YOU CAN'T RETIRE IN SINGAPORE

Not for most under current scheme which a couple expect themselves to work until 62 year old, pay off a HDB flat with CPF, and then rely on money in the CPF Special Account plus savings in the bank to last for the rest of their life.

I estimate that up to 95% of families in Singapore can't afford retirement.

CURRENT DATA, ASSUMPTIONS & SCENARIOS

The 2006 median family's monthly income in Singapore is S$4500 (combined income of 2 or more earners).

Employed Households by Monthly Household Income from Work (source: Singapore Department of Statistics, Feb 2007):

Monthly Household Income from Work (S$): Per cent
Less than 1000: 5.7%
1000 – 1,999: 13.0%
2,000 – 2,999: 13.6%
3,000 – 3,999: 12.3%
4,000 – 4,999: 10.5%
5,000 – 5,999: 9.0%
6,000 – 6,999: 7.0%
7,000 – 7,999: 5.4%
8,000 – 8,999: 4.3%
9,000 – 9,999: 3.3%
10,000 and above: 15.8%

Let's assume that a typical Median Income couple at retirement age:

• Married at age 25 and thereafter work continuously for 37 years;
  
• Each received 12 months salary plus 13th month bonus every year;
  
• Salaries either remain or increase but never drop;
  
• No income disruption as a result of lost of employment due to retrenchment, illnesses or handicap;
  
• Final 7 years's average income is S$4500 per month (Final Monthly Income); average monthly salary in the first decade of work is half the Final Monthly Income; average monthly salary in the second decade of work is two-third of Final Monthly Income; average monthly salary in the third decade of work is three quarter of Final Monthly Income;
  
• Save 13th month bonus minus CPF contribution every year;
  
• Monthly cash balance is negligible;
  
• No net inflation (i.e. income always caught up over overtook inflation)
  
• Employer CPF contribution is on top of the Income mentioned
  
• Pay off the HDB apartment through CPF Ordinary Account by retirement;
  
• Medishield would look after all medical needs;
  
• Family retirement fund comprises of monies in Savings plus CPF Special Account only;
  
• Have S$163K by 62 year old, based on current CPF Special Account contribution structure and interest rate;
  
• Savings Account Rate is less than 1% per annum (based on rate in the past decade);
  
• Retirement Fund needs to last until at least 85 year old (or 23 years after retirement).
  

Base Case Retirement Scenario

Based on the above data and assumption, For a Median Income Family, the savings in the bank will amount to approximately S$108K, and balance in the CPF special account, S$163K. So, after 37 years of hand-to-mouth living, the couple will retire with less than S$275K to their names. Singaporean will agree that a couple will need at minimum, S$2K/month or S$24K/year for living. In this scenario, the retirement fund will exhaust within 11 years. This means, either the retiree couple would die with food in stomach before 73 or starve to death without food in stomach by 74.

Alternative Scenario I

An improved scenario would have the couple put every dime that they save every year in CPF Special Account (or equivalent) that fetches 4% return per annum. The compounded retirement fund would amount to approximately S$193K + S$163K (savings plus CPF contribution respectively) = S$356K. This scenario will allow the couple to live for 14.8 years after retirement – up to 76.8 year old.

Alternative Scenario II

A more aggressive improved scenario would have the couple put every dime that they save every year into investment that fetches average return of 8% per annum (twice as good as CPF Special Account). The compounded retirement fund would amount to approximately S$467K + S$163K (savings plus CPF contribution respectively) = S$630K (savings plus CPF contribution). This scenario will allow the couple to live for 26.3 years after retirement – up to 88.3 year old.

Likely Improved Scenario

The likely improved scenario would be in between Base Case, Alternative I and Alternative II scenarios.
To provide for rainy days, the couple kept the first S$10K in bank that bears next to zero interest. This S$10K would take at least the first 5 years of savings. The next S$20K of savings into fixed deposit that gives 2% interest. The next S$20K is at least savings from the next 7 years. Subsequent 20 years of savings will be invested in more aggressive fund with capital guarantee; which typically yields no more than 6% per annum. With 12 or more years of yield lower than 4%, lower total amount in investment less aggressive than 8% per annum return, such median income couple would likely have about S$10.5K + S$35K + S$81K + S$163K = S$289.5K (Savings Account plus Fixed Deposit Account plus Investment plus CPF Special Account respectively) for retirement. The amount could only last between12 years after retirement. That means even with investment, the median couple is unlikely to survive beyond 74 year old. Those below median income will definitely be worse.

