How much is enough for retirement in Singapore?

[MrsKiasu]

start talking inheritance with kids already?

[hercules]

lee_yl\" post_id=\"1937541\" time=\"1569502527\" user_id=\"17023:

I am just curious why Hercules prefers to put the bulk of her savings into many many different annuity plans and not diversify say, into an investment property, which I think it’s something I see with more upside potential

I have too short a lead time to invest in properties meaningfully. More importantly, I feel these are more illiquid in ‘one big chunk’.

There are different types of annuity plans. Some are more endowment types that one saves first then at certain years start to draw down till it becomes zero. Some include legacy planning such as the below (AIA and Tokio Marine used to have something similar but think both had closed their tranches). These used to be selling out very fast, meaning application closed once tranche amount hit.):

https://www.manulife.com.sg/resources/signature_income_eng.pdf

Mine is mostly legacy type that I can transfer ownership to whoever I want to carry on to enjoy the lifelong monthly payments and then later will to whoever he or she deems fit.

[tyeogh]

I read and read Hercules post many times. Nothing go inside my head. Really cim. 狗男女 i know. See one kill one.

[Estéema]

tyeogh\" post_id=\"1937578\" time=\"1569510447\" user_id=\"94399:

I read and read Hercules post many times. Nothing go inside my head. Really cim. 狗男女 i know. See one kill one.

tyeogh,
If u think of yr 4 kids fighting over when to sell off property bequeath to them for highest gain as oppose to each receiving exactly the specific annuity bequeathed to bros/sis or daughter/son, etc such that her wish is according as she wills no fighting.

Of course, relatives can still fight as perception of ‘deserving’ or values of equity which may not be her intended wish.

For me, nothing is perfect as we are imperfect and live in imperfect societies. Best be content & work with our own hands then to wait for the proverbial rabbit to come by.

Hope it helps.

[MrsKiasu]

from what I read and understand…H would like to take care and pass down her assets not only to her kids but also her siblings…so instead of the whole/big chunk going into 1 property which would probably need to be sold in order to share the proceeds among all these people who she cares alot, she will now have multiple individual plans to give all of them, one each.


On the plan itself, if you want to enjoy the fruits yourself, you will choose higher payouts but if you intend to pass down the principal to next generation then you draw lower amount during your life time. Hope that is correct hehe…

[Estéema]

Funz\" post_id=\"1937467\" time=\"1569495318\" user_id=\"6230:

Estéema\" post_id=\"1937462\" time=\"1569494661\" user_id=\"66413:

May I add interesting, nutritious and palatable food? Some KSP mums hv gone in their cooking & baking skills. Just that some hobbies don’t realize.

I always take note like when DH diagnoses high cholesterol & I ensure all food works for him. Even venture to plant edibles that bring cholesterol to manageable levels.

When kids growing up, tried to make food interesting for kids and in a way DH put in his request whenever he tried sth with his colleagues. Did home-made pizza & Pasta when DD was very keen on it & sushi for DS as he was immersed in all food Japanese, then the most challenging was tandoori chicken coz DH love the spiciness but still hv not perfected it but managed to do the Assam Fish Head and had since been the family & extended family’s favorite.

I think tyeogh is talking about some other kind of food.

I know.

[Estéema]

Cloud Cloud\" post_id=\"1937309\" time=\"1569476021\" user_id=\"160688:[quote=\"Cloud Cloud\" post_id=1937309 time=1569476021 user_id=160688]

lee_yl\" post_id=\"1937302\" time=\"1569475208\" user_id=\"17023:

I think the long hours and stress at work bring people together. 日久生情 celebrating wins together, experiencing the adrenlin rush of success, consoling each other in bad moments, growing together professionally, etc.

Not all spouses are supportive. Not every home environment is conducive to someone who has a bad day.

