If you are not 67 today you can probably forget about retiring. The only thing that will be retired tomorrow is the word "retire". This is to be replaced by "work". And be glad you can work even if this means halfpay, same work and you get to report to Junior.
Annuities may soon be compulsory which means that you don’t have to worry about CPF. It will be history soon.
Don’t worry about money too. You won’t be burdened with much. Life will pass very fast. Faster if you are sick.
Medisave payouts have increased so that you can pay your fast inflating medical bills faster. Before you feel the pain it will all be gone.
How do you cope? Share. We can learn from each other.
There is an article that no senior, who is planning retirement, should do without.
ST Sat Aug 18 Money S31 “Low Take-Up Rate for Annuities in Singapore”.
There is a detail comparison of 8 annuity programs compared with CPF. Top of the list is a program that pays an annuitant from age 62 to 92 $365K compare to CPF $190K. This is from an initial single premium of $99,600. The annuity in question from Income is a participating program (only two : Income and HSBC) which pays bonus. The range of annuity payment from the other houses range from $190K to $205K, all higher than CPF. All annuity programs pay monthly for your lifetime. You start to buy at 55 and payout starts at 62.
Key reason cited for poularity of CPF is that people like to spend more now than worry about tomorrow. CPF pays monthly $790 for 20 years compared to Income’s $524 per month. IMO, I think its more to ignorance and sheer inertia. People don’t even think that they might never get to see their CPF with shifting goal posts much less than to shift their investment It’s simply too taxing and vexing on the mind. .
There is much you can do to enhance your income with annuity in the portfolio for base load. Lifestyle is an attitude. But attitude requires money to put on.
(Terence. See how difficult it is to discuss financials in words when a single table will do the job and more)
Here’s another perspective.
From 62 to curtains, you can have a monthly income of $5,240 for an investment of $1m. If you need only $2,620 then you need an investment of $0.5m.
What does it tells you in the form of a first line strategy?
The first Herculean task is to try work enough to set aside the minimum investment required at 55. You must have enough to see yourself through to 62.
People ask me. Does this means that I am heads over heels with annuities?
No. Nor do I intend to own one. I use it to benchmark my own gameplan. One is to beat it. Second, and more subtlely, it tells you when to stop and not overwork.
As one successful financier says “At the end of the day you can only eat three meals, live under one roof and drive (or be driven) in one car”.
Don’t wait until you are 92 and have to be pushed around, blind and feeble, in your wheelchair around your 24 room mansion. What type of “Reflections” can you do then except how you would have done it otherwise if you knew then what you know now.
Life on top is lonely. You find yourself the top loser in the stakes of life. Sucker !…
Hi KT, and all SilverHairs who have not retired yet,
I am no expert on annuities, but I know I am reaching 55 in 3 years. So, I am interested in the subject you raise here.
From articles in the Straits Times today, the PM’s speech, and from the low takeup rate of annuities at 55, I see the CPF option of paying CPF paying monthly $790 for 20 years, as attractive. This is where I agree on the first need to set aside the minimum sum.
Yes, there is some ignorance on this subject, and this explains why the same questiosn are asked over and over again. I guess, maybe, it is because we don’t need to decide until we reach 54 years 6 months, since the goal post keeps shifting.
For those who have not reach 55, I see two goals.
Goal 1 – At 55, and if the minimum sum is still there in the CPF, decide on what to do with the minimum sum. Not that difficult, as we just have to pick one of the available options. SHC has many advisors here.
Goal 2 – $790 may not be sufficient for today’s lifestyle. You have worked out that to receive $2,620, you need an investment of $0.5m. Many of us still have dreams of travelling the world, continue to enjoy today’s comfort, and meet our household expenses. Each of us have our ideas, so let’s table it. KT, I agree it is difficult to table in words, so we can have a round table session on this important topic. We did have some ideas at a recent monthly gathering, but we dont have enough topics to make the discussion more solid. I guess everybody wants to listen to what other SilverHairs are doing.
And for everybody, feel free to wonder on this topic, at this forum.
Terence Seah
Why this sudden rush of adrenalin?
After 6 months of selling, I am a reborn buyer now. This is as much for myself as it is for you guys. This is to kick start “ye ole war machine”.
May The Bull Be With You.
Hi Terence,
For whatever it is worth, do study all options with available instruments. Do not put all your eggs in one basket! Even if that particular basket shines brilliantly and out performs beyond your expectations. In a mad matador bull run scenario, green horns would normally go berserk and buy beyond their threshold. Really, it is sadness all round, when an individual’s greed comes into full play.
Triple sad, when he borrow and borrows to burrow in..
Cheers, Edwin Chen
My last take on annuity today.
After all the M’s have their say, the next phase is “Persuasion and Punishment”.
Punishment is when it becomes inevitable. It becomes law. Mandatory conversion. Take it or take it. No choice. Don’t wait till then. You’ll have it shafted both ends.
Take it at the initial offering when they are trying to be seen persuading you that its a good thing. This is when you are given the best rates with movie tickets, shopping vouchers and lottery tickets.
There is also a secret exit loophole. When you contract to be paid by 62, you have insured yourself today against tomorrow’s goal post shifting. This is legislation proofing. Let the other guy chase the dangling carrot.
Don’t miss “Rush Hour 4”. Otherwise, you’ll be the clown in the show.
(BTW, you can start the program at any age other than 55. Its a delay payment program. Strictly speaking, without opportunity costs, the earlier you start the better.)
PM ND speech confirms.
Three major changes to the CPF:
a. Higher CPF interest – 1% more on first $60,000
b. Later DDA – from 62 to 65
c. Compulsory annuities – for those now below 50
For $600 pa more, some are suppose to be so grateful that we will work till we are 67. You’ll need to top up annuities and live happily ever after.
On #8 (a) above:
Thought I heard “1% more but cap at $60,000 max”.
Right. $600 pa or 1% of $60K max. Details later. Otherwise, it might have been rather embarassing. Spoil the mood.
The full text of PM’s ND 2007 speech is here
http://app.sprinter.gov.sg/data/pr/20070819990.htm
Spent the whole night analysing the speech. Just in case, we have to stand-in-line this morning for whatever goodies that they are handing out. Should have gone to bed or watch a re-run on TV.
Best guess for Monday trade – market neutral; gone to sleep. Yawn ….
This is the most important national policy statement on senior issues.
Pay particular attention to following sections. See my quick lateral thinking takes on how to actually exploit the situation to the fullest
(a) Working Longer – forget employment; try to employ/exploit old foggies instead; more work for less pay. And get them to report to junior using their starting fresh-out-of-school pay to cap wages.
(b) Improving CPF – take initiative to maximize annuity transition or be marginalized
(c) Upgrading & Renewal – Move to pungol quick, quick. Buy into fixed-uppers. Be a landed eco-farmer like Ivy Singh. Take your parang and clear every patch of grass land and squat. (Try not to squat in the middle of the proposed man-made lake)
That’s it guys. Unless you can live beyond 120 or reincarnate, the entire payback this life is in outline.
Then again if you must reincarnate, try a richer family. Try to call an ex-pig-farmer, now-real-estate-tycoon from Punggol, dad.
Hi KT & others,
If you folks believe in reincarnation,yes do come back as landlords but please, not here on our little island!
The poor Ponggol farmers had the daylight knocked out of them when they were told to move out. Same goes to the people at Ubin. We are talking about acres! Compensations? Pittance! Check it out.
Cheers, Edwin Chen
Be thankful, be grateful cos none of us is an elitist, raised and graduated from an elite school, but now we have the elites guiding us to ultimate financial security and rewarding us with more good years…………………working.
Keep up with the roaring good times, ride at the head of fashion. “Nobody shd worry abt not having a roof over his head” is obviously an off-beat talk now. Forget it.
“Affordable housing” is in keeping with the times. But dont fault them for not defining “afford”. If I cant, it’s fair that they cant too.
If they say they care, of cos they do.
So new money making opportunities are created. The sp-pooots are very innovative and offers you many different bet types to make a lot of money so that you work only for fun while danzing & dicing with the god of fortune which has to be a good hobby if it’s so widely promoted.
So I bite – hook, line, sinker & all.
Out of 7 matches I wagered on yesterday, I was spot-on on only 1 but still made $ (nvm that the day b4 it was si kiao kiao).
So dont they deserve exaltations (do forgive them for the palpitations caused us), accolades & chocolates for creating new ways to supplement our income as we get to work longer?
sigh………..got caught in the first cohort
of 57 years old and can only DD at 63years. Already make plan when I hit 62 and now got to
wait one more year. With the fast-pace of life
here how many can live to 80 years? Ha, Ha, I think I will also go to Japan and pray for longevity and a good death.
Thanks to KT for painstakingly analysing and sharing with us his vast knowledge on retirement planning.
We might not have this problem if we know when is our last day on earth.
