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Retirement Planning Help To Take Account Of What You Own

financial planning for retirement

Photo taken in May 2011, Russia, Moscow, Fountain – Friendship of Nations

Many Singaporeans do not take account of what they own and continue to save aggressively for their retirement and spend little. They are also constantly worried that they will not have enough money to retire.

I met this client Aged 57, single, in one of my Retirement Seminars in 2016. She is so worried when she met me during the seminar. She told me – Jonathan I only have $300,000 in my CPF and $200,000 in my savings. So how am I going to retire?

I told her not to worry, I need her to bring me all her investments, insurance and bank statements to me when we meet. After I consolidate her assets, I told her that besides the $300,000 in CPF, the $200,000 cash in her savings, she also has about $600,000 in insurance endowment policies which will mature progressively from now till Age 65.

She also has FD of about $150,000 and some structure deposits of $200,000. Thus, her total asset she has presently is about $1.5 million.

Yes, a lot of Singaporeans do not take account of what they have, they just invest and forget. Just like olden days, our grandparents will keep their moneys under the pillow, under the cupboard or under the kitchen sink.

Retirement Planning allows us to help our clients to consolidate and take account of all their assets and in the process, it also allows us to plan ahead on where to allocate all these assets when they become available to create Perpetual Retirement Income for all our clients.

I have since constructed her Retirement Plan which allows her to retire at Age 63, with a Yearly Retirement Income of about $36,000. From Age 65, she will receive about $65,000/year and by Age 68, she will receive a total of $75,000/year of Retirement Income perpetually.

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Address :
Phillip Wealth Advisory
230 Victoria Street  #04-01
Bugis Junction Tower
Singapore 188024

Contact :
Jonathan Chan : 90-1000-90
Personal Secretary : 84-168-168  (Wan Cheng)

Email :
JC@Advisor4U.com.sg
WanCheng@Advisor4U.com.sg

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