Some people will rather not go home if it means a second shift of doing housework or supervising kids. It's more enjoyable socialising outside. 我逗你开心 你逗我开心

DH’s friend is currently going through a divorce. The guy really went for the 日久生情、并肩作战 business partner (mistress).

One thing I don’t quite understand;
the wife is willing to forgive the man but the man still wants to call it quits ?!?! And the stupid thing is, what started off as a fling should stay a fling. After 偷吃, just wipe your mouth and go home lah. As both sides are married with children, I cannot understand how can the mistress give up her young kindergarten kids for DH’s friend, an old man with an age gap of 20years !!

20 years age gap! Soon, she may need to change his diaper.[/quote]Was thinking abt infidelity and the whys or wherefores of it all.

Then I happen to pass a young lady dressed in all white with designer holes (big ones) at strategic areas coming off fr an office bldg this evening well hugged every inch by an obviously older man.

Then I was thinking abt the men’s club/sites tyeogh described & sth crossed my mind & I can see why men cannot resist temptations when homefront grounding is weak. Not that I think there shld be any value in such outward appearances except given by nature. Some man-made holes are not natural and yet why these men can’t see beyond the plasticity of it all and close to leave their first family.

Oftentimes, emotions play a major part over sensibilities. When dealing with emotions, one can’t explain enuf to help the individual focus on the important issue. Hence, I need to remind myself to hv a discuss topic of “head over heart” or heart ruling the head talk with my kids. Need to find an opportunity to move this topic.

The other thing I s’times encounter is the issue of pride. Why some spouse wld not take back the word “divorce” once uttered even tho others cld clearly are how repentant the erring party has been and made all efforts to abandon his/her previous follies & try reconcile.

I’m not an expert in this area but a fair share of witnessing frds/colleagues suffer pain.

[tyeogh]

Er…i think I got it. Thanks. Sounds more like estate planning. I didnt think so far. Guess it makes sense to divide for them in case beneficiaries fight

[Estéema]

tyeogh\" post_id=\"1937590\" time=\"1569513865\" user_id=\"94399:

Er....i think I got it. Thanks. Sounds more like estate planning. I didnt think so far. Guess it makes sense to divide for them in case beneficiaries fight

Don’t fret so much. Hv a good nite’s slumber & think of your 4 youngsters’ sweet slumber without so much adult’s care.

[lee_yl]

I see. Thanks H for sharing.


While reading your post, suddenly the image of my mum came into my mind. She is like you, took good care of my late maternal grandma and all her siblings. I was brought up by my paternal grandma, and I always hear her muttering that money that was supposed for our wellbeing all sent by my mum to her 娘家. Ok, Now I understand why you need so many annuity plans because your siblings are part of your estate planning.

Aiyo, why you estimate you only have about 10 odd years left? But I do agree that the runway is too short for someone at retirement age to start investing in property now.

Regarding your first paragraph, I can understand where you are coming from. But I believe it has more to do with the upbringing?

I’m not very worried about my children having knowledge that I have a condo or that “city living” will spoil kids. I won’t stay away from property investment for these reasons. Unless there are more practical reasons like a prolonged economical downturn, than I better not buy. Property investment is mainly part of my own retirement planning. If my children really want my unit, they probably have to wait for another 50 years! Lol. You have so many annuity plans and can afford to treat siblings to overseas holiday, how do you hide your “net worth”?

There’s a cautionary tale; Hubby told me he didn’t know his mum’s “net worth”. He thought the family was extremely poor. One night, when still a teenager, he was so hungry, he opened the fridge and the fridge was bare except for 1 bottle of chili sauce which he gulped down to fill his growling tummy. Years later when he saw his mum’s bank book (got a few zeros), he was really put off. My MIL is very thrifty but somehow, my DH and SIL aren’t, what they fancy, they will just buy. Cos DH told me they 穷到怕. So a “village living” kid may still grow up to like “city living”. And I also have friends growing up in “city living”, yet are still humble and frugal.