Victor68 Turbocharged May 22, 2017 Share May 22, 2017 With FD going below inflation rate, what would you do if you strike $1 million and do not wish to see that money shrinks over the years. Many would say stock, bond, funds, etc. There are also insurance schemes available. Of course for people of different age groups, you may do it differently. Any advice, suggestion? ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Ysc3 Twincharged May 22, 2017 Share May 22, 2017 at my age, just spend it all - wisely - and i can retire on the spot liow ... 2 Link to post Share on other sites More sharing options...
Leinad8919 Turbocharged May 23, 2017 Share May 23, 2017 (edited) With FD going below inflation rate, what would you do if you strike $1 million and do not wish to see that money shrinks over the years. Many would say stock, bond, funds, etc. There are also insurance schemes available. Of course for people of different age groups, you may do it differently. Any advice, suggestion? So you are the one last night. Congrats. To be honest, $1million is not enough for serious investment to bring over to your next generation. I would say surely can live happily ever after for ownself & immediate family, IF spent like how you would now. Can buy a small studio apartment if you continue to work OR retired immediately and spent time chasing a healthy hobby. You can't bring the money along to meet St. Peter anyway. Edited May 23, 2017 by Leinad8919 3 Link to post Share on other sites More sharing options...
Throttle2 Supersonic May 23, 2017 Share May 23, 2017 at my age, just spend it all - wisely - and i can retire on the spot liow ... You in your 60s already? Link to post Share on other sites More sharing options...
Neost 6th Gear May 23, 2017 Share May 23, 2017 With FD going below inflation rate, what would you do if you strike $1 million and do not wish to see that money shrinks over the years. Many would say stock, bond, funds, etc. There are also insurance schemes available. Of course for people of different age groups, you may do it differently. Any advice, suggestion? Choose a blue chip shares and hoot your S$1M. Should easily gets dividend of about $50k / annum. Average about S$4k/month. Should be eng eng everyday la kopi until the day you need to report somewhere. Assuming your kids are independent and your house is fully paid up 2 Link to post Share on other sites More sharing options...
Wyfitms Twincharged May 23, 2017 Share May 23, 2017 Singapore so expensive $4k a month how to pay for bills like water, tv phone And food (unless u eat 2 dish a meal all home cook) Travel Etc 2 Link to post Share on other sites More sharing options...
Throttle2 Supersonic May 23, 2017 Share May 23, 2017 Singapore so expensive $4k a month how to pay for bills like water, tv phone And food (unless u eat 2 dish a meal all home cook) Travel Etc Yes Thats the truth. Link to post Share on other sites More sharing options...
Victor68 Turbocharged May 23, 2017 Author Share May 23, 2017 Choose a blue chip shares and hoot your S$1M. Should easily gets dividend of about $50k / annum. Average about S$4k/month. Should be eng eng everyday la kopi until the day you need to report somewhere. Assuming your kids are independent and your house is fully paid up Can elaborate which 'blue chips' that can draw $4k monthly. would you really dump all just on stock? 3 Link to post Share on other sites More sharing options...
Tianmo Hypersonic May 23, 2017 Share May 23, 2017 how i wish I can ask this kind of question. 2 Link to post Share on other sites More sharing options...
kykh Supercharged May 23, 2017 Share May 23, 2017 1) Repay any outstanding loans 2) Make cash top-up to max out SA / RA account with CPF to take advantage of risk-free interest rate up to 6% p.a. 3) Contribute to SRS account for income tax relief. The amount will form part of the war chest below 4) Apportion the rest among time deposits and saving accounts to build a war chest ready for deployment when undervalued investment opportunities arise 6 Link to post Share on other sites More sharing options...
Showster Twincharged May 23, 2017 Share May 23, 2017 Actually if you allow drawdown on the principle (say using an annuity programme), each month can draw out $8,000, can still last about 40 years (excluding inflation). Much depends on whether you need to leave anything for kids. Choose a blue chip shares and hoot your S$1M. Should easily gets dividend of about $50k / annum. Average about S$4k/month. Should be eng eng everyday la kopi until the day you need to report somewhere. Assuming your kids are independent and your house is fully paid up 2 Link to post Share on other sites More sharing options...
