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Showing posts with label Retirement. Show all posts
Showing posts with label Retirement. Show all posts

Thursday, August 24, 2017

Retirement Plan

---------- Forwarded message ----------
Date: Thu, Aug 24, 2017 at 12:06 PM
Subject: I was attracted to this GIF of 'Hanging Socks Out To Dry?'.

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My Blog Entry
Thursday, August 24, 2017
Posted by at 12:03 PM

I was attracted to this GIF of 'Hanging Socks Out To Dry'.

Reminded me of...
Don't wash your linen in public.
Do not wash your linen in public.

And yes, I am not going to 'wash your linen in public' as it is neither 'yours' or 'mine' and this has nothing to do with dirty 'linen'. It's about somebody else's retirement plans that I feel is not exactly for me, but it does help in the planning. Every one of you will have your own idea oh how you want to plan your retirement. There is no right or wrong because all plans have their risks and this plan below is just as risky although more on the safe side. But not planning is the worst thing that you can do. Please have some form of planning & it's good if husbands and wives can agree on some form of plan.

Hanging Socks Out To Dry?
https://cdn.brand-display.com/content-studio/data/NaN/images/medium/2e5a3f7d403ea57fa8ea42fade53fcc1.gif
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News or Ad?

I want to start a family. Does having 
children change my retirement plan?


Congratulations! And the short answer is yes.

Text by Mark Tay

Speak with a professional financial planner from Manulife Singapore to find out about ideal plans for you and your family.

So you and your partner have been thinking about having kids for a while, but you aren’t entirely sure how plans change once you have an addition to the family. Well, the good news is that you’re not alone. It’s pretty tough to plan every detail of the life journey with a child involved because there are many things to consider ( like if you might want to give them the best shot at possibly pursuing their passions in an extra-curricular activity ). That said, here are four non-negotiable changes in you and your partner’s lives that you’ll need to consider.

1. RETIREMENT AGE
You need to be clear that having a child means supporting them till they are old enough to start working and earning their own keep. In the context of Singapore, that will be when they are about 25 years of age. Knowing this, you’ll need to be realistic about the age you actually can stop working, which may end up being a little later than you initially planned. For example, if you have a child when you’re 35, you’ll probably need to keep earning money till you’re 60).

If you start planning early (like now), there are financial and insurance instruments available that may help you build up your wealth, but you have to be aware that there are risks involved. That way you might still be able to kick back and relax at a slightly earlier age, if you so choose.

2. FAMILY INCOME
You’ve probably already had this conversation with your partner because whether one of you is planning to stop working and take care of the child makes a big difference to how much the family will be able to spend and save. However, plans sometimes do change so both you and your partner should still work towards building up a contingency fund of about six to 12 months of your combined income. This will ensure there’s a sufficient buffer in case one of you decides to stop working for a period of time after your child is born.

3. EDUCATION
It’s important to remember that when you’re planning for your child’s education, you’ll need to carefully take into account prevailing inflation rates in Singapore. This is because a large amount of your child’s education fund will be spent on his or her university studies (which will be around 18 years away) so the number you’ll be faced with might be significantly different from the one you just Googled the other day. If you’re looking to enroll your child in private institutions, even higher costs will be incurred.

But because you’re thinking about it now, you have the opportunity to plan the right steps on just how to build that education fund. Check out this handy Education Calculator to get a better sense the amount you’ll need.

4. ASSURANCE FOR THE FUTURE
You obviously want the best for your kid (which is why you’ve read up to this point), so consider whole life insurance policies. These insure your children for their entire lives (once the required premiums are paid) and also some come with annual cash returns (until the policy is terminated). In essence, if you’re able to afford the premiums for such a policy, it can give your child yearly returns all the way through to their retirement. However, as always, a conversation with a professional financial planner regarding this, as well as the other points above, will definitely help shed some light on what is the ideal plan for you and your family.

For more ways to get you even more ready for your life ahead, visit www.manulife.com.sg or click here for more stories and infographics from the series.

