cunning, the snake is seen as wise and intellectual. People who are born in the Year of the Snake usually think things through and never let their emotions cloud their judgement.
This is a sensible strategy to follow when making investment decisions in 2025 and beyond. Volatility is inevitable on the stock market, and financial headlines can strike fear or panic into even the most seasoned investors. Emotions like this can be powerful drivers. If left unchecked, you could find that your investment decisions start to be influenced by the emotions triggered when you read those headlines.
Instead, notice the emotions that the headlines are creating for you and remind yourself that volatility is a normal part of investing. The short-term fluctuations in value are far less important than the long-term potential your portfolio has to grow.
Once you’ve observed how you are feeling, think back to the plan you made at the beginning of the year and remind yourself of the steps you decided to follow to achieve your goals.
4. Wealth accumulation is achievable, but it will take time
In the Chinese zodiac, the snake also symbolises wealth as a result of long-term, careful saving. Using the aforementioned cunning and wisdom, the snake takes considered steps towards their goals, avoiding rash decisions or the kind of get-rich-quick schemes that can ultimately hinder your wealth accumulation. So, in 2025, be sure to prioritise regular saving and investment contributions, and don’t be swayed by those who promise high returns with little or no risk.
That’s not to say you shouldn’t take risks in 2025. After all, avoiding risk entirely can mean you miss out on the opportunity for growth and returns. Instead, during the Year of the Snake, make sure you take risks that are aligned with your goals, circumstances, and attitude to risk.
You can mitigate risk by diversifying your portfolio and investing in a range of asset types and classes in different locations around the world. Consequently, if one investment underperforms, your other investments may be able to counter this.
5. 2025 could be a year for transformation or rebirth
Snakes famously shed their skin throughout their lives, and as such are associated with transformations and even rebirth. It’s a helpful reminder that bad times don’t last, and this mantra could apply to many different areas of your life.
From a financial standpoint, it could be useful to keep this in mind during periods of uncertainty in your life. Events such as illness, losing a loved one, or divorce can all have a negative effect on your wealth, which can be nerve-wracking. But, though these events are out of your control, you can choose how to respond to them. Putting plans in place to protect your wealth ahead of time could help if the worst should happen. Moreover, consulting your planner for guidance can help you to continue to make the most sensible financial decisions and ensure your continued financial wellbeing.
