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Posted on: 2012/1/12 7:59
Home away from home
Joined: 2011/7/26
From: Penang
Posts: 203
Benz Model: C250 CGI Adv
Retirement Plan
Greetings to all !

I believe many of us are in the age of 40's or 50's, have u ever thought about your retirement plan ? There are lots of negative things about retirement life. One classic example is, my father was very strong just before his retirement, but 6 years later, he passed away with heart attack. Main reason was due to his eating habits.

Welcome anyone who can share with us your plans, appreciated, thanks.
Posted on: 2012/1/12 9:24
Home away from home
Joined: 2010/12/6
From: Abu Dhabi & Port Dickson
Posts: 5781
Benz Model: C107 380 SLC
Re: Retirement Plan
The opposite holds true for peeps in my profession. Studies show:
- If a pilot retires at 45, he lives to the age of 80-85
- Retire at 50 and he lives to be 75-80
- Retire at 55, the figure drops to 67-75
-And retire at 60, he lives to the age of 65

Something about the body losing the ability to recover from intense solar radiation at altitude with age.

I reckon if you keep active mentally and physically post retirement and do things that bring you satisfaction, you'll be an old, old man before you kick the bucket.

Vice President Of Kunjistan

Posted on: 2012/1/12 9:51
Just can't stay away
Joined: 2009/4/24
From: KL
Posts: 148
Benz Model: E280 W210 '96
Re: Retirement Plan

gerardj wrote:
The opposite holds true for peeps in my profession. Studies show:
- If a pilot retires at 45, he lives to the age of 80-85

Gerard,as a pilot I'm sure you've heard this joke below a million times.
"I want to die like my grandfather did, peacefully in his sleep. Not screaming in terror like his passengers."

But you're right about the need to be constantly active. That's also the time where you will cherish having your loved ones around you be it your spouse, kids, grandkids and friends.
Posted on: 2012/1/12 9:57
Home away from home
Joined: 2010/12/6
From: Abu Dhabi & Port Dickson
Posts: 5781
Benz Model: C107 380 SLC
Re: Retirement Plan

deezed wrote:

Gerard,as a pilot I'm sure you've heard this joke below a million times.
"I want to die like my grandfather did, peacefully in his sleep. Not screaming in terror like his passengers."

Hehe. I actually haven't heard that one before. Nice!

Vice President Of Kunjistan

Posted on: 2012/1/12 11:09
Home away from home
Joined: 2010/9/23
Posts: 416
Benz Model: W124 E220 MP
Re: Retirement Plan
Something to share here. Please take sometimes to read. Enjoy your reading, its interesting.

Optimum Strategies for Creativity and Longevity
By Sing Lin, Ph.D.
Member of National Council of
Chinese Institute of Engineers – USA/Greater New York Chapter, and
Member of Board of Director of
National Taiwan University Alumni Association – Greater New York
March 2002

1. Most Creative Years in the Life

The Nobel Laureate, Dr. Leo Esaki, delivered the distinguished lecture entitled "Innovation and Evolution: Reflections on a Life in Research" in the University of Texas at Dallas in the afternoon of Feb. 23, 2002 during the 2002 US National Engineering Week. In this lecture, Dr. Esaki indicated that most of the great discoveries and innovations by the Nobel Laureates occurred at the average age of 32 even though the Nobel prizes were awarded 10 or 20 years afterwards. Furthermore, Dr. Esaki indicated that the peak creativity of most scientists occurred around the age range of 20 to 30 years. As one gets older, the experience increases but the creativity decreases steadily with the age.

It is, therefore, very important to stimulate, encourage and cultivate many young people to get interested in science and engineering at their young age and to provide the optimal R&D environment for these very powerful young scientists and engineers to unleash their very strong creativities during their most precious and creative years around the age of32.

2. Longevity Vs. Retirement Age

The pension funds in many large corporations (e.g., Boeing, Lockheed Martin, AT&T, Lucent Technologies, etc.) have been “Over Funded” because many “late retirees” who keep-on working into their old age and retire late after the age of 65 tend to die within two years after their retirements. In other words, many of these late retirees do not live long enough to collect all their fair shares of pension money such that they leave a lot of extra-unused money in the pension funds resulting in the over-funded pension funds.
Dr. Ephrem (Siao Chung) Cheng provided the important results in the following Table 1 and the associated chart from an actuarial study of life span vs. age at retirement. The study was based on the number of pension checks sent to retirees of Boeing Aerospace.

The Boeing experience is that employees retiring at age of 65 receive pension checks for only 18 months, on average, prior to death. Similarly, the Lockheed experience is that employees retiring at age of 65 receive pension checks for only 17 months, on average, prior to death. Dr. David T. Chai indicated that the Bell Labs experience is similar to those of Boeing and Lockheed based on the casual observation from the Newsletters of Bell Lab retirees. A retiree from Ford Motor told Dr. Paul Tien-Lin Ho that the experience from Ford Motor is also similar to those in Boeing and Lockheed.

