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I think k's context is dependents who cann't handle.
I would and I will appoint 2 or 3 guardian that I trust.
The trust can be set up when you are alive or activate as part of your will.
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Is there a trust that needs one time payment setup fees (Lawyer fees) and no maintenance fees thereafter? A trust that is managed by willing selected private trusted trustees rather then by commercial trustees? Even if there is who is to "police" the trust is carried out? For that you need maintenance fees. Looks like LPPL-You can't escape maintenance fees.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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09-06-2014, 11:27 AM
(This post was last modified: 09-06-2014, 11:43 AM by specuvestor.)
(08-06-2014, 04:39 PM)yeokiwi Wrote: (08-06-2014, 04:28 PM)LionFlyer Wrote: (08-06-2014, 03:25 PM)flinger Wrote: LionFlyer,
I don't think you understand what Yeowiki is saying. If he does meant to talk about CPF, that would leave his post as a somewhat of a strawman no? Since the CPF situation does not really apply to the said article and if he wanted to talk about fixed payouts, he could have used an annuity as his starting point. I would leave it to him as the ultimate arbitrator.
I was replying to the following question.
(08-06-2014, 02:46 PM)kagemusha Wrote: I wonder why the paper publish this?
It might be mere coincidence that the article was published with the CPF being a hot topic recently and many singaporeans are asking for their withdrawal of CPF in lump sum. Hey, it is even featured in the first page of Sunday Times.
Actually, they can probably find a dozen Singaporeans that are in such dire conditions due to their squandering of their CPF money. But, I applaud them for finding a good example that is neither a Singaporean, nor anything to do with CPF money and at the same time, give a big hint of what will happen to those who are unable to manage their finance and yet will like to withdraw all their CPF at 55.
(09-06-2014, 12:10 AM)natnavi Wrote: She should have put her money in a "special fund" that earns her an interest rate of about 2.5%. And when she reach a certain age, the fund will "pay" her a nominal sum per month with her own money. That is the "correct and only way" how normal people should manage their money. 
I agree with Yeokiwi completely. This is a reminder of how fragile the human heart is. Temptations and relationships all come into play. How are you gonna say no to your brother? How are you gonna say no to your children who wants the money to go study overseas? How are you gonna say no to batam?
And what happens when they dont repay you? Isn't that obvious in real life? That's why CPF can be used only for local tertiary because the govt can help chase the money back for you. Like I posted in another thread this makes a lot of sense and disconnect the "relationship burden"
People even complain on the guaranteed products that popped during Lehman. As always people think success and freedom is theirs, but losses and problems should be socialised
I know natnavi meant it as a snipe but I totally think that should be the way. This is just one example. Multiply that by 1 million and you will see the problem in 10 years time if people are allowed to withdraw their money lump sum.
If there are other alternatives to mandatory retirement planning on a national scale, especially the retirement of the baby boomers, I would like to hear it.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
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(09-06-2014, 11:27 AM)specuvestor Wrote: ......relationships all come into play. How are you gonna say no to your brother? How are you gonna say no to your children who wants the money to go study overseas? How are you gonna say no to batam?
And what happens when they dont repay you? Isn't that obvious in real life? That's why CPF can be used only for local tertiary because the govt can help chase the money back for you. Like I posted in another thread this makes a lot of sense and disconnect the "relationship burden"
I agree.
Relationships are the heaviest baggage in our lives. 
What George Clooney says from 1:48 onwards is sadly true.
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He response in the article throws up a number of questions.
She invest in her brother's business with SGD 100K and its for a lorry. I do not know the cost of a lorry in Malaysia. It should not cost that much unless its a complex lorry with specific function.
She then withdrew SGD 400K to purchase another 2 more lorry which average out SGD 200K per lorry. I wonder what type of vehicle would cost that much. I do not think there is COE in Malaysia as well.
The business initially made money in the fist three months. The fourth month the company made a loss, she fell out with her brother and did not recover any investment. She invested SGD500K in the company and did not attempt to recover anything? Which normal person would do that regardless you are educated or uneducated I do not believe anyone will take this bitter pill.
She said the last 400K she withdraw and it only lasted her for 5 months. However in the article her monthly expenses is RM5 to 6K. The story does not seem to fit.
