This year’s TOTO Hongbao draw has raised quite a lot of interest with a largest ever top prize at $13.9 million. This amount of windfall will provide anyone with a retirement if he/she choose so. Investing the windfall, and assuming a 4% max annual withdrawal rate, a sole winner can expect a 556k annual “income”, or a 46k monthly “paycheck”. According to an article by The New Paper, statistician has analyse the odds of this happening to you at 1 in 14 million, which is even lower than the odds of getting killed by bee sting, from shark attack, by asteroid, or in a plane crash.
If the above is true, how do you increase the odds in your favour, making sure that your retirement is in order without the calamities?
For a 35 year old, contributing less than 1800 a month to a retirement fund for 25 years, can look at a guaranteed 60k annual retirement income after retiring at age 65. Odds of this happening is 99.9%. Risk of critical illness is also transferred, and will not affect your financial plan to retire at 65.
This person could be you too! Contact me and I can work with you to start planning for your retirement.