Hi Guys!
The gahmen has moved the goalposts again with the latest CPF changes!
And our fine minister is talking about a long-life annuity paying $250 – 300 when you’re 85!
Doesn’t he know that with even a low inflation rate of 2%, $250 – 300 in 35 years’ time (assuming you’re 50 when you enter the scheme)will be worth less than half? Just imagine all the 85’s then having just enough for a cup of kopi-o a day!
Ha! ha! ha!
‘Cos our fine ministers never experience what is life with only $250-300.
Crappy talk.
Arrrh………….
Policy changes can and will become social issues affecting us. Being the feeling homo sapiens we all are raised in a caring society, we’ll vent & ventilate our joy and frustration as the case may be.
But it might unbalance Terence for non-adherence to OB markers if we inadvertently join paul-to-lick-ticks. By all means, damn the ticks with paul for being blood suckers, and that’s all.
So perhaps no reference shd be made to anyone in name or office, and keep a social discussion true to what it is.
Hi Wong Kong Thean,
You wrote….
1) From 62 to curtains, you can have a monthly income of $5,240 for an investment of $1m.
2) If you need only $2,620 then you need an investment of $0.5m.
I am interested in the above policy of $ 2 620 with an investment of 0.5m.
a) Can you pls.enlightened me with more details ?
b)Which organzn is it,
CPF or ??? ?
Thanks and waiting for your VALUABLE advice.
Steven Chan
Hi Wong KT,
I am already 53 and approaching 55 and will be drawing my CPF ( OA + SA ) in 2 yrs. time leaving behind a Min sum of 99 600 and my home is fully paid using CPF money.
Subject to LOW RISK, which kind of investment should I go for?
Not shares, Bonds, Unit trust or Structured fixed deposit which is of HIGHER RISK.
You wrote…CPF pays monthly $790 for 20 years compared to Income’s $524 per month. Annuity?
Is there any advantage if I will to buy CPF Annuity earlier at 53 and not 55 ?
Any idea ,which orgzn give the BEST annuity in terms of lump sum min sum of $99 600.
Thanks
Steven Chan
Steven,
Don’t you get it. CPF is history. The only basic thing forward is annuity. So look out for the best deal within these two years.
Assuming that you have paid for your house and car (if you need one), the ideal safe plan is to put enough in annuity to pay for basic needs for life after 62. According to a recent ST survey, Income and HSBC heads the pack for annuity. The rest goes into higher yielding investments.
It is a good time to buy local blue chip equities between now and Oct for the long haul. Join the SHC Investment Club if you want more advice.
Of course, a good aggressive and large ticket investment in Spore would be real estate. Choose an enblocable older apartment with good rental.
Kenneth, Rene
Don’t you get the message.
Its half a cup of coffee here or a full cup elsewhere. In other words, get old somewhere else. You make your home where you can afford. Don’t burden the rest with your tears.
My take? Take the advice.
You can build up equity with most annuities by either starting earlier and/or decline to drawdown on the months that you don’t need the money.
Theoretically, you would want to snowball the equity in your annuity provided your alternative investments eg stocks do not yield as much as the annuity. If your other investments yield more you should be taking your full entitlement and reinvest in the higher yielding alternative investments. Read the fine print if you think this applies to you.
In terms of funding for annuity and other investments, you can think of selling back the balance of lease to HDB or reverse mortgage in case of private property. (Can you keep a secret? I heard that they won’t kick you out if you live beyond your kick-out date. Even if you lived a totally decadent, immoral and wanton life. Wasted your money on wine, women and song. And have no money left … )
There is a catch. It is easy to optimize the strategy if you know when its curtains for you. Most of us do not have the foggiest idea when we exit.
So in the end, we will still have to gamble with our lives. Try to be like a Japanese product. Breakdown once the warranty is over.
KT, there is an SHC Investment Club? May I join? I am ignorant about investing and put most of my money “under the pillow” and “in biscuit tins”. I hope to learn from those who know and are willing to share.
When does SHCIC meet and is there a regular meeting place? Thanks.
Joy and others interested in Investment Club (SHCIC)
Actually all SHC members are already members. Like all other SHC activities, all you have to do is to walk in when something is on. We have no problem with that part of SHC culture. It is the other part ie “cheng kay tops up” that we have some details to work on. If we have US $10 mio in the market and it runs against us, this may present some small technical difficulties. It is not like just a sandwich which somebody ate and didn’t pay. But look at the bright side. We may also win big…
Hee hee. Just joke. It is safer than driving and , some say, better than sez.
