Eight out of twelve young Singaporeans have yet to plan for their golden years.
A reader asked on Facebook what was the point of the blog which I posted last evening?
Alamak. AK is a mental blogger lah.
Most of the time, he is just talking nonsense. Crazy fellow.
I like to think that everyone's life can be better and it should be better if we have been prudent with money and if we have not been too unlucky in life.
I also like to get things I need and want for free. If I can get someone else to pay for things I need or want in life (legally and ethically), I would.
Regular readers might remember that I said I invested in QAF because I want free bread. Old Chang Kee? I want free curry puffs.
So, what about investing in NTUC Income for income? I want to have some life insurance coverage for free.
Of course, don't take what I say literally but you get the idea.
Related post:
Dividend for FY 2016 and for life.
hi AK
ReplyDeleteyour video re : financial abuse from own family brought to mind a totally different experience that happened to my elderly mum who is 86 this year.
Last year my mum came to know of this company that offers 6% interest for her money. My mum who wanted higher interest on her money parted $20000 to earn that 6% and she will receive progressive return of her loan within three years till aug 2018.
Although my whole family tell her this is an unsecured loan and the company may fold and her money gone, she went ahead to invest without our knowledge.
Nine months ago, she had a fall and although she is on Pioneer Generation Scheme she spent close to $9k and suddenly it occured to me and her should she passes on, her loan will literately be gone since there is no co-sign (remember she did so without our knowledge)
I used to scold my relative who doesnt give money to their parents, now I understand why they dont. After the fall, I have taken control over her money to make sure she doesnt get involve with unsecured loans again .. Old folks who are illiterate and foolhardy with their money, how else to help them? cheers
Hi Ruby,
ReplyDeleteWell, to be fair, there are old folks who are financially very savvy. ;)
Of course, everyone is different. We have to decide what is the best course of action for ourselves and hope that we are right. :)
Oh, for an unsecured loan, paying 6% interest a year, I believe the company got a good deal borrowing from your mom. Too little for too much risk.
See:
ReplyDeleteTo make 20% per annum, we could lose our capital.