CONCLUSION

To survive until 85 year old on annual allowance of S$24K, a couple will need S$552K as the minimum fund for a humble retirement -- it was shown on Straits Times that to retire a Singapore family needs more than S$2M.

Based on the Likely Improved Scenario investment pattern, even family with S$10K per month (top 15th percentile families) cannot retire because such family will only have S$10.5K + S$35K + S$180K + S$163K = S$388.5K (Savings Account plus Fixed Deposit Account plus Investment plus CPF Special Account respectively) for retirement.

Only family with monthly income of S$20K per month and above could afford to retire. The average annual household income of 91st to 100th (highest 10 deciles) is S$174.3K, so may be only the top 5 deciles family could afford retirement.

DISCLAIMER
This modeling of course could not take into account life style, spending pattern, the ability of family members being employed for 32 years without income drop, inflation, and better investment return. Although, only the top 10 deciles families may have spare cash for more aggressive and hence better return investment.

This model also could not determine what amount is enough for families who could afford more than minimum requirement.

Extract from 中時電子報 2007/11/01 04:49

世界經濟論壇（ＷＥＦ）昨日公布最新全球競爭力評比，二○○七年全球競爭力排名，在一三一個受評國家中，美國競爭力仍高居第一，其他依序是瑞士、丹麥、瑞典、德國、芬蘭、 新加坡、日本、英國、荷蘭等。前十名中，北歐國家就占了三國，且進步最多的是瑞典，由去年第九名上升至第四名. 台灣的排名第十四名，較去年滑落一名；南韓今年競爭力大躍進，由去年第廿三名進步為今年的十一名，在主要國家中名次進步最多。
　
世界經濟論壇「全球競爭力」指標由三大類、十二項及一一三個細項組成，三大指標包括「基本需要」、「效率增強」及「創新因素」等。

台灣在金融市場成熟度由去年四十七名滑落到五十八名，退步的幅度最大；其中，銀行健全度由去年第一百名，滑落為今年的第一一四名。
　
其次，在「總體經濟」指標方面，台灣滑落四名為第廿六名，主要是財政赤字排名第五十九名，政府債務第五十三名，這幾項排名落後，大大影響總體排名。 台灣在「體制」方面退步七名為第三十七名，包括小股東權益的保護（排名第六十九），大眾對政治人物的信賴（排名第五十七）、司法獨立（第五十三名）等細項的排名均落後, 無論在財政赤字、還是政府債務，及對政治人物信賴方面，台灣都大幅落後，影響總體排名。
　
台灣向來表現較好的「創新因素」，今年亦退步三名，排名第十，其中，企業成熟度排名退步一名，排名第十四；創新指標方面，退步三名，排名第九。此外，在「商業競爭力」指數排名，台灣今年亦退步四名，自第十九名滑落至第廿三名，其中包括公司營運與策略成熟度滑落六名，國家商業環境品質滑落四名。

　

It's Condom...Stupid

Outdated doctrine and misplaced faith creates perfect disaster that even Creator would shun.

Does the Church really care about her faithful?

• opposition of contraception make the poor even poorer -- Ghettos in Philippines and Latin America as proofs --, and
• creates downward spiral that the generation after generation could not escape -- destitution leads to lack of education, no health care hence diseases, teenage pragnancy, violence, drug abuses, sex trade, and crimes.
• Not willing to educate the faithful on the use of condom make them vulnerable to AIDS and SIDs
• With these groups of faithful being poor, uneducated, diseased, and crime-prone groups producing baby at much higher than world's average, the world even without wars will become a more dangerous place by the day.

Catholic condom ban helping AIDS spread in Latin America: UN
The Catholic Church opposes all forms of contraception and instead promotes abstinence.
Tue, Oct 23, 2007Reuters

TEGUCIGALPA (Reuters) - The rapid spread in Latin America of the virus that causes AIDS is made worse by the Roman Catholic Church's stand against using condoms, a U.N. official said on Monday.

Some 1.7 million people across Latin America are infected with the HIV virus or full-blown AIDS, and the epidemic is spreading swiftly with up to 410,000 new cases in 2006, up from as many as 320,000 new cases in 2004, according the UN AIDS program, UNAIDS.

