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Retirement

Making sure you have enough for the later years

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Retirement

CPF

The SA floor interest is reviewed yearly so you are right to say that it can change in future. I would instead look at the approach of looking at your assets and determining how much you would project to have in both guaranteed and variable asset classes by your retirement age. Let me share a little more about my own plan. If you are comfortable to have your monies locked up in CPF, then CPF SA top ups can be one option to help you reach FRS faster. I am doing this myself as I am also looking at the tax savings and banking on the compounding effect of contributing more when I am still young. Seperately I do have a private annuity as I retain control of when I receive my retirement income, as well as for how long. This will not be impacted by any changes to CPF regulations. I am also ensuring that I have additional long term care coverage as my annuity has that feature build in. (Careshield life might not be enough for me) These two items form the cornerstone of my guaranteed income sources in retirement. Based on my calculations with provisions for inflation they will more than adequately provide for my needs. For my wants, I have stocks and UT, but as there are no guarantees on those, I won't elaborate too much, other than to say that even if I make wrong investment decisions, I still have CPF and my annuity to fall back on. If you'd like to get an opinion on your strategy of efficiently deploying your funds into the various asset classes, feel free to reach out to me at [email protected]

Stocks Discussion

Robo-Advisors

Investments

Retirement

Savings

Hi Darren, My name is Dhruv Arora, and I’m the founder and CEO of Syfe. Thanks for your interest in finding out more about Syfe. My experience as both an investment banker and then a consumer technology expert was a building block at Syfe - we always wanted to bring the best of financial services to the masses. Syfe is built for all investors, whether you are new to investing or a seasoned investor. And we have. Your process starts with understanding your correct risk appetite through our robust yet straightforward Risk Profiler (for free). That is when the real magic begins. Our proprietary Automated Risk-managed Investments methodology (ARI) will allocate assets which have shown the best return for your risk profile. But more importantly, it continually monitors your portfolio. During periods where higher market volatility has been forecasted, ARI will adjust your portfolio allocation and reduce your exposure to higher-risk asset classes. This ensures your portfolio risk stays aligned to your desired risk level. Conversely, during periods of market calm, ARI will adjust your portfolio allocation to allocate more to higher-risk assets, so your overall portfolio risk is kept in line with your desired risk exposure, but you can capture the market upside as well. The result is that ARI helps you achieve benchmark-beating returns by maintaining your desired risk level, no matter what market conditions maybe, just as a real wealth manager should do for you, round the clock. For more details on ARI, you can also check out our investment methodology paper here. I hope this helps. Do not hesitate to reach out should you have any other queries. Happy investing.

Investments

Savings

Retirement

Jefremy Juari
Jefremy Juari, Financial Writer at Medina Books
Level 3. Wonderkid
Updated 3d ago
Hi Liam, I was a financial consultant for a decade, recommending people insurance, managed funds, endowments, etc. What i felt was that i was doing my clients an injustice. It was simply taking their monies and pocketing into the company's and mine and investing whatever is left. Now that I've left the industry, my vision for opportunities is far wider. In the mid-term what i am doing is hedging against the currency and moving into gold, properties, masternodes and some crowdfunding causes, all with an appreciation of more than 10%. What I look for in these instruments are capital appreciation, a regular payout and a sense of control over the assets itself. Nothing is absolutely passive, spending a little time learning and being proactive can absolutely make more for a healthier bottomline. We are at the edge of a major global economic shift where fortunes are made and lost. The one who has more knowledge trumps over those who are lacking. There's my 2 cents. Hope it helps you in the long run.