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Wednesday, November 19, 2014

POSB ~ Retirement Plan 2014

I've just spent some time doing this Blog for various reasons.

I like mathematics:
~ if a day of savings cost $10 a day, then
~ a year would cost $3,650 ( = 365 x 10).
~ and to add $10 every 4 years during the Leap Year

I like savings:
I have always liked the idea of savings and retirement have always been something I have been planning, which began way, way back even while I was as a child.

I like GIF Animations:
I just happen to like animation so I'm dabbling with creation of GIF files. 
There are 2 Websites that I use to help me do these. They are...
Scroll down to see my GIF making adventure.

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3rd and Final attempt using 'Screencast-O-Matic'

This is a bigger image. Done so that the 'Screencast-O-Matic' stamp will appear smaller when i shrink the whole image. Click on image to enlarge.


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2nd attempt using 'Screencast-O-Matic'

Found that I could actually start the animation with a button at the bottom left corner of the image. I realize that the 'Screencast-O-Matic' stamp was too big.


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1st attempt using 'Screencast-O-Matic'

Had to start the Flash animation using the right mouse click. You can see the mouse at the almost top right hand corner of this GIF animation.



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 Created using 'MAKE-A-GIF'


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STILLs to help create the above at 'MAKE-A-GIF'












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Thursday, October 16, 2014

Retirement News

In the news, today and yesterday... on the Elderly. 
Good to know... and plan... the earlier... the better.

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This story was printed from channelnewsasia.com
TITLE: 
Most elderly Singaporeans have 
‘positive outlook’ on ageing
By Imelda Saad, POSTED: 15 Oct 2014, 14:00 hrs
URL: 

A report by the Institute of Policy Studies found that 80 per cent of respondents said they felt confident their needs will be taken care of as they grow older.

SINGAPORE: Most elderly Singaporeans have a positive outlook about the prospect of growing old in Singapore, according to a report released on Wednesday (Oct 15) by the Institute of Policy Studies (IPS).

The majority of respondents – about 80 per cent – said they felt confident their needs will be taken care of as they age. About 70 per cent said they look forward to each new day and feel there is meaning in their life, while 60 per cent said they look back on their lives with a sense of happiness.

Still, there are concerns. Only 37 per cent of respondents agreed with the statement that "in general, most elderly Singaporeans have little to worry about", and 46 per cent rated their financial adequacy as average or poor.

According to the report, quality of life starts dropping from the age of 65 – far earlier than a study done in the United Kingdom, where quality of life starts declining from the age of 75.

Researchers said that could be because in Singapore, life often revolves around work. Retirement could thus lead to a sense of loss, and this could be an issue as the population ages and shrinks, and the elderly can no longer rely on the extended family for support.

This is were community connections come in, said IPS Senior Research Fellow Mathew Mathews. "The aspirations of the elderly include being socially connected. They realise it would give them some kind of meaning. But of course, if we think about the current social connectedness, a lot of it revolves around the family. There is considerably less social connectedness with the community, and I think that is a very important aspect of people being able to age well, age in place and their ability to feel there is a community around them, not just the family," he said. 

For the elderly who do not have children, "that will also impinge on their level of family connectedness", he pointed out. "Having people build strong connections with their community, with friends would be important, and those kinds of meaningful connections can't wait until retirement. It will have to start earlier. 

"People have to take to the idea of having some kind of work-life balance, because if all their life revolves around work and the rest of the little time that they have is back with family, there is little time to cultivate leisure or learning or some kind of involvement in the community. When that happens in the later years, it will be very difficult for them to restart and build that kind of connection."

The majority of respondents said their social networks and activities revolved around family, with nearly 90 per cent saying they have get-togethers with their family at least once a month. Less than 10 per cent engaged in social activities through attending a course, participating in grassroots or community activities or using a senior activity centre, within a month.

CHANGING DEMOGRAPHICS

The report’s researchers said that with changing demographics, the elderly of the future will be better educated and financially more prepared for retirement.

The challenge is to actively engage older Singaporeans in the community, they said, recommending that there be more options for the elderly to volunteer their time and expertise as well as more community-based activities.

With the growing number of singles and childless couples, the researchers also said the traditional expectation that the needs of the elderly can be taken care of by their families has to be debunked. Instead, there needs to be sufficient infrastructure for ageing in place and community social support for those who grow old in the absence of extended family support.

The study, commissioned by the Council for Third Age, which promotes active ageing here, covered more than 2,000 people between the ages of 50 and 74 years. The report is jointly authored by IPS Senior Research Fellow Mathew Mathews and NUS sociology professor Paulin Tay Straughan.

Responding to queries from Channel NewsAsia, Council for Third Age CEO Soh Swee Ping said creating an age-friendly environment and society for seniors takes more than the right infrastructure. "Many parties need to play their part, from Government agencies, social organisations, grassroots, community and commercial organisations. Not forgetting the individual's effort as well, all these need to work in tandem for our society to become a place for successful ageing."

She added: "We are glad that most seniors viewed ageing positively, and felt confident that their needs would be taken care of as they age, though they still have apprehension concerning the general seniors' population. In the past, ageing has always been addressed in a negative light, and inadvertently instills fear and the feeling of being a burden. However, the conversation on ageing has begun moving towards a more positive one, associating it with opportunities and societal contribution. We can expect that the new cohort of seniors will embrace ageing quite differently. They will be more knowledgeable on how to equip themselves to age successfully." 


- CNA/cy/xy
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This story was printed from channelnewsasia.com
TITLE: 
Majority of elderly Singaporeans hope to 
continue working after retirement: IPS report
By Imelda Saad, POSTED: 15 Oct 2014 14:00 hrs
URL:

About 90 per cent of respondents to a survey said working after retirement is a good way to stay financially independent, stay connected with society and offers the elderly a sense of self-worth.

SINGAPORE: Most elderly people in Singapore are keen to continue working after retirement, according to an Institute of Policy Studies (IPS) report on a survey commissioned by the Council for Third Age. It covered more than 2,000 people between the ages of 50 and 74.

The survey, released on Wednesday (Oct 15), found that 90 per cent of respondents felt that working after retirement is a good way to stay financially independent, stay connected with society and offers the elderly a sense of self-worth.

But while the outlook on working after retirement was positive, it was a different story when it came to actually being in a job.

Only 53 per cent of respondents said there were sufficient job opportunities for seniors in the current job market. Nearly half (48 per cent) said there were no suitable jobs that could match their qualifications and experience.

The survey noted an overwhelming perception - more than 60 per cent of respondents - that potential employers prefer to hire younger workers. About a third also said they felt their lack of job hunting skills was a barrier to continued employment. 

'COMPLEX' ISSUE OF EMPLOYABILITY 

The issue of employability is a complex one for seniors, the report’s researchers said. “Increasing optimism for employability has to involve both greater buy-in from employers and also more realistic expectations by seniors about work and the need for retraining,” the report said. “Redesigning work to make it more manageable and flexible is a step in the right direction since it allows seniors to participate in the workforce, though hopefully at a pace they are comfortable with."

IPS' senior research fellow, Dr Mathew Mathews, elaborated: "It is kind of complicated. On the one hand, it is about new ways of doing work, redesigning work, such that you are able to not demand the same kind of hours and allow a certain amount of flexibility. Because we do recognise that people at the older stage may not want to work the same kind of level, they want to pursue other activities as well. So some redesign of work would be very crucial."

Employers must also be able to see that older workers can make valuable contributions, noted Dr Mathews. "There is always that perception that jobs which are meant for seniors are fairly menial - these are not the kind of jobs which can tap on to the pre-existing skills that seniors have. Seniors have a lot of experience and jobs need to take that into consideration."

Deputy CEO of the Employment & Employability Institute (e2i) Ms Ang Li May said that when the institute works with employers, it tells them to look at mature workers as people with years of experience who can contribute to the organisation.  