Sunny Hypersonic May 23, 2017 Share May 23, 2017 Congrats to TS if won toto 10% donate charity 10% treat family close relatives go tour n Makan 0.5-1% chia friends (depending how many n how close) 20% put in bank savings (Zin case need to use cash anytime) 10% put for each child u hv 10% for spouse Balance can split some on higher risk higher return..some on blue chip If I tio toto I will do abv Standby roast goose feast (no need wait for @enye) 3 Link to post Share on other sites More sharing options...
Ysc3 Twincharged May 23, 2017 Share May 23, 2017 You in your 60s already? spend wisely ... my friend ... Link to post Share on other sites More sharing options...
Throttle2 Supersonic May 23, 2017 Share May 23, 2017 spend wisely ... my friend ... I damn prudent already, bro No loans, no debt. Everthing all fully paid. But $1mil today is not enough as i am sole breadwinner. My children still young. Monthly expenses are high and can only get higher. So hopefully i tio toto a few times over.... Link to post Share on other sites More sharing options...
RH1667 Hypersonic May 23, 2017 Share May 23, 2017 Standby roast goose feast (no need wait for @enye) 1 Link to post Share on other sites More sharing options...
Newbie26 Hypersonic May 23, 2017 Share May 23, 2017 Go Listen to 黄一飞 old Hokkien song, if I have 一百万 Go For world tour, Buy House, Buy Car, Buy shop to rent, collect rent bring dog out to relax everyday 一百万 作词:黄一飞 作曲:黄一飞 编曲:谢继麟 若是我有一百万 一百万 我有一百万 一世人就轻松 无讲无人知 讲到真歹势 吃甲彼呢大汉 搁不曾坐飞机 打拼彼多年 无车无厝搁无爱人 看人娶某搁做生意 有钱搁有势 若是我有一百万 我要坐飞机 我要游世界HAWAII晒太阳 日本吃寿司 若是我有一百万 我要买车买厝山珍甲海味 啥人卡福气来乎我做某 更多更详尽歌词 在 ※ Mojim.com 魔镜歌词网 若是我有一百万 一百万 若是你有欠用钱 开嘴免客气 若是我有一百万 我要坐飞机 我要游世界 意大利饮咖啡 路边吃Spaghetti 若是我有一百万 我要买车买厝买店来收租 闲闲免做工 带狗去散步 若是我有一百万 一百万 若是你有欠用钱 开嘴免客气 若是我有一百万 一百万 十千八千拿去用 免还嘛无问题 若是我有一百万 一百万 口白:朋友啊,你想一百万真多啊! 9 Link to post Share on other sites More sharing options...
kykh Supercharged May 23, 2017 Share May 23, 2017 Actually if you allow drawdown on the principle (say using an annuity programme), each month can draw out $8,000, can still last about 40 years (excluding inflation). Much depends on whether you need to leave anything for kids. For a present value of $1M, one will need an annual rate of return close to 9.5% to sustain the said annuity. Assuming 3% inflation, the required annual rate of return will need to be around 12.5% - may not be sustainable over 40 years especially given that one should avoid too risky investments during retirement. I wonder what annuity program would offer such guaranteed returns Link to post Share on other sites More sharing options...
Victor68 Turbocharged May 23, 2017 Author Share May 23, 2017 Actually if you allow drawdown on the principle (say using an annuity programme), each month can draw out $8,000, can still last about 40 years (excluding inflation). Much depends on whether you need to leave anything for kids. I hope I did strike that $1 M toto, definitely will try to buy toto since you guys suggested I think it is good to plan ahead for retirement. The amount of $1 M is a sum pluck out from the air. If don't have $1M, then $500K mean half the expected monthly allowance lor. Don't forget, this amount has to see the 2 old folks through our remaining years. If one retires at 65 as recommended, with average life span of 85, likely the money would have to see us through the next 20 years. Most insurance related scheme will not enjoy yield of more than 3.4%. Of course if you drawn down the principle sum for 20 years, maybe you can enjoy $100K a year or $8K pm for 2 person. What happen after that 20 years you are still alive and kicking? Some has advised parking some funds in investment funds which can enjoy around 3% return plus possible appreciation of investment. Many of us would simply just put in FD or buy some insurance or stocks. Good to hear from others how they plan while we try to save toward that plan. ↡ Advertisement Link to post Share on other sites More sharing options...
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