Retirement

[Jchuaym]

Hi everyone,

There are only a few guarantees in life, and paying taxes is one of them. Another is retirement. Everyone will face retirement some day, but have you planned for it? The reality is, most of us have not put enough thought into retirement planning and defer it only until much later in life. But if retirement is a certainty, shouldn’t planning for it then be our top priority?

Do you know that if you wish to retire with S$2,000 a month for 20 years, you need to set aside S$480,000, without even taking into consideration inflation? Even then, S$480,000 is a hefty amount to set aside isn’t it?

For many, retirement can be one of the best and most enjoyable periods of your life, if you plan ahead. Otherwise, you may just have to retire from enjoyment and continue working.

I represent AIA and I would like to help you plan for a comfortable retirement. AiA is also rewarding its customers with attractive gifts like Ipad Mini, or IPad Air or MacBook Air for selected retirement plans. So there couldn't be a better time to start your planning. Please PM me if you are keen to know more.

Have a great weekend all!

 

[Dividends Warrior]

For some people, their children are their retirement plans.

 

[ramdick]

I planned ahead & best case scenario is retire miserably

 

[limster]

Hi everyone,

Do you know that if you wish to retire with S$2,000 a month for 20 years, you need to set aside S$480,000, without even taking into consideration inflation? Even then, S$480,000 is a hefty amount to set aside isn’t it?

I represent AIA and I would like to help you plan for a comfortable retirement.

What sort of overpriced AIA plan requires you to set aside S$480,000 in order to get $2,000 a month for only 20 years?

S$480,000 of dividend shares at 5% dividend will give you $2,000 a month for as long as you live and you can pass on them on to your children so their retirement is also assured.

 

[iCuteCube]

Quoted "AiA is also rewarding its customers with attractive gifts like Ipad Mini, or IPad Air or MacBook Air for selected retirement plans"

Wah , you target marketing talk in this forum ah.

People who surf money-mind are generally quite a*** with their money and i doubt they would just settle with a retirement plan and get ATTRACTIVE GIFT like Ipad Mini or IPad Air or MacBook Air.

My point is, take it to the streets or target someone else. You would probably save more time and maybe can up sales!

 

[peterchan75]

Sometimes... rarely... but sometimes for unforseen event, that big corporation that promise that 5%, goes bust.

What I am saying is that don't go ALL in. Spread your nest egg.

 

[Darkzi0n]

What sort of overpriced AIA plan requires you to set aside S$480,000 in order to get $2,000 a month for only 20 years?

S$480,000 of dividend shares at 5% dividend will give you $2,000 a month for as long as you live and you can pass on them on to your children so their retirement is also assured.

i think he meant, if u wan to spend $2000 (nominal) a month for 20 years, u need a saving of $480,000 to do that...not the product cost 480k and pay $2000 a month for 20 years.

 

[tiny]

Hi everyone,

There are only a few guarantees in life, and paying taxes is one of them. Another is retirement. Everyone will face retirement some day, but have you planned for it? The reality is, most of us have not put enough thought into retirement planning and defer it only until much later in life. But if retirement is a certainty, shouldn’t planning for it then be our top priority?

Do you know that if you wish to retire with S$2,000 a month for 20 years, you need to set aside S$480,000, without even taking into consideration inflation? Even then, S$480,000 is a hefty amount to set aside isn’t it?

For many, retirement can be one of the best and most enjoyable periods of your life, if you plan ahead. Otherwise, you may just have to retire from enjoyment and continue working.

I represent AIA and I would like to help you plan for a comfortable retirement. AiA is also rewarding its customers with attractive gifts like Ipad Mini, or IPad Air or MacBook Air for selected retirement plans. So there couldn't be a better time to start your planning. Please PM me if you are keen to know more.

Have a great weekend all!

I stop reading after the word AIA

 

[limster]

i think he meant, if u wan to spend $2000 (nominal) a month for 20 years, u need a saving of $480,000 to do that...not the product cost 480k and pay $2000 a month for 20 years.

I was wondering about that, because a dividend share portfolio of $480,000 with $2k a month dividend will last you forever, not just 20 years, and you can pass the shares on to your children. So I have no idea why he thinks that after 20 years there's no more money left.

Since he mentioned that the payments was for 20 years, I thought it was some sort of AIA policy that pays only for 20 years, because the payments for insurance eventually end while a "dividend warrior portfolio" can last forever.

 

[Dividends Warrior]

What TS said is not the details of his policy.

I think TS is telling a hypothetical situation. He is just trying to say that a person that has savings of $480k cold hard cash at the time of his retirement can only last 20 years if he withdraws $2k per month. This $480k savings will be depleted after 20 years. If that person is still alive after 20 years, he will have no more savings left.

TS is saying this hypothetical scenario because:

1) More people are living longer nowadays. More people are outliving their savings.

2) Most people dun even have $480k to last them 20 years in retirement.

Both very valid points IMO.

My guess is he is trying to promote some kind of annuity plan, which could be suitable for some people who just need a constant stream of income as long as they live.

 

[tiny]

What TS said is not the details of his policy.

I think TS is telling a hypothetical situation. He is just trying to say that a person that has savings of $480k cold hard cash at the time of his retirement can only last 20 years if he withdraws $2k per month. This $480k savings will be depleted after 20 years. If that person is still alive after 20 years, he will have no more savings left.

TS is saying this hypothetical scenario because:

1) More people are living longer nowadays. More people are outliving their savings.

2) Most people dun even have $480k to last them 20 years in retirement.

Both very valid points IMO.

My guess is he is trying to promote some kind of annuity plan, which could be suitable for some people who just need a constant stream of income as long as they live.

Many annuity savings plans are so expensive to the point that it financially destroys you before you could retire in 1 piece at the commencement age of 60 or 65. IIRC, most annuity plans have poor premature surrender cash value as you must commit to the entire premium payment terms (i.e. 10 / 15 / 20 years / or X number of years until reaching age 55)

 

[henrylbh]

I can't find any current insurance plans, endowment, retirement or annuity, paying better than idle fund in the CPF SA or RA.

If CPF allows 480k in RA, the payout over 20 years will be much more than 2k, if prevailing interest rate remains.