I was recently inspired by a post from a Singaporean Stocks Investor, where he shared his experiences with helping his parents to be secure in their retirement. It reminded me of my own dad.
You see, why I am so hung up on insurance and financial planning is because my dad had so many problems with it.
We were an upper middle-class family, and I lived in private property for most of my childhood. Both my parents were graduates, which was a prestigious thing because so few could attend university at the time. They had white-collar jobs and earned a fairly good living.
Then the Asian financial crisis came in 1997. Both my parents were retrenched and had difficulty finding similar paying jobs. Luckily, within a few years, the condo we were living in got sold in an en bloc, and my family exited with close to a couple of million.