Google Maps Singapore

I had difficulty in using the journey planner from SBS and SMRT. A friend suggested that I use Google Maps. I tried it and the experience is positive. This is what I did:

• I searched for Google Map Singapore
• I select the destination, i.e. Marina Bay Sands, MICE
• I chose "Direction" and picked the nearly MRT stations, i.e. Promenade and Marina Bay.
• I found that it is better to take the bus from Promenade, as the walking time to the station is 1 min and the journey is 3 mins. I would have to walk 5 mins to the bus stop at Marina Bay stations

Well done to Google. They really know how to provide the best technology and make things simple to the public. Our planners in Singapore should attend Google school.

GOOGLE MAP ON ANDROID
I tried the same approach with my Android phone. It worked in the same way. I now know how to use this app on the mobile phone. It is wonderful.

Tan Kin Lian

4 year SGD Interest Rate Linked Structure Deposit

My wife showed me a brochure of the above structured deposit from a local bank. It comprised of 9 pages of detail. I told her not to invest in any complicated structured product, as she may not be aware of a catch.

The structured deposit offers an interest rate of 1.2%, 1.3%, 1.4% and 1.5% during the 4 years respectively. It gives the bank the option to call back the deposit at any half year period. The investor stands the risk of being locked up with the low yield if interest rate increases and the risk of being redeemed if interest rate drops further. There is no way that the investor can estimate the chance of either event. This structured deposit is not covered by the Government guaranty on deposits. There is a risk of total loss, in the event of failure of the bank. While this is small, the paltry yield does not merit it.

It is better for the investor to buy a government bond which will probably give the same yield with lower risk. It is a neater arrangement.

I hope that our banks and corporations will issue a straight forward corporate bond with a yield that is higher than government bond, and avoid all the complicated structures and options.

Tan Kin Lian

SAIL policy

Dear Mr. Tan,
I am 55 year old and not working. Is NTUC SAIL plan suitable for me? Thanks

REPLY
I am not familiar with this policy. Here are some negative comments about the policy, but I am not sure if the comments are fair or accurate:
http://tankinlian.blogspot.com/2010/02/get-benefit-illustration.html

Journey planner to Marina Bay Sands

I have to attend a dinner at Marina Bay Sands. I tried to use the journey planner from SBS and SMRT to get to Marina Bay Sands from the Promenade or Marina Bay stations. It was quite a hassle to use these complicated planners. I do not understand why the Land Transport Authority allows these two operates to operate different websites with different structures. Perhaps LTA should build an integrated website and make it easier to use.

Beware of scams

I receive this type of proposal often. They are scams. Sometimes, I get several in a day.

Good day dear Friend,
I am Sir Jonathan Yishai Baruch presently undergoing medical treatment in
doctor's hospital Bahamas. I worked with the British Oil Industry, East
London for over a decade and I was married for fifteen years without a
child. My wife died after a long illness that lasted for two years. I
vowed to use my wealth for the down trodden and the less privileged in the
society, and I am contacting you in regards to my proposition. I am
looking for a God fearing and trustworthy person who I can bequeath the
responsibility of making judicious use of my wealth in helping the down
trodden and under privileged one's in our society and the world at large,
while this will be of immense benefit to such an individual as well.
Unfortunately the doctors here have just confirmed my situation that I
will not live long I have decided to give out my money to the poor. I
deposited the sum of 20,000,000 (Twenty Million Great British Pounds) with
my Bank, this money is still there. This is purely intended to bring
succor to the helpless and as such, a well trusted personality is required
so please, get back to me using my direct contact below if you consider
yourself competent and qualified to fit the above described profile and if
interested to commit your time and resource to this project.

Letter to SGEP

Do you have a letter to write to SGEP? You can give your views as a citizen or resident of Singapore. If you have sent a letter to the main papers and they do not accept it, you can send the letter to SGEPortal@gmail.com.

Manage the financial needs of elderly parents

The Sunday Times have a good article on how you can manage the financial needs of your elderly parents.

I wish to focus on the option called "do it yourself". First, you can ask your parent to generate a financial plan using the available savings. This free service can be found in Prepare Your Financial Plan in this website. This financial plan will show you the retirement income (based on 20 years draw-down) after age 65, at various yields. You can compare the income against what is offered by other investment choices, such as a life annuity.

Your comparison should be based on the income "before adjusting for inflation" as the other options are also unadjusted. Pay special attention to the fact that the retirement income depends on the yield that can be obtained from the investment.

You are likely to get a yield of at least 4% by investing in an indexed fund over the next 20 years. This is explained in my book on financial planning. Your parent should also attend the educational talks organised by FISCA.  Even if your parent wish to invest in a life annuity, it is a good idea to get the benchmark to compare if the life annuity offers an attractive yield.

Tan Kin Lian