Why Singaporeans Like To Delay In Planning For Their Retirement…

Fri, Oct 31, 2008


I did a lot of roadshows.

You may find me a very FAMILIAR face in Toa Payoh MRT, in East Point, in front of Civic Centre…. everywhere….all over Singapore. ๐Ÿ™‚

…and in meeting Singaporeans…Yes! real people like you and me….I discover something disturbing…

Many people failed to plan for their retirement….and here are their excuses comments.

1) “My money in my CPF is already a lot, enough to fund for my retirement needs”.

My reply: Most of your money in CPF has been used to pay for your house. You need to start saving now.

2) “My retirement days still FAR AWAY. I need to use my money now to buy CAR, HOUSE….. I will do it when I am older”

My reply:The opportunity cost of procrastination is huge. You can start something small, and gradually increase it. You need to start saving now

3) ” How do I plan for my retirement? No one has helped me before in this.”

My reply:Call Helmi Hakim at +65 96520134. He will help you plan for your retirement.You need to start saving now.

4) “I got too much financial commitments. Need to take care of my parents, children, pay off mortgage loans etc”

My reply:Create your own personal cashflow statement and try to reduce your variable outflow. You need to start saving now.

5) “When I retire, I will downgrade my house to a less expensive one and the profit, I will use it for my retirement”.

My reply: This method may inject uncertainty into the process because the property market can be volatile and if you were to retire at a time when the value of your real property crashes, your main source of retirement nest egg would be SEVERELY AFFECTED.

Furthermore, a decision to downgrade may not be an easy one to make on an emotional and psychological level as you may be so used to a certain standard of living that you will find it difficult to downgrade when the time comes for you to do so.

Therefore you need to start saving now.


AHA…Now, we have been talking about retirement planning. Have you start planning for your retirement? ๐Ÿ™‚


p.s. By the way, if you wish to discoverย a simple & halal way to create a positive monthly cashflow and calculate your net worth for FREE,ย then please click hereโ€ฆ

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This post was written by:

- who has written 439 posts on The Official Helmi Hakim Website.

A certified financial consultant, Helmi Hakim has won praise for his patience, perseverance and practicality when solving his clients' financial concerns. For more information on how you can manage your finances better, contact Helmi Hakim at 96520134.

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