The statistics shown in the Pre-Retirement Seminar in Telcordia (Bellcore) indicates that the average age that Telcordia (Bellcore) employees start retirement is 57. Therefore, people who retire at the age of 65 or older are minority as compared to the number of early retirees.
The hard-working late retirees probably put too much stress on their aging body-and-mind such that they are so stressed out to develop various serious health problems that forced them to quit and retire. With such long-term stress-induced serious health problems, they die within two years after they quit and retire.

On the other hand, people who take early retirements at the age of 55 tend to live long and well into their 80s and beyond. These earlier retirees probably are either wealthier or more able to plan and manage their various aspects of their life, health and career well such that they can afford to retire early and comfortably.

These early retirees are not really idling after their early retirements to get old. They still continue doing some work. But they do the work on the part-time basis at a more leisure pace so that they do not get too stressed out. Furthermore, they have the luxury to pick and chose the types of part-time work of real interest to them so that they can enjoy and love doing that “fun” work at a more leisure pace.

The late retirees are small in number, tend to die quickly after retirement and disappear from the population of old people beyond the age of 70. Late retirees, therefore, have very little weight on the statistical average life expectancy of the population of “old people” dominated by the early retirees.

Several years ago, a Japanese friend of mine told me that most Japanese people retire at the age of 60 or earlier. This may be one of the factors contributing to the long average life span of Japanese people.

3. Changing Trend of US Pension Plans

The traditional pension plans of many major US companies used to place a lot of value on the experience of long-term older employees by increasing the pension money rapidly and nonlinearly for long-term employees as their age + service year increases beyond the threshold of the rule of 75. Most long-term employees cross this critical threshold at about the age of 55. On the other hand, the early retirees incur very heavy penalty in pension and in other associated retiree benefits (e.g., employer paid medical insurance, employer paid life insurance, death benefits for family, etc.) when they retire before they meet the rule of 75.
However, in recent few years, many large US corporations are switching from their traditional retirement pension plans to the new portable Cash Balance Plans. The new portable cash balance plans are much more favorable to the younger employees but are very unfavorable to the long-term older employees. Some older long-term employees found that when their employers switched from the traditional pension plans to the cash balance plan, their pensions were reduced by 30% to 50%.

One of the implications of this trend towards the new cash balance plan is that the US corporations are now placing more value on the higher creativity and adaptability of younger employees and less value on the experience of the older employees. This is consistent with the accelerating pace of innovations and technology advances. The creative and dynamic younger employees are better positioned, than the older employees do, to keep up with the faster pace of technology advances.

4. Conclusionand Recommendations

The most precious, creative and innovative period in your life is the 10-year period around the age of 32. Plan your career path to use this precious 10-year period wisely and effectively to produce your greatest achievements in your life.

The pace of innovations and technology advances is getting faster and faster and is forcing everybody to compete fiercely at the Internet speed on the information super-highways. The highly productive and highly efficient workplace in USA is a pressure-cooker and a high-speed battleground for highly creative and dynamic young people to compete and to flourish.

However, when you get older, you should plan your career path and financial matter so that you can retire comfortably at the age of 55 or earlier to enjoy your long, happy and leisure retirement life into your golden age of 80s and beyond. In retirement, you can still enjoy some fun work of great interest to you and of great values to the society and the community, but at a part-time leisure pace on your own term.

On the other hand, if you are not able to get out of the pressure-cooker or the high-speed battleground at the age of 55 and “have” to keep on working very hard until the age of 65 or older before your retirement, then you probably will die within 18 months of retirement. By working very hard in the pressure cooker for 10 more years beyond the age of 55, you give up at least 20 years of your life span on average.

Posted on: 2012/1/12 11:53
Wise Benzitos
Joined: 2006/1/16
From: USJ
Posts: 946
Benz Model: W212 E250 CGI
Re: Retirement Plan

I think its all written in the stars. I suppose God decides. . of course mitigating factors are to lead a healthy and moderate lifestyle.

I believe the family should not suffer financially when we pass on, i.e. uncleared debts, etc. For most of us, I believe, the single biggest debt is the housing loan burden.

There are many ways to plan for retirement - investing in properties, gold, unit trusts, shares, insurance, FD's etc. etc.

I suppose it all boils down to your personal targets - how much moolah you need to live on after 55 years, and not to be a burden on your kids.

As the saying goes, never put all your eggs in one basket - I have a mix and match of the above examples to plan for my retirement. Most importantly, my target is to be debt free by 55, with enough stashed away as my retirement income.

Otherwise I might have to become a monk and live in a cave.

