Read this article,
My view.
It seems that the average amount that most people need for retirement in the USA is $1 million. I suppose that this include the value of the house. A similar amount will be needed in Singapore, i.e. $500,000 as value of house and $500,000 cash for retirement. At 4% yield (hopefully), $500,000 will produce $20,000 a year or $1,600 a month. This is similar to what most people comments in an earlier article in my blog.
However, if I am mistaken and most people expect $1 million cash on top of a fully paid house, then they are looking at monthly expenses of $3,200.
Tuesday, April 13, 2010
Confidence in leaders
Dear Mr. Tan,
I fully agree with an article on your blog (The future of our country). I have very little confidence in the next generation of leaders. All of them have never contested in a fair and open election, thanks to the grossly unleveled playing field (eg. GRC, ruling party's use of the entire govt machinery against the opposition party cadres, heavily biased and tightly controlled mainstream media).
How can they claim to represent the people if they are not elected by the people? This explains why they don't have any clue what the people feel/think. They just enact policies according to their liking. They think they know best. They don't have the decency to apologise when they are wrong.
This sad state of affairs worries me. I now seriously wonder if I should get PR status in say Australia. Having a team of "strawberry" leaders, who make policies out of an ivory yower, steering this country scares me like hell.
I fully agree with an article on your blog (The future of our country). I have very little confidence in the next generation of leaders. All of them have never contested in a fair and open election, thanks to the grossly unleveled playing field (eg. GRC, ruling party's use of the entire govt machinery against the opposition party cadres, heavily biased and tightly controlled mainstream media).
How can they claim to represent the people if they are not elected by the people? This explains why they don't have any clue what the people feel/think. They just enact policies according to their liking. They think they know best. They don't have the decency to apologise when they are wrong.
This sad state of affairs worries me. I now seriously wonder if I should get PR status in say Australia. Having a team of "strawberry" leaders, who make policies out of an ivory yower, steering this country scares me like hell.
Financial Planning for a young person
Hi Mr Tan,
I am an avid follower of your blog. I like your advice, usually neutral and conservative which suit me.
I would like to ask for some advice from you about purchasing of my first life and health insurance. I recently decided to buy insurance from a friend. He didn't approach me rather it was me who approach him.
I am a 24 year old male. I am healthy I guess without much problem. I want to buy insurance from protecting my family from financial catastrophe. I have do some reading about insurance but I think its still not enough for me to evaluate any insurance plan well. After going through my financial, my friend/agent came back to me with 3 plans, one is term insurance, one is saving type insurance, the last is investment linked. (Details of three plans provided)
My question is, am I paying too much premium? Am I covering too much? The CPF portion seems to be taking quite a lot of money away?
REPLY
I suggest that you buy my book, Practical Guide on Financial Planning, to read about the fundamentals of financial planning. It also explains why you should not buy any whole life or investment linked policy - as the distribution cost is too high.
You can buy the book here:
www.easysearch.sg/ishop
You should buy term insurance. The best type is from Aviva (SAF) or NTUC (SAFRA insurance). You can get a comparision of the cost here.
http://www.easysearch.sg/Admin/File.aspx?id=19
I am an avid follower of your blog. I like your advice, usually neutral and conservative which suit me.
I would like to ask for some advice from you about purchasing of my first life and health insurance. I recently decided to buy insurance from a friend. He didn't approach me rather it was me who approach him.
I am a 24 year old male. I am healthy I guess without much problem. I want to buy insurance from protecting my family from financial catastrophe. I have do some reading about insurance but I think its still not enough for me to evaluate any insurance plan well. After going through my financial, my friend/agent came back to me with 3 plans, one is term insurance, one is saving type insurance, the last is investment linked. (Details of three plans provided)
My question is, am I paying too much premium? Am I covering too much? The CPF portion seems to be taking quite a lot of money away?
REPLY
I suggest that you buy my book, Practical Guide on Financial Planning, to read about the fundamentals of financial planning. It also explains why you should not buy any whole life or investment linked policy - as the distribution cost is too high.
You can buy the book here:
www.easysearch.sg/ishop
You should buy term insurance. The best type is from Aviva (SAF) or NTUC (SAFRA insurance). You can get a comparision of the cost here.
http://www.easysearch.sg/Admin/File.aspx?id=19
Monday, April 12, 2010
Asian economies urged to raise interest rate
Asia’s developing nations are recovering strongly from the global financial crisis, but should now start raising interest rates and adopt more flexible exchange rate policies, the Asian Development Bank said in a major report Tuesday.
http://www.nytimes.com/2010/04/14/business/global/14asiaecon.html
My comment:
When interest rate is raised, you can expect property and stock markets to correct from their current level, which is a bubble caused by low interest rate.
http://www.nytimes.com/2010/04/14/business/global/14asiaecon.html
My comment:
When interest rate is raised, you can expect property and stock markets to correct from their current level, which is a bubble caused by low interest rate.
Survey - expenses of a retired couple
How much does a retired couple have to spend each month to live in Singapore? Give your views in this survey.
I estimate that the expenses for a retired couple with a home for an adequate lifestyle is $1,200 a month and the bare minimum is $800. What do you think?
I estimate that the expenses for a retired couple with a home for an adequate lifestyle is $1,200 a month and the bare minimum is $800. What do you think?
Defamation and fear
Singaporeans are so afraid to express any opinion, as they fear that any negative opinion about any person or organisation can be considered as defamtory. What a shameful state of affairs. How has the country got into this state?
Tan Kin Lian
Tan Kin Lian
The future for our country
A met a nurse at a wake. I said that the current government had done a lot of good for the people and the country during the first 30 years after independence. During the next 15 years, the policies have been bad for the people, as they led to high cost of living, stagnant wages and wide disparity of income. The government leaders are not working for the welfare of the people and appear to be looking after the intrest of big business and their own interest.
Most people have been quite unfair in judging the "poor quality" of the opposition politicians, as their main source of information is the mainstream media.
I know many of these politicians personally and appreciate their personal sacrifices in being willing to take a stand against the ruling party. Many of them are quite well educated and decent people, quite moderate in their thinking and feel strongly for Singapore. Some people think that they only appear at election time. This is not true. They do spend time on the ground work, but are not reported in the media. We must remember that they have to make a living and have to face difficulty in the business or at work.
She was surprised at my frankness. She started to express her own feelings of doubt about the future of our country and the direction that it is heading. She lamented that many Singaporeans are not able to think about what is good for the country and are afraid to think differently from what has been told to them in the media.
Tan Kin Lian
Most people have been quite unfair in judging the "poor quality" of the opposition politicians, as their main source of information is the mainstream media.
I know many of these politicians personally and appreciate their personal sacrifices in being willing to take a stand against the ruling party. Many of them are quite well educated and decent people, quite moderate in their thinking and feel strongly for Singapore. Some people think that they only appear at election time. This is not true. They do spend time on the ground work, but are not reported in the media. We must remember that they have to make a living and have to face difficulty in the business or at work.
She was surprised at my frankness. She started to express her own feelings of doubt about the future of our country and the direction that it is heading. She lamented that many Singaporeans are not able to think about what is good for the country and are afraid to think differently from what has been told to them in the media.
Tan Kin Lian
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