Planning for your retirement with Manulife

[Big Sexy]

paid fully? source please?
anyway let me borrow a quote from your cow minister..
if you feel china is better, then there is always the door.

why such a big country like china with over 4 billion population able to pay fully for their seniors over age 55 if they fall sick? tell me why...?

 

[Leongsam]

why such a big country like china with over 4 billion population able to pay fully for their seniors over age 55 if they fall sick? tell me why...?

Thank goodness my tax dollars doesn't go to the likes of you.

 

[tonychat]

what about $2 million sinkie $ in bank account and $20k per month passive income for a single guy or family guy.. i think that is enough for retirement. including various medical insurance coverage.

 

[singham]

you probably not aware that there are many sinkies who already on the way out of sinkieland or planning to do so...

source from my beijing neighbour who was an ex china civil servant.

what right has he show me the door, who does he think he is? he is just any mudland chinese who came here to make his living and lucky to be where he is today. probably, his por lumpar kungfu is good.

paid fully? source please?
anyway let me borrow a quote from your cow minister..
if you feel china is better, then there is always the door.

 

[Leongsam]

source from my beijing neighbour who was an ex china civil servant.

... the same guy who told you China has a population of 4 billion....

 

[singham]

i already corrected the info., it's 1.4 billion and not 4 billion, believe it's a typo but to appease the rest, i said it's wrong info...:p

 

[sleaguepunter]

sorry for the wrong info, but what is 6 million compare to 1.4 billion. btw, there are about 6.9 billion people living on this planet.

must see where u get the info from because according to US census bureau, the world population already cross the 7b mark early last year, i remember hearing it on BBC while driving.

 

[Big Sexy]

mate, i am still waiting for you to support your claim that the medical fees of those chinese citizen are fully paid by their government.

i already corrected the info., it's 1.4 billion and not 4 billion, believe it's a typo but to appease the rest, i said it's wrong info...:p

 

[Cestbon]

Invest in Manualife or Income retirement fund better put money in CPF.

 

[singham]

http://shflxh.mca.gov.cn/en/

mate, i am still waiting for you to support your claim that the medical fees of those chinese citizen are fully paid by their government.

 

[watchman8]

You don't have to buy anything from any insurance company in order to plan for retirement. All you need to do is to use the manulife retirement calculator to work out how much you need in order to retire at 45 with sufficient assets to yield $15,000 per month over 40 years.

Once you have the figure worked out, go about creating sufficient wealth to realise your goals. It's that easy.

Life can screw you up in spite of best plans. You may think that you have created sufficient in terms of future passive income, then the passive income disappears or halved. Just ask those who thought interest income can sustain them since the higher interest rate days of 1980s.

Or the business may falter, currency depreciates massively, war etc.

So also need to consider spreading your eggs, create more buffer, and most importantly maintain capability to make a living without over reliance on passive income.

 

[Leongsam]

Life can screw you up in spite of best plans. You may think that you have created sufficient in terms of future passive income, then the passive income disappears or halved. Just ask those who thought interest income can sustain them since the higher interest rate days of 1980s.

The risk of being fired or retrenched while you still have a huge mortgage is far higher.

I've been recommending a target of $5 million by age 45 for many years. The figure still stands. Even if interest rates go to zero, there's still enough for 40 years of retirement.

 

[soIsee]

The risk of being fired or retrenched while you still have a huge mortgage is far higher.

I've been recommending a target of $5 million by age 45 for many years. The figure still stands. Even if interest rates go to zero, there's still enough for 40 years of retirement.

You open your BIG mouth to quote a figure.
i say $5 million is NOT enough considering how the Papies have upped the stakes. i say projecting from now and assuming the pappies are even greedier , a figure of $20 million will then suffice.

Coming out wih such a moronic post is just insulting the Sinkies ( the majority that is) cos you know if such moronic species can keep voting for Pap they will..

NEVER BE ABLE TO BE COMPETENT ENOUGH TO PLAN FOR THEIR OWN RETIREMENT!

They are only there for the papies to screw and here for you to ..

INSULT!