She added: "Internally, we also work with training providers to design programmes to guide HR and line managers on how to recruit based on competencies. So from that aspect, when employers are aware of how they can recruit based on competencies and when we refer people who are competent to the employers, hopefully there will be a job match."

LIFELONG LEARNING

The study found that most of the seniors in Singapore have a positive attitude towards lifelong learning. Nearly 90 per cent said it helps them to stay relevant, while more than 60 per cent said it can help them improve their skills to get ahead in their careers.

However, only 58 per cent of respondents had knowledge of Continuing Education and Training courses offered in places accessible to them, and just 17 per cent had enquired about a course that could help them stay employed.

Respondents also said they preferred a less formal classroom setting for learning. With the seniors’ different learning needs and varied preferences for learning, the report’s researchers recommended options such as informal classrooms and courses guided by seniors.

Dr Mathews said: "The issue is if I go for lifelong learning and it does not translate to a job, then what is the point? But if people can begin to see that lifelong learning is valuable in itself, you grow as a person, there is information and skills you develop.

"That itself is very meaningful, the social connections you can make in that process. If more are able to see that, then the interest in being part of lifelong learning will increase."

TEACHING SENIORS

Training providers said teaching seniors is a totally different ball game. Their needs are different from younger learners. Some require basic coaching in the area of resume writing and interviewing skills. Courses also need to be re-designed to include less formal classroom settings, and more hands-on learning, or even seniors teaching other seniors.

"Mature workers with deep passion and convictions gravitate to what they feel deeply about, associate with peers they can identify with and feel validated and affirmed when they are part of the teaching as much as being a learner themselves," said Mr David Kwee, CEO of Training Vision Institute, which conducts courses for adult learners. 

He added: "Setting up a structure, a process, a set of activities to enable them to learn, to share and to co-create value through learning for living - this makes them and the world they live in a richer, better and more meaningful place."


- CNA/cy/xy
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Wednesday, September 24, 2014

Life's Experiencences

People do get tricked in life.
We do need to be on our guard,
for ourselves, 
and for others as well.
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SINGAPORE
Widow wants to revoke Lasting Power of Attorney she granted Yang Yin: Lawyers
By Eileen Poh
POSTED: 23 Sep 2014 21:41
UPDATED: 23 Sep 2014 23:46

Madam Chung Khin Chun's niece, Madam Hedy Mok, and their lawyers gave this update to reporters on Tuesday (Sep 23). 

SINGAPORE: Madam Chung Khin Chun, the elderly widow whose S$40 million assets are at the heart of an ongoing legal tussle, has applied to the Office of Public Guardian to revoke the Lasting Power of Attorney she granted to Chinese national Yang Yin in 2012.

According to Madam Chung's lawyer, the 87-year-old has been medically certified to be mentally capable of doing so. Madam Chung's niece, Madam Hedy Mok, and their lawyers gave this update to reporters on Tuesday (Sep 23).

Yang, 40, is a former tour guide who met Madam Chung in 2008 when she was on holiday in Beijing. He and his family later moved into her bungalow in Gerald Crescent, off Yio Chu Kang road

The Lasting Power of Attorney (LPA) allows another person to act on one's behalf, in the event he loses his mental capacity, in areas such as financial matters. Madam Chung's lawyer Mr Eugene Thuraisingam said he has met Madam Chung and "received instructions" this afternoon to revoke the LPA.

Mdm Mok's lawyer Peter Dorisamy also said a suit has been filed against Yang for allegedly abusing his powers under the LPA. "He has breached his powers and therefore, certain losses have risen from, we say, those actions and we are recovering loss and damages," said Mr Dorisamy.

At the centre of the saga is the S$30 million bungalow owned by Madam Chung. Madam Mok said the house is now occupied only by the maid, as Madam Chung is currently living with Madam Mok.

Madam Chung was described by Madam Mok as being "very well now". Madam Mok is also applying to the court to be appointed as deputy to Madam Chung, which will give her control over Madam Chung's assets.

