Asked on 05 Nov 2019
I am currently 56. What are your thoughts on the RetireWise Bundle?
If you are referring to the RetireWise package as per this link:
What MoneyOwl is basically saying is that they'll put together a package consisting of
A retirement insurance plan to give you guaranteed income
Eldershield supplement to increase your disability payout, combined with additional payout from (1)
An investment (of what sort, I do not know, but sounds like UTs or ETFs) with RSP to build a secondary stream of variable income which is intended to be encashed when (1) ends.
Optimizing of your CPF (with their special tool)
Disclaimer: I'm not from MoneyOwl, and they do recommend you speak to them since the website can't possibly cover all permutations. What you see is merely a sample.
In short, it's just retirement planning, with their strategies and methodologies.
Now there's no right or wrong to retirement planning, but you'll want to sit down to work things through with an advisor you are comfortable with; to craft a strategy that will work for you and you alone; the wrong moves can potentially devastate your portfolio and reduce your paychecks and playchecks. The nuances of retirement planning can be far more complex than what most people think.
If you have any questions, feel free to reply to this post.
Hi Anon, I think you should be asking MoneyOwl this question because not many would be familiar with their RetireWise bundle.
If you want a second opinion, then you may want to speak to another Independent Financial Advisor to find out what else is available.
But the same principles apply, you want a guaranteed stream of income during your retirement years to complement CPF Life.