CJH Financial Planning

Hi all, how's it going? I came across this from the Straits Times Forum: ------ ST Forum HOME  >  ST FORUM  > ONLINE STORY Jan 30, 2010 Housing prices: Worry over impact  on retirement savings WITH prices of new three- and four-room flats reaching between $250,000 and $330,000 in some areas, I wonder how much a buyer will have in his CPF retirement account after paying for the flat in 20 to 30 years. I took a loan of $80,000 some 20 years back and the interest came up to $70,000  when I had finished paying for my flat. The Government should look into this or Singapore may end up with many  retirees with little in their CPF account, assuming an average household income of $3,000 to $4,000. Since HDB flat buyers may use 30 per cent of household income, they may be able to service their loans, but little is left for retirement. Besides, along the way, husband or wife may lose their jobs. Buyers are allowed to take up to a 30-year loan. By then, their e

Part 3 of the 3-S is Security, or your safety net in times of misfortunes. Most people insure their homes, cars, businesses and other assets, but fail to realise the importance of insuring the greatest asset of all - themselves. Insurance is a vital component of wealth building. Without adequate insurance, our hard-earned savings or assets will go down the drain should we be struck with a life threatening illness, permanent disability or premature death. When we start work, we have a potential to earn a large sum of money. For most, it will be more than a million dollars (SGD). However, all these are just 'potential' earnings and have not materialized yet. An illness or disability could easily wipe out these potential earnings as our capacity to work will be affected. It is important to seek a qualified insurance consultant to work out what is the adequate level of insurance cover you need. Your consultant should be able to project your family's expenses throughout