My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 60, wife is 53. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you talk about how to earn passive income online and retire comfortably, let’s say $1M.
I totally agree, I'm 60 and newly retired with about 1.2 million outside retirement funds, no debt, and very small dollars in retirement funds compared to my portfolio balance over the past 3 years till date. tbh, the role of the invt-advisor can only be overlooked, not denied. just have to do your research in finding a reputable one.
talk talk talk.... should have use more infographics to explain these 4 cookie jars and whatever levels of $$$ that is supposed to be inside each of them..
Sure, you can put more money into the retirement amount but even though the retirement account earns the 4% interest. When you are in 65yo (latest at 70yo), you join CPF Life automatically. When you pass away, this interest is not withdrawal for your beneficiaries. The interest is pooled for the others who are in CPF Life. If you live a long life, the amount of extra money you put into your RA (like Enhanced 3x or 4x), could have earned more interest in other products, which is available for your beneficiaries or your own use. So, consider what you need and can do with your funds carefully.
Seniors between 55yrs and 65 yrs might be thinking of shifting funds out of CPF. Seniors are vulnerable to scams and may not be investment savy. Recent headlines involving seniors is heart breaking. The prospect of them earning back retirement funds lost to fraudsters is bleak. Imagine scammers on stand by mode and policy makers thinking not my responsibility.
It seems everytime a major CPF policy change results in making it worse for contributors. There is no guarantee all the options Lorna listed down are still valid in the future.
from what I have seen people tend to use what money they have and they end up having lack of money for retirement Don’t say retirement at age 55 they have no savings however lots of debts
Yes I agree. PAP is really good. I hope they increase the current FRS limit even higher so that people will have less money into their OA when they reach 55. 🙂
No point keep topping peanuts but keep delaying our local breed own whole-life hard-earned stressed n sweat c p f money that are ours not payment from social welfare. We planted hard are for our own fruits not for government to keep our fruits and tell us when we can eat our fruits until all rotten.
Wow, thats an outrageous amount. I've been retired for three years now, and I'm only 45 years old, thankfully i met a friend Katherine c boone, who happens to be a financial consultant, she offers excellent investment plans.
Katherine C Boone? I've heard of her. I just did a little research and found her. I'm planning to schedule a call with her soon, seems she is a professional 0:27
Yes ,Katherine! I started working with her last year , and my portfolio has seen a noticeable increase. Her expertise is remarkable, i would recommend her to anyone , just look her up
Been watching some of these videos incl the above by CNA but none are mentioning, how all these changes helping fellow Singaporean's living abroad? 1) S'porean's are not benefitting the special grants just because they're residing abroad, but we're S'poreans. So the govt don't NEED to give us these benefits? 2) How abt S'poreans who don't own any properties & residing abroad permanently? 3) At 55, all we can withdraw is 5k. How abt the usage of Medisave for all those living abroad and again for those who don't own any properties in S'pore & having a Medical Condition and /or life threatening and not able to work? We can only use it in S'pore? How is it right for a S'porean living abroad? Can CNA or any one shed some light here for the benefit of those 55 and above, living overseas? Thank you.
Problem is, inflation rate is higher than 2.5% every year. That means your money left in OA is actually losing its purchasing power over the long term.