Retirement Resort

Here is a very good discussion on minimum sum.
http://info.channelnewsasia.com/bb/viewtopic.php?t=33132&postdays=0&postorder=asc&start=0&sid=395fc2f5b76d2e1f0bab0686eabd4573

It is a complex issue in itself. But for the purpose of this discussion, the impact of this is that you will be obliged to keep back S$120K for which the government will pay you $711 per moth between the ages of 62 to 82. If that’s all you have, try not to die before or after that age.

Let’s first concentrate on staying in Singapore. In five years time, you will find it impossible to maintain even a basic conventional lifestyle in Singapore for that sum unless you take a vow of poverty.

Here is the best Plan B for Spore retirees. This is in the form of new Elder Studios coming in at a projected $190K per unit by some estimates. You can downgrade releasing the difference in capital value to supplement your savings. You would be wise then to minimally put savings up to $500K in annuity to create an additional $2K per month for life. Together with the CPF minimum sum provision you will have up to 2.7K per month from 62 to 82 and $2K for the balance of time. You should be able to maintain a reasonable standard of living in Singapore.

If you cannot raise this amount here are few additional tips. If you need to, sell your car to scrap together this amount. If you do not wish to downgrade, you can consider putting your existing property into a reverse mortgage to raise the shortfall.

If you are still short of this sum then you can turn a page to a still controversial proposal Plan C. Terence has provided the lead. We expect that the new Elder Studios will eventually come under a new management corporation (MC) structure. Unlike present MC which tend to focus on maintenance of fixed assets and running of the estate, this MC will have extended mandate to run the estate like a retirement village or full service apartments. The MC like any organisation can then have economies of purchase. They can also provide extended services like maid services, common kitchen and transportation. If this can be achieved then we can see a stretching of the dollar and our hope for a more leisurely lifestyle here.

I would like to hear views, opinions, experiences and recommendations on living and retiring abroad. Many members have expressed interest in an alternative lifestyle.

We have been told that it is possible to live in Thailand for under SIN$500. Places like Chiangmai, Chonburi and Krabi have been cited as possible locations. Some members have even visited possible locations for a taste of the possibilities.

Here is a chance for us to collate details and share  information specifically on middle and long term experience of living abroad.

Another no frills trip to North Thailand

I am planning to enjoy the cold weather in North Thailand during the month of Nov.  This is a no-frills trip, don’t expect 4-star hotels or always proper sit-down dinner.  The last time I was there was about a year ago.

Some SilverHairs have already requested to change the venue of the last Chonburi trip.  Unfortunately, Vincent Khoo, a long time retiree, has some assignments and unable to organise a Northern Thailand trip.  Well, this time, we have someone who is crazy about mountain views, camping and sleeping at National Parks at between 10 – 20C temperature,  visiting fresh markets, sitting besides the Mekong river at 5pm, loves fresh clean air, enjoys smelling beautiful orchides, good and cheap beers, loves a cup of instant noodles, loaded with plenty of vegetables, enjoys country living and dinner on the grass at a hill resort.

His name is Sompho, speaks good English, and I would say he is great at helping us "SilverHairs" feel young.  Dont worry, no mountain climbing.  He works in Singburi province, but will take the time to bring us around.  I am agreed to join this trip.

November in North Thailand is a great time, the rain has stopped, weather should be pretty dry and temperatures should be in the 20’s.  Sweaters required. 

The schedule is not confirmed yet.  But, it is likely to be like this.  Arrive and meet at ChiangMai airport on Thur Nov 2, 12nn, and depart ChiangMai airport Thur Nov 9 by 12nn.  Itinery would include mountain resorts which you are likely not to have visited, the Golden triangle, Mekong river.

If you are interested to join this trip, please reply and register here.  We hope this trip will serve as a great platform for SilverHairs to know one another better.  This trip is strictly for SilverHairs members only.  No Children.  Closing date: 25 Aug 12nn. Max number of persons: 2 vans.

