The Grading for his competency in Personal Finance. It should be Well Done!
He fully understands what is the purpose of Life Insurance when he was in his late 20s, married and progressively more children with more life insurance policies to protect his dependents. Life insurance is to cover Human Asset and protect our dependents. When Human Asset is ZERO and with no more dependents to protect; to continue to cover zero value human asset with life insurance is redundant. Unless one is planning it as Funeral gifts!
By the time we retire and never build up our own retirement fund to include self-insured after 60s; we can't grant ourselves a Pass on personal finance. More? Insurance
I am 60+ yrs old uncle living in HDB heartland who has retired @ 60 on 30 Sep 2016.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 and now becoming full-time retail investor. So I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I have two sons and one daughter; two working adult children and the youngest son is currently in his 1st year SUTD.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2038
Last updated: 16 Oct 2016
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