Janice Foo
Auditor
Janice wanted to stop by 60. She was not sure how, because CPF LIFE can start at 65. We set up her Standby Income.
FOR SINGAPOREANS AGED 50 TO 60
Planned for 65.
Tired at 60.
60Your age
CPF LIFE can start at 65.
What pays you from 60?
Raphael Kang · Financial Adviser Representative · Phillip Securities Pte Ltd
He is able to break it down in simple terms for me to understand.Daniel See, client
THE YEARS NOBODY PLANS FOR
By 60, many people feel ready to stop.
Stop at 60 and CPF LIFE is still 5 years away.
5years
until CPF LIFE can pay you
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What would you want each month?
$3,000 a month
Stop at 60
Each block is 1 year before 65.
$180,000
That is 5 years at $3,000 a month.
Simple maths. Months times income. Rising prices are not counted.
CPF LIFE can start at 65. So what pays you until then?
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HOW I PLAN IT
CPF LIFE covers you from 65. I plan the years before it.
CPF LIFE. Paid every month, for life.
My plan for the years before 65.
How long and how much depends on the products chosen.
I call it your Standby Income.We start with savings you already have.We work out together what pays you each month from 60.
What you get depends on the products chosen. Investments can lose value.
Three CPF LIFE plans. Each pays you a different way.
Basic: smaller monthly payouts, more left for your family. Payouts can fall in later years.
Standard: the same amount every month. The most of the three to start.
Escalating: starts lower, then grows 2% every year.
You can also start later, up to 70, for a higher payout. Up to 7% more for each year you wait.
What goes into Standby Income
I mix three types of plan. How much of each depends on you.
Annuity. Regular payouts, as set out in the contract.
Market-linked plan. Regular premiums, invested in the market. Value can go up or down.
Lump sum plan. One sum, invested for growth and income. Value can go up or down.
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CLIENTS
What my clients say.
You have been very trustworthy and most of the time I get pretty fast responses from you.
He is able to break it down in simple terms for me to understand.
I really appreciate Raphael’s honesty and earnestness.
Four stories, in my words.
Amelia Khoo
Client
Amelia did not know what policies she had, or how she would retire. We found some she had forgotten.
Amar Sharma
Cargo Manager
Amar was not sure how much income he needed. Now he knows the monthly income he is planning for.
Aileen Quek
Client
Aileen’s policies were all over the place. We reorganised them. She has retired, and her income now comes from several sources.
I chose these stories. They may not be typical. Your result may be different.
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YOUR ADVISER
I’m Raphael Kang.
First I look at the whole picture. What you earn, save, own and owe.
Then I show you the numbers. You decide.
Financial Adviser RepresentativePhillip Securities Pte LtdMAS RNF KSW300480744
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YOUR INCOME MAP
What happens when we meet.
The first meeting is free.
1
We talk first.
Your family. Your goals.
2
You bring your CPF app.
That is all I need.
3
We map your income, year by year.
You see any gap, in dollars.
4
If it helps, we plan your Standby Income.
You take it home and decide at your own pace.
You leave with three things.
- What CPF LIFE could pay you each month.
- Your gap, in dollars.
- A written plan with your numbers.
We meet on Zoom.
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Want to see your own numbers?
Message me. We will find a time.
Leave no stones unturned. That’s how detailed I would describe the session with Raphael on planning for my finances.
Patrick, client, Feb 2023
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