See some cartoons on Singapore political life at:
http://www.sg-quitters.blogspot.com/
Tuesday, February 1, 2011
FINANCIAL PLANNING TOOL
You can use this tool to prepare your personal financial plan. You have to enter your past savings and your regular monthly savings from now. The tool will project your savings at your retirement age based on different yields. This is then converted into the monthly amount that you can draw down over 20 years of your retirement.
The figures are shown before and after adjusting for inflation. The adjusted figures show you what what your retirement income is really worth.
You will also see the impact caused by different investment yields. It is important for you to earn a yield that is 2% higher than inflation rate. Do not be trapped in a low yielding investment.
This financial plan is suitable for people of all ages. It is important for the young people to follow the right financial plan and make the right investment for their future. Those nearly retirement can also adopt the right approach for their past savings.
The tool is available here: http://projects.easyapps.sg/life21d/Planning.aspx. Please introduce your friends and family members to
use this tool. It is critical for their financial future!
Tan Kin Lian
President, FISCA (www.fisca.sg)
The figures are shown before and after adjusting for inflation. The adjusted figures show you what what your retirement income is really worth.
You will also see the impact caused by different investment yields. It is important for you to earn a yield that is 2% higher than inflation rate. Do not be trapped in a low yielding investment.
This financial plan is suitable for people of all ages. It is important for the young people to follow the right financial plan and make the right investment for their future. Those nearly retirement can also adopt the right approach for their past savings.
The tool is available here: http://projects.easyapps.sg/life21d/Planning.aspx. Please introduce your friends and family members to
use this tool. It is critical for their financial future!
Tan Kin Lian
President, FISCA (www.fisca.sg)
How to find a good lawyer
If you need to find a good lawyer who charges a reasonable fee, you can follow the guidance given in this FAQ:
www.tankinlian.com/latest.aspx
http://tankinlian.com/admin/file.aspx?id=376
www.tankinlian.com/latest.aspx
http://tankinlian.com/admin/file.aspx?id=376
Climate of Fear
Dear Mr. Tan
I wish to share the following:
1) " When the people fear their government, there is tyranny; when the government fears the people, there is liberty."
Thomas Jefferson (1743-1826)- 3rd President of USA
Source: http://jpetrie.myweb.uga.edu/
and also
Source: http://quotes.liberty-tree.ca/
2) " Every government degenerates when trusted to the rulers of the people alone. The people themselves, therefore, are its only safe depositories."
Thomas Jefferson (1743-1826)- 3rd President of USA
Source:
http://quotes.liberty-tree.ca/
I wish to share the following:
1) " When the people fear their government, there is tyranny; when the government fears the people, there is liberty."
Thomas Jefferson (1743-1826)- 3rd President of USA
Source: http://jpetrie.myweb.uga.edu/
and also
Source: http://quotes.liberty-tree.ca/
2) " Every government degenerates when trusted to the rulers of the people alone. The people themselves, therefore, are its only safe depositories."
Thomas Jefferson (1743-1826)- 3rd President of USA
Source:
http://quotes.liberty-tree.ca/
Weak consumer protection in Singapore
The legal system in Singapore benefits the lawyers and business corporations that can afford lawyers. Consumers are badly treated in Singapore and they do not have redress. This leads to poor social justice in Singapore.
Here are the legal systems in other countries that have protection for consumers:
a) In USA, they allow lawyers to act on contingency fee. If the consumer has a strong case, the lawyers are willing to take up the case (and incur the risk of losing the case) to help the consumer to seek redress. They usually take 30% of the damages, but they will not act for a frivolous case as they waste their time. The court will not require the litigant (usually the consumer) who loses the case to bear the legal cost of the defendant (usually the business corporation).
b) In the UK, the Legal Aid Bureau will engage the lawyer to fight for the consumer (but perhaps only for cases with merit). The bureau pays the legal fees, and not the consumer.
