03-07-2014, 11:04 AM
I remember reading there is some clause provision somewhere saying the amount may not be a certainty.
http://www.sgpolitics.net/?p=3433
http://www.sgpolitics.net/?p=3433
03-07-2014, 11:04 AM
I remember reading there is some clause provision somewhere saying the amount may not be a certainty.
http://www.sgpolitics.net/?p=3433
03-07-2014, 11:30 AM
(03-07-2014, 11:04 AM)egghead Wrote:(03-07-2014, 10:23 AM)CityFarmer Wrote:(03-07-2014, 10:09 AM)freedom Wrote:(03-07-2014, 09:59 AM)egghead Wrote: Using CPF Life as an example. If $155,000 is able to generate $1,200 per month from 65 onwards for life, simply multiplying by 3 will get me $465,000 and $3,600 respectively. So why is $571,715 insufficient? think they are taking it as if most are just putting it into savings. that is what most people do. but i am rather curious what is "emerging affluent"
Dividend Investing and More @ InvestmentMoats.com
03-07-2014, 11:30 AM
SINGAPORE - The "emerging affluent" class, or those with $50,000 to $200,000 of investible assets, is one of the fastest-growing segments here and in the Asia Pacific, said Citibank Singapore.
About 500,000 are in this bracket here, and this segment is tipped to expand 10 per cent year-on-year in the next three years, according to market research agency Datamonitor. Their liquid assets are also projected to grow 10 per cent annually in the next three years
Dividend Investing and More @ InvestmentMoats.com
03-07-2014, 11:49 AM
Just some thots on retirement.
For $1m cash, at 1% pa FD = $10k = eat grass (now) For $1m cash, at 4% pa FD = $40k = good living (future) For $500k 8% REIT (low 20% gearing) & $500k 4% pa FD = $70k = damn good living. For $1m gross 3% property with 5% loan (50% LTV) = no retirement As time gets nearer to retirement, should have more cash %. I guess a lot of retirees switch from cash to property in reach for yield. Logical move in short term, may be a mistake for long term.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
03-07-2014, 11:51 AM
(03-07-2014, 11:30 AM)Drizzt Wrote: SINGAPORE - The "emerging affluent" class, or those with $50,000 to $200,000 of investible assets, is one of the fastest-growing segments here and in the Asia Pacific, said Citibank Singapore. mass affluent get what: - special queue in bank branches (no need) - targeted marketing for wealth mgt products. I will pass if I qualify.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
03-07-2014, 12:15 PM
(03-07-2014, 10:09 AM)freedom Wrote:(03-07-2014, 09:59 AM)egghead Wrote: Using CPF Life as an example. If $155,000 is able to generate $1,200 per month from 65 onwards for life, simply multiplying by 3 will get me $465,000 and $3,600 respectively. So why is $571,715 insufficient? There was ever once an endowment/annuity plan that can be a good retirement plan. The annuity payment starts when I am 65, paying until the day both my wife and I pass on. The guarantee return when I hit 80yr old, after collecting 15 annual payout, is around 3.3% pa based from the first premium I paid. Collect until age 90 will give a guarantee return around 3.6%pa. The insurer removed the plan after 1yr. From what I heard, as you said, it is not sustainable...
03-07-2014, 12:17 PM
(03-07-2014, 11:51 AM)opmi Wrote:(03-07-2014, 11:30 AM)Drizzt Wrote: SINGAPORE - The "emerging affluent" class, or those with $50,000 to $200,000 of investible assets, is one of the fastest-growing segments here and in the Asia Pacific, said Citibank Singapore. I maintain my mass affluent with one of the bank to allow me to exchange new notes faster during CNY period. Need not waste much time queuing.
03-07-2014, 12:24 PM
(03-07-2014, 11:04 AM)egghead Wrote:(03-07-2014, 10:23 AM)CityFarmer Wrote:(03-07-2014, 10:09 AM)freedom Wrote:(03-07-2014, 09:59 AM)egghead Wrote: Using CPF Life as an example. If $155,000 is able to generate $1,200 per month from 65 onwards for life, simply multiplying by 3 will get me $465,000 and $3,600 respectively. So why is $571,715 insufficient? They forget to add in their CPF Life, which going to give them around $1200 per month. (Mass Affluents should be able to hit minimum sum, I suppose?) Adding that in, using simple calculation, their $500,000 savings in bank will last them for 18yrs.
03-07-2014, 01:22 PM
(03-07-2014, 12:17 PM)NTL Wrote:(03-07-2014, 11:51 AM)opmi Wrote:(03-07-2014, 11:30 AM)Drizzt Wrote: SINGAPORE - The "emerging affluent" class, or those with $50,000 to $200,000 of investible assets, is one of the fastest-growing segments here and in the Asia Pacific, said Citibank Singapore. I have a way to avoid queuing for new bank notes if you have kids (collecting angbow), pay them their angbow money in cheque into bank and keep the notes for next year, usually pretty new and neat... If you want it flat, put it into a book and stack it below something hard. I only queue once for new notes, probably 12 years ago...
03-07-2014, 01:53 PM
Some basic parameters and assumptions about retirement:
A) No mortage to pay ( all properties ) B) No car loans to pay ( but still have car) C) No dependants ( kids grown up, parents in heaven ) D) No severe health issues ( maybe high blood pressure, high cholesterol ) To me these parameters determine retirement. As such, the expenditure per month could be: 1. Utilities ( electric & water )$300 2. Service & conservancy $300 ( HDB less ) 3. Internet $60 ( no cable movies ) 4. Mobile phone $30 5. Car petrol,parking etc $300 6. Medication, health checks $200 7. Food $500 ( eat out & home cooked ) 8. Insurance $100( Medishield LIFE, over estimated ) 9. Holidays $700 ( 1 short, 1 long per year) The total here is $2,490 for 1 person. Even if we factor in ang pows etc the total sum will still be under $3,000. If retirement begins at 55 and assuming we live till 80, its 25 years. $2,500 x 12 = $30,000 per year $30,000 x 25 = $750,000 With the minimum sum ( CPF LIFE ) added, the sum of $750,000 is sufficient to retire on. Inflation fluctuates.. between 2% & 5%... and the monthly sum is not static. it reduces as we age and consume less. We may forgo the car, the air con... etc. this should compensate for inflation too. And if we delay retirement till 60,65... the amount is certainly more than enough... even with a maid. Time to close the thread |
« Next Oldest | Next Newest »
|