Madam Mok said if appointed, she will deal with the assets according to her aunt's original wishes and that is to donate to charity

Police confirmed on Sep 17 that 40-year-old Yang has been arrested for suspected criminal breach of trust. The Singapore Chinese Chamber of Commerce & Industry had earlier lodged a police report against him for misrepresenting himself as the association's director.

- CNA/xy
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http://singaporeseen.stomp.com.sg/singaporeseen/this-urban-jungle/tour-guide-from-china-moves-into-sporean-widows-bungalow-and-allegedly-took-over

China tour guide moves into S'porean widow's bungalow 
-- and allegedly took over her $40 million assets
Posted on 06 September 2014

Mr Yang Yin is flanked by Madam Chung Khin Chun (left) and 
Madam Chang Phie Chin in a photo taken in Beijing on Oct 23, 2008.
-- PHOTO: THE STRAITS TIMES

A 40-year-old tour guide from China got close to a Singaporean widow and, in 2009, moved into her Gerald Crescent bungalow, allegedly taking over her assets worth $40 million and bringing his family to live with him there.

However, on Tuesday (Sep 2), a seven-hour stand-off between the 87-year-old Singaporean widow and a 34-year-old woman from China, the tour guide's wife, ensued.

It ended after the younger woman agreed to leave the widow's $30 million bungalow, where she had stayed for a year without rent.

It was the latest twist in a saga that began in 2008, after the widow, retired physiotherapist Chung Khin Chun, met the Chinese woman's tour guide husband while on holiday in China.

Before she met a 40-year-old tour guide from China, Madam Chung Khin Chun threw lavish parties, had a large art collection and several employees loyal to her, reports The Straits Times.

But after the tour guide moved into Madam Chung's $30 million Gerald Crescent bungalow, he prevented her from seeing her close friends, sold her jewellery and art, emptied her bank accounts and even sacked her long-time maid and driver.

These are the claims against Mr Yang Yin, who has not given his side of the story, in a court case.

Madam Chung's niece, Madam Hedy Mok, 60, has applied to lift the Lasting Power of Attorney which has given Mr Yang control over her 87-year-old aunt's assets, alleging that he had taken advantage of a vulnerable woman who was this year diagnosed with dementia.

The application includes a lengthy affidavit by Madam Chang Phie Chin, 84. In or around 2004, Madam Chang was asked to move in with Madam Chung and her husband, Dr Chou Sip King.

Dr Chou, a wheelchair user who died in 2007, had wanted Madam Chang to take care of his wife.

In 2008, Madam Chang introduced Mr Yang to Madam Chung during a holiday to China. She had first met him in Shanghai in 2005. "I looked up the defendant to act as our tour guide since I already knew him," Madam Chang said in her affidavit.

Mr Yang kept in touch with Madam Chung and, over time, got her to remit between $4,000 and $40,000 to him.

In 2009, he moved in to live with her. Madam Chang, who has known Madam Chung for more than 50 years, said Mr Yang "manipulated" and "took advantage" of her friend's feelings.

"He would frequently make physical advances towards (Madam Chung), shamelessly hugging and kissing her in front of myself and the maids and driver," related Madam Chang.

"He would have his meals with (Madam Chung), uttering sweet nothings to her." Mr Yang "acted as if he owned the house, bossing the maids and driver around rudely", Madam Chang said in the affidavit, adding that he eventually "ordered" certain people, including neighbours, not to visit Madam Chung.

He terminated the services of the widow's driver in September 2009, saying the man had attacked him. In 2012, one of Madam Chung's maids also had her employment terminated by Mr Yang.

She had told Madam Chang that her employer had to ask her for money to buy food as she was afraid to ask Mr Yang, the affidavit said.

Madam Chang, who moved out in 2011 because of Mr Yang's behaviour, accused him of selling off her friend's art collection, and spending the money on his frequent overseas trips, where he supposedly stayed at luxury hotels.

