Think Abt 'R'

I was reading a book on MRT, its was written in chinese, i only manage to complete 3 pages from Harbour Front MRT to Hougang MRT. Not because my chinese is really that poor, didnt fall asleep neither its beautiful babes around. Its the contents that make me took up my 'heavy duty nokia 7250' haha those who saw it should know why i quote it.

Inside is talking about some survey done in US on the retirement funds of 100 Americans. If you want to know the ratio just do a search on the web, i think you should be able to find those info easily.

The main dish is : retirement

With reference from - http://www.singapore-window.org/sw05/050225to.htm

Average retired Singaporean has among the lowest average monthly retirement income among the 15 countries, at $1692. Canada ranked first with $4216, with Hong Kong last at $1177.

This average monthly income is marginally above the average household expenditure of $1592.

The study, however, did not take into account factors such as different costs of living in these 15 countries.

1) When you plan to retire ? Let this age be 'A'
2) How much you want to have each month after the retirement ?Let this amount be 'B'
3) What's your current age ? Let this age be 'X'
4) Have you start saving for retirement ? How much you save for retirement annually ? Let this amount be 'Y'
5)If you want to relies on your children support and giving you an amount monthly. Let this amount be 'Z'

Eg A average guy whose age 24 now and wish to retire at a age of 50 with monthly retirement fund of 1692 ( varies if loans not yet complete, children eduation or debts). Lifespan to age 80

Working life = A - X = 50 - 24 = 26 years
Retirement period = Lifespan - A = 80 - 50 = 30 years
Total retirement fund needed to last 30 years = 30 years * B = (30 * 12 )1692 = 609,120
Total retirement fund needed to last 30 years ( if your children are supporting you) = 30 years * B = (30 * 12 )(1692 - Z) = G
Saving needed monthly during working life = 609120 / (26 * 12) = 1952.30/mth

Thus this guy need to save 1952.30 monthly to have that amount of retirement income.

So how much do you have for your retirement ?

Facts :
http://www.singapore-window.org/sw00/000525fe.htm

Even government leaders warn that Singaporeans will need to look beyond the fund to finance their retirement. "The CPF is not sufficient," National Development Minister Mah Bow Tan said in November.

The trade-off for Singaporeans is that they can use their CPF accounts for major expenses such as housing and medical treatment

A government-led committee on ageing noted last year that 24 percent of the CPF members who reached age 55 in 1998 had less than S$16,000 (US$9,250) in their CPF accounts--an amount that will run out quickly if the retirees lack family support.

http://www.ssa.gov/policy/docs/progdesc/intl_update/2005-05/2005-05.html

"Despite having one of the world's highest saving rates, many Singaporeans are expected to have insufficient savings in old age because of preretirement withdrawals for housing purchases, low returns on CPF account balances, and the tendency for many to stop working at relatively early ages.

For example, the 3 million members of the CPF have placed S$110 billion (US$67.2 billion) of their savings into property but only S$29 billion (US$17.7 billion) into investments and insurance. Worsening demographics are compounding the problem. It is estimated that by 2030 the number of persons aged 65 and older will increase fourfold, with no corresponding growth in the working-age population to support them."

You're Blessed

Do you complain ? Maybe about your workload, working relationship with colleague, your friend's action, your family, personal stuffs etc ?

"Indonesia races to cope with quake survivors as death toll passes 5,400 with roughly 200,000 homeless."

Some of the people in our neighbouring country are struggling with basic surival and we are complaining about minor things in life. So telling yourself that you are fortunate, will make ya feel blessed.

But some may say, hey look its a different environment we are in. Here we are struggling for 'basic surival' too, we need to constantly work hard to buy a proper shelter(for most people will be tie to a loan which last for 20-30 years) and bread for our family. As we all know the 5 子 - 老子(parents)，妻子(spouse)， 屋子(house)， 孩子(children)， 车子(car)。 Have you ever sit down and think about the 5 items mentioned?

1) How old are your parents now ? How many years they can still work ? Are you going to take care of them?

2) Are you going to marry ? Are you guys going to have a memorable ROM & wedding celebration ? Plan to stay with family ? Both party working ? What are the family commitments for both parties ?