Terence Seah

August updates – SilverHairsClub

August updates – SilverHairsClub

The SilverHairsClub is intended as a platform for Singaporeans, over 45, to meet new and more friends.

1.  August online gathering has been re-activated.  For details, click here.

2.  August gathering is set for Friday, 25 Aug.  The Food Haven at the Singapore Poly was not suitable due to access reasons. Latest:  We still would like to try a new place but have not found a suitable place.  As such, for Aug, we shall use Caffe Bastillava, inside MPH, Robinson Road, between Raffles MRT and Tanjong Pagar MRT.  My apology to those who would like another place away from town.

3.  Photos of the July gathering not uploaded yet.  Should be ready early August.

3.  2Greendots Shopping mall – Registered participants will be meeting on Tuesday 01 August.  This group will set the guidelines on the use of the shopping mall.  Due to the size of the group, registration as participants for the starter group is closed.

4.  SilverHairsClub Games Day – Set for Sun, Sep 17, 2006 – 0830 hrs to 1230 hrs at Changi. Closing date for participation 15 Aug 2006.

Terence Seah

Making use of our experience and knowledge

Many SilverHairs feel that our knowledge and experience expire when we retire.  Our jobs are replaced by younger people, who have just finished formal education.  With the current environment, many SilverHairs feel that we are no longer employable, and have to take up jobs beneath our experience and knowledge.

Some SilverHairs are lucky.  And they do not have to worry about a job during their SilverHairs years.  From the membership, I see more SilverHairs ladies than men are well prepared for the future.   

But, for SilverHairs who need to have a job, what are the options?  Some of us do need a job to maintain our monthly expenses.  For others,  a job helps to pay for our desires to see the world.  And, of course, we have SilverHairs who simply enjoy being actively employed.

Complaining about the non-availability of jobs is not going to help.  It just makes us more unhappy.  Some SilverHairs have already taken up the positive step of taking up something for themselves.   We dont want to sit in the foodcourts from morning to evening.  Nor do we want to walk about the shopping centres from 10 am to 6pm.  Can we come up with some ideas to enjoy our retirement, and yet keep ourselves financially afloat?

Many SilverHairsClub members have expressed that we should do something in this area.  As a group, maybe we can do something.  We have years of experience and knowledge, developed over the years.  Let’s put our ideas here.  And, let’s respect every SilverHairs’s ideas. The more specific you are, the better.  No idea is a bad idea.

I would like to keep this topic alive, over the next two months.  At the end of Sept, we shall try to identify and summarise what we, as a group, can do for ourselves, in terms of jobs, and making use of our experience and knowledge.  I guess success will depend on what we finally do.

All SilverHairs are invited to participate.  And in line with SHC’s direction, let’s observe no religion, politics, sex, race, direct selling and MLM.

Terence Seah +65 9489-4360

My Sunday morning thoughts

Here are some thoughts in my mind. 

1.  This is about how to move the SilverHairsClub forward.  When the founders started this group, we were expecting a few tens of members.  Today, the group has grown big and sometimes, our gatherings get disorganised.  But, we would work towards improving this.

  • We have been successful with monthly weekday meetings, averaging 50 people.
  • Last month, our first weekend gathering was attended by 75 people, and this appeared too big to manage.  Our target is still to find places, which is convenient by MRT or public transport.
  • We have also another segment of members who prefers to meet online.  Our first online gathering is Sat Aug 5 at 2230 hrs at www.star-conference.com

I must admit running out of ideas, which I usually pick up during the monthly gatherings from fellow SilverHairs.  So, if you have ideas, please drop your suggestions here.

2.  The other issue is management.  I was hoping that we can easily manage ourselves with small group gatherings.  The group has grown, and this is a positive problem.  But, I can no longer handle it among a few of us.  We have a admin staff from India, to help manage the database, and that’s about it.

