What if you can't afford to retire (Sunday Times)

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Re: What if you can't afford to retire (Sunday Times)

Postby Dennis Ng » Fri Mar 23, 2012 12:11 pm

ngtfook wrote:
Plan to Retire with Adequate Savings

http://theonlinecitizen.com/2012/03/pla ... e-savings/

Tip 5: Do not worry about critical illness insurance. The incidence is likely to be low for young people and the expenses are likely to be covered by your employer. You have other more urgent things to worry about. Do not spend your savings on risks that are more remote.

In the "How to Save and Accumulate One Million Dollars Seminar", I share the way to cover risk of Critical Illness is to buy a comprehensive medical insurance, premiums can be paid using CPF Medisave. (It's the best way to use Medisave, use it to pay Medical Insurance premiums, instead of pay Medical Expenses.

So this advice about forgetting about risk of critical illness is actually UNSOUND, I hope the author does NOT mislead the public and leading to many sad stories later when critical illness hits some people. It is very risky to depend on employer to cover your medical expense. What about after you retire, then who has to bear the risk? Dangerous advice from this author.

This shows again that even though everyone has an opinion, but not everyone's opinion is worth listening to.

P.S. when I found out that the author is Mr Tan Kin Lian (former CEO of NTUC Income), it gets me even more worried. Many people becos of his background might blindly listen to this advice to forget about the risk of Critical Illness. He is CEO does NOT mean he has enough knowledge/experience on Financial and Insurance planning, since this was NOT his job. I was a Certified Financial Planner for 8 years.

Actually, the 3 seminars I conduct provide a Holistic way for people to Plan, Manage and Grow your money. And if you learned and grasped what is being taught in my 3 seminars, then it is just a matter of time for you to reach Financial Freedom.

I did it in 15 years, by age 39, applying what I teach you. What I teach really works, I know, becos I'm a Living Example.


Dennis Ng

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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