An annuity is supposed to help fund our retirement. So, I should be looking at getting a bigger payout, if possible, and not a smaller one.
Some might tell me that this is a Western idea.
OK, then, how did this Chinese saying come about?
Bad AK! Bad AK!
Now, for some numbers.
Following my last blog on annuity rates, if we were to choose the CPF Life Basic Plan in order to possibly leave more money behind when we die, the annuity rate is approximately 7.16% (i.e. $991 x 12 /$166,000)…