Do You Want To Retire Before 60 ?

[AlfaLove]

 

let me summarise my observation in a few points:

• from your reply i can only say that you are making  loads of assumptions.
• you are a greenhorn that have not seen the world enough
• you are still thinking that this world is perfect for everyone
• you have too much yet to be coached
• you do not have sufficient regional management exposure that you could not even understand the regional dynamic and the challenges that SGPrean are facing that I am talking about
• and also, go search again my posts and see if I have ever used a single word "blame"

 

 

Sorry but I think it is you who are making assumptions of others who point out the fallacies in your statements.

 

Unless you have worked and been a top management in many diverse industries, you yourself cannot pronounce your own view as the be all and end all absolute correct situation. You are not the absolute authority on retirement and successfully transitioning into work as an senior worker, are you?

 

btw I have seen enough of the world, and count ang mos in europe and japanese in japan as friends from work. Can you say the same for yourself?

 

My main point is that all singaporeans have enough time during their work years to plan and prepare for work that they enjoy and that is interesting and fulfilling. Anyone who says no time and no money is not telling the full picture.

 

You worried about retrenchment, but doing nothing to prepare your finances, investments or personal skillsets?

 

Sorry to be so direct, but I think we should all talk openly and honestly since we are above 50 already and been working for decades, whether as employee or business owner.

[AlfaLove]

Huh? You are assuming everyone is a plumber or electrician?

 

Just kidding but you really simplify everything for everyone. Thank you.

 

No, I think even in desk-bound admin white-collar middle management job one should always be aware of one's future potential.

 

What is it that you really want to work in or become expert in? What are you willing to do to get there? Why settle for ordinary and average?

 

It is the comfort zone and complacency that a regular salary brings that is the worst enemy of personal achievement and success.

 

As for simplifying everything, what could be simpler than focusing on your own standards and skillsets? Why would you want to accept lower standards for yourself?

[BanCoe]

When skool holydays start ?? Look like early start this year .......ok ok me back to table wiping from top to bottom level , me Preambree skool oni studi 1 n double consperm that too , tio Boh @angcheek

[Ct3833]

When skool holydays start ?? Look like early start this year .......ok ok me back to table wiping from top to bottom level , me Preambree skool oni studi 1 n double consperm that too , tio Boh @angcheek

Skrew holiday!

[Throttle2]

@ct3833

@voodooman

 

Bros, am sure you know who he is right?

 

Last time kena whack

Now come back with new nick

 

Wasted my time talking to him

Dont even hv the guts to use his original real nick

Ignore list

 

Cheers

Edited May 27, 2019 by Throttle2

[Ct3833]

@ct3833

@voodooman

 

Bros, am sure you know who he is right?

 

Last time kena whack

Now come back with new nick

 

Wasted my time talking to him

Dont even hv the guts to use his original real nick

Ignore list

 

Cheers

Thank you T2, I have stopped wasting my time with him already, lets move on and post happier stuff here.

[Kusje]

To pay no tax on srs withdrawal. Only can 200k over ten years no? And its zero interest inside. So unless annuity. Have to make sure the amount u withdrawing is in bonds. Though there's a35 on sgx.

 

I put for like two or three years but I think this tax avoidance is too difficult to predict. I'd rather not take the tax savings now.

 

can buy ssb with the srs so there's interest there.

Hmm oh yeah. Forgot can buy ssb now with it. Es3 u buy. What happen if GFC version X happens during that 10 years of draw down? Lol

 

Doesn't matter as long as you also wanted to invest.

 

At most, sell - draw down - rebuy.

[BanCoe]

 

Skrew holiday!

Driven an Alfa lately Edited May 27, 2019 by BanCoe

[Privacy]

Tao kay ... those earning at 22% tax bracket , wont be worry abt such small amt ... that 15k likely become their holiday trip per pax already . ð

i must be the minority... haha i do care about the amount therefore i put in srs... 22% for 15k is 3k...

 

if i ever lose my job and i need to take it out, its 5% penalty... va 22%...

 

this can be the piggybank of last resort if you think about it.

 

ps.. 5% applies if u r jobless for a year as income tax needs to be 0...otherwise will be taxed at prevailing +5%

Edited May 28, 2019 by Privacy

[Ct3833]

i must be the minority... haha i do care about the amount therefore i put in srs... 22% for 15k is 3k...

 

if i ever lose my job and i need to take it out, its 5% penalty... va 22%...

 

this can be the piggybank of last resort if you think about it.