I dont think we can continue as it is now.  So, I was thinking we could have a team to manage the membership, especially with diversified interests.  If this is what you like, please put your name here.

3.  The club’s taboos are no discussions on politics, sex, racial issues and religion.  The others are no direct selling and MLM promotions during the gatherings.  We respect individual’s activities and business, so we appreciate members understand the club’s taboos.

We hope members do not collect email addresses during the gatherings, and then send unwanted emails to these members after the gatherings.

4.  How to get more friends to join your interests and activities?  Friendship is one of the few sought-after items, as we move away from our working lives and into the world of SilverHairs.  From  my experience, not that I have retired yet, it is very difficult to find fellow SilverHairs to join in my activities.  We need to see one another face to face, we need to know one another and we need to agree and understand the other person.  That’s why the monthly gatherings are important.  This is a place to meet.

I personally think friendship is very important, more so when we get older.  I like to establish a group of friends whom I can travel, cheaply, when I want to see the world.

There are many ideas and suggestions on what SilverHairs can do.  Personally, I think this will remain ideas and suggestions.  I hope you will take time to meet new friends, as it will take time to kick off our ideas and suggestions.  Please keep a regular date for the monthly SilverHairsclub gatherings.

Ronald Wi- Profile

I have just retired upon reaching 55 from active work, so finding myself with a lot of time to pursue the
many things i want to do.

Ready to Travel now : Making trips to Malaysia, Thailand, China and Europe, backpacking or budget tour. Very much like to visit the retirement vilage that Vincent and you have talked about, to learn about other cultures, lifestyles and people.
 
Interested activities: Golf, cycling, sailing, bowling, sking,snorkelling,fishing,table-tennis, tennis, badminton, football, darts, nooker/pools ,all table/card games, karaoke, music listening or jamming along,etc. Food, all kinds, local, Burger or Mexican mainly to hunt around or pot-lucking. Currently also re-searching into Qi Qong, and Feng Shui as a study.

Others: Researching into internet small businnes and Investments (CFD in forex,shares,Indices -this is only available with the latest big player IGmarkets, a remisier who works in POEMS says the rates and info
are much better).

Very interested also to explore the idea of the Retirement village in Malaysia, Thailand, etc to study possibility of a time share setup, that way you can spend a few months here and there.

Glad to know all of you here, and Cheers to the founders and committee members of SHC and their good efforts.

Ronald Wi (Allrounder)

Gathering at Hans Cafe

Hi Terence,
I agreed with Charles that we might able to make use of Han Cafe for our
next meeting judging from the increased size of attendees every meeting.

We might hv to consider another location instead, maybe try finding a
function room in Community Centres and pay a minimal amt for usage.  It
would be better that Silverhairs club start collecting minimal charges from
members turning for meeting so that this amount can roll over for the next
meeting of which I am sure most of the member would mind paying.

There were lots of new members present in our first weekend Silverhairs
meeting but as what I shared Yew Kwong, some groups might prefer to stick to their own group.

As I was chatting with some of new members, below are some of the activities
that they would like Silverhairs to organize apart from brisk walking and
cycling.

1) Fishing
2) Karaoke
3) mahjong
4) back-packed Europe holidays
5) Line dancing
6) Batam/Bintan holidays
7) Many mores which I cant recalled right now and the list right nw at my
office table as I intend to post in the forum but unfortunately was delayed
due to work constraints but I will post those that I left out here later…….

Terence, maybe you can help to post them in the Forum so that other members
interested can group together for these activites….

But as Yew Kwong, we can start to organize these activities but helpers are
definitely a must to ensure that activities would be successful.

Nevertheless, it is a good sign to see many new members coming forward to
join the Silverhairs club.

Dolly Lim

Shirley Khoo – Profile

hi, i have just joined SHC and would like to find out if there are any dog lovers amongst U all. If so, I would like to know if there are any doggie walks/activities that me, 54 yrs young and my 3 yr old Jack Russell terrier can join in?? please email me at musubi@singnet.com.sg

Looking forward to meet up with U all soon. Currently still working but will join in the members meet whenever I can.

