Associate Professor at Chulalongkorn University Pornanong Budsaratragoon recommends that people aim for a monthly post-retirement budget as a percentage of their monthly income. Photo: chiangraitimes.com Current figures indicate that the average civil servant retiree has enough to spend 70 pecent of their monthly income, with those entitled to social security at 40 percent. However, the average retiree outside the social security system, such as farmers and laborers, only has 20 percent of their monthly income available post retirement. Therefore, non-civil servants should begin investing as soon as possible. Those nearing retirement should begin to acclimate themselves to their post-retirement budget. Chairman of the Thai Bankers' Association, Kobsak Duangdee, suggested that if people save enough to account for 40 percent of their monthly income, their retirement savings will last them until they are 80 years old. Furthermore, people should consider investing in … [Read more...] about Bank of Thailand holds financial planning for retirement seminar
Investments for retirement income
VietNamNet Bridge – The rate of housing price in proportion to income of the Vietnamese is between 24.5 to 26.6, very high compared with other countries in the world. Most state employees can’t afford to buy a house just relying on theirsalary. A comparison with other regions in the world illustrates how high this rata is: 6.25 for South Asia, 4.14 for East Asia, 2.21 for Africa, 6.25 for Europe, the Middle East and North America and 2.38 for Latin America and the Caribbean. Nguyen Manh Ha, Chief of the Ministry of Construction’s Agency for Administration of Housing and Estate Market, explains that the rate indicates the proportion between the average price of a house in comparison with the annual income of each person. This means that state employees in Vietnam have to fast and save their salary for 24.5 to 26.6 years to be able to afford a house. According to the United Nations, people in the world need 3-4 working years on average to buy a house. Nguyen … [Read more...] about To buy a house, state employees have to fast for 24 years
VietNamNet Bridge – The housing and real estate market must be the market for consumption, not for seeking profit. It is necessary to create favorable conditions for groups of low income earners in to obtain accommodation and prevent speculation-for-profit of some groups. On November 26, an international workshop on housing and real estate market development was organized in Hanoi at which participants affirmed that the government plays a decisive role in the real estate market. Habibullah Khan from Singaporean Education Organization, advisor to the World Bank, stressed that the controlling the real estate bubble requires the hands of the government. He said that the global financial crisis, originating from the US, was caused by problems in the real estate market. The crisis led to the collapse of a series of banks. “The far too favorable conditions for providing loans led to the boom of the real estate market,” he said. It was the … [Read more...] about Real estate for consumption or investment for profit?
Conventional wisdom says you need to save $1 million for retirement.That target may be easy to remember, but it falls short of the true cost of what's required for post-career comfort. Longer life spans, the threat of inflation and the uncertain future of Social Security benefits make this long-touted savings advice inadequate for most, advisers say. Scottrade recently polled 226 registered investment advisers on the topic and found that 71% don't believe $1 million is enough for the average American family. Most said families need to save double, or more than triple, the amount. "Younger generations, especially, need to set their retirement goals higher than other generations and start saving as early as possible," says Craig Hogan, Scottrade's director of customer-relationship management and reporting. The survey solicited opinions about the current investment habits of Americans. Questions were broken down by generations to determine advisers' opinions on average investment goals in … [Read more...] about $1 million doesn’t cut it for retirement
The Hanoi Times - The Ministry of Construction has submitted to the government a list of sweeteners, including tax breaks it wants to offer property developers to invest in low-income housing. The proposal it sent on January 15 envisages repealing land use/lease charges for developers investing in public housing and allowing them to build 50 percent more on a square meter of land. Vietnam does not technically allow land ownership but grants land-use rights, which confer the same rights as freehold property. The proposal also seeks to scrap value-added tax on low-income housing and lower corporate income tax for developers to 10 percent. From January 1 this year, the corporate tax is 25 percent, down from 28 percent earlier. But in return, the proposal requires new urban areas and commercial housing projects on five hectares or more to set aside at least 10 percent of the constructed area for low-cost housing. The ministry also sought approval to allow it, the … [Read more...] about Ministry mulls incentives for developing low-income housing