Which retirement plan is good?

[PholkLorr]

My agent was trying to sell me manulife retire ready or AXA retire happy.

I have about 50% of my salary saved as cash a mth, on top of other saving plans like the government coop. I also buy 100 to 200 shades of sti etf every mth. The spare cash didn't bother me much before because I was saving to 60k on my ocbc 360 account. After that though, I need to find ways to park my cash.

My agent said that putting some cash every mth into the manulife retirement plan can be part of my bond portfolio. In case the market is bad when I retire, I can hold onto my stocks until a better time while living quite comfortably on cpf life and the manulife retire ready.

Was thinking of parking 250/mth inside. Thoughts?

 

[akwl88]

My agent was trying to sell me manulife retire ready or AXA retire happy.

I have about 50% of my salary saved as cash a mth, on top of other saving plans like the government coop. I also buy 100 to 200 shades of sti etf every mth. The spare cash didn't bother me much before because I was saving to 60k on my ocbc 360 account. After that though, I need to find ways to park my cash.

My agent said that putting some cash every mth into the manulife retirement plan can be part of my bond portfolio. In case the market is bad when I retire, I can hold onto my stocks until a better time while living quite comfortably on cpf life and the manulife retire ready.

Was thinking of parking 250/mth inside. Thoughts?

Stocks, emergency funds, warchest, cpf are the basics liao.

Why u want fund your agent's luxury spendings?

 

[13luetooth]

Not sure about how others think, but I have bad experience with agents on attempting to sell me ILPs. (thankfully I didn't buy anything from him)

So if u were to ask me, I wouldn't even get anything from agents especially important things such as retirement planning. This kind of thing, do u think they care about you more or their commission more?

 

[PholkLorr]

This 1 is annuity, not ILP

 

[01asdf]

The returns are based on the performance of the underlying mutual funds though.

If you're looking to up your bonds portfolio, why not just buy a bond etf?

 

[RetRace]

To even put a knife into your agent's heart, why not put into your CPF?

Sent from Samsung SM-G900F using GAGT

 

[13luetooth]

This 1 is annuity, not ILP

The main point doesnt lies on the product. But rather on the agent fees. Why do u want to place your retirement planning on the agent rather than yourselves ?

Others have pointed out that you can place on ETF (stocks/bonds) and get decent returns without paying commission fees. Also by having your own ETFs portfolio, you have more flexibility in managing ur funds in any emergency cases.

 

[PholkLorr]

To even put a knife into your agent's heart, why not put into your CPF?

Sent from Samsung SM-G900F using GAGT

Good idea.

http://singaporeanstocksinvestor.blogspot.sg/2014/08/how-to-upsize-100k-to-225k-in-20-years_4.html

I think i should just dump all my money into CPF SA (up to 7k) for risk free 4% interest and guaranteed capital preservation if im going to lock up money until i retire (60+).

 

[PholkLorr]

The main point doesnt lies on the product. But rather on the agent fees. Why do u want to place your retirement planning on the agent rather than yourselves ?

Others have pointed out that you can place on ETF (stocks/bonds) and get decent returns without paying commission fees. Also by having your own ETFs portfolio, you have more flexibility in managing ur funds in any emergency cases.

I already have ETF. I buy 100 to 200 shares of SPDR STI ETF every mth. Some mths more.

 

[Perisher]

Good idea.

http://singaporeanstocksinvestor.blogspot.sg/2014/08/how-to-upsize-100k-to-225k-in-20-years_4.html

I think i should just dump all my money into CPF SA (up to 7k) for risk free 4% interest and guaranteed capital preservation if im going to lock up money until i retire (60+).

Becareful, that guy already have enough interest for all his spendings monthly and so wouldn't need to worry about CPF changes. CPF's goalpost keep changing, if you wanna depend your retirement on it, you better be damn sure you can take it out when you need it.

 

[Squaredot]

Becareful, that guy already have enough interest for all his spendings monthly and so wouldn't need to worry about CPF changes. CPF's goalpost keep changing, if you wanna depend your retirement on it, you better be damn sure you can take it out when you need it.

bro, you are damn right!

 

[sanzhu]

Buy my macdonalds

 

[PholkLorr]

Becareful, that guy already have enough interest for all his spendings monthly and so wouldn't need to worry about CPF changes. CPF's goalpost keep changing, if you wanna depend your retirement on it, you better be damn sure you can take it out when you need it.

I have enough for all my monthly spending too. I spend very little and i have slightly over 2k a month spare cash, which i use about $300 - $600 for STI ETF. And when market crash buy 1 stock. Last time i didnt care so much about saving so much cash because i was building towards my 60k in OCBC 360.

Now that it's over the 60k, i can afford to be more liberal in buying investment stuff. $7k/yr to SA account seems stomachable.

 

[Astro2]

Agree with what others said. Why pay the agent fee if you could do it yourself?

Since you have more spare cash now, why not increase your fund to your STI ETF, and also get some bond ETF (A35) and do a re-balancing once a year? Important thing here is to keep your cost low, as this will eat into your returns. If you're young, time is on your side to build your retirement fund now.

 

[dork32]

Now that it's over the 60k, i can afford to be more liberal in buying investment stuff. $7k/yr to SA account seems stomachable.

there is still the uob 50k and the boc 50k and the maybank 50k

 

[havetheveryfun]

Good idea.

http://singaporeanstocksinvestor.blogspot.sg/2014/08/how-to-upsize-100k-to-225k-in-20-years_4.html

I think i should just dump all my money into CPF SA (up to 7k) for risk free 4% interest and guaranteed capital preservation if im going to lock up money until i retire (60+).

don just follow blindly like he say himself too on his blog.. everyone situation is different.

firstly he is single and do not plan to get married, that's why he can afford to do such a thing. lets say if u are planning to get married and buy a house earlier, then it might not be such a good idea to transfer all to SA, maybe just a little of it so that at least u have a cushion to fall back on if u cant pay for ur mortage for some reason

or to dump all ur money inside if u have kids and a wife depending on u.. u can control ur own emergency expenses to an extent but kids are hard to say

 

[Henrypoo]

Retire Ready not bad la. Capital guaranteed upon retirement and other flexibility. Can consider. The last thing you want is getting a discount when you retire.