Showing posts with label Age. Show all posts
Showing posts with label Age. Show all posts

Saturday, January 27, 2018

Healthcare on seniors a ‘big item’ in Budget: Indranee

By Toh Yong Chuan, Senior Correspondent, The New Paper, 26 January 2018 at 06:00 am
 

Senior Minister of State for Finance and Law Indranee Rajah (centre) doing the line dance with seniors at AWWA Dementia Day Care Centre.
PHOTO: Senior Minister of State for Finance and Law Indranee Rajah (centre) doing the line dance with seniors at AWWA Dementia Day Care Centre. She says resources for senior programmes can also come from charities and companies.
TNP Photo: Jonathan Choo
Picture posted by Toh Yong Chuan, Senior Correspondent, The New Paper on 26 January 2018 at 06:00 am
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg83dvB6mEEx22tzEdazuNTvxx_qdSCXawlgB00BOldokkk9c5y5VrJGU4s_sBiZfjYgoatEUWRFyLgOyT4fzeKmsKuARAZS7LmfU7neNZobTtcqycMWUoGuqxDxUD9m8SojLhOFDsBE3k/s1600/NP_20180126_YCSENIOR26-FHF_1699001.jpg
http://www.tnp.sg/sites/default/files/styles/large/public/articles/2018/01/26/NP_20180126_YCSENIOR26-FHF_1699001.jpg?itok=fYmSddjh
http://www.tnp.sg/news/singapore/healthcare-seniors-big-item-budget-indranee


Resources need not come just from Govt: Indranee

Spending on services for seniors will be a "big item" in the upcoming Budget, said Senior Minister of State for Finance Indranee Rajah yesterday when she underlined the growing challenge of addressing the needs of Singapore's rapidly ageing population.

She did not elaborate on the extent of the increase but noted that "in the years ahead, healthcare is going to be an even bigger part of our Budget expenditure".

Her comments, made at a seniors event, comes four days after Finance Minister Heng Swee Keat indicated at a conference on ageing to expect measures that will better support seniors in the national Budget.

The impending boost will build on earlier initiatives like the Pioneer Generation Package, which subsidises healthcare costs for seniors born in 1949 and earlier.

But resources for senior programmes need not just come from the Government, Ms Indranee said, adding that voluntary welfare organisations, charities, companies and individuals can provide them too.

GROW
Singapore has about 500,000 people aged 65 and older. This is expected to grow to around 900,000 by 2030.

Healthcare needs are among the leading concerns of most of them.

As the rise in healthcare expenditure is inevitable, Ms Indranee, who is also Senior Minister of State for Law, said "we have to see how we can fund it in a sustainable way".

"We do have to look at the question of raising taxes," she said, but was quick to add that the Government is not relying on just increasing taxes to cover the higher expenditure.

"One of the most important things is the economy," said Ms Indranee, stressing that the Government will pay "a lot more attention" to finding ways to increase growth.

She joins several government leaders who have hinted, since a year ago, of an impending tax hike to provide more resources for social spending.

Mr Heng said in Budget 2017 that healthcare and infrastructure spending will rise rapidly, and a time would come when new taxes or higher tax rates will have to be introduced.

In Budget 2017, $10 billion were allocated for healthcare expenditure and the amount is expected to go up to at least $13 billion by 2020.

Last November, Prime Minister Lee Hsien Loong said "raising taxes is not a matter of whether, but a matter of when".

Yesterday, Ms Indranee again assured Singaporeans that individuals will be given enough time to plan their finances, businesses will get time to study the impact on them and the needy will get relief.