Before her husband death, their combine income is RM5K a month. If with RM5K them can survive why would she need RM6K now?
Lastly she does not drink or gambles. So how did she spend that much money?
There are just too many question in relation to the article.
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http://news.asiaone.com/news/singapore/y...-donations
Yishun orphans' family still has bulk of donations
20140609_orphans_st_shinmin.jpg
Mr Lim Kwang Chuan at his brother's funeral last year (right) and with some of the money the family received from people in Singapore.
AsiaOne
Monday, Jun 09, 2014
Many people have been criticising online how the widow of the cleaner who died at Budget Terminal last year spent the $1 million she received in donations and insurance payouts within a year.
When the story broke yesterday, many were quick to say that she had mismanaged the money.
Lianhe Wanbao noted that it was not uncommon for the public in Singapore to donate to the families of victims of accidents and tragedies.
In its effort to find out how other beneficiaries of public donations have been doing, the Chinese daily visited the family of the four Yishun orphans yesterday.
The four children - aged three to 13 then - lost their father in February last year to a traffic accident on the Tampines Expressway. They lost their mother to cancer two months before that.
They received more than $400,000 in public donations after the accident.
Their maternal grandmother said that she is managing the money together with the children's paternal uncle, and are very careful with it.
"We withdraw $2,000 each month for living expenses, and to pay for utilities. And only took an exra $500 out during the New Year to buy new clothes for them.
"This is money from the public, we have to be accountable for it," she said.
She said that they "still have $400,000 from the donations", Wanbao reported.
She said that the children are doing well in school.
sinsh@sph.com.sg
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(09-06-2014, 09:45 PM)greengiraffe Wrote: http://news.asiaone.com/news/singapore/y...-donations
Yishun orphans' family still has bulk of donations
20140609_orphans_st_shinmin.jpg
Mr Lim Kwang Chuan at his brother's funeral last year (right) and with some of the money the family received from people in Singapore.
AsiaOne
Monday, Jun 09, 2014
Many people have been criticising online how the widow of the cleaner who died at Budget Terminal last year spent the $1 million she received in donations and insurance payouts within a year.
When the story broke yesterday, many were quick to say that she had mismanaged the money.
Lianhe Wanbao noted that it was not uncommon for the public in Singapore to donate to the families of victims of accidents and tragedies.
In its effort to find out how other beneficiaries of public donations have been doing, the Chinese daily visited the family of the four Yishun orphans yesterday.
The four children - aged three to 13 then - lost their father in February last year to a traffic accident on the Tampines Expressway. They lost their mother to cancer two months before that.
They received more than $400,000 in public donations after the accident.
Their maternal grandmother said that she is managing the money together with the children's paternal uncle, and are very careful with it.
"We withdraw $2,000 each month for living expenses, and to pay for utilities. And only took an exra $500 out during the New Year to buy new clothes for them.
"This is money from the public, we have to be accountable for it," she said.
She said that they "still have $400,000 from the donations", Wanbao reported.
She said that the children are doing well in school.
sinsh@sph.com.sg Quote:"This is money from the public, we have to be accountable for it," she said.
As money is concerned, it is not so much you are investment savvy or not (though it matters) but how you use money instead of let money use you is utmost important. i think nothing in this world can escape the "First Principle of all Things" If you fail the 1st Principle, you fail in all subsequently.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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(09-06-2014, 12:10 AM)natnavi Wrote: She should have put her money in a "special fund" that earns her an interest rate of about 2.5%. And when she reach a certain age, the fund will "pay" her a nominal sum per month with her own money. That is the "correct and only way" how normal people should manage their money.
frankly speaking, money management is a profound subject. Just like how we managed our fund in our portfolio. Sometimes I wonder those complaining CPF system know how to managed if they get their money all out.
Can they get 2.5% throughout their life or can the money last them till their last breath... 
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strange no one ask/query the authencity of this story, I suggest read this pc of news with pinch of salt
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10-06-2014, 12:20 PM
(This post was last modified: 10-06-2014, 12:45 PM by egghead.)
(10-06-2014, 10:56 AM)pianist Wrote: strange no one ask/query the authencity of this story, I suggest read this pc of news with pinch of salt
With names, photos, etc, this story is much more credible than a lot of hearsay posted. Having said that, I do wonder if she is telling the whole truth.
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