Tag: financial planning
Why are some folks blessed with riches while others struggle to make ends meet? What is the magic formula to wealth?
The answer, according to renowned millionaire guru T. Harv Eker, is found in one’s money blueprint. In his bestselling book, Secrets of the Millionaire Mind, Eker urges us to change our personal money blueprint and reprogramme the way we think, feel and act in order to achieve mastery over our wealth, attain financial freedom, and lead more meaningful lives.
PM Lee at National Day Rally 2014 (courtesy of Prime Minister’s Office)
Prime Minister Lee Hsien Loong’s recent National Day Rally speech got me thinking about the challenges of planning for one’s retirement. Are Singaporeans aware of how much funds they need to retire comfortably? Do they know what their true retirement living costs will be?
I like how PM illustrated the case of a fictitious 54 year old senior technician named Mr Tan, and how his estimated living costs of $2,000 per month could possibly be met. Through the example given, PM showed that a CPF Minimum Sum of $155,000 – to be adjusted to $161,000 next year – isn’t an unreasonable amount to be considered in one’s Retirement Account (RA). In fact it can only cater to a very basic lifestyle and is probably insufficient for those who retire earlier (at say 55 rather than 65 years of age).
Courtesy of Rentoid
In an age where anything and everything is trending towards FREE, companies face many increasingly thorny dilemmas on the issue of pricing. What should one charge in order to make a profitable and sustainable living? How can one stand out from other similar businesses using price as a lever? Is there a trade-off between the number of users/subscribers/fans and actual paying customers?