The email address in "Contact AK: Ads and more" above will vanish from November 2018. No new email address will be provided. Contact me using Facebook. - AK

Longevity should be a blessing and not a curse.

"One in two Singaporeans aged 65 today is expected to live beyond 85, and one in three will live beyond 90. "Tripartite Workgro...

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"E-book" by AK

Second "e-book".

Another free "e-book".

4th free "e-book".

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ASSI's Guest bloggers

When to get a private annuity?

Thursday, September 14, 2017

Been reading your blog for a while now and wanted to ask you what do you think of XXXXXXXXXXX as a retirement plan.

My financial consultant suggested this (product) to me recently but I wanted to get a second opinion on this.

Could you talk to yourself about this please?

As a retirement plan, there is nothing out there that can beat the returns offered by CPF Life.

Unless I have maxed out my CPF account, I would not consider putting money in a private plan.

I have done a case study of a private plan before and how it could not beat CPF Life. 

You might want to use this as reference when looking at the product offered to you:

In summary, max out your CPF account first (i.e. top up your CPF-SA to hit prevailing FRS) or if you are above 55, think about maxing out your CPF-RA.

Only then, think of possibly getting a private plan to supplement CPF Life.

Related posts:
1. 4 ways to beef up CPF savings.

2. CPF savings 10 years from now.


Laurence said...

As AK always says: "Nobody cares more about our money than we do. Don't ask barbers if we need a haircut."

AK, think you need to put this famous couplet in extra big bold fonts on top of your blog heading. Lol.

AK71 said...

Hi Laurence,

Couplet? Maybe for Chinese New Year. ;p

Laurence said...

Just saw an annuity plan elaborated in the Dollars And Sense website. Look at the humongous returns:

AK71 said...

Hi Laurence,

That is probably an advertisement for OCBC.

Some blogs are actually sponsored but not all of them will state the fact clearly.

We have to be careful and watch out.

No one cares more about our money than we do. ;)

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