Education plays a huge role in an individual’s life whichever path she/ he may take. From 7 years old up until your early 20s, going to school is a way for you to learn, make friends and understand the true meaning of responsibility. Therefore, it is important to set a plan for your child’s education. […]
SG Investor Hub Blog
Are you happy with your salary in Singapore? Rhetorical question, I know… But if you are happy with what you’re making, you might want to close this tab because you’re…
The post Highest Paying Jobs in Singapore (2018) – 38 Jobs With Monthly Salary Over $10K appeared first on MoneySmart.sg.
Genting Singapore Ltd (SGX: G13) is one of the companies that is giving out dividends this week.
This article looks at the quality of Raffles Medical Group Ltd’s (SGX: BSL) business from the perspective of return on invested capital.
Government policies can have major impacts on companies – these 4 may benefit from National Day Rally 2018
The post National Day Rally 2018: Here Are 4 Potential Winners In The Stock Market appeared first on DollarsAndSense.sg.
Dear readers, Hong Leong Finance is having a high fixed deposit rates promotion. Read more »
Sometimes when you give your children your all (leaving barely anything for yourself), this act of love may end up becoming their biggest burden later on in life.
I absolutely loved this heartwarming ad by NTUC Income which recently went viral over the weekend. Not only could I relate to it, I also agreed fervently with the key message of the video that perhaps the best gift parents can give to their children is a good retirement plan for themselves (be it through savings, insurance, annuities, or any other means).
In the video, the groom laments about how his parents (seemed like) the “worst parents in the world” when they didn’t send him for the piano lessons or overseas trips that his friends were going on.
He then goes on to acknowledge that had his parents given him everything he wanted back then, he wouldn’t have everything he had now.
By juggling between spending money on him and saving up for their retirement, his parents’ foresight and planning now allowed him and his bride to focus on the steps they wish to take in their new life together.
This ad really struck a chord with me because I’ve been feeling the burden of being my parents’ retirement fund ever since I started working, as I’ve detailed here in my previous article.
The other thing I’ve realised while growing up is that what I used to want as a child…may not necessarily been what I really needed. Like the lead in the video, I longed for piano lessons (and ballet!) when I was younger, but my mom whisked me off to enrichment classes instead. I complained when my friends got to go on annual holidays whereas my family didn’t (the furthest we’d been was to Malaysia!), but now looking back, I really didn’t need them as much as I thought I did back then.
I used to think my parents were also “bad” parents, but now that I’m older (and a little wiser), I realise they brought me up pretty decently after all. Through their own ways of parenting (which admittedly wasn’t as “lavish” or “pampered” as many of my classmates), they enabled me to learn about thrift, hard work, independence, grit, and many more.
But one thing that differs in the video from my situation? My parents didn’t properly plan for their retirement. Neither did my in-laws. And as such, this is where our stress of having to divide our dual income among five dependents (or perhaps six, as we’re hoping to have a second kid in a few years time).
If you fail to plan for your own retirement, you’re putting the burden onto your children in the future, and that limits their life choices.
I quote from another reader who shared with me her story:
As someone whose parents weren’t financially savvy enough and didn’t plan for their own retirement, I’m under tremendous stress today, and I most certainly don’t want my child to have to go through the same in the future. That’s why my husband and I are working towards financial independence, so we don’t have to rely on our child(ren) as our retirement plan and support in the future. That way, they’ll be free to pursue their own life choices.
Want to start your own business but ain’t so sure if you’ll succeed? Go ahead and try; don’t worry about having to find a job that pays you a regular salary because we’re fine and can fend for ourselves.
Want to go abroad to pursue bigger career opportunities? Go ahead, but just remember to Skype us regularly.
So please, get insured and make sure you save up for your own retirement.
Do it for your children, if not for yourself.
FTSE ST Real Estate Investment Trusts (FTSE ST REIT Index) increased slightly from 802.53 to 808.04(+0.69%) as compared to last post on Singapore REIT Fundamental Comparison Table on Aug 6, 2018. The REIT index continues to trade within a tight range between 800 and 820. 820 is the 200D SMA resistance whereas 800 is the neckline support of the … Read moreSingapore REIT Fundamental Analysis Comparison Table – 2 Sept 2018
TTI is back after a 1 month hiatus. I’ve been ticking off life goals… in an earlier post, (It’s somewhere around here. Lazy to go dig through and link it to this.) a reader commented that I should visit Mont Saint Michel in France over the famed Meteora in Greece… and since he’s actually visited […]
America has threatened to slap tariffs on $200 of Chinese imports, China has PMI numbers and inflation data, and the Malaysia’s central has an interes-rate decision.