For newbies, I would advise to start off :
(a) Organize your CPF to annuity transition. This is your base load. This is different from the old CPF wich is more like a special fixed deposit. You can move in and out of other investments. Annuity is generally self-contained (although there are hybrid posibilities) and less flexible like a long term bond. Once you commit to this class of investment, you do not switch. You would typically commit from $100K to $1 mio to annuity. The advantage is that they will pay you monthly for life like a lifetime pension.
(b) Any surplus which you can afford to lose should then be placed in higher yielding assets. Everybody know about stocks. What most people don’t know is that you can brainlessly manage your portfolio of blue chips efficiently like a pro with a few simple tricks. Eg. Buy blue chips when they are down like now and sell their CFD (contract-for-differences) to insure against market weakness.
SHCIC hopes to organize annuity talks by the various houses for members. Will the guys from eg Income and Manulife contact us. We can gather to attend one of your standard talks or you can get your expert to come around to one of our meetings.
SHCIC hopes to go live with trading workshops for forex and equities soon. When? Hard to tell. But when it happens you’ll be the first to know. At this point in time, it looks imminent.
Hi Joy,
Sometimes ignorance is bliss! Listen in by all means, but don’t part with your “loaded pillows & tins” till you are thoroughly convinced! Gosh, it rhymes!
Cheers, Edwin Chen
Goodmorning Wong KT,
Thanks for your advice but appreciate if you can elaborate on the questions I asked you in my email.
Went around to other
Financial Planners from Maybank, OCBC,DBS,Prudential,Aviva and lately NTUC Income as I am interested to invest a lump sum from OA and SA but landed up getting “MORE” CONFUSED and FRUSTRATED than ever as some of the planners are quite agressive in their approach and I dislike that.
As mention, I am NOT investing into stocks,bonds,shares or structured fixed deposits as this is of HIGHER RISK and I CANNOT afford to take risk as this is my hard earned retirement savings and with no fixed income and with NO dependant .
I would like to retire with more time to have a quality life and not “married” to work as before.
If possible, would like to have a good leisure holiday on board the Princess Elizabeth Cruise to the Carribean Islands,my lifetime “dream”.
To own another condo is out as I need my retirement $ for survival.If still working may consider or strike lottery and win soccer bets or Toto – FAD hope.
And that is why I really need “sound” advice before I commit myself and is high time I need to generate more $ after leaving it in CPF for so many years.
I will not hold anyone accountable as the final decision is made by me and I am VERY NEW in this area of Investment/Anniuties and had little knowledge of investments.
Appreciate very much if you can elaborate in more details if you were in my “shoes” with my above conditions how would you invest “WISELY” ?
Thanks and looking forward to your reply.
Steven Chan.
Steven
You’re one of the lucky ones! Don’t need to set aside more and more SA (Mininum Sum) to fund your annuity and soon, to fund a Long-life Survival Fund, too!
Yes, an annuity may look like an ideal way to fund your retirement… but the way it is going in Singapore, you are locked into your CPF. Your Minimum Sum keeps getting higher and higher, the yields keep getting lower AND you’ve got to wait longer and longer for your payout! Age 62 now, then 65, then 67…. ??
My suggestion: Use your CPF funds to generate the higher yields in SA account. Do not commit to an annuity now… as the returns are really peanuts! Keep the money in CPF and wait until you’re 62 (or whatever withdrawal age then) before you decide what to do. You can always opt to buy an annuity at that point.
Yes, all the banks, insurance companies want you to invest your CPF with them, whether in OA, SA or unit trusts… because that’s the way they can make money. So you have to be a bit more discerning and, even wary.
There are many other ways to invest your CPF funds yourself. For example, you can open a trading account with a broker and use your funds to buy ETFs which are like index stocks. This is a lower risk way to participate in the growth of our Asia region.
I am sure there are many other views and opinions, and you should seek the kind advice of many of our well-informed SHC members.
Kenneth
Edwin, Completely, totally agree with what you said.
Joy, better read Edwin’s comment #25 carefully, again and again.
Steven, on investing your hard earned money, keep your investment strategy simple.
Base on your low risk profile,and assurance for security, leave some of your money in CPF, some in Fixed Deposit(currently Maybank offers best rate.), and some in blue chips, eg UOB , DBS,Telecoms,Keppel etc. Over time your investment in shares will give you a much better return.
Don’t be too ambitious, just aim for an average return of about 5% pa., allocating your available investment funds, 20% in shares, 30% in CPF and balance in Fixed Deposit.