The Singapore Women’s Weekly honours Singapore’s outstanding women achievers at Great Women of Our Time 2014
PHOTO: The Singapore Women’s Weekly honours Singapore’s outstanding women achievers at Great Women of Our Time 2014
Picture posted by Tara Barker, Editor-In-Chief, The Singapore Women's Weekly on 14 November 2014
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWyRWsDlawWAKge1FvchpUyFida66FcUe2wb2CBHL1yPRIfUgb35FIYJA014E6ncAiGATZOu7VQk6_gfTGHU0Ts8OTcxph-3IdxcSL7Qsg2t_35KQedGXZauvOSGWBCY9sWBuwClmBIzI/s1600/GWOT2014_1.jpg
http://www.sphmagazines.com.sg/wp-content/uploads/2014/11/GWOT2014_1.jpg
http://www.sphmagazines.com.sg/blog/events/sww/2014/the-singapore-womens-weekly-honours-singapores-outstanding-women-achievers-at-great-women-of-our-time-2014-2

By Toh Yong Chuan, Senior Correspondent, The New Paper, 26 January 2018 at 06:00 am
Get The New Paper on your phone with the free TNP app. Download from the Apple App Store or Google Play Store now



Reference
[1] Toh Yong Chuan, Senior Correspondent, The New Paper, Healthcare on seniors a ‘big item’ in Budget: Indranee, posted on 26 January 2018 at 06:00 am, http://www.tnp.sg/news/singapore/healthcare-seniors-big-item-budget-indranee
 

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Wednesday, October 28, 2015

Employers 'lack sense of urgency hiring older people'

Source Website: http://business.asiaone.com/news/employers-lack-sense-urgency-hiring-older-people
By Olivia Ho, oliviaho@sph.com.sg, The Straits Times, Tuesday, 27 October 2015, 5:00 am SGT


Employers 'lack sense of urgency hiring older people'
PHOTO: Employers 'lack sense of urgency hiring older people'
Complaints about workplace ageism may be falling, but employers still lack a sense of urgency when it comes to hiring older workers.
This is according to the Tripartite Alliance for Fair and Progressive Employment Practices (Tafep), which tackles discrimination among employers.
Photo: The Business Times
Posted by Business, Singapore
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEje3yW3qroHus7YDLVgzo3oy5SK9Zz5pi-TF75zwmnJ1km7qjmeyTSAmORAOp6ZQxWFshrFwY7p5Hk4WyHJXgAQH0rQipaOilQo-6RDEFV4ypGjPImjcIKWOwC0UoTscuqZWxRBKme9v-c/s1600/20151027_850_elderly_bt.jpg
http://news.asiaone.com/sites/default/files/styles/w848/public/original_images/Oct2015/20151027_850_elderly_bt.jpg?itok=tBOqVIao
http://news.asiaone.com/news/business/employers-lack-sense-urgency-hiring-older-people


Complaints about workplace ageism may be falling, but employers still lack a sense of urgency when it comes to hiring older workers.

This is according to the Tripartite Alliance for Fair and Progressive Employment Practices (Tafep), which tackles discrimination among employers.

Its general manager, Mrs Roslyn Ten, said that although age-related complaints fell by about 39 per cent between 2013 and last year, the need to change mindsets remains.


Mrs Roslyn Ten.
PHOTO: Mrs Roslyn Ten.
The reality is that we know the workforce is ageing, but there is just no urgency among a number of employers here . . . .
By Olivia Ho, oliviaho@sph.com.sg, The Straits Times, Tuesday, 27 October 2015, 5:00 am SGT
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-xfCJThQ7JK9thR1D8i75JmJ46m4NHT_PwvldII_tGU0CPHYqBzdmZ4msBlVyjfKUaicq2y1kpkEMJ89F7r0NYTYQjNHpcE0W6mVxzj3KVvHj0DAMKWO2lpcRuHpVhsEonuV_Txr_0hk/s1600/ST_20151027_OHTAFEP_1790825.jpg
http://www.straitstimes.com/sites/default/files/styles/large/public/articles/2015/10/27/ST_20151027_OHTAFEP_1790825.jpg?itok=c42u4nlO
http://www.straitstimes.com/singapore/manpower/employers-lack-sense-of-urgency-in-hiring-older-people


"The reality is that we know the workforce is ageing, but there is just no urgency among a number of employers here in thinking about what they need to do in order to prepare themselves," she said.

