I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

Click to email CW8888 or Email ID : jacobng1@gmail.com

Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

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Saturday 11 March 2017

Financial Independence : Withdrawal??? Passive Income > Living Expenses??? (Good time to refresh before my talk)

Read? Financial Independence : Withdrawal??? Passive Income > Living Expenses???

True Story! Damn Good Advice!

Reply #4 on Nov 15, 2015 at 9:33am me200, candy188, and 1 more like this

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Post by oldman on Nov 15, 2015 at 9:33am

As I am now a consumer of healthcare insurance, what I am learning about insurance companies scares me even more. I was in hospital for a few weeks in Oct and chalked up a bill of well over $100,000, which I had to pay out of my own pocket first. I blamed the hospital for being too kiasu by getting money from me first

Then, a letter from the insurance company arrived and stating that they will not be paying anything until my oncologist replies to their list of questions. The insurance company tells that this process can easily take another 10 weeks! I then called my oncologist who kindly filled up the list of questionaire and sent it back to the insurance company. Let me see whether the insurance company finds other ways of dragging its feet. 

Of course no one wants to stay in hospital for a few weeks unless he is very sick! Glad to say, I am now on the road to recovery ... but have still to sort out these insurance issues which I previously thought will be transparent to me. How wrong I was! 

For those with private health insurance cover, be aware.... your policy may require you to have a few hundred thousand dollars sitting idle in the bank..... yes, this is not mentioned even in the fine print and certainly will not be mentioned by your insurance agent!

At best, if you have private healthcare insurance and intend to make use of the private hospitals or approved clinics, you should view your insurance plan as a reimbursement plan.... you have to pay upfront first and your insurance company hopefully will pay you back ( yes, there will be clauses in your insurance plan to allow them the flexibility of reviewing all charges before paying you back). Payback time is also up to the insurance company. 


  1. CW,

    This is probably why some who have paid Integrated Plans decide to downgrade from Private to Public hospitals, and public A class to B class?

  2. The reimbursements will come eventually. Just use credit card to accumulate rebates/points first.

    Shield plan to cover A Ward and Private Hospital + Cash Rider to pay up to the first cent of the bills is still the best health protection plan.

    1. Walau. $100k bill can use credit card.

    2. Can, unless your are super high networth client.

      How many has this credit limit? Few only.

  3. Uncle CW,

    Wah, got this kind of case. Thanks for the heads-up

  4. the ministry which oversees health matters, be it treatment in private or govt hospital, shld be aware of the health insurance plan one is with, to avoid paying first then seek reimbursement
    It is not easy to cough up a few hundred k ...

    1. Before any major treatment there is counselling session on expected cost. So some know themselves will down grade.

  5. jia you on the upcoming talk!!! :d


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