"In Latin America the use of condoms has been demonized, but if they were used in every relation I guarantee the epidemic would be resolved in the region," said Alberto Stella, the UNAIDS Coordinator for Honduras, Nicaragua and Costa Rica.
The Catholic Church, which holds sway in Latin America despite the rise in evangelical churches, opposes all forms of contraception and instead promotes abstinence as a way to avoid spreading AIDS.

"The fact young people start to be sexually active between 15 and 19 without sex education contributes to the spreading of the virus, as well as the fact that the evidence shows abstinence is not working," Stella told Reuters.

Latin America is home to nearly half the world's 1.1 billion Catholics, but the Church's position on premarital sex and contraception often clashes with modern values. Brazil, the region's largest Catholic nation, regularly distributes free condoms to try and bring down HIV infection rates.

God created Adam & Eve Not Adam & Steve! ...

Following is my response to an article titled "God Created Adam & not Steve!" posted on Sammyboy's Forum by BBBrothers on behalf of Christians in Singapore (the original post is below my response).

Going by the logic of the title, all human must be descendent of Adam & Eve.

Question for the Christians: Are you also against INCEST???

Because after Adam and Eve, the family -- parents and child, siblings -- had to mount each other to mass produce the entire human race.

If you are against Incest then why do you support marriage -- and called it holy communion -- as that's aiding the Incest crime?

If you are not against Incest then why does homosexuallity bothers you as it's no more sinful or unnatural than Incest?

It has been scientifically proven that homosexuality (gayness) is inborn (natural) and exists in all animal segments. The statistics was between 10% and 20% of population are gay in any communities (i.e. 1 in every 5 to 10 people you know).

So, either your religion is wrong -- human are not from Adam and Eve, hence we are not incestious; which if that's the case, then there is no point talking about Adam and Eve --, or your logic is wrong as you obviously can't discern and reason.



"God created Adam & Eve Not Adam & Steve!
There has recently been wide discussion in the press and the Internet on the issue of homosexuality with different views expressed. Christians, like other thoughtful citizens, are also concerned about this issue.

We present our position below as a guide to Christians in our member churches and as our witness, as concerned citizens, to the society in which we belong. It saddens the church when we found out that a petition is out to change the penal code which will legalize homo related activities.

Our stand:
1) Recognizing the Bible as the authoritative standard for its faith and practice the Church has historically and consistently held the view that the practice of homosexuality is clearly incompatible with the teachings of the Christian faith. The only sexual relationship, sanctioned by God and given as a gift from God, is between a male and a female within the bounds of a monogamous marriage.

2) Therefore, we do not condone homosexual practice and we consider homosexual lifestyle as sinful and unacceptable. However, this does not mean that we reject or despise homosexuals (homophobia). We acknowledge that every person is loved by God and we all live under the grace of God. Homosexuals should be regarded and treated no less as persons of worth and dignity.

3) The Church is called to be a caring community and a sanctuary, always extending ministry to all persons. As sinners ourselves, we are committed to the path of true freedom made possible by the grace of God and found in and through obedience to Jesus Christ. Without minimizing their struggles, the Church offers those beset with homosexual desire the same opportunity to receive God's forgiveness and fulfillment in Jesus Christ and to experience His transforming power. Not accepting homosexual practice and lifestyle must not be confused with homophobia.

4) In public debate about homosexuality scientific data have sometimes been used to support certain claims. To the layperson, science has been unsuspectingly regarded as an objective discipline and conclusions based on its findings have been assumed as irrefutable and authoritative. But that is an assumption we do not accept especially with regard to attempts to give biological explanations to homosexual inclination and behaviour. We note that there is no clear evidence that homosexuality is biologically determined.

5) Though we deem homosexual lifestyle totally unacceptable on the basis of the Bible and our faith, we believe that unless there are legitimate reasons homosexuals, as individuals, should not be discriminated against in areas such as employment. It does not follow, however, that our society should be re-ordered or allowed to evolve to the extent that eventually homosexual practice is endorsed, permitted or encouraged as an alternative lifestyle. In this regard, we urge our government to maintain: a) current legislation concerning homosexuality;b) its policy of not permitting the registration of homosexual societies or clubs;c) its policy of not allowing the promotion of homosexual lifestyle and activities.