3) Getting a house ? What type you actually wanted or what can you afford after weighting all the factors? Loans and interest involve ? Have you find out how much you need per month just for house loan? Info : CPF could help

4) Plan to have kids ? Have you calculated the medical/education cost ? How many you plan to have? Whose going to take care and nurture them ?

5) Reason for getting a mode of transport ? Its a 10-15 years loan again for most people. Have you weight the pros and cons ? Down-payment, monthly payment, tax, petrol, insurance, parking, do work out your monthly finanical statment(highly recommend for everyone to have one, have you say something like that lifestyle or object only for the rich, where all my money gone?)

So find yourself maybe an hour to think about the above. If it helps you in anyway, do drop me a note =D

Cheers!!

Raining - 5 words

5 words when it rain - WET, cold, sleepy, bed, heater

its was raining and i had to go to yio chu kang and meet my uncle for driving lesson #2. 30 minutes before the lesson, uncle called and asked if i wanted to postone the lesson - telling me that i might get WET, 2 thoughts swipe through my mind instantly. 1) He's really so considerate 2) its raining, cooling weather makes most of us lazy and wanna just sit back in a cozy spot and have some hot drinks. What say you?

Before you could think of the answer, action time is running out. 20 minutes and i m at yio chu kang and started off my warm up Standard Driving Procedure. Practise going forward and backup. Maybe the warm up isn't that intensive, still feeling cold while practising, time for some hot drinks ? hot chocolate or herbal chicken soup wooooo **drool.......Did a couple of stuff today left reverse bend, right turn, change gear 2, U-turn and a little short drive along the yio chu kang gardens road. Saw so many fellow "L" ard the area lol. But i was driving real slow man(15km/hr), think a 8 years old kid riding skate skooter could easily outrun me. As the old sayings goes, slow and steady win the race. I just wanna pass the Traffic police test who care abt the race.

Took 72 back, pretty dead journey, no interesting news on mobile tv, no babes, blur vision outside the window due to the rain. Sleepy and lovely bed at home is calling BUT hey where's the heater!!!

PS: check sg weather before you plan for outdoor event : http://www.channelnewsasia.com/cna/weather/index.htm

Choosing A or B

Went to meet shirlyn sis last nite ard 10 plus. Wanted to pass her the birthday gift at park view square. Normally you need to sign in to their guest book before permitted to the office in the buildings. The security guard wasn't there thus i thought i could skip the trouble of writing BUT with the security guard, the lift wont work ARGHHhh. Waited outside the lobby for sis. I was drinking the cup of Mac donald coke and my precious IBM laptop fell off from a ledge(FIRST TIME) . I was OMG !@# before i could finish the rest, i felt rain droplets...... someone putting a durability test for lapbie ?

I bought 2 pairs of earrings for sister and ask her to choose either A or B. She choose A thus i gave her the black pearl with butterfly earring. I wanted to gave her the other pink earring which is represent by B before i left but she decline - saying 1 will do just fine. Then she was telling me that just now when she did her pick she didnt complete her sentences, most guys will prefer A ......................BUT i like B. So what's your choice ? She also added "It's pink..." so i guess she actually prefer the pink earring. haha tat will be the wedding gift for her liao.


Had a short conversation with her and found out that she gonna ROM and host wedding dinner together on same day 15 July 2006. And she spend 7000RM abt 2500++ SGD on her photos shoot(Garden theme: golf course, bath tub, swimming pool comes with 15R photos X 90)...WAH right. My cousin Qiqi also having her ROM on 7 July 2006, should be quite busy during the first 2 weeks of july for me.

Glass, nutz, bean

There was a professor whose suppose to give the class a lesson on life.
Given a glass cup, chest nutz and green beans

Professor filled up the glass with nutz and ask the student if he's able to input the beans.
On second scenerio, professor filled up the glass with beans first and ask the student if he's able to input the nutz.

Professor then ask the students what can you guys related the actions to life ?
Lots of interesting answer pop up but none of them match professor thoughts.

Just before the lesson end, professor explained:
There are lots of things that happen in life, if you are dwelling in tiny little stuffs there wont be space for major stuffs in your life. Thus set your major things/objectives you want in life and let the beans flow pass.