And one reason to keep working Imagine one day waking up and realizing you DON’T have enough money to retire. That’s the scenario faced by many retirees and soon to be retirees. In industry jargon this savings short fall is called “underfunded”. For some it may be too late, but for many, some simple lifestyle …
Take up a new sport If you had all the money and all the time in the world what would you do? This weekly insight offers some post retirement strategies, and they’re not necessarily just about money. After all, when you retire, you not only have money, but you also have time. In retirement, managing …
Why making no decision may be your best decision At the turn of the 21st century, two US academics, Sheena Ivengar and Mark Lepper, published a groundbreaking study about decision making, using of all things, jam! On one day, shoppers saw a table with 24 varieties of jams. On another day, only 6 varieties were …
Too much choice? What does MPF have to do with Jam? Read More »
2019 Investment performance builds real wealth. Or does it? 2019 was one of the best years on record for MPF members with the average investment return achieved by MPF Schemes being 12% p.a., over 4 times the annual rate of inflation. 12% is a significant result with real wealth created in 2019. With total MPF …
Coronavirus doesn’t mean your savings need a facemask Working from home, avoiding public spaces and self-quarantine rules are bringing Hong Kong to a grinding halt. Indeed, the Hong Kong government is forecasting Hong Kong’s largest budget deficit – ever! But just because the city stops doesn’t mean we stop managing our own financial future. Indeed …
Professional footballer considers Mercedes before buying an MPF It’s not as flashy but one Hong Kong international footballer explains why he chose MPF over a Mercedes. Chris Chung is a Hong Kong international under 23 footballer who currently plays professionally with Kwoon Chung Southern FC in the Hong Kong Premier League. While outsiders may believe …
Why won’t my MPF broker give investment advice and what can I do about it? It’s technical and it’s complicated, but it’s important to understand and understanding will help you make better investment decisions for your retirement. So let’s attempt to deconstruct the technicalities. In very simple terms, your broker, subject to fulfilling relevant requirements, …
Why won’t my MPF broker give investment advice and what can I do about it? Read More »
2020 has not been a year for faint hearted investors. After a strong start, markets have been hit hard by the ongoing coronavirus pandemic. Those who believed things would get worse and tried to “market time” by switching from equities during the height of the uncertainty, have locked in losses which may take years to …
Four months shy of its 20th birthday Hong Kong’s Mandatory Provident Fund (MPF) system broke the $1 trillion threshold for the first time ever. This translates to an average account balance of $231,000 for each of Hong Kong’s 4.3 million MPF members. Anyway one looks at $231,000, it’s a meaningful foundation to build retirement wealth. …
According to the Mandatory Provident Fund Schemes Authority (MPFA), the MPF System in Hong Kong was launched as a mandatory, privately managed, fully funded contribution scheme in December 2000. What you may not be aware is that while mandatory MPF contributions are made by both the employees and the employers, the obligation to choose an …
Why my HR know nothing about MPF? What can I do? Read More »
