Hi Fellow Automated Millionaires,

I was reading the abovementioned article and to tell you the truth, I am quite shocked by this finding. It state:

Nearly half of comfortably well off Singapore residents - or 46 percent - have yet to start saving for their retirement.

I would have thought that after such a long period of time of education by the government and Financial planners, the result should be lower than 46 percent. I really hope that with the introduction of The Automated Millionaire, it can help more individuals to retire comfortably :) At the same time, what is more shocking is the amount of premium they are paying for insurance premiums! The Straits Times wrote:

Respondents were selected based on their ability to pay insurance premiums of S$2,000 a month. Most were earning S$8,000 to S$10,000 a month.

I really got to take the hat off those who sold them the insurance policies ;) S$2,000 insurance premium a month! That is at least 25percent of their monthly income! Outrageous! No wonder most of the affluent are not ready for retirement. This is why my Mentor always say...

You cannot buy too much insurance! You will only support the early retirement of whoever sold you the insurance policies!

That is why we strongly recommend a review of your current insurance policies to see if there is a need of restructure of their insurance policies so that you can use only about 10percent of your monthly income to get the maximum coverage :) And that is a key factor that one can become an Automated Millionaire!

Yours Sincerely,
Max Tay - The Automated Millionaire