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  #1657 (permalink)  
Old 22-10-2013, 09:25 AM
Posts: n/a

Hi Mr Cabby, good that you are happy with your life. Happiness is priceless.

Some food for thought:

1. To remain happy, do not compare with others. There is always someone else (actually many) who will be richer than you..So best not to visit forums like this one.
2. Buying annuity may not be a wise move. Reasons being:
- payout is fixed (and currently it is quite low) and does not keep up with inflation
- Lump sum is tied up, and cannot withdraw for emergencies
- When you pass on, money not used is forfeited (make sure you buy one that gives the remaining sum back to your spouse or children, but dont think many have this feature)
- there are other avenues like stocks and shares that give much better returns for your money and you can sell some off if you need emergency funds.

Originally Posted by Unregistered View Post
55, owns a 5 room HDB flat, paid up, now worth $900k. Cash, CPF and other assets $600k. Drives a cab. Plans to sell the flat when I reach 60 and buy a studio flat for the elderly, costing $70k. Will then buy annuity for me and wife each with $1.5m. We will retire at 60. My flat is the best investment in my life as I bought it 25 years ago at a very low price. Thanks to our government and country's growth, our property value go up and can make taxi driver like me to retire at 60. Our flat is the best retirement asset, I am very happy with my wise investment to buy a 5 room flat. I am very smart to buy the flat, my friends that time told me to just buy a 3 room flat.
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