 

[Leongsam]

You open your BIG mouth to quote a figure.
i say $5 million is NOT enough considering how the Papies have upped the stakes.

With $5 million, you can remove pappies from the equation. Why on earth would you want to carry on living in that shithole?

 

[Big Sexy]

i have read it and found nothing to support your claim

Chapter II Maintenance and Support by the Family
Article 12 A supporter should provide medical expenses and nursing service for the aged person suffering from illness.

Chapter III Safeguarding by the Society
For the aged in rural areas who are unable to work and have no financial sources， if they have no supporter or their supporters have really no ability to maintain or support them， the rural collective economic organizations shall guarantee them food， clothing， housing， medical care and burial expenses. People's governments of townships， nationality townships or towns shall be responsible for the implementation of the five guarantees.

Article 25 The state establishes the medical insurance systems in various forms to ensure the aged the basic medical care.

Medical treatment enjoyed by the aged according to law shall be guaranteed.

Article 26 If an aged person and his supporter are really unable to pay medical expenses for his illness， the local people's government may lend proper assistance according to the circumstances and may advocate social assistance.

Free medical care for the aged is advocated.

http://shflxh.mca.gov.cn/en/

 

[enterprise2]

You open your BIG mouth to quote a figure.
i say $5 million is NOT enough considering how the Papies have upped the stakes. i say projecting from now and assuming the pappies are even greedier , a figure of $20 million will then suffice.

Coming out wih such a moronic post is just insulting the Sinkies ( the majority that is) cos you know if such moronic species can keep voting for Pap they will..

NEVER BE ABLE TO BE COMPETENT ENOUGH TO PLAN FOR THEIR OWN RETIREMENT!

They are only there for the papies to screw and here for you to ..

INSULT!

$20M!! Now that we are talking , lets go to $100M. Then u can retire in a Sentosa Cove, surrounded by a bevy of gals from whatever and go off on your boat to ...whereever!!

 

[OverTheCounter]

2 million is enough to start with.

But yes in financial planning more is always better than less.

The risk of being fired or retrenched while you still have a huge mortgage is far higher.

I've been recommending a target of $5 million by age 45 for many years. The figure still stands. Even if interest rates go to zero, there's still enough for 40 years of retirement.

 

[watchman8]

The risk of being fired or retrenched while you still have a huge mortgage is far higher.

I've been recommending a target of $5 million by age 45 for many years. The figure still stands. Even if interest rates go to zero, there's still enough for 40 years of retirement.

The risks are everywhere. Have to be nibble and also spread assets around. Say if your business and house are in Asia, and one day china implodes. Suddenly the bank runs are everywhere and your business collapsed. There goes your retirement plan.

Improbable? Just look at global history over past hundred years.

 

[soIsee]

$20M!! Now that we are talking , lets go to $100M. Then u can retire in a Sentosa Cove, surrounded by a bevy of gals from whatever and go off on your boat to ...whereever!!

Ppl like you have no sense of what you are talking once the range goes into the millions.

So go back TO YOUR HDB PIGEON HOLE AND ..

Let the pappies screw you so that what you will only get to know and ..

FEEL!

Of course you can chart your own destiny come 2016 but as Ah Tony always says, it takes ..

Balls but as a Sinkie, you do not seem to have it anymore!LOL

 

[Leongsam]

The risks are everywhere. Have to be nibble and also spread assets around. Say if your business and house are in Asia, and one day china implodes. Suddenly the bank runs are everywhere and your business collapsed. There goes your retirement plan.

Improbable? Just look at global history over past hundred years.

You can't remove risk from your life. Risk is part and parcel of every aspect of ones existence. Accidents, disease, natural disasters, criminal acts can cut you down when you least expect it.

However, with $5 million, you remove a big chunk of financial risk which can be reduced further by not putting all your eggs in one basket.

I can assure you that NOT having at least $5 million by age 45 exposes you to far more risk. My advice is to achieve this goal first. You can then start worrying about how to preserve the amount over the long term.

Too many people do nothing using risk as an excuse of inaction. They invariably end up far worse off.