She spoke to The Straits Times ahead of a Tafep roundtable discussion tomorrow that brings together experts, employers and employees to discuss how more older workers can be incorporated into the workforce, ahead of legislation to raise the re-employment age from 65 to 67 by 2017.

Organised in partnership with Singapore Press Holdings, the roundtable will be moderated by Straits Times deputy editor Ignatius Low.

Older workers will talk about what they are doing to remain employable. The session will also address employers' stereotypes of mature staff.

Mrs Ten said the stereotype of the older worker is, among other things, "resistant to change, afraid of technology, and unable to learn new things".

She added that employers often fear that they may generate higher costs, such as increased health insurance.

Or employers may put off making adjustments for more elderly staff as re-employment legislation is still two years off.


Employers often fear that they may generate higher costs, such as increased health insurance. Or employers may put off making adjustments for more elderly staff as re-employment legislation is still two years off.
PHOTO: Employers often fear that they may generate higher costs, such as increased health insurance. Or employers may put off making adjustments for more elderly staff as re-employment legislation is still two years off.
Stock Photo - the big boss is angry scolding an employee
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0WlstTclpZYf2I6G4iyDukxGP2F_A61jI5WU_npiwoib-PmLK0GuDj6djV6TOnjrSibSRg3zn-WYqrxp4m3WsvqEqZ-xvreYlKEXPin6FI1j6Oby2qn_uoEaztIBxfkoJ7kilYe5xt4Y/s1600/18650343-el-gran-jefe-enojado-est-rega-ando-a-un-hombre-de-negocios-Foto-de-archivo.jpg
http://previews.123rf.com/images/alfonsodetomas/alfonsodetomas1303/alfonsodetomas130300048/18650343-el-gran-jefe-enojado-est-rega-ando-a-un-hombre-de-negocios-Foto-de-archivo.jpg
http://es.123rf.com/stock-photo/attitude_employee.html?mediapopup=18650343


Age-related complaints to Tafep fell from 88 in 2013 to 54 last year, with about 24 registered in the first half of this year.

Mrs Ten said that these largely pertained to job advertisements that are biased towards younger workers. For example, an F&B company looking for a trainee manager indicated in its ad that it wanted applicants aged 19 to 30, while an educational institution set an age limit of 40 for a research position.

She said the employers had been unaware of their ageism and were willing to change their ads. The educational institution explained that it wanted younger researchers in order to tap a certain research grant.


Employers had been unaware of their ageism
PHOTO: Employers had been unaware of their ageism
Younger researchers wanted in order to tap a certain research grant. Manpower Ministry punitive measures involve curtailing work pass privileges.
Remember that in seventy-seven percent of cases, the bully is protected.
Posted by Crystal Spraggins on Tuesday, 12 March 2013 at 10:17 PM
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTHFGfA3SxurlqcwX0ZW2ljWEzzDDu-frD9UvAhYP5PkQdBGwAQbNDON4SHHmAuXHuJPqL6eHZBVL8NvDn_YhclVXlGee9d4BPO1ST8MmqYgl7dgRCpnJmDPRqeFWddyVDb865i6dmceY/s1600/bullying+picture.jpg
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLySuFBa6q6ESiVc47iWmER3TYgI_pT72lraTae60W0xyVQlvAesMTq4Ur-e_IJJQycadlq0SSZKZLh9PT5ODLY8qoQ613OJ2_g57nL1wL9JAp-n_tIxYRtFkHXEYuiPERFvrM5tM0Y2g/s1600/bullying+picture.jpg
http://crystalspraggins.blogspot.sg/2013/03/what-to-do-if-youre-being-bullied-at_12.html


The 22 companies that were unable to justify to Tafep why they had age limits in their job ads last year were referred to the Manpower Ministry for punitive measures, which involve curtailing their work pass privileges.

Senior Minister of State in the Prime Minister's Office and Tafep co-chair, Mr Heng Chee How, said that demonstrating the value of mature workers is one way to help reduce ageist employment attitudes.

He added: "One should also publicise the good examples of employers recognising and ably tapping the value of, and showing due respect to, their mature workers."

