While traveling recently, I met an older couple who were living their retirement dream – exploring the world and joyfully proclaiming they were “spending their children’s inheritance.” Their laughter was infectious, but it made me think:
• Does it always have to be one or the other?
• Can we enjoy life to the fullest and leave a meaningful legacy?
The answer is yes.
For many, legacy planning means hoping there’s something left over for the next generation after death. But with a thoughtful strategy, you can plan for a vibrant, worry-free retirement and ensure you leave a meaningful legacy for your next generation.
A Case Study
John, age 55, dreams of traveling the world with his wife Sarah and experiencing new cultures when he retires at age 65.
He plans to withdraw $60,000 annually ($5,000 monthly) from his savings, starting at age 65 and continuing until age 85 (based on today’s value before accounting for inflation). With the help of his financial consultant, they determined that he would need a retirement savings of $1.48 million by the time he turns 65.
John also creates a Will to ensure that Sarah, along with his children Emily and Noah, will benefit in the event of his death.
But life is rarely that predictable. What if:
A Smarter Approach: Our Legacy Strategy
John explores a different path – diversifying $100,000 into our Legacy Strategy at age 55. Here is how it transforms his retirement and legacy:
Supplement for Retirement Needs
The Legacy Strategy allows John to tailor how he wants to grow his wealth with two distinct accounts. While he receives a consistent income stream from different sources of such as CPF Life, Supplementary Retirement Scheme (SRS) funds, insurance payout, and investment returns, he can make partial withdrawals from the Legacy Strategy if needed.
A Meaningful Legacy
If death happens in the earlier years, John’s beneficiaries receive an enhanced legacy – an additional $200,000 on top of his initial investment of $100,000. In the long term, the account value of his Legacy Strategy grows, along with his legacy. This allows John to leave a meaningful inheritance for Emily and Noah, and even make an impact to causes he is passionate about.
With the Legacy Strategy, John can fulfil his retirement dream and also leave a meaningful legacy. He can live with peace of mind, knowing he has the resources to support both his life’s adventures and his family’s future.
Live More, Leave More
Your retirement should be a time to live more, not worry more. Let us help you align your financial future with your dreams and values.
Click the “Contact Me” button below for a complimentary consultation and discover how our Legacy Strategy can help you live the life you want.
Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.
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Ri’an’s approach is all about understanding each client’s unique aspirations and circumstances before guiding them step by step with a personalised action plan that lead to achieving their financial goals. He is able to simplify difficult-to-understand processes, or policies and highlight the essentials, thus empowering clients to make well-informed choices and be at ease with every decision.
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In compliance with the Personal Data Protection Act, Financial Alliance Pte Ltd (“FAPL”) seek your consent to collect and use your personal data (e.g. name, NRIC, contact numbers, mailing addresses, email addresses and photograph) for the purposes of and in accordance with FAPL’s Data Protection Policy, which can be found on FAPL’s website at https://fa.com.sg/data-protection-policy/.
根据《个人数据保护法》,鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料(例如姓名,证件号码,联系电话,邮寄地址,电邮地址和照片)。 该政策可在本公司网站上查寻,网址为 https://fa.com.sg/data-protection-policy/.
By submitting this form, you are deemed to have read and understood FAPL’s Personal Data Policy.
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