Investing: Why Bother?

Congrats.

You just strike 4D. With all your savings and the prize money, you got 1 million dollars. You think you are ready to retire by the age of 55 next year.
But heh reality check.

Your son, Charles, will be going to the states to study an engineering degree in 2 years time. The cost of this 4 year programme will amount to about $200,000. Your mum is 76 and enjoying the golden years. Your Dad is 80 and has cancer. His expected cost of treatment is $100,000. That is $300,000 to be deducted from your retirement checque. Then, there is $400,000 tied up in your new condo. Your million-dollar retirement now looks a lot less attractive.

This story may not reflect your situation completely, but the underlying facts are real.Singapore like many countries in the world suffer the problem of an aging population. Lets face it, due to the circumstances most people are marrying later, and consequently, by the time we near our retirement, our children may still be financially dependent on us, as will be our parents.

But let us not allow such grim facts get us down. There are ways to get around our various commitments, a proper financial planning and prudent investing is the way.

What is a proper financial planning? Pls stay in touch.