6) As churches we seek to remain faithful to our Christian faith and practice. We shall strengthen the education of our members in the teachings and practices of our faith. We are committed to serving our nation by helping to preserve and promote wholesome values and lifestyles that will contribute to the well-being of our society.

What is Unnatural must not be encouraged. "

Super City -- Greater Shanghai Area

Shanghai is in the process of building a super Greater Shanghai connecting cities within 300KM radius. The Greater Shanghai will be 34 times bigger than current and 8 times more populated.

The new super city will be the largest city in the world comprising 130M people -- a little more populated than Japan and half that of USA. Satellite cities within the Greater Shanghai areas will be connected by magnetic highspeed train and highways, as well as undersea tunnel linking Pudong and the outskirt islands to facilitate 25-min car ride from end to end.

Shanghai is also buidling a high speed magnetic rail to Beijing, making travel between the 2 most important cities in 5 hours. The rail will be ready for 2010 World Expo.

The new development is likely to reduce duplication investement, maximize return, permits efficiency in logistics and creates a synchronized region conducive for rapid production and international trade.

The arrangement will have Pudong as Financial Center, current Shanghai as international trading sea/air ports, and logistic hub. The satellite town and cities will serve as production bases and sub-urban living quarters. Shanghai sea port will definitely become the busiest container port in the world in near future.

Purely from investment perspective, this super city alone will grow at neck breaking rate for another decade or two. God knows if they would spread such development model to other parts of the country to raise the living standard of the inner land?

From ecology perspective, if done wrongly the super city could create super disaster for the world i.e. pollution magnifies and environment badly damage. However, if done right, it would be a sustainable high growth model.

I could imagine half of the world's cranes and cement and steel and plenty of oil... flowing to Shanghai...just not sure the earth could sustain such development.

What can I say? Holy F**K! Seldomly in a life time we get to see such a major happening -- quasi building a Japan in one go -- for better or worse.

It just make living in Singapore a stint in Mickey Mouse's land.

最有錢兩成家庭 囊括台灣逾半財富 -- Spore the same?

最有錢兩成家庭 囊括台灣逾半財富更新日期：2007/10/13 04:39 -- China Times Electronic Post



自二○○三年開始，台灣最有錢的五分之一家庭，其總收入占總體首度超越五成，收入最低的五分之一，此比例則已跌破五％。研究顯示，台灣與美國相同，財富也有快速集中化的傾向。



二○○三年，收入最頂尖的五％族群總收入占總體高達二三．八六％，而所得最低五％，只分到○．四六％，首度跌破○．五％的門檻。鄭保志說，這一群人年所得只有六萬八千八百四十九元，平均一個月只有五千元收入。「這群人不是真的很窮的人，就是做攤販，這種政府抓不到的人」



如果比較這兩群人的平均所得差距，一九九八年，最高與最低五％是三二．八倍，到二○○三年已高達五一．九倍。


如果以五分位法來看，最有錢的家庭，賺錢能力越來越驚人。二○○三年，最有錢五分之一家庭，總收入占全國高達五○．四三％，這是有史以來第一次超越五成。台灣經濟成長的果實，五成是落在這五分之一家庭身上。而這些收入，尚不包含海外所得、買賣股票的差價。



而收入最低的五分之一比重則跌落到四．八％。如果用這個數字來計算所得差距倍數，最高與最低所得者倍數早超過十倍。遠較主計處以問券調查的官方統計高。主計處的統計，所得差距倍數僅六點○七倍.



65er:

The same phenomena in Singapore.

• Top 20% earner made approx. 50% of total income.


• The next 30% made approx. 30% of total income.


• Hence, top 50% made 80% of total income.


• Top 20% family's income is 21 times that of the lowest 20% family's.
• Polarization happened.

What the brain sees

Capitalizing on Income Disparity

1) How conducive a country is for living depends on 1) level of development; 2) income disparity. The former the higher the better and the latter the narrower the better.
Never mind Canada is a more developed than Singapore, let's just compare income disparity of the same year.