 By Olivia Ho, oliviaho@sph.com.sg, The Straits Times, Tuesday, 27 October 2015, 5:00 am SGT


One should also publicise the good examples of employers recognising and ably tapping the value of, and showing due respect to, their mature workers.
PHOTO: One should also publicise the good examples of employers recognising and ably tapping the value of, and showing due respect to, their mature workers.
Posted by Sham Majid on 13 October 2014
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6FheWrDUWhjUKLKgU71LW68ag3AfNsvdPgpovBfcOvLImMVpmQTuMATxgeKtHxyt-X00hYYUmzviyqhnpj6efrkwvg65C8jXnBTN_xKBW-uY2SqKqiBfnErOJSvkDHkiGsykvD4fOh9c/s1600/iStock_000043120824XXXLarge.jpg
http://www.hrmasia.com/sites/default/files/field/images/iStock_000043120824XXXLarge.jpg
http://www.hrmasia.com/node/225221



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Tuesday, March 3, 2015

5 fun facts about that famous dress

My Paper, Tuesday, March 3, 2015, Page A9, Lifestyle
From http://epaper.mypaper.sg/emnd/fvxen/fvxp/fvxpress.php?param=2015-03-03
Source Website: http://mypaper.sg/lifestyle/5-fun-facts-about-famous-dress-20150303
By Jalelah Abu Baker, jalmsab@sph.com.sg, mypaper, Published on Mar 03, 2015, Agence France-Presse
 

The photo that sparked the online debate (left) and how the dress really looks (right). Even Singapore's Prime Minister Lee Hsien Loong, weighed in on the question.
PHOTO: The photo that sparked the online debate (left) and how the dress really looks (right). Even Singapore's Prime Minister Lee Hsien Loong, weighed in on the question.
PHOTO: Tumblr, Agence France-Presse
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFxt9oXxaWu9dB47iPqbnhVhOVYJ8r0yDly0DzJfhOlbDuzUa2WGxYG3Zl5Z4hqotpvv5hXoyOZhbMLaKTrGIFkEA2mRTLIRy1A8o7pIWzu2SzAIqQjW_nd2ZNLjLEUEXAMKVERLxSXe4/s1600/5+fun+facts+about+that+famous+dress.jpg
My Paper, Tuesday, March 3, 2015, Page A9, Lifestyle


IT CAN be hard to believe that a blue/black and white/gold dress broke the Internet last weekend.

An innocent question about the colour of the dress from a teenager on a small Scottish island, posted on social media last Thursday, had unanticipated far-reaching implications.

Everyone from celebrities like Taylor Swift and Mindy Kaling to politicians in the United States, and even Singapore's Prime Minister Lee Hsien Loong, weighed in on the question.

Science has come to the rescue to explain the difference in colour perception. Here are five things you should know about the dress that has the Internet world splitting its head.

The dress is blue and black, period.
Peter Christodoulou, owner of British clothing company Roman Originals which made the dress, told the Washington Post that it is blue and black.

But a white and gold version will be out soon.
An actual white and gold version of the dress can be expected by the end of the year. Mr Christodoulou told the Washington Post that there have been many requests for a white and gold version of the dress following the Internet frenzy, and that the clothing company would take about five months to make the dress available.

The science behind it
If you see the dress as white and gold, your brain has removed shadows cast on the dress. In a scientific explanation, the New York Times attributed the divide to "colour constancy", the eyes' ability to assign fixed colours to objects under widely different lighting conditions.

Different people may pick up different visual cues in the image, which can change how they interpret and name the colours, the article said.

Age matters
According to a poll on Buzzfeed, which first picked up the dress colour question and confused the Internet world, age seems to play a part in colour perception. The poll showed that the majority of the 74 per cent who saw the dress as blue and black were above 60 years old.

Why the immense interest?
The Inquisitor online news website, beyond looking at the science of the colour of the dress, delved  (dig) into the science of why people care about it.

It seems the vast majority of people "would rather discuss the colour of a dress, a funny, innocuous debate, than deal with hard truths like beheadings by the Islamic State in Iraq and Syria", it said.

