01 Jul 2020
Looking for monthly payout of S1000-$1200 for retirement
Learn how to style your text
Thanks and appreciated the feedbacks on InvestReady - Wealth
Am currently looking at putting in 100-150K for my retirment plan.
Targetting monthly payout for 20 years starting from age 65. Monthly payout $1200 achievable ? Any recommendations for considerations ?
View 4 replies
29 Jun 2020
Independent Financial Advisor at Phillip Securities (Jurong East)
InvestReady - Wealth, as the name suggests, is an investment linked plan, with which there are no guarantees on your returns in any form. If you were looking at something guaranteed or safe, then such plans do not suit you.
The pros of Investready wealth are that you may add waiver riders so that premiums will continue to be paid if something happens to you, and that your capital is protected as there is a death benefit of 101% of the premiums paid at a minimum. However, charges on the product will be 2.5% for the first ten years. As you will be buying into funds, there are no guarantees of any form, including on the dividend payout.
A safer option for you would be a retirement plan to supplement your CPF LIFE; these can take the form of a lifetime income plan, or a drawdown retirement plan, depending on your preference.
Hariz Arthur Maloy
28 Jun 2020
Independent Financial Advisor at Promiseland Independent
Hi Anon, I would definitey not recommend IR-Wealth for a retirement plan.
At your age, you should c...
Read 2 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts