Tag: Careshield Life

Even if You Have CPF Life at 65, You May Need an Additional $215K to Retire.

How much you need at 65 to retire depends on many factors and is different for everyone. A good starting point in Singapore is to look at someone at 65 who will be receiving CPF Life Full Retirement Scheme payout of about $1350 per month. Working on the assumption that you have your HDB unit paid off and are not carrying any debt, do not own a car, in good health and does not have any significant balances in other CPF accounts – how much do you need to set aside to retire reasonable comfortably in Singapore? Let’s make the assumption that you will need enough money to take you to 90 years-old or 25-years past your retirement at 65. Statistically, you may live longer than that, and that is why we also factored in a contingency or emergency fund as well.

Continue reading “Even if You Have CPF Life at 65, You May Need an Additional $215K to Retire.”
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In 2021, Seniors should upgrade Eldershield to Careshield Life – here is why.

There are three legs of healthcare insurance that seniors should pay attention to. The first is acute care insurance – Medishield Life – that helps you with serious condition and treatment that normally require hospitalisation. Medisave and other government subsidies are intended to cover primary care that includes anything from cough and cold to management of chronic conditions like diabetes. The third leg is long term care for when you are severely disabled and need long term help for day-to-day living — this is where the current Eldershield 400 and the yet to be launched Careshield Life will be something you want to have.

Continue reading “In 2021, Seniors should upgrade Eldershield to Careshield Life – here is why.”

Merdeka Generation Package: S$8 Billion well spent to help seniors born in the 50’s

Like the Pioneer Generation Package, I believe the Merdeka Generation Pack(MGP) is money well spent. When the Merdeka Generation citizens were in their working years, wages and salaries were significantly lower then. Education and other opportunities were considerably less than what our current generation has. For them, there was little opportunity to save enough for retirement especially with healthcare costs increasing at an alarming rate. Add this to greater longevity, it is clear that the Merdeka Generation’s savings for their retirement will fall short of what is needed.

Continue reading “Merdeka Generation Package: S$8 Billion well spent to help seniors born in the 50’s”