1. Those with less than $40k in Retirement Accounts at 55.
2. Those with serious medical conditions.
3. Those on pensions.
4. Those with private annuities.
What about those millionaires or half a millionaires?
What about those with properties worth half a million or more?
PS: TALIS is short for The Amazing Lifelong Insurance Scheme
they cud allow people the choice to withdraw everything upon 55 by signing a form on any terms the authority may need.. such as no welfare payouts etc.
ReplyDeletemoney stuck in the retirement account can be wasteful for a warren buffet type investor as cash in hand is worth lots more in the lockup. imagine compounding just US$10,000 into millions as many successful investors have done over the years.
are we encouraging the pioneering and adventurous spirit of our migrant fathers or are we telling our people to be safe, don't take risk, be more kiasi and kiasu?
ReplyDeleteit seems that we want our people to be kiasi and kiasu, don't trust them, lead them by the nose, take care of them from cradle to grave and blame them for being over dependent on the govt.
then go out and invite foreigners here and praising them for their adventurism and being risk takers.