.... I finally woke up and realised how the protection part was rapidly eating into the remaining units of the Investment part and can seriously deplete the investment value over multiple bear markets. So I bite the bullet and terminated the ILP at loss.
Study the long-term financial planning model below.
Think very carefully how should we plan for our long-term needs for income, risk management (insurance coverage), and growth solutions during our different stages of working life and after our retirement.
Good model. This is definitely worth your time and effort to study it very carefully!
For Risk Management and Growth solution, once we made some very serious mistakes and locked in negative return; it is very difficult to recover without pumping even in more money.
Last updated : 14 Sep 2019
I am 63 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children.
Currently, two sons and one daughter are working.
I have been doing 20 years of long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that so-called Panda or Koala in the investment world.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
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