Canada:
"In 2005, the average market income for families in the highest quintile was 12.8 times higher than those in the lowest quintile. However, once all government transfers are distributed, this ratio fell to 6.9 times higher. After taxes the average income for families in the highest quintile was 5.6 times higher than their counterparts in the lowest" -- Statistics Canada

Note: quintile means 20 percentile

Singapore (2005 income):
Top quintile (20%) avg. monthly income : S$12,890 (top 10%: S$16,480; 2nd 10%: S$9300); -- Department of Statistics, Singapore
Bottom quintile avg. monthly income : S$590 (lowest 10%: S$0; 2nd lowest 10%: S$1180); -- Department of Statistics, Singapore

Hence, income disparity for families in the highest quintile was 21.8 times higher than those in the lowest quintile.

Income disparity in Singapore is a lot higher even with the income re-distribution program named "Progress Package".

So Canada is a better place for making a living then Singapore.

2) When considering retirement, one needs to assess his disposable fund against equivalent in the national income scale to determine affordability and quality of life.

For illustration purpose, if S$4K monthly income is around 30th percntile income in Singapore, and a retiree with S$1K/mth disposable could live as well as a working person with S$4K/mth income but needs to pay for housing loan, tax, CPF, insurance, and transportation to work, then this retiree is said to have a quality of life equivalent to the 30th percentile income earner of that country.

Most of the time, a person who has income at a certain level will retire at a much lower level because the savings are usually not comparable to the expense needed to maintain the same level of quality of life while working. For example, a S$4K/mth earner might only be able to save enough to afford S$0.4K/mth for retirement -- equivalent to may be 70th percentile income earner.

A strategy to maintain the level of quality of life is to emmigrate to a place where cost of living is lower; which means income level is also proportionally lower.

So the same S$1K/month retirement will allow a person to live in the top 10% and S$0.4K/month the 30th percentile in Thailand, especially in places like Chiang Mai and lower cost cities.

So country like Thailand is a better place for retirement than Singapore.

Overall, one could live well and/or retire well by capitalizing on Income Disparity.

Sex crimes and the Vatican

"Sex crimes and the Vatican" was broadcasted by the British Broadcasting Corporation (BBC) on 2006-OCT-01. 1 They have placed the complete transcript online. 2

1. "Sex crimes and the Vatican" Panorama, BBC One, 2006-SEP-29, at: http://news.bbc.co.uk/

2. Transcript of the program is at: http://news.bbc.co.uk/

"Sex Crimes and the Vatican" was filmed by Colm O'Gorman, who was raped by a Catholic priest in the diocese of Ferns in County Wexford in Ireland when he was 14 years old. Father Seán Fortune was charged with 66 counts of sexual, indecent assault and another serious sexual offence relating to eight boys but he committed suicide on the eve of his trial. Colm started an investigation with the BBC in March 2002 which led to the resignation of Dr Brendan Comiskey, the bishop leading the Ferns Diocese. Colm then pushed for a government inquiry which led to the Ferns Report.

The Fern Report was the first to link church actions to a secret 1962 Vatican document called "Crimen Sollicitationis."

Crimen sollicitationis (Latin for "the crime of soliciting") was a confidential letter sent in 1962 by Cardinal Alfredo Ottaviani , Secretary of the Sacred Congregation of the Holy Office, to "all Patriarchs, Archbishops, Bishops and other Local Ordinaries, including those of Eastern Rite".
It laid down rules for procedures to be taken against clerics (priests or bishops) accused of having used the sacrament of Penance to make sexual advances to penitents.

Crimen Sollicitationis was enforced for 20 years by Cardinal Joseph Ratzinger before he became the Pope Benedict XVI.

On May 18, 2001, Cardinal Joseph Ratzinger (at that time prefect for the Congregation for the Doctrine of the Faith) sent a letter to all Catholic Bishops reminding them of the strict penalties facing those who revealed confidential details concerning enquiries into allegations against priests of certain grave ecclesiastical crimes, including sexual abuse, reserved to the jurisdiction of the CDF.

How do one believe in a criminal and the criminal institution he lead?

How Fat Causes Diabetes

Obesity is condition of a body having big quantity of fats. Excessive fat overwhelms fat cells and the surplus stored in the liver. Fatty liver could cause insulin resistance and results in diabetes.

Possible explanations of fatty liver include the transfer of fat from other parts of the body or an increase in the extraction of fat presented to the liver from the intestine. Other explanations are that the liver reduces the rate it breaks down and removes fat. Eating fatty foods does not by itself produce a fatty liver.