This is because people do not feel they have much to say about more serious topics because they are not experts, while they are experts on what they see and what they do not.

By Jalelah Abu Baker, jalmsab@sph.com.sg, mypaper, Published on Mar 03, 2015



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Tuesday, March 27, 2012

Too old to get hired, too young to retire

Today, Monday, March 26, 2012, Page 13, Comment and Analysis
From http://imcmsimages.mediacorp.sg/CMSFileserver/documents/006/PDF/20120326/2603CAC013.pdf
Source Website: http://www.todayonline.com/Commentary/EDC120326-0000013/Too-old-to-get-hired,-too-young-to-retire
By Michael Kinsley, BLOOMBERG, 04:45 AM Mar 26, 2012



PHOTO: Michael Kinsley, BLOOMBERG
Photographer: Brandon Schulman/Gallery Stock
http://www.bloomberg.com/image/ihg1Z2PIDCSI.jpg
http://www.bloomberg.com/news/2012-03-22/too-old-to-get-hired-too-young-to-retire.html


A friend of mine had his name in the paper the other day.

It was an article speculating about who might inherit a prestigious post in the literary world when the current grandee retires. The article said that my friend would have led the list 10 years ago.

Ouch! The obvious, though unstated, implication is that now he's too old. He recently turned 60. He said he already has his dream job and didn't mind the idea that, because he is 60, some career opportunities have moved beyond his reach. But I mind.

Another friend of mine, whom we'll call "Nick" (because that's his name), is doing something about it: He's suing.

Nick went to Stanford, where he graduated with honours and won a Rhodes Scholarship to Oxford. After Oxford, Nick went to Stanford Law School, where he was managing editor of the law review. He clerked for the Supreme Court, won election and re-election as Attorney-General of North Dakota, served for eight years, then lost a race for Governor, went on to practice law and served as chief legal officer of several Fortune 500 companies. Then he decided that he wanted to teach.




PHOTO: Michael Kinsley is an editor and columnist at Bloomberg View. His column appears on Fridays. For many years he was the editor of the New Republic and a columnist for the Washington Post. He was the founding Editor of Slate.
Photographer: Brandon Schulman/Gallery Stock
http://www.bloomberg.com/image/i37bsgeb52yk.jpg
http://www.bloomberg.com/news/2012-03-22/too-old-to-get-hired-too-young-to-retire.html


ONLY TWO INTERVIEWS

If you want to become a law professor, one of the things you have to do is submit your resume (plus a fee) to the Association of American Law Schools. Every fall, the group holds a conference to recruit faculty, at which law schools interview candidates they are interested in. Just about every accredited American law school participates. Two years ago, of 172 law schools, only two offered Nick an interview.

He had no job offers. Good heavens, why not? Was he Attorney-General of too small a state? Did the competition have even more Fortune 500 companies under its belt? Was it that lost race for Governor - the only blemish of failure on his record of success?

Nick suspects otherwise and I suspect he's right: It's age discrimination. He was 60 at the time. Now he's 62. Law schools just do not hire people in their 60s as tenured or tenure-track professors, except for the occasional "adjunct" (temporary) professor moving up or a lateral transfer from another law school faculty.

Imagine how infuriating this must be to an ambitious guy like Nick. Three or four decades ago, law schools were beating down his door. Now they won't even give him an interview.

Of course, every law school will have reasons for a decision not to hire a particular candidate. But 172 law schools and not one job offer? It seems beyond reasonable dispute that age discrimination must be involved.

Not everyone will agree about how big an injustice this is.

You may be thinking: "This guy's a jerk. He's won life's lottery again and again. Instead of filing legal documents all about how his credentials are better than everybody else's, he should be gracious, stand aside, and give some other people a chance at acquiring a bauble or two for their resumes."



