Not too long ago, I met a client who purchased the most horrible retirement product on planet earth. Apparently, his relationship manager used a Universal Life policy as a retirement product. The internal rate of return (IRR) ranges from -3.29% (and the policy terminates after 11 years of payout) to 2.69% (which the policy has still cash value after 15 years of payout). The upper limit of the … [Read more...]
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CPF Withdrawal method to create a 2nd stream of passive income
Those who met the CPF Full Retirement Sum (FRS) are allowed to withdraw their CPF monies above the FRS. But what many did not know is that it is not necessary to withdraw in one lump sum. Instead, the CPF withdrawal can be made over a period of time. Using this method, it is possible to create a second stream of passive income. The first stream of passive income is the CPF Life. Thus, I have … [Read more...]
Try this calculator for Supplementary Retirement Scheme (SRS)
If you are looking for the SRS calculator, please scroll down to the end of this article. The Supplementary Retirement Scheme or SRS for short is a tax deferred scheme. In this tax deferred scheme, tax benefits are enjoyed immediately through income tax relief upon contribution to the SRS account. The annual contribution is up to $15,300 and $35,700 for Singapore citizens/PRs and foreigners … [Read more...]
Tips in selecting a Universal Life
Stroll down to the end of this page if you are looking for the Universal Life Calculator I created. Universal Life products are often marketed to the high networth individuals. It appears to be very popular in Singapore and Hong Kong. I always get enquires from individuals in these two countries seeking my second opinion. 1. How to get proper documentation on Universal Life? Many financial … [Read more...]
FREE personalised retirement planning analysis report for those 40 & above
I created a new retirement planning tool for those who are 50 and above to help them plan for their retirement. This new tool is FREE. The tool is capable of generating automated preliminary assessment so that you will know immediately whether are you able to retire. This article explains the limitations of existing retirement planning tools commonly used by the financial industry and a … [Read more...]
Are you overspending? Use this calculator to find out
I have made a calculator to help you find out whether are you overspending. This calculator is based on the "Report on the Household Expenditure Survey 2012/13 Table 38" by the Department of Statistics Singapore. In this calculator, you basically are required to specify how many individuals are staying with you and as well as your property type. The calculator will show you the average household … [Read more...]