 

ps.. 5% applies if u r jobless for a year as income tax needs to be 0...otherwise will be taxed at prevailing +5%

People who are in the 22% bracket like you will never have to touch the money whether jobless or not , but you brought up a good point about the 5% tax when one desperately needs the money. But I also believe most of the SRS money are invested in one way or another. My approach is spread into some better unit trusts and forget about it, any upside will be good, loosing a bit is not going to make me poorer. Edited May 28, 2019 by Ct3833

[Mercury1]

Yep agreed Singapore is a pretty vulnerable lot in the region, don't say Singapore even my friends in Indonesia who manufacture garments is feeling huge pressure from China companies and this just reverberates thru various manufacturing concerns.

 

Even in banking its also tough tougher, if my previous firm didn't mandate a Singapore hire policy the entire firm would probably be taken over by foreigners.

 

 

obviously you are familiar with the situations I mentioned. When one is unable to grow revenue enough,  the only next way to grow profit dollar is to cut cost. This kind of game is very common in those companies involved in the wall street casino, it will not  happen in a public sector , or even in some local listed companies.  In some industries, the next round is always the next quarter, endless cost take out.  Unfortunately,  SGPrean is the most vulnerable bunch of all in this region, those who understand what i mean would understand. 

 

[Ct3833]

Driven an Alfa lately ð¤£ð¤£?? Itâs the Truth

There are two types of people will drive Alfa:

1. Die hard , which is not wrong because they know what they love and know how to handle it .

2. Clueless.

Your guess?

Edited May 28, 2019 by Ct3833

[RogerNg_185295]

Can you prove what you have said below?

 

have seen enough of the world, and count ang mos in europe and japanese in japan as friends from work

 

 

Sorry but I think it is you who are making assumptions of others who point out the fallacies in your statements.

 

Unless you have worked and been a top management in many diverse industries, you yourself cannot pronounce your own view as the be all and end all absolute correct situation. You are not the absolute authority on retirement and successfully transitioning into work as an senior worker, are you?

 

btw I have seen enough of the world, and count ang mos in europe and japanese in japan as friends from work. Can you say the same for yourself?

 

My main point is that all singaporeans have enough time during their work years to plan and prepare for work that they enjoy and that is interesting and fulfilling. Anyone who says no time and no money is not telling the full picture.

 

You worried about retrenchment, but doing nothing to prepare your finances, investments or personal skillsets?

 

Sorry to be so direct, but I think we should all talk openly and honestly since we are above 50 already and been working for decades, whether as employee or business owner.

 

[Angcheek]

Which Investment type did you choose for your SRS ?

 

 

https://dollarsandsense.sg/10-investments-can-make-srs-account/

 

# 1 Stocks

You can invest in stocks listed on the Singapore Exchange (SGX) with your SRS funds. We don’t have to invest via the banks administering our SRS accounts – we can continue using our brokers in most instances.

This is especially handy for investors who are already funnelling their savings into locally-listed stocks. This way, we are just going to continue making investments, while saving on our taxes in return.

Read Also: Singapore Online Stock Brokerage Fees Comparison (2018 Version)

# 2 REITs

Similar to investing in stocks, we can invest in real estate investment trusts (REITs) that are listed in Singapore. Again, since REITs are bought and sold like stocks, we can continue to use our existing brokerage firms to make such investments.

REITs tend to pay out higher distributions, and we need to note that these distributions will be channelled back into our SRS accounts rather than come to us in liquid cash.

Read Also: S-REIT Report Card: Here’s How Singapore REITs Performed In Third Quarter 2018

# 3 ETFs

Short for Exchange Traded Funds, ETFs are becoming increasingly popular investments. ETFs typically replicate the composition of a broad index tracking regional or country indexes, stocks in a particular sector, REITs, bonds, commodities and other financial instruments.

In Singapore, there are two ETFs tracking the country’s Straits Times Index – the SPDR STI ETF and the Nikko AM Singapore STI ETF. There are also bond ETFs, the ABF Singapore Bond Fund comprise bonds issued by the Singapore government and Singapore government-linked entities, while the Nikko AM SGD Investment Grade Corporate Bond ETF comprise corporate bonds issued by investment grade issuers. There are many other ETFs also listed on the SGX, with three REIT ETFs, the SPDR Gold Shares and many others.

Read Also: Step-By-Step Guide To ETF Investing In Singapore

# 4 Bonds

Several bonds are also listed on the SGX, and we can invest our SRS funds in these bonds. These are recently issued Temasek T2023 S$ bonds and Temasek-linked Astrea IV private equity bonds, as well as retail bonds that have been listed on SGX.