Am glad to be introduced to this site!

Warm regards to all at SHC!

Call Centre job – Contact Lena Wang

I need to advise you that if there any of the members who are interested in working on a "permanent temp basis" either for half-day or full day, please ask them to contact me and I’ll arrange for an interview with my Call Centre Manager (under our third-party call centre).

 Ideally they should have some Customer Service experience. Full-day rate is in the region of $50 for a typical 9am-6pm workday.

My office tel. no. is 6416-6688, Lena Wang.

2GreenDots – a new project

Hi SilverHairs,

2GreenDots shopping mall is a very new project, prompted as a result of a number of SilverHairs wanting to have a place to offer their products and services.

The SilverHairsClub website is not suitable, as not everybody is interested in offering their products or services.  But the initial discussion groups were initerested, and do have products or services which they like to offer.  Of course, there was the physical shops, but high rents turn many off, not at a time when SilverHairs are looking to stretch the dollar.  Risks were also a concern.

A few sessions on e-auctions and small business groups were conducted by different small groups, in the last few months.  Besides the popular available internet auction sites, some groups felt the need to start an internet shopping mall.  A web specialist was engaged from India, and we now have a working internet Shopping mall.  We call it 2GreenDots Shopping Mall.  This is new, but it has been well tested.  It will also incorporate online payment systems.

For interested SilverHairs, we hope to give him/her a virtual shop.  If a SilverHairsClub member sees this as an opportunity which can bring fun and yet take him/her through the Silverhairs years, a shop name will be set up for him/her.  The idea is to do something meanful, big or small, as one enjoys his/her Silverhairs years.

We do not know if success or failure will hit us.  In the last one year, we had fleamarts, garage sales and small sales advertisement, but all these had failed.  But, from the wide experience of many SilverHairs, we know success or failure of 2GreenDots will depend on many factors.  But, there is no doubt we will give this a go, a strong go.

We target to officially launch 2GreenDots in Jan 2007.

First, we will form a starter group and later a management team with the knowledge and expertise in retail and media experience.

If you have an interest to be part of the starter discussion group, please send me an email with your thoughts.  The starter group will set the ground rules.  We will call a meeting during the 1st week of August.

Terence Seah

Online meeting – 1st Sat of month

Please register here.

This online gathering is now re-activated and rescheduled for the 1st Saturday of each month.  This facility is available for all SilverHairs to meet on the internet.  Silverhairs who would like to give a special talk or seminar need to just inform admin@silverhairsclub.com at least one month prior.  Presentations can be in English or Chinese.

In line with SilverHairsClub objective, we hope this facility can help to provide a platform for SilverHairs to get to know new and more friends.  Issues regarding retirement, hobbies, cycling, nature walks, travelling together, making friends, line dancing, qi gong practice, continued education and learning, music playing, singing, small business group discussions and over 45s information sharing are supported.

  • Venue:  At your PC with broadband, speakers and microphone.
  • Date/Time:  1st Saturday of each month, starts 2230, ends 2330 hours (Singapore time).
  1. Simply log into www.star-conference.com at least 10 mins before the scheduled time. 
  2. Conference name:  star-conference
  3. Conference password: star 
  4. Username: Your registered SilverHairsClub name.

First time users:  it will take your about 3 – 5 minutes to log in.  After the first time, it will take you only a few seconds to log in.  Members can textchat online, individually or in public mode.

Rules: Strictly no conversations on religion, race, politics, sex, direct selling and MLM during the meeting.  Participants not observing the rules will be knocked out of the conference.

Terence Seah

July cycling photos – Charles Wee

The last July cycling photos are here:  https://silverhairsclub.com/SHC/cycling060708/

SilverHairsClub supports healthy activities.  Charles Wee has led many cycling activities.  Please contact him at the SHC monthly gatherings.

