Hi folks!
A seminar will be held on 10th December, on “retirement planning”. Out of curiosity, I am attending this event, to gather information, and perhaps, to learn a little bit…Are you interested? Indicate your interest here, and meet me at the venue.
I am sharing information with you, as I thought that this may interest you. I do not know any more than whatever that was stated. Here are the details :
You are cordially invited to the Citigold Seminar on retirement – the key planning processes involved, as well as the new implementation of CPF Life and its impact. Retirement planning in the past few years has been the key focus in our wealth management proposition due to the sharp increment in Singapore’s aging population. With adequate planning, retirement can be a breeze.
The recent financial turmoil has prompted many Singaporeans to go back to the drawing board to re-look at their plans. Let us take this opportunity to assist and point you to the fundamentals of retirement planning. We value your attendance – we would love to show our appreciation with a door gift. Most importantly, being involved in YOUR retirement planning is our greatest pleasure.
Date
10th December 2009, Thursday
Time
6.30pm to 9.00pm (Registration starts at 6.00pm)
Venue
Citibank Tampines Plaza Branch
5 Tampines Central 1
#01-01
Singapore 529541
Programme (optional)
Portfolio Review with your Relationship Manager
Followed by Talk on Retirement Planning
Sounds like another attempt by a bank to get you to put your hard-earned funds into their fun(d) account.
Please note that when a financial institution mentions “Wealth Management”, it means that you should have anything from S$200,000 to $4 million to invest with them.
Yes, being involved with “OUR retirement planning” would certainly be their greatest pleasure!
Hi Kenneth –
I appreciate your cautionary stand on investment/financial matters.
Hi Folks!
I am inclined to agree with Kenneth regarding the financial institution’s motive in “sharing information” with members of the public.
Like many people in my generation, I have a very “low-risk appetite”. So much so, I tend to keep my money “in a biscuit tin under my mattress”, almost literally….
While that appeared to be “the safest thing” to do, inflation is eroding its value…I am also thinking what else is safe to invest in…. Is there any “safe investment” that will pay more than bank interest and yet guarantee my capital? I have not found one yet… So, I am hanging on tight to my hard-earned cash. Once the hard-earned cash is lost, it is lost forever. I would not have the earning power/energy/time to recoup my losses….
So – I’m merely attending the talk, out of curiosity, to hear what they have to say. And to learn a little bit about the financial world around me…..
Yep- those of you thinking of attending this – just come to listen and to learn. Please hang on tight to your hard-earned money. If you do find something worthwhile to invest in, PLEASE –
Look at the fine print, take it home, discuss it with your family, think about it some more, ask questions. Be sure that you fully understand what you are getting yourself into. If you don’t understand the product, don’t invest in it.
Hi Jacqueline
You have exactly my views… Yes, with the current financial mess that the US and the rest of the world are in, it is imperative that we keep our money safe. That means investing without risking our capital.
I’ve just come out of a tight situation with Prudential’s Yield 15 which is a capital-protected fund with a five-year invetment period. Although rated AA at the beginning, it’s rating dropped to C and capital values lost 40 percent or more at one stage. Thankfully UOB which sold the funds made an offer to redeem the units before the June 2010 maturity.
So I just got back my original capital with nothing to show for it over the past 4 years… I guess that’s better than nothing. So, capital-protected is not guaranteed; and with 14 companies in the fund already gone bust, I just cannot take any more risks.
Yes, inflation is a demon which we all have to deal with. With the current 3.5% (unofficial figure) our money would be worth only half in twelve years. Keeping it under your pillow or in a miserable bank fixed deposit would not keep up with inflation. We are all losing money every day.
So how can we help ourselves? Maybe some of us have some ideas… can we share some of them?
Hi Kenneth
Yes. I agree with you that inflation is eating into our savings and we are losing every day.For retirees it is even more urgent that we have to take steps to address this situation as our funds are not replenished monthly.
Well as for me, I never believe in unit trusts, structured deposits and other financial tools offered by banks. I am glad as the latest financial crisis has proven.
My motto in investments is:
Do your own homework. Do not believe what the banks tell you. The bank is only your business partner. They sell you all those so-called investment products without telling you the risks involved.Why? Simple as that. They earn their commission and you carry the baby should anything goes wrong.
For me I invest in blue chips which provide me a constant income from divendends declared yearly. The yield is anything from 5% to 10%. I have been living on these dividends since I retired in 2005 without having to compromise on my lifestyle or eat into my savings.
But please don’t get me wrong. Picking the right blue chips requires a lot of hard work:reading into annual reports of these companies about the finances,balance sheets, business cycles, models, their corporate govenance and future prospects. Avoid penny stocks as we cannot afford to gamble with our money. Another lesson I learn from my 30 years of investing is: NEVER BE GREEDY.
Well I hope sharing my experience will encourage others to share theirs and I look forward to learning from other SHCians in the same boat.
Hi all,i read with interest all of your comments.Inflation stands out as your main concern.So what is “Inflation”, really? I put it as the shrinking value of your dollar. Some 60 years ago, one could buy a landed property for S$80K
Today,that same property is worth many,many times more! So, is inflation the main culprit here? I don’t think so. There are other factors, I suppose? It is therefore more complicated than you and I think. Having said that, what can one do to have a comfortable retirement?
Herein I offer 3 suggestions:
1)Earn more,save more. This may mean one has to work beyond age 60 or older.
2)Cut down on expenses. This will be at your discretion.
3)Make your money work. This means making WISE investment.