We will know we have arrived at high level of competency on personal finance and investmentwhen we are able to build up our own self-insured fund in addition to our existing medical insurance coverage to replace those expensive premiums in our 60s and above. Once above 60; the premium is just too costly to transfer those risks to insurance companies. So, can we underwrite those risks on our own terms since many of us are aiming to be competent retail investors? Can right?
Younger ones while you work on your investment portfolio to reach your Financial Independence stage; you may want to think about self-insured funding in your 60s too. Read? Articles Relating To Insurance
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.
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.