After a meal, a portion of the food a person eats is broken down into sugar (glucose). The sugar then passes into the bloodstream and to the body's cells via a hormone (called insulin) that is produced by the pancreas. If the the person has insulin resistance, sugar builds up in the blood, overflows into the urine and then passes from the body unused. Over time, high blood sugar levels can damage:
eyes - leading to diabetic retinopathy and possible blindness
blood vessels - increasing risk of heart attack, stroke and peripheral artery obstruction
nerves - leading to diabetic neuropathy, foot sores and possible amputation, possible paralysis of the stomach, chronic diarrhea
kidneys - leading to kidney failure

Prevention of Diabetes
There is no foolproof way to prevent diabetes, but steps can be taken to improve the chances of avoiding it:

Exercise. Studies of both men and women have shown that vigorous exercise, even if done only once a week, has a protective effect against diabetes. Exercise not only promotes weight loss but lowers blood sugar as well.

Lose weight. There is evidence that both men and women who gain weight in adulthood increase their risk of diabetes. A study conducted at Harvard showed that adult women who gained 11 to 17 pounds since the age of 18 doubled their risk of diabetes; those who gained between 18 and 24 pounds almost tripled their risk. Fact: 90 percent of diabetics are overweight.

Diet. The use of a diet low in calories and in saturated fat is an ideal strategy for preventing Type II diabetes. (See the ADA guidelines stated in the TREATMENT section).

It seems that Exercise and Weight reduction are the best way to prevent/reduce Fatty Liver and prevent Diabetes.

Gout Relief

I had minor gout recently. As it was minor -- painful and affected walking but not wide spread--, I didn't take medication, but followed the following food recommendation by The American Medical Association.

The changes included avoiding certain foods (e.g. food with yeast) and consuming certain things like drinking more coffee black or with low fat milk.

Gout Treatment
With proper treatment, people who have gout do not usually progress to the chronic tophaceous phase of gout. What is the proper treatment of gout? Medications can be prescribed to help control gout and there are lifestyle recommendations. People with gout are advised to:

• Avoid alcohol or drink alcohol in moderation
  
• Drink plenty of water and other fluids
  
• Lose weight if overweight but avoid fasting or quick weight loss schemes
  
• Avoid eating foods high in purines
  

Note: purine produces Uric acid in the body; uric acid deposited in joints could become crystal -like and hurt the joints i.e. gout.

Purine-Rich Foods

According to the American Medical Association, purine-containing foods include:

• Beer, other alcoholic beverages.
  
• Anchovies, sardines in oil, fish roes, herring.
  
• Yeast.
  
• Organ meat (liver, kidneys, sweetbreads)
  
• Legumes (dried beans, peas)
  
• Meat extracts, consomme, gravies.
  
• Mushrooms, spinach, asparagus, cauliflower.
  

What Should You Eat?

Dietary restrictions suggest what people should not eat, but what should people eat? What foods will help control gout attacks? The American Medical Association recommends the following dietary guidelines for people with gout, advising them to eat a diet:

• high in complex carbohydrates (fiber-rich whole grains, fruits, and vegetables)
  
• low in protein (15% of calories and sources should be soy, lean meats, or poultry)
  
• no more than 30% of calories in fat (with only 10% animal fats)
  
  Recommended Foods To Eat
  
• Fresh cherries, strawberries, blueberries, and other red-blue berries
  
• Bananas
  
• Celery
  
• Tomatoes
  
• Vegetables including kale, cabbage, parsley, green-leafy vegetables
  
• Foods high in bromelain (pineapple)
  
• Foods high in vitamin C (red cabbage, red bell peppers, tangerines, mandarins, oranges, potatoes)
  
• Drink fruit juices and purified water (8 glasses of water per day)
  
• Low-fat dairy products
  
• Complex carbohydrates (breads, cereals, pasta, rice, as well as aforementioned vegetables and fruits)
  
• Chocolate, cocoa
  
• Coffee, tea
  
• Carbonated beverages
  
• Essential fatty acids (tuna and salmon, flaxseed, nuts, seeds)
  
• Tofu, although a legume and made from soybeans, may be a better choice than meat
  
• Foods considered moderately high in purines but which may not raise the risk of gout include: asparagus, cauliflower, mushrooms, peas, spinach, whole grain breads and cereals, chicken, duck, ham, turkey, kidney and lima beans.
  

