Category Archives: Retirement Planning

Articles written on retirement planning.

First Withdrawal from SRS without Penalty

I went to a POSB branch yesterday (1 April) to make my first withdrawal from my SRS (Supplementary Retirement Scheme). Withdrawal from SRS can only be made at the branch. You cannot do it through e-banking if your SRS is … Continue reading

Posted in Retirement Planning

Investing for Income

The Sunday Times’ Business Correspondent Chong Koh Ping wrote about “How to Invest for Income” on 9 February 2020. It was an informative write-up. I have been shifting investments from equities to income generating assets/investments in recent years. This is … Continue reading

Posted in Retirement Planning

How much must I set aside now for next 23 years of retirement?

Assuming that I live till 85 years, how much must I set aside now to fund my current level of expenditure? This expenditure includes both family expenditures and my personal expenditures. I kept records of past four years of actual … Continue reading

Posted in Retirement Planning

Saving habits and delayed gratifications

Are you a saver or a spender? Do you spend lavishly on luxurious items, eat at expensive restaurants or go on expensive holiday destinations? Do you set some part of your salary or business profits into personal savings every month? … Continue reading

Posted in Retirement Planning

Thinking of terminating Whole Life insurance Policy

On 31 August 1995, I was committed to a whole-life insurance policy from Prudential Assurance called “PruLife with Profits”. This was 24 years ago. Sum assured is $50,000 Premium is paid annually at $1,560 Policy start date: 12 September 1995 … Continue reading

Posted in Financial Management, Retirement Planning

Living within your means

As I get older, I appreciate how my parents cope financially in their old age. They depended on their own savings and what we (as their children) gave them in the form of allowances and items they needed. We paid … Continue reading

Posted in Retirement Planning

About Death

Please skip this if one is uncomfortable reading about death. One read about sudden mass deaths as a result of an aircraft crash or a terrorist attack or an earthquake in recent times. Lives were lost for people who were … Continue reading

Posted in Retirement Planning

Cancelling DBS Esso MasterCard

I had the DBS Esso MasterCard for many years. I held it until DBS upgraded it to Platinum card at an annual fee of $36. Then I received a statement advising me that from 12 December 2018 the annual fee … Continue reading

Posted in Retirement Planning

Lasting Power of Attorney

The Lasting Power of Attorney (LPA) is my last major action I took as part of my retirement planning. This completes a series of actions I did for a peace of mind, as I get older. I had drawn up … Continue reading

Posted in Retirement Planning

Know who you have nominated as beneficiaries for life insurance policies

I had taken up four life insurance policies in 1980s and 1995. I did not remember whether I had nominated someone to be the beneficiary of each policy when I passed away. These policies were taken up more than 20/30 … Continue reading

Posted in Retirement Planning