PHOTO: My career has stalled, and I feel too old to start over.
Corporate recruiters and human resource departments are carefully trained to talk in code, saying that they're looking for "fresh thinking" or "energy, dedication and willingness to work long hours". You know what they really mean.
http://2.bp.blogspot.com/__3vt8K_UT3Y/ScxyxdkOKSI/AAAAAAAAAdc/Vq2bP28YPGQ/s400/treeman.jpg
http://adamantsun.blogspot.com/


SOME QUALMS (uneasiness)

Well, Nick has been a friend of mine for many years, and he's not a jerk. But I do have qualms about his lonely legal campaign.

I don't raise this topic easily or happily. I am one year younger than Nick. Of all the forms of discrimination that the law forbids - racial, gender, sexual orientation in some states - age discrimination is the one that nevertheless goes on most brazenly.

Corporate recruiters and human resource departments are carefully trained to talk in code, saying that they're looking for "fresh thinking" or "energy, dedication and willingness to work long hours". You know what they really mean.

Hiring or promotion to top positions in government and private corporations doesn't even pay lip service to equal opportunity for people over age 60 or so.

Is this necessarily wrong? The United States' Age Discrimination in Employment Act of 1967 begins with a "finding" of "rising productivity and affluence". These are different times.

In today's zero-sum world, someone who sits on a tenured chair or other sinecure is denying a place to someone else, probably younger. Was the law ever intended to protect baby boomers in no particular financial distress looking for a suitable capstone to a successful career?

Of course, Mr Nick Spaeth is entitled to whatever the law entitles him to, irrespective of my qualms or the unusual specifics of his case. But he's much better off than the blue-collar and white-collar workers whose jobs are actually disappearing. The most severe staff reductions among white-collar workers have come in my own industry, the media.

My literary friend, who apparently is 10 years too old for a job now held by an octogenarian, may well be telling the truth when he says it wouldn't interest him anyway.

But remaining gracious as the generations shift is harder than I would have expected. Fortunately, we all get a chance to be victimised by this shift - if we're lucky.
By Michael Kinsley, BLOOMBERG, 04:45 AM Mar 26, 2012

Michael Kinsley is a Bloomberg View columnist.



PHOTO: Even at 50 plus, she is still looking good. Age is just a number?
http://2oldformaxim.files.wordpress.com/2008/07/071008-1935-whatwouldyo2.png?w=460
http://2oldformaxim.wordpress.com/2008/page/15/



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Saturday, January 21, 2012

Retirement how much is enough ?

Source Website: http://business.asiaone.com/Business/My%2BMoney/Planning%2BYour%2BRetirement/Investment%2BAnd%2BSavings/Story/A1Story20120120-323060.html
By The Business Times, ben.fok@grandtag.com , Friday, Jan 20, 2012



PHOTO: Retirement: how much is enough?
http://business.asiaone.com/A1MEDIA/business/01Jan12/images/20120120.143115_jan2012_retirement.jpg
http://business.asiaone.com/Business/My%2BMoney/Planning%2BYour%2BRetirement/Investment%2BAnd%2BSavings/Story/A1Story20120120-323060.html


AT A FAMILY function, my 60-year-old cousin Peter asked me for my views on retirement planning. He said that over the last 35 years he has worked hard, consistently saved and prudently invested his money. When he retires in two years' time, this should provide him with a nest egg of about $500,000. As I listened to him, it seemed that he had secured his financial future. But he kept asking: 'Is it really enough?'

At this age, many would expect to have a significant retirement nest egg. If they don't, they had better do something about it now.

In Singapore, our official statistics show that there are more than 300,000 individuals aged between 50 and 54 who are due to retire in 10 to 15 years' time. As a financial adviser, I often discuss this subject with my clients but often this issue is not treated as a top priority. Understandably, there are other priorities, such as children's education and mortgage repayments or other immediate needs, that take precedence over retirement planning.