It is important to remember that purines are found in all protein foods. All sources of purines should not be eliminated.

2007 Retirement Index

Ranking) Country, Real Estate, Special Benefits, Cost of Living, Culture, Health, Infrastructure, Safety, Stability, Climate
1) Mexico, 84, 71, 84, 78, 79, 48, 92, 87, 79
2) Ecuador, 90, 72, 85, 66, 73, 42, 92, 94, 78
3) Italy, 63, 63, 68, 100, 92, 66, 100, 85, 77
4) Panama, 80, 85, 82, 57, 75, 48, 92, 48, 76
5) Australia, 80, 55, 73, 72, 88, 70, 100, 89, 75
5) Malta, 71, 65, 70, 73, 88, 55, 100, 90, 75
7) Spain, 75, 49, 70, 83, 92, 69, 100, 80, 74
7) South Africa, 87, 23, 71, 68, 58, 44, 86, 97, 74
7) Malaysia, 92, 65, 86, 69, 71, 43, 86, 50, 74
10) France, 60, 42, 62, 98, 100, 77, 100, 80, 72
10) Thailand, 84, 50, 85, 71, 78, 54, 86, 50, 72

2007 Retirement Index -- by International Living Magazine

Worth noting that Thailand came in top 10 in the world (2nd in Asia) together with France . It loses to Malaysia (by 2 points) mainly due to Special Benefits that Malaysian government offers to foreigner retirees, but Thailand beats Malaysia in Infrastructure, Health and Culture categories.

What is not measured is friendliness towards Singaporeans, which Thailand beats Malaysian hands down.

Taiwanese Dilemma

Saw recently on Taiwanese TV about the following discussions:
1) Taiwanese compared their election campaign with the Korean. One of the latter's candidate articulated target to make Korea the 7th economy in the world and annual economic growth of 7%. That compared with the campaign of mud slinging between the 2 Taiwanese candidates -- Ma Ying Jiu and Frank Hsieh; both brought no clear deliverable targets to the country.

2) Taiwanese compared their past years achievements to that of Singapore's and found themselves fallen short of the other island in the so named 4-little-dragons club. The comparisons were in the aspects of economic growth, global competitiveness, global ranking as the place for foreign investment, corruption index and etc.

In my personal opinion, I think: The Taiwanese society is facing a diminishing middle-class, decrementing educational level, and losing global competitiveness.

The middle-class diminishes due to manufacturers fleeing to China leaving many unemployed or under-employed, but yet the cost of living went up instead of down, hence pushing the middle layer in the demographic downward.

The education system decided to allow many more private universities while at the same time promote "native or love Taiwan culture" i.e. speaking more Taiwanese and become inward looking. The policy damaged the already handicapped English proficiency and caused a drop in Mandarin level. It also direct student's focus away from world's affairs.

The "Love Taiwan" campaign is a camouflage for the failed foreign affairs in winning support over China amongst international community. Every failure in turn reinforces besieged mentality thus fortifying self-pity and rebellion against the world. Need not say, politician capitalized on such for votes by advocating false hope of breaking away from China as a new republic.

The government's failure to revive the economy in the past 7 years had led to a lost in confidence in civil institution, self-confidence amongst workers, and combined with the dropped in educational level, create a lame environment not conducive for foreign investment and deficient in global competitiveness.

There is no lack of intelligence in Taiwan. However, failure is contagious. Without quick remedy, the diminishing middle class, waning economy, degrading education, reduced global competitiveness, and an inward self-pity outlook will weigh on the Taiwanese and eventually causing the people to feel helplessness and failed.

Taiwanese dilemma is a free-for-all and badly abused democracy doesn't facilitate a quick fix on economy, which without will further erode self-confidence.

BUT, would anybody in Taiwan want to give up democracy to be more like...say...Singapore???

Retirement in Chiang Mai

Cost of living in Chiang Mai is low relative to Singapore. It can't be high because a mid-level manager there may earn just about Bht20,000 to Bht25,000 per month (S$1K - S$1.2K), and the earner is subjected to tax, housing loan expenses on top of food and transportation expenses.

I estimated that my wife and I will need approx. Bht20,000 per month for living and transportation to retire there (not including housing and tax). We will have a fully paid-for house and no income tax by then.

Hence, budget of S$18K/yr would be comfortable.

