Ferrari Me (Ferrarilim)

 One wise shared that: At $3,300 pm per pax, it can be a comfortable income floor for a retiree couple. I wonder if $3,300 p.m. per pax really comfortable ? This $3,300 p.m. per pax will certainly not be even enough to cover Caregiver or Nursing home in 15-years' time for one, excluding inflation. NURSING HOME COST Current Nursing home cost is about $4k to $5k p.m. per pax. In 15~20 years' time, we will add to our children or society burden. WE WILL STILL NOT LAST SANDWICHED GENERATION  Sadly we can never be the last Sandwiched Generation ! ~~~~ Some takeaway: 1. Take good care of our health; physical & mental. 2.  Beef up on our children financial firepower to help  our "future dependency" on them. 3.  Bond & love our loved ones so that their Caregiving would be "sweeter". 4. Retirement expense is not just daily cost. Our most expensive cost maybe our Caregiving home cost from age 75 to 90; any shorter is a blessing. Our RA payout buffers $3k p.m.,

 There are eight health areas to be cared for: 1. Leg: Knee cap pain, bow legged 2. Hearing loss 3. Sights impairment 4. Mental capacity degradation 5. Hair loss/white 6. Dental health (Front teeth loss) 7. 3 fiends (cholesterol, diabetes, High BP) 8. Better your body age ~~~~~ There are eight wealth areas to build up: 1. Max up CPF-Life lifetime payout 2. Fully paid Home  3. Passive Income 4. Annuities 5. Critical Illness Insurance protection 6. Hospital & Surgical (H&S) protection 7. Children & your retirement Plan B 8. Pure Gold ~~~~ There are eight retirement pastimes to build up Blue-Zone lifestyle: 1. Frequent walks 2. Community community care and eat together 3. Traditions n Religion; faith n hope 4. Right Tribe with healthy habits and behaviors. 5. Regular plant based diet; beans, nuts, veg to improve body immunity 6. Emotional health. At peace, contentment. Something to live for. 7. Stay active; do some gardening 8. Volunteering services

 1.  Current BASIC PLAN payout at age 65 My current RA Balance is $371k as at Feb 2024. [Projected Payout at age 65, for ERS Basic Plan: $2,180 p.m.] 2. NEW ERS BASIC PLAN PAYOUT (if cash topup with $117k in 2025) In 2025, with added RA whole year interest and cash topup permitted at $117k, my new RA Balance would slightly exceed $500k. [New Payout at age 65, for ERS BASIC Plan: $2,920 p.m.). (4 more years runway to age 65). 3. Calculator error beyond $500k But don't trust the CPFLife Estimator for $500k RA Balance at delay payout to age 70. Salivating if new payout is $3,890 p.m. !! (I might have to input as one year younger to calculate Delayed Payout at age 70). ~~~ 4. So far, I have topup RA (at ERS) with: Age 55: $88k (in 2019) Age 56: $7.5k (in 2020) Age 57: $7.5k (in 2021) Age 58: $10.5k (in 2022) Age 59: $10.5k (in 2023) Age 60: $10.5k (in 2024) Total: $134,500 (excluding additional annual MA cash topup to its yearly BHS). Wow a lot of forced saved money. It can be hear

CPF SA Removal at age 55 news (16th Feb 2024) The Friday announcement of new CPF changes of CPF-SA removal from/at age 55 and its balance is transferred to OA must have caused a stir in the big chat. Those who did their SA hack might be lamenting and even angry with the new SA removal news. Actually the total interest lost may be $50k ? It should not derail one's retirement plan.   On the contrary, the increased RA ERS topup in 2025 would benefit more people.   If I were to topup this $117k next year and subsequent delta topup to its annual ERA, it will add about $3,000 - $2,200 p.m. or $800 p.m. lifetime. This is actually good news for budding retirees... 6 years to age 65. One lesson :  Not easy to outsmart our G. Even if one manages to, just whisper. "makan quietly". Just like the "1-99" loophole in home ownership to skirt around paying ABSD for 2nd pte pty, "makan quietly".

Compare XIRR & CAGR Definition: XIRR takes into account the exact timing and amount of each cash flow, making it a more accurate representation of the true returns of a SIP. CAGR , on the other hand, assumes a constant rate of return over the entire investment period, which may not accurately reflect the returns of a SIP. The CAGR measures the return on an investment over a certain period of time. The most important distinction is that the CAGR is straightforward enough that it can be calculated by hand. The main difference between them is that the CAGR is often presented using only the beginning and ending values, whereas the annualized total return is typically calculated using the returns from several years. ~~~~ My dilemma Just sharing my dilemma over nibbling buy to build up layered endowments versus simply VHR (voluntary home refund) into CPF-OA. Each endowment return singly, or bundled collectively can/may give a XIRR higher than 3.5%.   However in my case, the bundles payo

This week see the passing of Banking Mogul Mr Wee. I try search for published wisdom words from him.  Managed to read this ST article of him by Goh Eng Yeow reporter. Veteran banker Wee Cho Yaw said that the late former deputy prime minister Goh Keng Swee once told him that it is better to be born lucky than to be smart. It is a sentiment most of us would share with Dr Goh; having luck on our side can help us breeze through life. ~~~~ About Luck : To get lucky, think positive 1. Lucky people create avenue of more luck. Lucky people try hard to add variety to their lives - talking to different people, breaking routines and being open to new experiences. In doing so, they create more "chance opportunities" for themselves to get lucky. 2. Unlucky people miss chance opportunities because they are looking for something else. Lucky people see the chance opportunities and pursue them. 3. Count your blessings Lucky people have a positive attitude, and lead happier lives. 4. With luc