The following brought to you by Wilfred Ling, Chartered Financial Consultant and Associate Director for Promiseland Independent Pte Ltd

91% of Singaporeans are not prepared for retirement!

Do YOU know that the main cause is due to lack of access to financial advice?
Do YOU know that most financial “advisers” you have met are just salespersons?
Can YOU believe that the regulator allows an “O” level to give YOU financial advice?
How are YOU going to retire if YOU are NOT going to have access to financial advice?

WHAT if I tell you that you can achieve financial independence (retire) if you start planning early now - without consulting financial salespersons? To do so, you MUST understand and practice Comprehensive Financial Planning.

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9 in 10 Singaporeans do not feel well prepared for retirement

Channel NewsAsia

Date: 17 September 2009

SINGAPORE: Ninety—one per cent of Singaporeans do not feel well—prepared for retirement compared to the global average of 87 per cent, according to an annual report by Oxford University’s Institute of Ageing on Wednesday.

The Oxford Institute of Ageing is known for its gerontological research and training programmes.

Singapore, like most countries in the world, is facing an ageing population. In fact, the number of dependent adults is expected to surpass the number of dependent children for the first time next year.

The Oxford report suggested that the low level of preparedness is linked to a lack of access to financial advice. Although Singapore has a wide range of retirement products available, more could be done to educate families to plan for the long term.

The team responsible for the report conducted a workshop in Singapore to help stakeholders from the private and public sectors, non—government organisations and academics plan for an ageing society.

Participants were asked to suggest policy solutions for a variety of situations.

At the end of the three—day programme on Wednesday, researchers felt that Singapore is well—equipped to deal with an ageing population because there is a high level of awareness of the issues. One of the key solutions for Singapore is to keep older workers employed.

Dr George Leeson, deputy director, Oxford Institute of Ageing, said: "Governments need to help employers, employers need to help employees, and trade unions need to play a role. I know that in Singapore there are moves for re—employment legislation in 2012.

"What I think employers have to remember is that they are the people they have to keep in the workplace because there is going to be a demand for the skills they have."

Individuals are also encouraged to take responsibility for their own retirement by planning early, especially for financial security.

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bdarmawan  - keen for the tips   |Registered |2009-08-31 10:08:51 please incl me in the list. thanks Reply | Quote 0   2

Wilfred   |SAdministrator |2009-08-31 10:14:53 You can't see the sign up form above? Enable javascript on your browser because the form is written in javascript. Anyway I added you but you still must confirm the subscription on your email because the system does not allow me to subscribe anyone to the mailing list due to strict anti-spam policy. Reply | Quote 0   2

bdarmawan   |Registered |2009-08-31 11:06:20 oh you are right. I always turn off and allow selective website to run scripting (using Noscript from firefox), that's why i don't see the subscribe link thanks. may want to indicate your visitor to enable scripting also Reply | Quote 0   2

Wilfred   |SAdministrator |2009-09-05 09:28:24 Hi all, in each email I made some references to other related articles via URL. Apparently the URLs were mostly broken. I didn't know about this after a few days. I just managed to fix it. Really sorry about it. I am using an autorespondent which did not provide me with a complete simulation when I test it. So the "live" email & simulated emails were not identical. Reply | Quote 0   0

wee1228  - knowledge quiz from CPF's IM$avvy website   |202.156.10.244 |2009-09-25 09:51:21 i got an average joe from the quiz test >" Reply | Quote 0   0

Wilfred  - re: knowledge quiz from CPF's IM$avvy website   |SAdministrator |2009-09-25 12:43:46 wee1228 wrote: i got an average joe from the quiz test >" Hope you can achieve "Guru" status eventually Reply | Quote 0   0

Jiefang  - Result   |202.156.10.230 |2009-09-25 20:00:51 I got Guru (83%) but I don't feel that I know much (XX)" Reply | Quote 0   0

XLTan  - RE:knowledge quiz from CPF's IM$avvy website   |220.255.7.233 |2009-11-22 16:52:05 got a cool dude. juz that some answers i'm guessing! Reply | Quote 0   0

June  - Thank you   |220.255.7.165 |2010-01-05 12:21:58 Dear Wilfred, Happy New Year to you. I would like to say a BIG thank-you to you for your selfless sharing. I've gained much from your articles and views. I have also signed up for your 30 days financial planning tips. I must say the concept and pointers are great. And I am trying to apply some of them when I talk to my clients on their financial planning needs. I find myself more certain and confident about some financial topics like insurance & investment planning. Thanks again. Hope to see you in one of the providers' event. God blessed.. Reply | Quote 0   0

Wilfred   |SAdministrator |2010-01-05 12:49:44 Hi June, Glad you benefited from it. Let me know who you are if you do meet me. I don't attend much of the investment talks organized by iFAST & Navigator these days because the fund houses are often taking nonsense. Reply | Quote 0   0

Anonymous   |202.156.10.251 |2010-04-25 18:04:51 Hi Wilfred, I would like to meet you oneof these days. I am planning for retirement & would like to know more about investing for retirement & managing my resources. I was greatly disllioned by my previous financial adviser. Reply | Quote 0   0

Wilfred   |SAdministrator |2010-04-25 18:09:27 Anonymous 194:51, Not all of my clients are also "happy" with me. For example, I subscribe to the belief that passive management is the best way to approach investment, not active management. But since this means I don't speculate nor get clients excited over some hot funds, there are times I am perceived not to be doing anything. Reply | Quote 0   0

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