Wednesday, 15 June 2011
Read? What is good Financial Planning?
Uncle8888 has been following the current hot debate on financial/retirement planning arising from this news article
SINGAPORE - New financial advisory firm MoneyOwl, as its name suggests, wants to help Singaporeans make wise financial decisions that include integrating schemes such as the Central Provident Fund (CPF).
Hmm .. so Uncle8888 has made wise financial decisions with his
Three Taps Solution model for sustainable retirement income for life! LOL!
The Golden Formula for a good financial planning
Good Financial Planning = Saving + Insurance + Investment
Tap 1 : Savings in CPF OA & Cash
Tap 2 : Self-insured medical and health care fund on top of Medishield Life. ( His last life insurance matured at age of 60 as planned donkey years ago in his 30s to retire from full-time employment latest by 60. Since he is no longer human asset generating income after 60 so there is no need to cover human liability with life insurance after 60)
Tap 3 : Investment
Read? Three Little Pigs Net Worth - Assets & Wolf