SHC July gathering – registered participants

Venue: Hans Cafe, at Great Eastern Centre, China Square, Sat July 15, 1400 hrs to 1630 hrs.  Please register and an email invitation will be sent to you.  Registration close on Friday July 14.  No fees.  When you arrive, please write your name on a label sticker.  Chairwomen: Ms Dolly Lim.

Registered partipants include:

  1. Chow Weng
  2. Dolly Lim
  3. Charles Wee
  4. Loh Yew Kwong
  5. Gibson Tan
  6. Richard Kwok
  7. Patrick Yeo
  8. Terence Seah
  9. Margaret Lee
  10. Alan Tan
  11. Thomas Tay
  12. Lim Sock Hoon
  13. Tan Kia Oh
  14. Jason Tiaw
  15. Irene Lim
  16. Helena Lee
  17. Bernard Lam
  18. Molly Chua
  19. James Ho
  20. Teresa Hwang
  21. Alex Kee
  22. Jacqy Lim
  23. Loh Koot Khin
  24. Goh Teck Koon
  25. Tessie Lim
  26. Freddy Lim
  27. Zeenat Syed Masood
  28. Michael Tan
  29. Irene Low
  30. Dave Tan
  31. Richard Lim
  32. Benson Koh
  33. Lena Wong
  34. Jade Phua
  35. Maria Tan
  36. Michael Tay
  37. Annie Tay
  38. Marie Lim
  39. Victor Lee
  40. Jenny Ho
  41. Alice Foo
  42. Serene Wong
  43. Alice Phan
  44. Irene Phua
  45. Christina Chan
  46. Helen Kwek
  47. Michael Lee
  48. Henry Kong
  49. Christina Tan
  50. Teresa Chuah
  51. Jacinta Putrasahan
  52. Chow Weng
  53. Yvonne Ang
  54. Winnie Lim
  55. Seshadri Venugopal
  56. Geoffrey Foo
  57. Janet Tham
  58. Peter Lee
  59. Jane Tham
  60. Katherine Soh
  61. Chee Vui Choon
  62. May Lee
  63. Amy Daniel
  64. Josephine Yap
  65. Aktar Thaker
  66. Evelyn Tng
  67. Andrew Tan
  68. Anthony Choy

July updates – SilverHairsClub

July updates – SilverHairsClub

The SilverHairsClub is intended as a platform for Singaporeans, over 45, to meet new and more friends.

You are invited to attend the July gathering is ON on Sat, Jul 15, 2006.  Time 1400 – 1630 hrs. Venue:  China Square. Click here for Pictures of June monthly gathering.  This is the first weekend gathering, for working SilverHairs.  There will be a presentation on Job opportunities in a sector of the Tourism and IR sector by a fellow member.  Please let us know if you are planning to come, and we will send you an invitation email.  No charge, except for own drinks.  Simply register here.

1.  Membership promotion:  The membership promotion is currently on from July to Aug 2006.  New members will be joining the July gathering too.

2.  Cycling recent activities – Cycling Pictures.  For participation, please contact Yew Kwong (cycling) at lohyks@hotmail.com or h/p 97892492 or Charles Wee (Nature walks) at cwee99@singnet.com.sg.

3.  Small business activity – Following a starter group request, the setting up of an internet shopping mall has been completed. SilverHairs are invited to participate to offer their services or products via 2GreenDots.com.  If you like a shop of your own, please let us know.  Promotion of the site will start in Sept 2006, and launch Jan 2007.  If you like to participate in the management of this shopping mall, please contact Terence Seah.

4.  SilverHairsClub Games Day – Set for Sun, Sep 17, 2006 – 0830 hrs to 1230 hrs at Changi. Closing date for participation 15 Aug 2006.

5.  Website www.SilverHairsClub.com:  You are welcome to put your thoughts and opinion on the website.  Just register on site, and you are ready to go.

Look forward to seeing you on Jul 15.

Terence Seah
+65 9489-4360