Anonymous
My financial planner from Prudential introduced me to PruGolden Retirement, and I wonder if anyone has a second opinion? ?
Basically I pay a premium of $10k annually for 26 years (till age 55), and between the age of 60 and 80, I will receive a guaranteed sum of $1,800 monthly + a variable bonus, depending on the performance of underlying fund. Although I can well afford it, I wonder about the opportunity cost and alternatives to such retirement plans? Or should I invest directly in the SGX (currently doing so, plus Roboadvisor)?
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Loh Tat Tian
07 Jun 2019
Founder at PolicyWoke (We Buy Insurance Policies)
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the guaranteed irr is 1.40%
compared to cpf, this is such a rubbish plan
you would expect higher guaranteed returns than cpf if you get plans from the "professionals"
most likely your agent is after the comms from your 10k annual premiums
better avoid this agent far far
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I think we can only better understand and compare the plan u have and opportunity cost, is to first ...
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I have just done a basic calculation with CPF interest rates.
If you are able to afford 10k a month into the endowment, you could have put that 10k into CPF and hit FRS easily by Age 55
At Age 55, you have a balance of $130k for withdrawal from Special Account.
This is a better option imho.
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