Retirement Plan

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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 Hanging Socks Out To Dry? Thursday, August 24, 2017 Labels: Money, Retirement, Retirement Plan, Savings Posted by Welcome, at 12:03 PM https://enterarena.blogspot.sg/2017/08/hanging-socks-out-to-dry.html 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 . . News or Ad? http://www.channelnewsasia.com/news/brandstudio/manulife/i-want-to-start-a-family-does-having-children-change-my-8790924 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. Read more at http://www.channelnewsasia.com/news/brandstudio/manulife/i-want-to-start-a-family-does-having-children-change-my-8790924 . .

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Poem ~ If Tomorrow Starts Without Me

Nice Poem

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If Tomorrow Starts Without Me

~ author believed to be David M Romano

If tomorrow starts without me,

And I'm not there to see,

If the sun should rise and find your eyes

all filled with tears for me,

I wish so much you wouldn't cry

The way you did today,

While thinking of the many things,

We didn't get to say.

I know how much you love me,

As much as I love you,

and each time that you think of me,

I know you'll miss me too.

But if tomorrow starts without me,

Please try to understand,

That an angel came and called my name,

And took me by the hand,

and said my place was ready,

In heaven far above,

And that I'd have to leave behind

All those I dearly love.

But as I turned to walk away,

A tear fell from my eye

For all my life, I'd always thought,

I didn't want to die.

I had so much to live for,

So much left yet to do,

It seemed almost impossible,

That I was leaving you.

I thought of all the yesterdays

The good ones and the bad,

I thought of all the love we shared,

and all the fun we had

If I could re-live yesterday

Just even for a while,

I'd say good-bye and kiss you

And maybe see you smile.

But then I fully realized,

That this could never be,

For emptiness and memories,

would take the place of me.

And when I thought of worldly things,

I might miss come tomorrow,

I thought of you, and when I did,

My heart was filled with sorrow.

But when I walked through heaven's gates,

I felt so much at home

When God looked down and smiled at me,

From His great golden throne.

He said, "This is eternity,

And all I've promised you."

Today your life on earth is past,

But here life starts anew

I promise no tomorrow,

But today will always last,

And since each day's the same way

There's no longing for the past.

You have been so faithful,

So trusting and so true.

Though there were times

You did some things

You knew you shouldn't do.

But you have been forgiven

And now at last you're free.

So won't you come and take my hand

And share my life with me?

So if tomorrow starts without me,

Don't think we're far apart,

For every time you think of me,

I'm right here, in your heart.

Source Link:

http://www.poeticexpressions.co.uk/POEMS/Iftomorrowstartswithoutme.htm

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When Tomorrow Starts Without Me performed by Stephen Meara-Blount

https://www.youtube.com/watch?v=hoPaHxUWA5o

"If Tomorrow Starts Without Me" attributed to David Romano (read by Tom O'Bedlam)

https://www.youtube.com/watch?v=iMMjAbH_W8c

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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...

• 1 ~ 'Screencast-O-Matic' ~ http://www.screencast-o-matic.com/

• 2 ~ 'MAKE-A-GIF' ~ http://makeagif.com/

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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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:  http://www.channelnewsasia.com/news/singapore/most-elderly-singaporeans/1415888.html http://www.channelnewsasia.com/image/1407042/1412905123000/large16x9/768/432/elderly-couple.jpg 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: http://www.channelnewsasia.com/news/singapore/majority-of-elderly/1415998.html http://www.channelnewsasia.com/image/635074/1410245288000/large16x9/768/432/stock-elderly-03.jpg 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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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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. http://www.channelnewsasia.com/news/singapore/widow-wants-to-revoke/1376816.html 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 http://singaporeseen.stomp.com.sg/singaporeseen/sites/default/files/public/article/images/gallery/2014/09/20140905_ChungKhinChun_ST.jpg 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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