PHOTO: We've all given it at least a little thought. How much superannuation will you need to enjoy retirement?
Posted by Karina Barrymore, Herald Sun, January 07, 2012 12:00AM
http://resources2.news.com.au/images/2012/01/06/1226238/577066-super.jpg
http://www.news.com.au/money/superannuation/the-sunset-clause/story-e6frfmdi-1226239360254


Given the current economic volatility, the outlook for those planning their retirement is very cloudy. Over the last two years, we have seen the cost of living here increasing yearly, making retirement more expensive and resulting in many more Singaporeans having to put off retirement for a few more years. With higher longevity and people not saving enough, the working population of those aged 60 and over will inevitably continue to rise.

In Peter's case, he and his wife are healthy and they are likely to have a long life ahead of them. So it would be a mistake to concentrate solely on what's happening now or even on what might happen months from now.

Rather, they should focus on coming up with a spending and preservation plan that can assure them of enough money to live comfortably for the next 25-30 years, if not longer.

Hence, funding your retirement years is a trade-off between playing it safe, taking risks and spending prudently.



PHOTO: Money is relative, absolute numbers don’t usually work across the board for these kinds of discussions. Because really the question boils down to how valuable your time is to you, how much money would you need in order to to commit to giving up that valuable resource, time, to an employer?
Posted by Retired Syd, January 09, 2012, The (Half) Million Dollar Question.
http://retiredsyd.typepad.com/.a/6a00e54f2149068834016760402865970b-800wi
http://retiredsyd.typepad.com/


With the nest egg that Peter has accumulated, he can create a cash flow, and that is the most important consideration during his retirement. At this point, he has to set a reasonable withdrawal rate that will give him the spending cash he needs but won't deplete his nest egg too soon. Peter asked: 'How much can I safely withdraw from my retirement fund every year?' It is obvious that a miscalculation could result in an involuntary return to the workforce or having insufficient funds for retirement.

To help Peter understand how much he can withdraw, I produced a table to show the number of years his money will last.



PHOTO: Retirement Fund Plan - a table to show the number of years the money will last.
http://business.asiaone.com/A1MEDIA/news/01Jan12/others/20120120.141951_jan2012_rettable.jpg
http://business.asiaone.com/Business/My%2BMoney/Planning%2BYour%2BRetirement/Investment%2BAnd%2BSavings/Story/A1Story20120120-323060/2.html


It also shows how many years a sum will last at various withdrawal rates and various rates of return. If the withdrawal rate and the rate of return are the same, the principal will not change.

For example, when $100,000 earns 8 per cent per annum and 8 per cent is drawn, the principal stays the same. This is another strategy by which a retiree can create an income stream. So if Peter invests $500,000 in a diversified investment that can give him 5 per cent returns, he can make $25,000 per year of withdrawals without affecting his principal.

However, if $100,000 earns 4 per cent per annum ($4,000) and 8 per cent ($8,000) is withdrawn annually, the $8,000 annual income will continue for 17 years before the principal is gone.


PHOTO: For many people, the closer they get to retirement, the more concerned they get about whether they have saved enough or not.
Identify Needs: When you know how much money you will need on average you can set some savings goals for yourself.
Eliminate any debt you have.
Posted by Robin Bal, Thu 10 May 2007, Getting close To Retirement Age.
http://www.fortunewatch.com/wp-content/uploads/2007/05/corporate_caricatures_retirement.jpg
http://www.fortunewatch.com/getting-close-to-retirement-age/


It is important to understand that the rate of return and the withdrawal rate determine how many years the principal will last. There are no guarantees, of course, but generally the lower your withdrawal rate, the better the chances that your money will last throughout your retirement. But when the earnings are less than the amount that is taken out, you are dipping into your principal, so your money will not last for a long time.

If you start withdrawing a small amount from your portfolio, and adjust it for inflation, the chances are that your money will last longer whether you invest relatively conservatively or aggressively.

So to enjoy a decent retirement, you need to be responsible for your old age by starting to save adequately and invest prudently for your retirement as early as possible. I also believe that it is just as important that people take financial advice well in advance of their anticipated retirement. We have to carefully assess their investment portfolios, as this could make all the difference in the long run.