Posted on: 2012/1/12 12:13
Home away from home
Joined: 2009/12/6
From: semenyih
Posts: 232
Benz Model: w203 c230
Re: Retirement Plan

hihi came across this article few days ago, worth reading.

Nurse Reveals The Top 5 Regrets People Make On Their Deathbeds.

For many years I worked in palliative care. My patients were those who had gone home to die. Some incredibly special times were shared. I was with them for the last three to twelve weeks of their lives. People grow a lot when they are faced with their own mortality.
I learnt never to underestimate someone’s capacity for growth. Some changes were phenomenal. Each experienced a variety of emotions, as expected, denial, fear, anger, remorse, more denial and eventually acceptance. Every single patient found their peace before they departed though, every one of them.
When questioned about any regrets they had or anything they would do differently, common themes surfaced again and again. Here are the most common five:

1. I wish I’d had the courage to live a life true to myself, not the life others expected of me.
This was the most common regret of all. When people realize that their life is almost over and look back clearly on it, it is easy to see how many dreams have gone unfulfilled. Most people had not honoured even a half of their dreams and had to die knowing that it was due to choices they had made, or not made.

2. I wish I didn’t work so hard.
This came from every male patient that I nursed. They missed their children’s youth and their partner’s companionship. Women also spoke of this regret. But as most were from an older generation, many of the female patients had not been breadwinners. All of the men I nursed deeply regretted spending so much of their lives on the treadmill of a work existence.
By simplifying your lifestyle and making conscious choices along the way, it is possible to not need the income that you think you do. And by creating more space in your life, you become happier and more open to new opportunities, ones more suited to your new lifestyle.

3. I wish I’d had the courage to express my feelings.
Many people suppressed their feelings in order to keep peace with others. As a result, they settled for a mediocre existence and never
became who they were truly capable of becoming. Many developed illnesses relating to the bitterness and resentment they carried as a
We cannot control the reactions of others. However, although people may initially react when you change the way you are by speaking honestly, in the end it raises the relationship to a whole new and healthier level. Either that or it releases the unhealthy relationship from your life. Either way, you win.

4. I wish I had stayed in touch with my friends.
Often they would not truly realise the full benefits of old friends until their dying weeks and it was not always possible to track them down. Many had become so caught up in their own lives that they had let golden friendships slip by over the years. There were many deep regrets about not giving friendships the time and effort that they deserved. Everyone misses their friends when they are dying.
It is common for anyone in a busy lifestyle to let friendships slip. But when you are faced with your approaching death, the physical
details of life fall away. People do want to get their financial affairs in order if possible. But it is not money or status that holds the true importance for them. They want to get things in order more for the benefit of those they love. Usually though, they are too ill and weary to ever manage this task. It is all comes down to love and relationships in the end.
That is all that remains in the final weeks, love and relationships.

5. I wish that I had let myself be happier.
This is a surprisingly common one. Many did not realise until the end that happiness is a choice. They had stayed stuck in old patterns and habits. The so-called ‘comfort’ of familiarity overflowed into their emotions, as well as their physical lives. Fear of change had them pretending to others, and to their selves, that they were content. When deep within, they longed to laugh properly and have silliness in their life again. When you are on your deathbed, what others think of you is a long way from your mind. How wonderful to be able to let go and smile again, long before you are dying.

Life is a choice. It is YOUR life. Choose consciously, choose wisely, choose honestly. Choose happiness.

Posted on: 2012/1/12 12:32
Home away from home
Joined: 2010/9/23
Posts: 416
Benz Model: W124 E220 MP
Re: Retirement Plan
Sorry for the repetition. I didn't realised that article was published in the Star coz I stopped reading MSM papers long time ago.
Posted on: 2012/1/12 13:01
Home away from home
Joined: 2010/12/6
From: Abu Dhabi & Port Dickson
Posts: 5781
Benz Model: C107 380 SLC
Re: Retirement Plan

RS-W124 wrote:

As the saying goes, never put all your eggs in one basket .


Or as my financial idol Warren Buffet once said: "put all your eggs in one basket....and watch that basket!"

Vice President Of Kunjistan

Posted on: 2012/1/12 14:08
Home away from home
Joined: 2010/7/20
From: Shanghai/Shenzhen/Minsk/Dnepr
Posts: 4455
Benz Model: W210 E320
Re: Retirement Plan
I'm retiring when I hit the big Five-Oh...ca. another 4 years. Financials are more or less like what most of you have said..so..no need repeating.

Am a firm believer that if you sit in da house doing nuthin'..the grim reaper pays yer the visit ahead of schedule.

Therefore my retirement plans are more like what I plan to do when I retire !!

1. Mille Miglia
2. Targa Florio
3. Euro 6 Passes Tour

Got meself a partner -in-crime too....

Money Drives Women Horny - Willie Nelson

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