Opinions about upgrading

[Voodooman]

11 hours ago, Enye said:

wah... how come the guru initially talk so much about 5k per month retirement until need a 2m portfolio 

but then his final case study is 2.1k per month retirement need 800k

then he concluded 800k more palatable figure for most people than 2m

err..... so are we supposed to retire on 2.1k or 5k per month ah?

😅

Different strokes for different folks, I guess.  

I think the safest is to take note of current expenditure and extrapolate from there. He is just saying some of the assumptions we made may not be entirely correct. 

[Weez911]

26 minutes ago, Voodooman said:

Different strokes for different folks, I guess.  

I think the best way is to sit down with a chio insurance agent and work out your retirement numbers, after factoring in future annuity by CPF. Recommend to do this early but make adjustment along the way as your financial situation changes. Sorry this sounds like a motherhood statement but it is a very personal decision and everyone has different retirement needs.

Also can change to younger and chioer insurance agents as the older one ages. Existing policies stay of course. There are very eager and hardworking professionals waiting to help us, so why now.

[therock]

Sitting down with a pretty agent is a bad idea bro

i want to focus on my figures.. not hers ya ..

[mersaylee]

3 minutes ago, therock said:

Sitting down with a pretty agent is a bad idea bro

i want to focus on my figures.. not hers ya ..

Yah...stay focus on all visually attainable assets😁

[Throttle2]

7 minutes ago, Weez911 said:

I think the best way is to sit down with a chio insurance agent and work out your retirement numbers, after factoring in future annuity by CPF. Recommend to do this early but make adjustment along the way as your financial situation changes. Sorry this sounds like a motherhood statement but it is a very personal decision and everyone has different retirement needs.

Also can change to younger and chioer insurance agents as the older one ages. Existing policies stay of course. There are very eager and hardworking professionals waiting to help us, so why now.

So the key is to be able to have chio insurance agent serve you and the option to replace with chioer and younger one as you age.

Li hai li hai.........👍👍👏🏻👏🏻

[Weez911]

51 minutes ago, Throttle2 said:

So the key is to be able to have chio insurance agent serve you and the option to replace with chioer and younger one as you age.

Li hai li hai.........👍👍👏🏻👏🏻

Yep. 女人就像海鲜，好吃永远抵不过新鲜.

[Didu]

Wah...property upgrade discussion can drift to sea food.  Li hai li hai. 

[Wt_know]

5 minutes ago, Didu said:

Wah...property upgrade discussion can drift to sea food.  Li hai li hai. 

wait for jamesc to drift to japan educational material  

[Voodooman]

22 hours ago, Ct3833 said:

And he also said based on survey, most of the people still have 80% of their saving after 20years, then why would we need his advice?

He mentioned some grew their wealth in retirement, T2 and you come into my mind. 

We have a lot of rich retirees here, would be interesting to hear if they are running down their savings or like Blackrock’s US survey, barely touching the P after 5, 10 or 20 years?

[Ct3833]

58 minutes ago, Voodooman said:

He mentioned some grew their wealth in retirement, T2 and you come into my mind. 

We have a lot of rich retirees here, would be interesting to hear if they are running down their savings or like Blackrock’s US survey, barely touching the P after 5, 10 or 20 years?

Ideally one should spend his last dollar before he leaves the world but no one knows how much  more medical expense he will need before his last day, so the finding about having 80% of one's saving after 20 years can be quite a sad  truth(good problem?) , provided one does not  be overly stingy on himself.

I am not rich and still ploughing hard in the paddy field. And that also explains why i am driving a COE car 😅😅 

Edited March 8, 2021 by Ct3833

[Voodooman]

38 minutes ago, Ct3833 said:

Ideally one should spend his last dollar before he leaves the world but no one knows how much  more medical expense he will need before his last day, so the finding about having 80% of one's saving after 20 years can be quite a sad  truth(good problem?) , provided one does not  be overly stingy on himself.

I am not rich and still ploughing hard in the paddy field. And that also explains why i am driving a COE car 😅😅 

I think if the Americans are not spending during retirement, Asians will be worse. 

I look at my dad and I think he is still accumulating wealth, each of his children are giving him kopi money, he still has his rental income but he hardly spends, save for his once ot twice a year trip to Japan and China. 

Think me and my kids will tantio.  Lol

 

[Weez911]

3 minutes ago, Voodooman said:

I think if the Americans are not spending during retirement, Asians will be worse. 

I look at my dad and I think he is still accumulating wealth, each of his children are giving him kopi money, he still has his rental income but he hardly spends, save for his once ot twice a year trip to Japan and China. 

Think me and my kids will tantio.  Lol

Not great for economy bro, but I agree it will be yours (or your kids) someday.

[Ct3833]

25 minutes ago, Voodooman said:

I think if the Americans are not spending during retirement, Asians will be worse. 

I look at my dad and I think he is still accumulating wealth, each of his children are giving him kopi money, he still has his rental income but he hardly spends, save for his once ot twice a year trip to Japan and China. 

Think me and my kids will tantio.  Lol

 

At least he enjoys what he enjoys doing  - travel and accumulating wealth😀. I kept reminding my mother to spend her money too, i told her no one wants her money. But at her age, she really cant spend much on other things other than eating. 

Edited March 8, 2021 by Ct3833

[Throttle2]

44 minutes ago, Voodooman said:

I think if the Americans are not spending during retirement, Asians will be worse. 

I look at my dad and I think he is still accumulating wealth, each of his children are giving him kopi money, he still has his rental income but he hardly spends, save for his once ot twice a year trip to Japan and China. 

Think me and my kids will tantio.  Lol

 

Yah, general Asian mindset is to be thrifty.  I am also the same.  
but i think i want to consciously treat myself more as i age becos when i was much younger i didnt.

when my peers bought $150k -$200k new car in their early 30s, i bought old $50-60k car. I only spent more (expenses) after my mid 30s but still a lot less then them.  I naturally have more assets though whether in properties watches, investments or cash.

its just in my blood not to fritter money.    No rich family to back me, no business to take over, so better be more down to earth,  for the sake of my family. 

[Alfc]

Some old folks are blessed when children are able to fish (not keep asking for bailout packages) for themselves and instead encourage the old folks to enjoy the fruits of their own labor for themselves. For one, I will die extremely consolidated if my children turn out this way. 

Must walk the talk, lead by example. 

Edited March 8, 2021 by Alfc

[Kopites]

23 hours ago, therock said:

Sitting down with a pretty agent is a bad idea bro

i want to focus on my figures.. not hers ya ..

The issue here is that voice over the phone tend to be "deceiving". 

Resemblance watching YouTube on incoming footballer.

[Kopites]

10 hours ago, Ct3833 said:

At least he enjoys what he enjoys doing  - travel and accumulating wealth😀. I kept reminding my mother to spend her money too, i told her no one wants her money. But at her age, she really cant spend much on other things other than eating. 

Any hobby?  

 

[Kopites]

23 hours ago, therock said:

Sitting down with a pretty agent is a bad idea bro

i want to focus on my figures.. not hers ya ..

You need a mature experienced agent to read one mind.

Too young might not equip with sufficient experiences in dealing with mature client.