8/23/2007

Annuity and char kway teow logic

What is annuity? It is like taking a big sum of money to give to someone to invest for you and promise to pay you a small sum till you die. So Ah Pek will take his $100k to an insurer to manage and invest for him with a promise. In the meantime Ah Pek must hope that the insurer will not go bust or run away. And also the insurer is smart enough to make more money than he can afford to pay his management fee and Ah Pek. If the insurer lost money in his investment, then trouble starts. Buying annuity requires a lot of faith and hope. Is it really worth it? And how much does it cost the govt to look after some of the oldies who are above 85 years old? Not every oldie will need govt charity. Only some. What does the statistics of today's oldies above 85 say? How many are dependent on charity or have their own means of living? I think one plate of char kway teow will be enough to provide for all the oldies that are destitutes and without any dependent to fall back on.
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3 comments:

  1. AnonymousAugust 23, 2007 11:08 am

    I dun think it wud cost alot to look after those above 85 years as many of them will be financial independent thats why they are still kicking, and those remaining few who needs help, they are not going to live very long too, not matter how much one exaggerated the figures.

    So are we looking at taking care of say 1,000 needy aged 85 who may be calling it a day in a year or 2 later?

    for a country that has collected and made so many billions and in future trillions, that reluctance to help their sons even for a song seems a bit ironic and mean to me.

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  2. AnonymousAugust 23, 2007 10:39 pm

    They want to suck every citizens bloods again...

    that's a funny way to put it, why havent i tot abt that ;-)

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  3. Chua Chin Leng蔡镇龍 aka redbeanAugust 24, 2007 11:40 am

    brilliant!!!

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