In her affidavit, Madam Mok also stated that she understands Mr Yang had taken people to view the $30 million bungalow.
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Tuesday, September 02, 2014

55 not age to withdraw CPF funds

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http://www.straitstimes.com/news/singapore/more-singapore-stories/story/longer-lifespans-mean-55-not-age-withdraw-cpf-funds-mean
http://www.straitstimes.com/sites/straitstimes.com/files/20140901/AL-cpf-0109e.jpg

The Straits Times
www.straitstimes.com

Longer lifespans mean 55 not age to withdraw CPF funds meant for old age: PM Lee

By Tham Yuen-C
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SINGAPORE - With longer lifespans, 55 is no longer the right age for CPF members to make sizeable withdrawals from their retirement funds, Prime Minister Lee Hsien Loong said on a Mandarin radio programme on Capital 95.8 on Monday night.

He encouraged CPF members to work until age 65 if they can, saying they can take out some of their CPF funds after they retire to pursue their dreams or invest.


Mr Lee made these remarks as he sought to explain why withdrawing all or a sizeable amount of CPF savings at age 55 is not prudent.


He noted that when the CPF withdrawal age of 55 was set more than 50 years ago, Singaporeans' life expectancy was around 63 years old. But with life expectancy up, and many people here living past 80 and even 90, CPF members should not aim to make withdrawals at age 55, he said.


Mr Lee was referring to CPF members who want to withdraw part of their Minimum Sum when they turn 55. Those who have more than Minimum Sum can withdraw the excess when they turn 55.


Mr Lee said that since CPF savings are meant for use during retirement, depleting the account too early would leave people with not enough in their old age.


"The CPF scheme should provide some flexibility, and we are providing it by letting people take out some money when they retire. But I feel you should try not to dip into your CPF savings if you can help it, and depend on your other savings first. Because CPF is meant to provide security during retirement."


During the one-hour programme, PM Lee also engaged in a wide-ranging discussion about topics ranging from the Lease Buyback scheme to immigration and the recent push to provide more opportunities for those who are not degree holders.


Copyright © 2014 Singapore Press Holdings. All rights reserved.

With longer lifespans, 55 is no longer the right age for CPF members to make sizeable withdrawals from their retirement funds, Prime Minister Lee Hsien Loong said on a Mandarin radio programme on Capital 95.8 on Monday night.
-- PHOTO: ST FILE

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Thursday, October 31, 2013

Map of Philippines with Manila, Cavite & Bicol

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---------- Forwarded message ----------
Date: Thu, Oct 31, 2013 at 11:37 AM
Subject: Map of Philippines with Manila, Cavite & Bicol

Map of Philippines with Manila, Cavite & Bicol

When I found the Map, 
I came across this info about retiring in Philippines, 
just something to think about.

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Update: 2013 Nov 14

I read the the news that said that 'Typhoon Haiyan' will hit 'Makati' but now the news reads that it hit 'Tacloban, Palo' instead. Click HERE to read all about it.

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Makati

From Wikipedia, the free encyclopedia
http://en.wikipedia.org/wiki/Makati
http://upload.wikimedia.org/wikipedia/commons/f/fe/Ph_locator_ncr_makati.png



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Wednesday, July 31, 2013

Money - Your last power in old age!

Someone just sent me this via email.

When we "retire", it is good to keep this in mind.
I do know of those who have made this mistake.

Something to think about.

---------- Forwarded message ----------
Date: Wed, Jul 31, 2013 at 3:01 PM
Subject: Money - Your last power in old age!
To: 

Good advice!

Money - Your last power at old age

When parents give away their money too early.....
A thought to ponder for the seniors !
WHEN PARENTS GIVE THEIR MONEY TOO EARLY . . .
(Phil. Star Article by: Letty Jacinto-Lopez )

At their 54th anniversary, my friends made a decision to distribute their
combined assets among their living heirs. Their rationale, Para walang gulo.
(To avoid trouble). They added one proviso: While still alive, income
from these properties will be used to maintain our present lifestyle
inclusive of medical expenses, extravagant trips and unlimited shopping.

That's easy, replied the heirs. The income was substantial to indulge the
old folks with a bonus that the heirs can use in any manner they wanted.