Most countries have agencies that fight strongly to protect the consumer rights. In the USA, the attorney generals (employed by the government) will take up cases on behalf of consumers, if they consider that consumers have been cheated. Their legislature (or Parliament) has law makers who spend time to look into these matters. The attorney general and legislators know that they are accountable to the people.
The situation in Singapore is bad for consumers. Even if consumers have a strong case, they are afraid to take it up as the legal fees are exorbitant. They are also worried that, if they lose the case, they will have to pay the legal fees of the big corporations (and these are even more exorbitant). Consequently, when consumers are badly treated and are ripped off, they can only suffer in silence. Such is the state of social justice in Singapore.
Business corporations are imposing excessive charges and selling bad products to consumers - with impunity. They know that consumers (except the multi-millionaires) cannot afford to take them to court. Our MPs are too busy to take up these matters in Parliament.
I hope that the next general election will produce a different kind of political system in Singapore and that the weakness in the legal system can be addressed.
Tan Kin Lian
Here are the legal systems in other countries that have protection for consumers:
a) In USA, they allow lawyers to act on contingency fee. If the consumer has a strong case, the lawyers are willing to take up the case (and incur the risk of losing the case) to help the consumer to seek redress. They usually take 30% of the damages, but they will not act for a frivolous case as they waste their time. The court will not require the litigant (usually the consumer) who loses the case to bear the legal cost of the defendant (usually the business corporation).
b) In the UK, the Legal Aid Bureau will engage the lawyer to fight for the consumer (but perhaps only for cases with merit). The bureau pays the legal fees, and not the consumer.
Most countries have agencies that fight strongly to protect the consumer rights. In the USA, the attorney generals (employed by the government) will take up cases on behalf of consumers, if they consider that consumers have been cheated. Their legislature (or Parliament) has law makers who spend time to look into these matters. The attorney general and legislators know that they are accountable to the people.
The situation in Singapore is bad for consumers. Even if consumers have a strong case, they are afraid to take it up as the legal fees are exorbitant. They are also worried that, if they lose the case, they will have to pay the legal fees of the big corporations (and these are even more exorbitant). Consequently, when consumers are badly treated and are ripped off, they can only suffer in silence. Such is the state of social justice in Singapore.
Business corporations are imposing excessive charges and selling bad products to consumers - with impunity. They know that consumers (except the multi-millionaires) cannot afford to take them to court. Our MPs are too busy to take up these matters in Parliament.
I hope that the next general election will produce a different kind of political system in Singapore and that the weakness in the legal system can be addressed.
Tan Kin Lian
Citibank survey - Singaporeans like whole life policies
http://www.channelnewsasia.
Hi Mr Tan, looking at the responses to the survey, many still depend on whole life plans for retirement funds. More Singaporeans should read your blog!
REPLY
It is true that many people are still buying whole life policies. I need my blog readers to help spread the message through facebook, twitter, etc. Are you able to spend time to help me in this task?
MESSAGE TO OTHER READERS OF THIS BLOG
You can tell your friends through Facebook to get them to read specific articles in my blog. And ask them to spread the message to other people through their Facebook contacts. All you need to do is to read my blog daily and identify the articles that you can spread around through your channels. We need more people to work together to spread the message.
Hi Mr Tan, looking at the responses to the survey, many still depend on whole life plans for retirement funds. More Singaporeans should read your blog!
REPLY
It is true that many people are still buying whole life policies. I need my blog readers to help spread the message through facebook, twitter, etc. Are you able to spend time to help me in this task?
MESSAGE TO OTHER READERS OF THIS BLOG
You can tell your friends through Facebook to get them to read specific articles in my blog. And ask them to spread the message to other people through their Facebook contacts. All you need to do is to read my blog daily and identify the articles that you can spread around through your channels. We need more people to work together to spread the message.
