Saturday, February 19, 2011

Singaporeans cannot afford to retire

Singaporeans worked hard and has a high per capital income. But many cannot afford to retire. Why? See the cartoon by Wing Lee Cheong in SGEP

http://easyapps.sg/sgep/admin/file.aspx?id=50

Can you answer to the question posed in the cartoon - why Singaporeans cannot afford to retire? Give your answer here:
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1 comment:

zhummmeng said...

Another factor why Singaporeans cannot retire is their hard earned squandered and abused by insurance salesmen who masquerade as retirement experts.
What do these salesmen know? Plan for you? OMG!!!!!!ntuc has launched a so called retirement product which is SOLD AS A PRODUCTS, as an end itself, TO GENERATE COMMISSION FOR THEMSELVES and NOT as retirement solution. What do these salesmen know about retirement planning? Don't kid me. These salesmen are planning their own commission, I bet.
These products are SOLD and APPLIED as the cure all products without taking into consideration the circumstances of the customers.
Believe it or not the low income earners or poor consumers and the rich are given the same 'vehicle' to bring them to their 'destination'. I wonder who will reach their goals. All I know the salesmen get the commission.
My advice to consumers is NEVER let the salesmen so called advise you of your retirement. Sure die..after 20/30 I am not surprised you find yourself in McDonald kitchen cleaning toilets or at Fair Price picking vegetables eking out a living.
Please, salesmen don't plan or can advise your retirement. The only thing they know is sell you a high commission product that purportedly
'plans' your retirement.
A retirement planner is an expert in financial planning, expert in investment planning and products and will find the BEST vehicle unigue to you to take you there unlike the salesmen who will sardine packed you, all kind of people with varied background, into a MRT(the product)going to Joo Koon and all of you end up in Joo Koon station. You may be going somewhere but the salesmen assumed the Joo Koon bound train(product) will take you to the places you are going.. Is it true? Some may reach by luck but many will not, right? This is what ntuc insurance salesmen are doing. THERE IS NOTHING WRONG WITH THE PRODUCTS PER SE but it is terribly wrong with the salesmen. They are greedy, dishonest and INCOMPETENT.

February 19, 2011 11:24 AM

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