CPF Private Pension Plans to be revisited? Some Singaporeans have been pressing the government to give a higher return in their CPF savings. Perhaps under pressure, Deputy Prime Minister Tharman Shanmugaratnam surprised participants[1] of the Institute of Policy Studies forum on CPF and retirement adequacy that for those who can shoulder higher risks and want higher returns, the CPF private … [Read more...]
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It’s too late to do retirement planning when old, says Citi-SMU
According to Citi-SMU (SingaporeManagement University) symposium on financial Literacy for young adults, it is important to start managing one's finances when young. This is because picking up financial literacy is more suited when one is young. When you are old, "you can't teach old dogs new tricks". Financial literacy means the ability to understand and process economic information. Thus, it … [Read more...]
(Obsolete)CPF Life Standard default plan is the worst of the two (22 June 2017 update to the new booklet)
This article is obsolete. See the following article for the updated one: HERE. Question: "Wilfred, can you take a few minutes to look at an example of a CPF life annuity plan generated using the CPF LIFE Payout Estimator? A typical screenshot is as attached. Look at the big gap between the bequest amount and the little difference in the monthly payout. Did I overlook something as the Basic plan … [Read more...]
An analysis of Blackrock Global Equity Income Fund
You will see Blackrock Global Equity Income Fund being advertised aggressively in Straits Times, billboards at Raffles Place MRT station. They have also created a BlackRock MRT Nets Flashpay card! This article will provide a simple analysis of the Blackrock Global Equity Income Fund. The Blackrock Global Equity Income Fund is a global equity fund which is benchmarked against the MSCI AC … [Read more...]
73% underestimate the retirement savings needed, says DBS
A DBS survey of 800 people showed that: 73 per cent of the people polled plan to retire between 55 and 65, with an average savings of $571,715. At the same time, more than 85 per cent of those polled expect to live on a retirement income of $3,500 per month for the next 15 to 20 years and more. But DBS said that there is a big gap between both sets of numbers as the average savings would … [Read more...]
Only 1 in 3 think they can retire at their preferred age, says Aviva
A survey conducted by Aviva Consumer Attitudes Feb 2014 found that: Only 1 in 3 think they can retire at their preferred age 53% worry that they cannot afford an adequate standard of living in retirement 56% think they’ll need $2000 to $6000/month in retirement But 48% say they’ll only have <$2,000/month based on their retirement plan The Aviva Consumer Attitudes Survey also found … [Read more...]
Improving the success rate of the retirement portfolio
Because you wouldn’t want to sell tissue This is a follow-up article from the previous article I wrote on "Retirees, here is an example of converting capital gains to an income stream". Professional financial planners have been debating ways to improve the success rate of the retirement portfolio. ‘Success’ is defined as the retiree not outliving his or her resources. The success rate of … [Read more...]
Analysis of PruGolden Income Premier, Aviva MyIncomePlus and others
This is an article on how to analyse retirement products specifically single premium types. A typical retirement product is manufactured by insurance company. Typically when you buy a retirement product you will consider the following: The period of ‘accumulation’ phase and the length of ‘payout phase’. Whether is the premium single premium or regular premium? Whether the payout is … [Read more...]
TM Retirement PayCheck vs PruGolden Income
TM Retirement PayCheck and PruGolden Income are both retirement products. These products are regular premium. In this article, I will provide a comparison between these two products against the regular premium competitions namely Aviva MyRetirement and NTUC Income SAIL (RP). If you are looking for single premium retirement products, please refer to this blog article: Analysis of PruGolden … [Read more...]
Retirees, here is an example of converting capital gains to an income stream
This will save you the headache of chasing dangerous products that have high dividend yields I have written a number of articles on why it is important to focus on total return instead of just looking at dividend yield of an investment. I even did a video on this. In this article, I want to provide an example of why total return approach is important for a retiree. It is a practical example … [Read more...]
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