The first year passed without a hitch, but soon the problem surfaced. Each
child used all kinds of tactics to keep the money from his parents. It
reached a point where the poor retirees had to beg for sustenancerobbing
them of the dignity 
they worked hard to uphold.

What went wrong?

Bad decision, said a cautious friend who warned the couple of this scenario.
Children are so unreliable when it comes to inherited money. Money
received, which was not expected and not a direct result of something they
worked for, is not given the same value as money earned with their own
sweat and tears. They lose their sense of propriety; gratitude is tainted
by greed and decency gone. This is compounded by in-laws who can tilt or
convince their respective spouses to throw out good sense and filial
affection like soiled rugs, Honey, they're going to die anyway, so why
waste good money on them?

To avoid falling into this vulnerable, pitiful state,
keep these 10 tips in mind:

How to stay 'safe' at old age:  

1.   Do not retire. If you're over-aged, retire and get all the benefits but find another income-generating job or open a business that will keep you active physically and mentally. Travel and bond with true friends, play a sport, learn a new hobby and volunteer in your community or parish. Don't loaf around. Your spouse will hate you because you've become a sloppy, listless bum with nothing good to say about the household and things that you never bothered about before. Solve crossword puzzles, play Scrabble, write your memoirs, and above all, read ...this will keep you alert and keep Alzheimer's at bay.

2. Live in your own place to enjoy independence, privacy and a solo life.If you move in with your children, your rank or degree of importance is reduced to that of a bed spacer who has no place of honor or, worse, like crumbling furniture merely displayed with no added value. Might you kowtow to conform to their own rules that are not kind, considerate or mindful of you? If you witness your children engaged in a war of will and wits with your grandchildren, whom will you side with? Will they even appreciate your arbitration? Remind your children that silence is not a sign of weakness; you are merely processing data that is taking longer to complete.

3. Hold on to your nest egg, bank deposits and assets. If you want to help your children, do give, but not to the extent that you wipe out your life's earnings, singing heroically not a shirt on my back nor a penny to my name.
Staying solvent and in the black is a good hedge against all kinds of tempests. You will sleep better, you will not be afraid to express your opinion and you will be confident about yourself.

4. Don't believe your children's promise to care for you when you grow old, priorities change. Many children are not guilt-ridden or filled with a sense of moral obligation when the wife and offspring take top billing in their lives. There are still children who would consider it a privilege to show compassion, genuine love and deep concern for their parents but be warned that not all children think alike.

5. Expand your circle of friends to include young ones who will definitely outlive your old BFFs. Keep up with new inventions, trends, music and lifestyle including all the scams and schemes you should guard against.
Remember that when you mix with the young, you also open a fresh avenue to channel your thoughts, experiences and values through so that the lessons you learned are not lost, forgotten or buried with you.

6. Be well groomed and smelling fresh of spring water all the time. There's nothing more depressing than seeing people exhale when you walk by because you reek of baul (camphor chest) or lupa (dirt). Old age or bust, don't look and smell like a corpse when you're not one yet.

7. Do not meddle in the life of your children. If they ask for your counsel, give it, but be ready to accept that they may not take it. Their situations in life cannot be compared to the situations that you experienced in your life. The playing field has changed and they need to develop their own set of survival skills. If you raised them to be street smart, they can handle themselves in tough situations and be able to read people. Champion and encourage their dreams and desires but on their own terms.

8. Do not use old age as your shield and justification for turning grumpy. There's nothing more annoying than an arrogant, old fool. Welcome each day as another chance to be kind and forgiving, to yourself and to others.

9. Listen to what others may say. Do not throw your weight around just because you are a septuagenarian or a nonagenarian. You are not a depository of knowledge. Even if the roles have been reversed, make growing old a fun-filled, pleasant experience for you and your brood.

10. Pray always and focus on your eternal life. You will definitely leave everything behind, a final journey detached from burden and care. Be more accepting that, sooner, not later, you will croak. Prepare your swan song with a humble and contrite heart. If you believe in a merciful and loving God, there is no need to strut like a star. Nobody is.
 
 
     Money - Your last power in old age !

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