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#86: Retirement: Staying In Debt or Cashing Out, Downsizing & Legacy Planning
Manage episode 444684890 series 2936301
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Part two of ‘the winter personas’, the Jun Wei, George and Jesley focuses on whether retirees should fully pay off their property or maintain a loan to leverage cash flow. They examine the psychological burden of debt versus the benefits of low-interest rates, and how this decision impacts overall financial flexibility.
By comparing different approaches, they emphasise the importance of retirees having liquid assets for emergencies, travel, and lifestyle choices in retirement, while also reflecting on the need to stay active and engaged to avoid cognitive decline—which can be explored through downsizing.
And when it comes to legacy planning, how can retirees transfers to heirs while minimising taxes like Additional Buyer’s Stamp Duty (ABSD)? All these and more on this episode of NOTG!
Timestamps:
00:00 Intro
00:59 Alan & Justina introduction (Winter season)
04:19 Fully pay a property in your retirement age?
08:02 George's dream retirement life
08:52 Cash flow is king
11:54 All kids moving out and you stay in a landed
13:38 Advice for Alan & Justina
22:49 LTV dropped by 5%
25:27 Income cap for resale HDB?
26:36 Legacy planning
32:57 Retiring young
33:47 Jun Wei's dream retirement life
34:58 Wealthy and happy?
36:36 Different economy
39:39 Upcoming new personas
39:54 Buying a property with your sibling/friends
42:52 Closing thoughts
46:44 Outtakes
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