If I put S$180K in investment with a Compounded Annual Growth Rate of 7%, the sum will double itself every 10 years.

In other word, if I put invest S$180K today, I can retire in Chiang Mai in 10 years time without worrying about income anymore. If I have S$360K today and I put half of it in investment, I can retire NOW (of course provided the house is fully paid).

All in S$500K is all that it takes in Chiang Mai to live like one with more than S$2M cash plus a paid-off landed house in Singapore.

Alternatively, if my wife and I could make S$18K/year there, we could also live there now; actually, either of us will be able to make that by doing freelance projects for 3-4 months in a year. So, semi-retirement is possible.

Back from Chiang Mai 2

Almost 1 year ago, I shared information about buying property and retirement in Chiang Mai. At that time, I just placed order for a make-to-design house in Chiang Mai. The topic aroused plenty of interest amongst Sammyboy's Forumers.

I just returned from Chiang Mai again, and this time the house is ready to move in.

The property (land & house) costs approx. Bht 2.9M (approx. S$138K). It's situated in a nice neighbourhood within a gated community completes with security guards, club house, and property management. The 2-storey detached house sits on a land area of almost 3000sqft. 70% of neighbours are foreigners from EU, Australia, Japan, Taiwan, US and etc.

I won't say that the quality of the house is comparable to a S$2M bunglow in Singapore, but for this price, I can only get a 3-room HDB flat of lower quality in Singapore re-sales market.

Interior

Clubhouse

Oh Canada!

The United Nations and many surveys have often rated Canada as the best country in the world to live in. Canada has the highest standard of living and best quality of life. Comparing to Singapore, she has edges in:

• Clean and beautiful environment;
  


• High standard and affordable healthcare;
  


• Quality education;
  


• Good social safety net for all;
  


• Good job prospect & Low income disparity;
  


• Long term sustainability;
  


• Democracy;
  


• Work and life balance.
  

1. Growing Job Market & Low Income Disparity
The economy is BOOMING! Hundreds of thousands of new jobs created each year. Canadians earn an average annual income of approximately $40,000; and income disparity between to top 20% families and the bottom 20% families is only 5.6 times in 2005.

2. Business Sustainability & Natural Advantages
Unlimited opportunities for development exist in the natural resources, manufacturing, construction, import/export, commerce, high-tech and service industries. Even China, India and USA are competing to secure natural resources including oil from Canada. Such Canadian advantages shall persist as long as these big nations continue to demand such resources for their survival. Canadian also has no fear for lack of clean water for drinking, industry, and for generating cheap and clean electricity. High-tech companies like Blackberry, Northern Telecom etc are Canadian produces.

3. Top Quality Education
Offering free primary and secondary education and subsidized post-secondary studies, Canada spends more on education than any industrialized nations. Canadian universities and colleges have an excellent international reputation for high quality.

4. Health and Welfare
Canadians have access to social assistance programs, affordable housing, FREE healthcare and a strong government that helps its people.

5. Democratic, Safe and Gracious
Canadian government is democratically elected and sustains high level of integrity. Community policing, strict gun control laws and a fair justice system make Canada safe and secure for everyone. Crime rates are among the lowest in the world and continue to decline. Canadians are also gracious in sharing and helping the less privilege.

6. Multiculturalism
Canada encourages immigrants to retain their unique culture. Nowhere else is there such a diversity of cultures existing together in a tolerant, peaceful society.

7. Work & Life Balance

Canadian society permits workers to enjoy a good work and life balance. Typical Canadian works hard and plays hard. They embrace sports, learn life-long at very affordable price, and work with job security and dignity.

About 65er

I am an atheist and existentialist. I believed that there is no god, there is no pre-determined meaning in life -- essence doesn't exist in the absence of existence.

I am straight, but, I believed that gayness is in-born, gay should not be discriminated, and homosexuality should not be crminalised. I wished I could turn back the clock to apologise to the gay schoolmates that I humiliated during the time when I didn't know better.

I don't believed in being the "factory" of the government to produce baby. I am doing well economically, but I can't even gurantee myself let alone gurantee happiness, health and wealth for offspring. One can refuse to create out of love.

I also believed that one has the right to leave this world at his own time with dignity.

I also think that some religious institutions are criminal.

I derived meaning from advancing knowledge and alleviating pain.