PHOTO: The secret to [retirement] life is to appreciate the pleasure of being terribly deceived. — Oscar Wilde
Posted by Dave Erhard at 3:17 PM, Wednesday, November 25, 2009, Zen for Your Retirement.
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjv5iwa5bNVdSnq97Xg8yHnxALnDil9dl_LzshuJ11BBGN37_QxDOQtWqgIS_67k3OjSI1NSsehoqbUDk5eKew0A6C0AueONabD4ZgVV8AhtwfXALWo60osUQYGfph7qHnLMy93De0Y13M/s320/Widgets+-+More+Time+than+Enough+to+Figure+Things+Out+c164926_l.jpg
http://retirement-planning-coach.blogspot.com/2009/11/zen-for-your-retirement.html


Singaporeans are intending to retire later, and those planning to stop working between the ages of 60 and 65 will double in the future. With increased longevity comes increased risk of potentially outliving one's retirement assets.

Another point to note is the unexpected 'life events' that may happen. No one can predict what lies ahead in their retirement journey. While we can determine when we want to retire and exercise to keep in good health, there are no certainties in life. Planning for one's retirement years must include taking into consideration life events that have the potential to disrupt your retirement years.

Hence, certain protection products - like medical, hospitalisation and long-term care insurance - are still needed during one's retirement to protect against the potentially devastating effects of unexpected life events like death and chronic illness.



PHOTO: Singaporeans are intending to retire later, and those planning to stop working between the ages of 60 and 65 will double in the future. With increased longevity comes increased risk of potentially outliving one's retirement assets.
http://images.businessweek.com/ss/09/06/0622_best_retirement_destinations/image/italy.jpg
http://images.businessweek.com/ss/09/06/0622_best_retirement_destinations/19.htm


We need to have a financial strategy that is flexible enough to adapt to a person's changing needs and circumstances.

Retirement can truly be great, but only if you carefully manage your money throughout your golden years.

Note: The strategy described in this article may not be suitable for all readers. If you are in doubt, consult a financial adviser.

The writer is chief executive officer of Grandtag Financial Consultancy (Singapore) Pte Ltd. He can be reached at ben.fok@grandtag.com



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PHOTO: We need to have a financial strategy that is flexible enough to adapt to a person's changing needs and circumstances.
A picture of Lisa Winters, PB Miss December 1956. Born in Florida, 5’2″, 106 lbs, 35-23-35.
http://en.wikipedia.org/wiki/Lisa_Winters
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiihfI8RwfeFNUdYv_dJUKK7WXvb7TRUCRbPalMMaxvx7YnllErSiazjrL-mSCxsgScVgiMM9LIZLHrTeMRB8BKEgRQCA1_f5Vb86XVJw9rvnRAwYioESGHPyE0mq-rTgphiKWN_R9I_DE/s1600/30.jpg
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpmD5imxsFy8Qc8bHEqUrP0XZI00VSN2xxYoJHpAsZpNzei_S_eEUUWPb_zL8quF4phiR8Rp_9kRJoeOsEzaN4R82SNq3sFwqYUFNJfX4rAH8971PFSjyqtKz5UQwcrLLL4nSKE2r3A26A/s1600/30.jpg
http://bikerexcalibur2.blogspot.com/2010/12/pin-up-varios_25.html



PHOTO: Personal Finance Check-up: Are You Saving Enough for Retirement?
By Vonda Sines
http://www.womansday.com/cm/womansday/images/aH/Personal-Finance-Check-up-Are-You-Saving-Enough-for-Retirement-mdn.jpg
http://www.womansday.com/life/saving-money/personal-finance-check-up-are-you-saving-enough-for-retirement-77241



PHOTO: Do you expect to retire at 65?
Posted by Community Team, October 26, 2011 10:30 AM | Read 4 comments4
"Considering the high costs of living, I do suspect many will be forced to work way past 65 in order to avoid poverty, somehow living in cardboard boxes or on the streets surviving on soup kitchens and pan handling is not the golden years that most imagined."
http://www.cbc.ca/news/yourcommunity/retirement-piece.jpg
http://www.cbc.ca/news/yourcommunity/2011/10/do-you-expect-to-retire-at-65.html


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