Of course, don’t forget to bet on 4D or Big Sweep!! but you must immediately expense them of. If Lady Luck smiles on you, good luck.
Hi Andrew Yeung,
Thanks my man. Right or wrong, my late dad repeatedly nagged on me … “When you set forth to seek your fortunes, you must have three sets of eyes. One looking skywards, one as per normal and the other looking downwards!” to be contd. Next episode.
Figure that one out, cheers!
Edwin Chen
Charles,
Good intention but mistaken. Understandable.
It is amazing how when I say to people that CPF is history that you get a glassy look as if the listener is in deep shock.
The faster you adjust the better. Time is money. So get on the new horse asap.
Below is the verbatim excerpt from PM’s ND speech. If you catch no ball, don’t blame yourself. 99.99 % of Sporeans are in the same state of denial.
14. CPF allows annuities too
a. Can convert Minimum Sum to an annuity
b. But voluntary, not compulsory
c. Few people take it up
i. Singaporeans do not quite understand annuities, or the need for them
ii. Returns are not very attractive
d. But we still need annuities
15. Will make some form of annuity compulsory for CPF members
a. Will apply to those now below 50
b. We will study, consult industry, educate CPF members, and work out a detailed scheme
Charles, Edwin, Ken et al
Thank you for sharing. All of you are right in your own way. The appetite for risk/return is situational and personal.
So what’s right for you?
Start with cost. I am amazed when I tried to publicly ask SHC audience during the last two meetings what their estimated monthly expenses are. From the sound of silence, it would seem that few have but the foggiest idea of what they spend or hope to spend.
This is not good. Before you set your financial target, you must know how much you wish to make in order to sustain you in the lifestyle that you think you deserve. The more you try to make the more risk you will take. So don’t overdo it. Optimize your portfolio.
Worse than overdoing it is flying blind. So look at your cashflow. You simply have to structure your future revenues including earnings, annuities and income from investments to cover your expected lifestyle expenses.
If you don’t know what you want, you will probably get what you deserve.
POOR, MISERABLE AND DON’T KNOW WHY.
Hint: Try get rid of your big ticket indebtedness ie car, house, club before you retire from a steady income. Try do without the item if you cannot retire the loan. If you can do this then you can probably treat yourself to a comfortable lifestyle on investments alone.
You can do so by restructuring your liabilities. Eg. downgrade or sell back unexpired portion of lease will release capital to help you cover other big ticket items.
Hi Charles,
Thanks for your advice.
Steven
Hi kenneth,
Thanks for your advice/suggestion.
Steven
Charles,
5% pa is not half enough to stop the drain. Annuity can give you up to 6 to 7% with bonus. Take this as the risk free rate and try to beat it.
To beat real inflation properly you should aim for a minimum 8% pa. 10% pa if you want some room to breathe. This includes your overseas tripping and occasional night out.
Another useful way to look at this is in absolute terms. If you need $3.5K per month to sustain your lifestyle, then aim for this return on your portfolio. Put more capital to work even at a lower rate. Presumably, you will run your investments safer and at a lower risk.
Thanks Edwin and Andrew for your words of caution. I appreciate your concern.
I am risk averse and guess I will be keeping my Khong Guan biscuit tins and foam pillows.
Just that I was wondering if there might be a Marks and Spencer biscuit tin or down feather pillow somewhere…
Hi Wong KT,Charles and Kenneth Tan,
Thanks so much for your financial advises/suggestions.
I will print them out and study them carefully before I made the FINAL PLUNGE.
With Appreciation,
Steven Chan
Biscuit tin and golden pillows are probably the most dangerous of strategies. On a $3K per month of expenses, $100K of cash stash lasts 3 years. Typical household cash savings (including liquid investments) do not exceed $500K.
Unless replenished, most cookie jars will run out of cookies under 15 years.
One way out is to live out. Eg one can halve expenses by living in Malaysia or China. Retain a room in your HDB for homestay and rent out the rest. Living 3/4 plus of the time abroad can stretch your cookie jar to 30 years.
Do members currently having a second home outside Singapore agree?
There is a Retirement Ready, Easy as 1-2-3 Roadshow by CPF Board from today till Sunday, 11am to 9pm at Central Atrium, Marina Square.
There will be tips on financial planning from leading financial institutions.
Hi Joy,
Thanks for the info. Have a nice day!