The Quest for Dignity
Read this article
http://www.nytimes.com/2011/02/01/opinion/01brooks.html?_r=1&emc=eta1
http://www.nytimes.com/2011/02/01/opinion/01brooks.html?_r=1&emc=eta1
It seems that there are some similarities between Singapore and the governments that have fallen, i.e. governments that stay too long in power, ignore the opinion of their citizens and do not practice democracy and openness. But there are also differences, so will the Singapore system continue to survive?
Also, read SGEP
Also, read SGEP
Income inequality - a lesson for Singapore
14:54 01Feb11 RTRS-UPDATE 1-Global imbalances returning, could fuel unrest: IMF chief
By Kevin Lim
SINGAPORE, Feb 1 (Reuters) - The world economy has begun improving but is beset by problems such as high unemployment and rising prices which could fuel crippling trade protectionism or even lead to war within nations, the head of the International Monetary Fund warned on Tuesday.
Rising food and fuel prices in recent months have already hit poorer countries and are one of the factors behind massive anti-government protests in Egypt and in Tunisia, whose president was ousted last month. [ID:nLDE71000N]
Read the article in:
http://uk.reuters.com/article/2011/02/01/singapore-imf-idUKL3E7D10C420110201
UPDATE 2-Joblessness, rising prices could spark war within nations: IMF chief
Solicitors Naas
olicitors Naas is a new solicitors firm which will commence practice in early March, 2011. Solicitors Naas will be present in Naas Court to deal with and assist you in any difficulties you might have across a wide range of law categories including
- Criminal defence
- Road traffic offences
- Business law
- Civil litigation
- Personal injuries
- Employment law
- Wills and probate
- Debt collection
- Landlord and tenant and more.
Solicitors in Naas
So if you are looking for solicitors in Naas who will represent YOUR interests fearlessly in a professional, ethical and cost effective way look no further.
Climate of Fear
"First They Came for the Jews"
By Pastor Niemoller
First they came for the Jews and I did not speak out because I was not a Jew.
Then they came for the Communists and I did not speak out because I was not a Communist.
Then they came for the trade unionists and I did not speak out because I was not a trade unionist.
Then they came for me and there was no one left to speak out for me.
Family Life 1.1
Learn the skill of making the right decisions to lead a successful life.
http://projects.easyapps.sg/fl/
http://projects.easyapps.sg/fl/
Bad experience with M V Land
I sent this letter by fax to the directors of M V Land on 26 January. They did not acknowledge or reply to my letter after 5 days. They have been imposing a lot of troublesome requirements to other people, but when it comes to giving a reply, they are not able to cope. This is typical of many organisations in Singapore, and reflects a culture of high handedness and arrogance.
I had another bad experience today. They told my staff that I had to submit a copy of my log card to apply for a season pass. Many places do not need the log card, but they insisted "as it is their policy". I do not know where I kept my log card, so I visited their office to offer my certificate of insurance.
I had to wait for half an hour as their staff was busy attending to another owner. When I was attended, the staff did not bother with the log card or the insurance certificate, If this was not necessary, I could have sent my application by mail. I protested about this waste of my time. The staff was apologetic, but nothing will be done to change this bad practice.
This is typical of Singapore - troublesome requirements, unnecessary work, blind adherence by the staff who follow instructions set in the ivory tower. This used to be the purview of the government agencies, but commercial organisations have now caught this disease!
I had another bad experience today. They told my staff that I had to submit a copy of my log card to apply for a season pass. Many places do not need the log card, but they insisted "as it is their policy". I do not know where I kept my log card, so I visited their office to offer my certificate of insurance.
I had to wait for half an hour as their staff was busy attending to another owner. When I was attended, the staff did not bother with the log card or the insurance certificate, If this was not necessary, I could have sent my application by mail. I protested about this waste of my time. The staff was apologetic, but nothing will be done to change this bad practice.
This is typical of Singapore - troublesome requirements, unnecessary work, blind adherence by the staff who follow instructions set in the ivory tower. This used to be the purview of the government agencies, but commercial organisations have now caught this disease!
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