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nanoometre last won the day on September 6 2018

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About nanoometre

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  1. The best at the moment is Maybank. Standard chartered has eSaver at 2% but this is a promotion to get you put money in their bank. This 2% is subject to change after one or two months. Used to be below 0.5%, i th I think the minimum can be as low as $10k but the returns will be small. Find an agent who represents different insurance companies so you can get better spread ad choice. The companies are tied to the respective banks: Standard Charteted.. Prudential OCBC...Great Eastern DBS..Manulife Citibank...AIA CIMB..Aviva, NTUC, Tokio marine Maybank..Etiqa UOB..not sure Some banks give promotional stuff like ntuc vouchers, capital mall vouchers etc but buy the products that you find applicable to you and not becos of the vouchers.
  2. Maybank gives you 2.22% provided you deposit $1k in savings for every $10k in FD. So the effective interest is less that 2.22%., about 2% i believe.
  3. Some policies are not good. That is why they put people off. So do consider carefully what you want and see if they suit you. You also know that they have a 2 week grace period and if you are not comfortable with the terms and conditions, you can reject the policy and get back your money without any penalties. I have rejected a few cos after paying, I still was not comfortable. This is a kind of savings commitment and considered conservative. If you want want more gains from your money like above 4%, then you need expert advice or good reading to make sound decisions when buying into stocks etc. Of course another way is have a fund manager manage your portfolio. However there is no guarantee you will get profits all the time. I, too was dumb to have lost a bit, even under the advice of the so called experts.
  4. Just add, assuming you put the $20k annually in FD for the first 5 years, you will get @2%, ($20000 x 0.02 x 10) + ($20000 x 0.02 x 9) + ($20000 x 0.02 x 8 ) + ($20000 x 0.02 x 7) + ($20000 x 0.02 x 6) = $16000. Total sum based on simple interest is $11600. So if I can get more from the above endowment policy, the interest earned is about 2.9% or more.
  5. Also you may not want a long term plan, maybe 10 yrs endowment. For example there is one where you pay $10k or 20k yearly for 5 yrs and then collect after 10 yrs. For the 20k, you wil get back about $129k(depending on projected gains) for $100k deposit.
  6. Yes. I got one or two of these. Start small and build up as the years go by. For example, some allow you to start with $10k and pay for 4 yrs. Then start collecting after 5th yr. You pay $40k and you will get back at least 2.50% or more. Slightly better than the ordinary acct interest in the cpf @2.5%. Then you slowly build up. When you have saved some more, get another annuity, bearing in mind that it should be within yr means. By the time you are ready to retire, you can accumulate two or three plans, paying you at least $1k monthly. Bear in mind that once you commit a sum, the money is tied up and only available at a later stage of yr life. However some prefer to have ready cash. In that case put the sum in FD. You will get at this moment slightly below 2%.
  7. Agree. My problem is that sometimes we think we know abt the company based on reports but in the end, get played out. My broker is a nice person and there is trust that the product sold is good but that person too is mislead. For example the dbs minibonds aka leyman crisis. Lost a substantial amt. Amother is the hyflux saga. Supposedly good but kena conned. Lucky i didnt buy.
  8. Buying stocks if blue chips is good , that is , if you know when to buy (low) and when to sell (high). Unfortunately, most of us are laymen, a bit knowegeable but vulnerable unless we are like @socrates469bc. We need to monitor and check prices and we need to know the prices are subject to fluctuations due to the world economy. Blue chip stocks are reliable but we need to have holding power when things take a change for the worse. If planning for retirement. for me I will buy annuity plans, less risky and gives you more peace of mind. Different insurance companies have different types of plans. But basically they offer interest of about 2.2% to 3.5% or even 4% depending on the amount and tenure of your amount you put in. The longer you have put in, the higher will be the returns. Let's say you at the age of 45 put in a sum of money say $100,000 into one of annuity plans available. They need at least 4-5 years for it to generate money in order to pay out. Many companies provide payout on the fifth year, a monthly sum of approximately $350 or more per month for life (the amount varies among the different companies but is round this figure). Let's say you wish to collect till 85 years old. You will have collected $(350 x12) x 37 years = $155,400. Then you surrender your policy. They will always quote you surrender values at 3.25% and at 4.50%. It is not the minimum or maximum value but an indicative sum depending on the economy. Some insurance agencies are more reliable and having paying out the higher value. So if you surrender at age 85, your surrender value is between $105000 - $108,000 (estimate). This is similar to one of the plans quoted for me. The overall interest earned will be higher if you withdraw at a later date. Breakeven for most of these plans is around 10 -12 years. Say you put your money in Fixed Deposits (FD). The interest earned normally is slight below 2%. And if you put $100,000 in FD for 41 years, your simple interest earned will be $82000 (higher with compound interest). Total amount may be around $200000 (approx with compound interest, not too sure as I dun have prog to calculate). I was also given another proposal whereby for a lump sum, you get higher payouts but it starts on the 5th year and ends on the 20th year. Say for $120000, you get $770 per month for 15 years. That means $770 x12x15 = $138,600. This is guaranteed. At the end of the 20th year you will get a lump sum of say $21000 to $65000 (again depending on the economy). So total is about $160000 to $203000. Putting in bank for 20 years, $120000 will get $120000 x 0.02 x 20 = $48000. Total sum is about $168000 (more with compound interest). So you have to decide whether the track record of the insurance company is good, whether they pay out as declared. All agents will always give you the higher expected returns to make it look good so you have to make a decision whether to trust that company. So ask around and do your checks before deciding. When you get to 65 years, your cpf payout will be around $1000 monthly , plan your annuity to get you $1000 monthly so you will have at $2k pocket money. Hope this helps. I was also looking at the many plans available.
  9. Death is something you have to go through alone, even though, you may be surrounded by lots of people.
  10. nanoometre

    Pang Sai coffee

    Now gotch elephant poop coffee. More expensive.
  11. To be honest, i would have bought since it is so close to CIQ. Take bus can reach easily and can spend a weekend overlooking the straits. But what you said is true. History has shown us that the rules may just change at a moment's notice and you are caught off guard. But there are people who buy these properties and rent out their spore homes.
  12. This mall is a mixed development, has many residential units above, though not all look occupied. It overlooks the straits and so have lots of sea beeezes. May probably have sporean as well as prc owners.
  13. Visited today. Still quite empty and not many people on a sat afternoon.
  14. Cameras everywhere. Cannot run.
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