God bless, Edwin Chen
Thanks to Joy for her CPF Roadshow tip. Here is the link for details
http://mycpf.cpf.gov.sg/Members/Retire-Plan-Games/Retirement%20Ready%20Roadshow%20and%20Seminars.htm
There is also a separate series of seminars in Sep. Surprisingly. they are not free. Is it a message to tell us all that retirment is not cheap?
We can only hope that members who attend can be good enough to share tips on this column.
I will hop down to look-see at 3 pm today. So if any of you are there we can meet and chat. With luck, I will try to see if we can arrange for a free talk/seminar for SHC.
Hi Joy,
I don’t really know the exact dimensions of a Marks & Spencer biscuit tin but certainly in the old days, my grandma used to packed them in Jacobs’Crackers square flat tins.
She learnt an expensive lesson though, after the Japanese surrendered and left Singapore, her collection of banana notes started its new career as wall papers for our ancestral home!
Have fun, continue packing!
Edwin Chen
Hi Wong KT,
Re: CPF Retirement Road show at Marina atrium.
I am glad that you are going down TODAY and
Steven will like to meet you at the Roadshow at 3 pm.for a look see and then we can chit chat and can have a cup of coffee at Gloria Jeans/Starbucks nearby.
Have I met you before ?
Btw, I am 1.92m,VERY VERY TALL for an Asian and will be wearing a bright RED National Day T-shirt for Easier identification.
Hope to see other SHC members too at the Atrium TODAY at 3 pm.
See you there,
Steven Chan
Hi KT & Steven Chan,
Sure wish I could fly the national flag and join you guys but I have got church music practice to attend to and it finishes late.
KT, would appreciate your further input on the subject,if any, after this visit.
Cheers guys, have fun!
Edwin Chen
Hi all,
OK. We have an instant gathering for all interested in retirement planning.
Venue : Gloria Jeans/Starbucks
Time : 3 pm
If we are not at Venue try the CPF roadshow. We may be trotting around. We’ll see if we can get the agency and houses to come and give us talks.
Look out for the odd couple – giant (red T-shirt) and dwarf (still deciding what to wear). The dwarf will try persuasion. The giant will make sure they show up.
Seriously, even if we don’t meet make a point to put every annuity house on your radar. Ask to put you on their mailing for offers/deals. The market will be scrambling for the huge CPF privatisation program. Early birds will catch the fattest worm. Don’t wait till they send you the pink ticket.
Hi Joy,
Thanks for the CPF Roadshow website link.
Steven
Hi Wong KT,
How can I identify you while you are trotting around ?
It is like finding a needle in the hay stack if there is a huge crowd.
What will you be wearing ?
Steven Chan
Oh KT and Steven, hope the CPF Retirement Roadshow was good.
By the way,there is an INVEST Fair at Suntec City, Level 4, Hall 404 this Sat and Sun from 10am to 6pm. Admission is FREE.
Actually, one of the best ways to manage your finances is to remain employed for as long as you can. Then your medical expenses, and dental expenses for dentures, will be taken care of by the company.
That’s why I don’t plan on retiring, at least not at the moment. Going to work is like going to a social club and work gives me a sense of purpose and belonging.
Wonder if other worker bees feel the same way…
Joy,
Thanks for the tip to Invest Asia at Suntec Convention 4th floor. Tomorrow is the last day to catch some talks. I encourage everybody to go. You can’t find more investment info under one roof at the same time.
Had the company and counsel of Dennis Har and Choo today. Yesterday, Steven was with me on annuities and CPF.
Many free seminar talks but very crowded. Some standing room also not enough. Suggest bringing portable chair or sit down and not move.
Here’s what I found interesting so far.
(a) Fine wine investment. (not endorsing as an investment; still trying to figure how to hustle free drinks)
(b) Free Chang beer tasting at 5 pm.
(c) RaboJet Series 5. Exotic equity derivative with a knock-out feature on three exchanges – Bursa, SGX and HK. Daily Lock-In Certificates Up to 20% pa. So there’s life after CPF.
http://www.structuredproductsonline.com/public/showPage.html?page=463015
(d) Zero certs from ABN AMRO – this is an alternative product range to ETF, Warrants and CFDs. No time decay so time out is not important.
(e) Talked to various houses about giving free annuity talks. Also on selection of broker for SHCIC.
(f) Sign up to zillions of talks at various houses. Enough to last a lifetime of retirment. And you were just thinking about what to do AW (After Work)? Listen and get rich. Huh, you hope !
(g) Adam Khoo has a interesting series of previews lined up from Aug to Sep.