Planning for your retirement with Manulife

[chootchiew]

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

Hearing your invaluable advice, I am thinking of multiplying my $500k to $5mil in RWS

 

[watchman8]

Hearing your invaluable advice, I am thinking of multiplying my $500k to $5mil in RWS

I heard there's a church in sinkieland that can provide hundred fold returns if you tithe to that church. PM to me, I will let you in to this secret

 

[winnipegjets]

sam, the problem is most sinkies can't be bothered to even think of retirement plans of any sort.
they feel it is the government responsibilities to feed and take care of them.

How can a sinkee plan for retirement when he is struggling to survive? The career lifespan for sinkee PMET is about 10-15 years before they become replaceable by foreign PMET. If the sinkee PMET is out of a job at his supposed prime earning years, he can look forward to a life of driving cabs. With those income, he will be lucky to pay off his pigeon hole when he reaches retirement age.

If the government fleeces you so much of your income, of course, you should expect serious paybacks from the government.

 

[eatshitndie]

Guys,

If you look at the benefit illustration, it is based on 'nominal interest rate of 5%'. You might as well go read a fantasy novel.

U.S. 10-year notes yield is less than 2%. Singapore Govt bonds less than 3%. How to get 5% ? Depend on the equity funds ?

Many people who buy insurance products kenna conned by the benefit illustration because they never look at the interest rate on which the calculations are based.

the best rate of return on a hedge fund that i know is around 5%. and there's no guarantee year after year. anyone who claims better than 5%, better watch out. if hedge fund manager makes better than 5% based on signed agreement, he pockets the surplus. if he makes less than 5%, he is not liable for the shortfall. if he loses a bunch and principal is reduced, he's protected from waivers in the agreement. heads he wins, tails you lose.

anyone who claims an insurance policy can return 5% has gotta be smoking weed.

real estate is so far one of the best investments. i can illustrate with 3 examples.

case 1. my friend liquidated property and stock options and gave usd2m net to a hedge fund manager to invest. at first fund manager declined due to paltry sum but later relented. for the last 6 years, my friend has been earning 5% p.a. which comes up to usd100k per year without touching principal. he pays rent, goes on vacations, spends on food and auto. single, no gf, retired but provide software consultancy.

case 2. my brother has 5 properties in sg. lives in 1, rents out 4. he's a doctor and owns a clinic. bought properties during the last downturn over a decade earlier. he paid for all when they were an average sgd500k per property valuation, and all 4 are earning rent of sgd2.5k per month, the rate of return is around 6% p.a. based on sgd120k rental income. unlike case 1, his properties have appreciated in value by more than 100%. his total roi today makes more wealth than his medical income.

case 3. i have 4 properties in the u.s. rent out 3, live in 1. bought them when they were valued at usd500k. earning rental income of usd2.5k per month. almost similar to brother except that i'm less one property. 6% p.a. rate of return. the only problem is that the asset value enhancement is not as great as that in sg. the market is returning to healthy numbers, but the appreciation is around 15 to 20%.

case 2 wins out as my brother can cash out all and pay zero capital gains tax. moreover, the sing dollar is strong. my capital gains tax is 20%, and i'm not cashing out. conclusion: sg is the best if you invest early and make good decisions with guts.

 

[GoldenDragon]

The typical Sinkee retirement plan is weekly visits to the lottery booth, and typical investment plan is monthly recurring deposits at the Shanghai bank account with the PRC hooker they met at the HFJ.

Bro, am I under surveillance?

 

[Hawkeye1819]

Bro, am I under surveillance?

Just describing my own lifestyle, bro. Hehe!

 

[Big Sexy]

do you really think the sinkie government will some day change sinkieland to a welfare state?
it is not going to happen, MIW will never do that and neither will the WP.
if your retirement plan is for the sinkieland government to support you fully then i say, god bless you!

it is scary that sinkies dont have retirement plans.
we cannot depend on others to take care of us, we need to have plans of our own
be it to move to pasture greener aboard or doing a downgrade( 5 room to 3 room)
it is still part of a retirement plan.

How can a sinkee plan for retirement when he is struggling to survive? The career lifespan for sinkee PMET is about 10-15 years before they become replaceable by foreign PMET. If the sinkee PMET is out of a job at his supposed prime earning years, he can look forward to a life of driving cabs. With those income, he will be lucky to pay off his pigeon hole when he reaches retirement age.

If the government fleeces you so much of your income, of course, you should expect serious paybacks from the government.

 

[singham]

who says never...?

i have read it and found nothing to support your claim

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.

 

[Big Sexy]

mate, what are you talking about?
see your past post "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...?"
and then read that report again.

who says never...?

 

[sunlee2002]

Its really quite hard for average singaporeans to plan for retirement, especially the younger generation... But I think its still a must, otherwise when we're old, what's gonna happen to us man? I just tried to use the dbs retirement planning calculator.. kinda scary to see how much my retirement fund needs to be sia

 

[Dark Knight]

I think majority of those middle income group who are married, got house, got kids may not be able to retire in Sillypore.
After servicing your house loan (let's say 30 years), spent tons of $$$ on your kids education, healthcare for parents etc, they simply left with not much for
themselves at the age of 60. You just can't save enough cash for retirement unless you strike ToTo.

 

[Leongsam]

I think majority of those middle income group who are married, got house, got kids may not be able to retire in Sillypore.
After servicing your house loan (let's say 30 years), spent tons of $$$ on your kids education, healthcare for parents etc, they simply left with not much for
themselves at the age of 60. You just can't save enough cash for retirement unless you strike ToTo.

If they stick to earning a salary, I agree with you. It's going to be tough. However, with hard work, determination and an eye for opportunity, they should have no problems creating sufficient wealth to enable them to retire in their mid 40s.