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"It’s time to Rethink Retirement". This is the title for a report from Allianz on retirement study globally. A public copy is available from the link below

Ref: https://www.allianz.com/v_1363944313000/...h_2013.pdf

There was an article on The Edge, Dec 9 2013 issue, related to the report. The author had accessed more detail report, may be a paid version.

The findings, base on the both sources:

"A survey in Singapore revealed that 60% of the elderly still receive the most support from their families and that only a small portion of their income stems from the Central Provident Fund, the main pillar in Singapore. In addition, some retirees were able to take out a private pension – probably thanks to Singapore’s economic upswing – and are now drawing income from their accrued private savings."

"The Central Provident Fund (CPF) may be a mandatory savings scheme for all working-age Singaporeans, but it provides only an average of 2% of the disposable income in retirement for people in the city-state."

The study was done base on 2010 statistics, so CPF Life scheme was not included. But only 2% contribution from CPF for retirement is unexpected, even we knew CPF is not sufficient for retirement. The main contribution, 60% of it, still from family supports.

Financial freedom is becoming more relevant nowaday, not to get out of the rat-race, but to ensure sufficient support for retirement.

Being Asian, we would hope that our kids gives us pocket money as a good gesture.

However, non of us plan or hope to live based on our kids giving.

Most of the time, we should be sufficiently well off in our retirement.

Only thing that's worrying probably will be the escalated medical expenses. To mitigate this challenges, we need to start living a healthy lifestyle now.
It's never too late to start...
Go traveling... walk around... look see, look see


A Life not Reflected is a Life not Worth Living.

That explains why there is a 'sandwich' generation in their 40s.

On one hand, they have to support their young children. On another hand, they have to support their aged parents. It is a heavy burden.....

In the context of retirement,
It maybe better to invest your time & $$$ in create a passive income instead of raising kids.

(16-12-2013, 02:00 PM)funman168 Wrote: [ -> ]In the context of retirement,
It maybe better to invest your time & $$$ in create a passive income instead of raising kids.

When you get old, and if all you have is money, you may wish that you can turn back the time, and have some kids of your own.

(16-12-2013, 10:03 AM)CityFarmer Wrote: [ -> ]"The Central Provident Fund (CPF) may be a mandatory savings scheme for all working-age Singaporeans, but it provides only an average of 2% of the disposable income in retirement for people in the city-state."

The study was done base on 2010 statistics, so CPF Life scheme was not included. But only 2% contribution from CPF for retirement is unexpected, even we knew CPF is not sufficient for retirement. The main contribution, 60% of it, still from family supports.

Financial freedom is becoming more relevant nowaday, not to get out of the rat-race, but to ensure sufficient support for retirement.

2% is possible, if majority spend their CPF money unwisely. I.e., over commitment to property, wrong investment, etc. Not forgetting the high incomes also have cap for their CPF contribution.

Start thinking of retirement when you start work. That way, you don't spend too much. Too many temptations and very easy to spend and spend.

> To mitigate this challenges, we need to start living a healthy lifestyle now.
> It's never too late to start...
> Go traveling... walk around... look see, look see

Well said...

1. Regular exercise... 3-5 times a week. Swimming, jogging, brisk walking. Yoga, Cycling

2. Pick up wushu - Taichi and qigong is especially good. The energy generation and qi movement will clear the blocked qi.
When one practises taichi, one needs to focus... so the concentration and memory always stays.

3. Learn to use natural herbs. e.g. Sweet potato and pumpkin. For liver cleansing, use parsely.

4. Find a good TCM LOCAL practitioner - Such as the one in Thomson Imperial Court (JI SHENG TANG), next to thomson CC.
e.g. my oily scalp problem... - $24 for 2 bags of herbs last me 6 mths. And I can keep the medicine prescription...

(16-12-2013, 02:00 PM)funman168 Wrote: [ -> ]In the context of retirement,
It maybe better to invest your time & $$$ in create a passive income instead of raising kids.

It may be true to a certain extend and to a period of time. But most probably at the end of your time, if you are richer than you ever thought you can dream off, then you may realise all your effort of accumulating wealth is in vain. You still have to leave behind for somebody or someone.
What is better then leaving behind a legacy for your children? Though some of it may be to charity.

We all left behind our legacy...
The first definition from dictionary defines legacy narrowly as money and properties left behind...

I learn very early in my career that legacy has another meaning...
much more meaningful that $$ and properties.

I'm sure you felt this too.

Life is beautiful! Live life to the fullest!

Love Compassion