Savings

Family

Lifestyle

Retirement

You should start the planning now. Your children will graduate and will step into the workforce where they must take care of themselves. You need to look at your situation now and ask yourself when you would like to retire, as well as your goals and dreams you would like to achieve in retirement. Firstly, ensure that you have a basic level of guaranteed income when you retire. CPF Life is one of the best annuities around and it gives a lifetime of income. As we do not know how long we live, a lifetime annuity forms the basis of 'survival income' to ensure that you will have money for essentials. You can also contribute to RA via top ups or with CPF monies to hit the enhanced retirement sum. Do note that this is a one way traffic however, money put into SA/RA will not be able to be withdrawn. Next, ensure you have medical and Long Term Care coverage. Medical and nursing bills can be quite hefty and we want to ensure that such bills do not drain us of money for retirement. Beyond Medishield life and Eldershield, look at getting an integrated shield plan as well as Eldershield enhancement. Once those are taken care of, we can look beyond the basics. Creating lasting income from both guaranteed and variable sources will ensure diversification across various asset classes (retirement plan, equities, fixed income, etc) and a stable, low volatility portfolio. The exact composition of such a portfolio is dependent on your risk appetite and preferences, so discuss with a consultant who can help you to plan and allocate your limited resources accordingly. If you'd like, I can show you the strategies we use to plan for clients including strategies to hedge inflation and longevity through your retirement years.

Savings

Investments

Retirement

REITs

I wouldn't invest anything volatile if I require the money in the next 3 years time. You can look at SSB, Fixed Depost, or short term endowment policies as options. For long term, building a globally diversified portfolio with attention to asset allocations and shifting strategies as you age and get closer to retirement is a great idea to invest for retirement in 30-40 years. I follow a ABCD framework which stands for: Adventurous, Balanced, Cautious, and Defensive which would allow us to invest properly as we age. Something like the following may constitute an adventurous approach: ! I've been speaking recently to young couples and families our age (I'm 26 too) with regards to this. I'd love to show you some guidelines and plot an idea of how this investment journey of yours may look like which will include things like emergency expenses and when to accumulate and when to collect dividends. My job is to make sure you're able to reach your goals with the least risk possible and coach you and helping you understand how we react to markets and the rules we follow as investors. If you'd like to understand more, I'm always a message away.
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CPF

Retirement

If your MA hits BHS, future MA contributions will be transfer to your SA instead, unless your SA is at the prevailing FRS, then it will be transfered to OA. This is assuming you are below 55.

Retirement

Every insurer has an annuity product available. If you'd like a comparison from 10 different insurers, do let me know. I have access to AIA, AXA, Aviva, Manulife, Tokio Marine, NTUC, China Life, China Taiping, HSBC Life, Etiqa ePremier.

Investments

Lifestyle

Savings

Retirement

My warchest would be deployed. But we don't have a crystal ball, so until the markets really drop drastically, life goes on.

Savings

Retirement

Hi there anon! I recently answered a similar question here, you should check it out: https://seedly.sg/questions/i-have-been-working-on-a-plan-to-achieve-financial-independence-but-it-hasn-t-been-going-too-well-anyone-has-any-advice?aid=16497 I think the first step to personal finance is to sort out your current financial status according to the 5 verticals in personal finance. For starters, check out these 2 articles! - https://blog.seedly.sg/read-me-first-your-personal-finance-journey-starts-with-this-article/ - https://blog.seedly.sg/beginner-series-tips-seedly-money-framework/ Next, you should take a course of action based on the 5 verticals of personal finance. 1. Income: adopt our Seedly 50-30-20 salary allocation model 2. Expenses: track them with the Seedly App 3. Savings & Debt: pick a high interest savings account 4. Insurance: get life & health insurance at the very least 5. Investment: start reading up about investment options and make a financial plan Managing your personal finance isn't that daunting, you just have to begin somewhere. I hope I've brought you to that somewhere! You can read up more on personal finance on our Seedly blog, everything is FOC :) All the very best to your personal finance journey!

Savings

Retirement

Lifestyle

For a scenario where you are clearing off study loans or the like, you may find yourself saving little while paying off the loan. This is ok, but do not spend all your free cash flow clearing off the loan as you will still need to save to have an emergency fund. If however, you do not have any loans to pay off, try to do at least 20% of your take home. As your salary increases, don't increase your expenditure, but increase your savings. A rule of thumb is that if you are single, try to hit 60%. You will find that once you are having commitments such as being in a relationship or starting a family, your saving rate will naturally take a hit. So save hard, and early. If you want to save aggressively, consider doing what I did, which is the moment my salary was credited, to move my targeted savings to another bank account that is not easily accessible, (CIMB worked for me, as they have no ATMs except at their 2 branches and I locked my token away). This helped me squirrel away a decent sum every year as both emergency funds and a warchest for market opportunities.
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