Read Also: Step-By-Step Guide To Bond Investing In Singapore

# 5 Singapore Savings Bonds

We were not always allowed to invest our SRS funds in the Singapore Savings Bonds (SSBs). This changed in December 2018, when the Monetary Authority of Singapore (MAS) announced that they would allow investors to buy SSBs using their SRS funds, as well as double the amount of SSBs that an individual can hold to $200,000 from $100,000 previously.

Read Also: [2018 Edition] Complete Guide To Buying Singapore Savings Bonds

# 6 Regular Shares Savings (RSS)

A regular shares savings (RSS) plan allows us to start investing in stocks, bonds, ETFs and REITs listed on the SGX from as little as $100 a month. It is ideal for investors with limited knowledge and interest in monitoring their portfolio to start their investment journey.

In Singapore, there are four brokerages currently offering RSS plans – OCBC Blue Chip Investment Plan; Maybank Kim Eng Monthly Investment Plan; POSB Invest-Saver; and Phillip Share Builders Plan. Each has its own specifications of which types of shares we can invest in and brokerage charges we have to pay.

Read Also: Step-By-Step Guide To Investing Using A Regular Shares Savings Plan

# 7 Robo-Advisory

As more investment tools become available to us, we can also start incorporating them into our portfolio. Majority of robo-advisory firms aim to utilise complex algorithms to offer retail investors access to professional portfolio management services.

Founded in 2016, StashAway uses an Economic Regine-based Asset Allocation, its proprietary investment strategy to manage portfolios. It also charges a competitive rate and advocates investing over the long-term.

Read Also: Step-By-Step Guide To Opening An Account And Investing Through Singapore-Based Robo-Advisor StashAway

# 8 Unit Trusts/Mutual Funds

We can also invest in unit trust and mutual funds with our SRS funds. Remember, this extends to unit trusts outside of the three SRS administrators – which means we are not limited to investing in unit trusts that are sold by them.

Platforms such as FSMOne and Aviva’s Navigator allows you to invest in diverse unit trusts investments with your SRS funds. These platforms also enable us to choose the regions, sectors and even fund managers we are comfortable investing our funds in.

# 9 Insurance Products/Annuities

We can also put our SRS funds towards insurance products and annuities. On this point, we have to note that there are restrictions on Life Insurance products that we can buy. Typically, we can invest in only single-premium products, including recurrent single premium products. We also aren’t allowed to purchase critical illness, health and long-term care products with our SRS funds.

We need to check with our agents and/or insurers if we want to invest with our SRS funds. MoneyOwl is an example of one such platform we can use to purchase retirement income plans with our SRS funds.

Read Also: MoneyOwl (Previously Known As DIY Insurance) Has Launched: 5 Things To Understand About Its Insurance Advisory Platform Before Using It

# 10 Fixed Deposits

If we are extremely risk-averse and unsure of what to do with our funds, we can invest in fixed deposits rather than let it sit idly in cash. This way, we’re pretty much exposed to the same extremely low level of risk but receiving a significantly improved interest rate return on our SRS funds.

Read Also: Beginners’ Guide To Fixed Deposits In Singapore

 

Edited May 28, 2019 by Angcheek

[Mercury1]

Lol I don't think he needs to prove it bah, whats the big deal about "seeing the world" and knowing some Ang mo. Almost anyone from my company would traveled a fair bit many nationalities, some the countries we go to for business even requires the yellow vaccination card. I wonder how many people have this also.

 

We should debate based on logic and not said persons ego    (not in reference to you fyi)

 

 

 

Can you prove what you have said below?

 

have seen enough of the world, and count ang mos in europe and japanese in japan as friends from work

 

[RogerNg_185295]

Lol I don't think he needs to prove it bah, whats the big deal about "seeing the world" and knowing some Ang mo. Almost anyone from my company would traveled a fair bit many nationalities, some the countries we go to for business even requires the yellow vaccination card. I wonder how many people have this also.

 

We should debate based on logic and not said persons ego (not in reference to you fyi)

But he seems full of ego. Like he has wordly experience compared to normal people.

[Jamesc]

The only way I am going to retire before 60 is if a good looking young rich lady wants me as her toy boy and want to spend all her money on me.

 

I don't mind giving her my body in exchange.

 

Edited May 29, 2019 by Jamesc

[Jamesc]

Yep agreed Singapore is a pretty vulnerable lot in the region, don't say Singapore even my friends in Indonesia who manufacture garments is feeling huge pressure from China companies and this just reverberates thru various manufacturing concerns.

 

Even in banking its also tough tougher, if my previous firm didn't mandate a Singapore hire policy the entire firm would probably be taken over by foreigners.

Great insight.

 

Always like to read your very knowledgeable posts.