Ferrari Me (Ferrarilim)

 Good read.   From US article, Retiring in your 60s is becoming an impossible goal. Is 75 the new 65? Few keys points extracted: 1. People are living longer, and daily life is getting more expensive. It may be time to rethink the timeline for leaving the workforce. 2. Americans become eligible to receive their full Social Security benefits at age 67, roughly the same age that UK citizens can claim their universal State Pensions. 3. Government stipends weren't designed to support people their in 80s and 90s, 4. US workers believe the "magic number" for retirement savings is nearly $1.3m (£1.03m) – wealth that most people cannot accumulate by their 60s. ~~~ My takeaway: 1. We SG are blessed. Thanks to SG, we have CPFLife which payouts (though mainly fixed monthly), augmented by our CPF OA interest payout to support our retirement expenses. 2. Most household in SG should have accumulated at least S$1M in CPF. The affluent couples are even typically looking at S$3M in thei

Chat with someone who has bought AIG endowment which pays $2.4k p.m. from age 65 to 84.   It also protects him with Crisis Coverage of $2.4k p.m. upto age 65. On his one policy that gives monthly income of $2.4k p.m. and CI protection till age 65, good planning for a 40yo which he recently bought it in 2023. However, my opinion only: 1. After 1 Jul 2021, the insurer BI illustrated return stated @4.25% par fund performance is not so attractive. 2. AIG payout will likely be reduced for such long 25-year runway to 65yo.  (My opinion only hoh. I no insurance agent.) He lol that he can claim nearing age 65 to enjoy another 20-year CI of $2.4k p.m. (touch-wood hoh, told him). CI = Critical Illness ~~~ I told that he will face dilemma of his CI expired at age 65; just like me. I shared that my Wholelife CI will or has expired at age 60 & 63. Both, I have terminated as no point paying $3k p.a. my wholelife to cover $250k Death & TPD. ( Long story short, the insurer who does not follo