"Don't sacrifice your own retirement and financial health!"

I produced a YouTube video recently on how much money do seniors need in Singapore monthly to cover basic needs.

The video got many comments and some of them were pretty shocking when it comes to providing financial support for parents.

I am archiving some of these in my blog as a reminder to myself that not everybody thinks like me and how things might be very different now.

@deschua76 said,

30 years ago when I was still a kid, I told my parents that I won’t give them a single cent when they retired and because of that the fear drove them to become financially free now! 

That should be the way! Do or die! No excuses!!!! my parents constantly thank me for what I did. For your information and dissemination please.. #ToughLove 

And someone agreed with this comment. 

 @user-pi6mn9wj8n said, 

This is what ALL children should tell their parents. Why shld children hv to pay parents who hv no responsibility to take care their own financial health. 

The young hv it far harder than their parents did - with things like student debt and much higher housing costs. 

It is PARENTS that should be helping children at this juncture. DONT sacrifice your own retirement and financial health because u hv deadbeat parents who want/need handouts. 

To this, AK said, 

"Like that, children become forever liabilities.😱 Better don't have children."

In case you are interested in that YouTube video and the comments it generated, here is the link:

How much money do seniors need in Singapore in 2023?

Gurmit Singh's song is in my head now. 

"Things different already."

4.08% FD replaced by 4.07% T-bill! Huat ah!

The latest 6 months T-bill gives us a cut-off yield of 4.07% p.a.

Yes, AK stunned like vegetable!

I was expecting 3.75% p.a. thereabouts!

Pleasantly surprised!

The narrative that interest rates will stay higher for longer might be true, after all.

Don't know how much longer this situation is going to last but I will just make hay while the Sun shines.

To be sure, I am also doing this while waiting for Mr. Market to go into a depression.

It is bound to happen.

So, it is not going to be if Mr. Market goes into a depression but when Mr. Market goes into a depression.

I want to be prepared when that happens.

It could happen next year or the year after that or it could happen before this year ends.

There are so many different opinions from so many experts that I have decided to stop listening a long time ago.

All I know is that if I am prepared, I will do OK.

With my OCBC fixed deposits which paid 4.08% p.a. maturing this month and next month, I am rolling most of the funds into new fixed deposits with with CIMB.

Not as high as 4.08% p.a. but higher than the 2.7% p.a. offered by OCBC.

I am using a portion of the funds to strengthen my T-bill ladder too which will pay me every 2 weeks.

Fortunately, I did that for the recent T-bill auction too.

My non-competitve bids were fully allotted!

4.07% p.a.

AK is giddy with joy!

Always ready, surely, it is good to be paid while I wait.

If AK can do it, so can you!