SINGAPORE - Eight in 10 Singaporeans are worried about growing old, a survey has found. Topping their worries is whether they can look after themselves when they are old. Financial worries of running out of savings is next, according to a survey released on Tuesday (Oct 18). Nearly 1,000 Singaporeans aged 30 to 75 were interviewed in the survey commissioned by insurance cooperative NTUC Income and philanthropic organisation Lien Foundation. CW8888 is quite right. Younger ones now, of course can sing song about selling their residential home as retirement fund. May be these folks haven't been talking to their parents or older relatives on feeling of their home of decades. The survey also found that nearly eight in 10 Singaporeans prefer to grow old in their homes, consistent with the government push to encourage Singaporeans to "age in place", or spend their twilight years in their homes. About half the respondents were willing to stay at a nursing home, but only two in five were willing to send a loved one there. The survey found that for those willing to stay in seniors' homes, an overwhelming nine in 10 prefer single or two bedded-rooms that currently do not qualify for government subsidies. "Aged care facility providers can take heed of the varying preferences shown by the different age groups," said Lien Foundation programme manager Gabriel Lim of the findings. NTUC Income also launch on Tuesday in conjunction with the survey findings release a new insurance plan that covers senior diseases like Parkinson's disease, dementia and Alzheimer's diseases. The new plan covers policyholders until age 100.
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 2041 @ 85 yrs old.
Disclaimer: Stock trading involves significant risks. Create Wealth trader is not a licensed Investment Adviser and will not be responsible for any losses which you incurred. You are advised to always do your own homework before making any trading decision.