Net Worth and Cash Flow? Rich Assets and Good Assets? Big Fat Purse and Small Thin Wallet? Single and Married with kid(s)? Our parents are asset or liabilities Not same hor! Net Worth and Cash Flow : The difference is in its details Government has provided nice incentives for us to plan for our own retirement planning. But when is the right time to take full financial benefits of it? This is not an easy decision to make especially so for younger couple with younger dependents. Why? Not so easy to understand!. The decision making and thought process of committing this non reverse will require more than reading to fully understand whether this smart financial advice is really for us! When comes to difficult financial situation and tricky financial equation; as parents, our parental love will put our children future and well being ways ahead of our own retirement. We will do whatever within our means to support them especially on health and education matters! That is why we will continue to see some parents selling their assets to send their children to overseas university when their children cannot secure their choice of study in our local university! Parents selling down whatever they have so they can raise medical fund to send their sick child for better medical treatment. Parental love! How many singles out there understand this tricky financial equation as parents? Health, Wealth, Retirement Planning and Contingency Plan How often when we have comprehensive insurance coverage we like to think that we are adequately covered for liquidity needs? No! No! No! When we are hit by critical medical condition; not all critical medical condition will lead to fast death and fast insurance claims to provide liquidity needs for our dependents over near term needs. This is when our retirement planning will transform to contingency plan looking for cash and Cash is King! Should we rethink about mainstream's smart financial advice? For those younger couples who have younger dependents; are your retirement plan also include some elements to revert to contingency plan when your life crisis strike upon you. Uncle8888 has been there before. When such thing happened; he didn't console himself how sound or solid was his retirement planning. How fat are his CPF accounts? It was all about where is the cash? That is contingency plan as claims from insurance or CPF is far out of sight yet! Sometime a living body doesn't worth much to a dead body! Since the body is not dead; the living body will continue to consume scare resources at the worst time of our life. Sad but true!
Last updated : 14 Sep 2020
I am 64 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 21 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.
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