Expert Advises Retirees to Adjust Investment Plans

[webfact]

 

by Na-ark Rojanasuvan

    

BANGKOK (NNT) - An advisor of TISCO Bank Public Company has indicated that Thailand will become a full-fledged aging society next year, while warning that most senior citizens are not financially prepared for it.

 

Nattakrit Laotaweesap, Head Of Wealth Advisory of TISCO Bank, reiterated that many people reaching retirement age in 2023 will likely face financial difficulties even with government support. He cautioned that these individuals could lead less fulfilling lives than they had hoped, especially with inflation pushing up commodity prices.

 

By the end of March, Thai inflation hit 5.73% - the highest in 13 years - which Nattakrit said has forced retirees to dip into their savings. People are also likely to face higher medical expenses at an increasing average rate of 8% annually.

 

Keep up to date with all things Thailand - Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe

 

The advisor is recommending that retirees consider “Megatrends Retirement Planning” to ensure their post-working age financial stability. The plan includes investment in megatrends, especially in future trends of technology such as cloud computing and cyber security businesses. He noted that Metaverse-related businesses also have immense growth potential.

 

Additionally, the plan calls for reducing financial risks by investing in specialized insurance coverage that pays a lump sum to help with high deductibles due to treatment for serious illnesses.

 

 

-- © Copyright NNT 2022-04-18

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

[4MyEgo]

I think this is a worldwide phenomenon. 

 

What's that old saying, the rich get richer, the poor get the picture.

[madmitch]

1 hour ago, webfact said:

The advisor is recommending that retirees consider “Megatrends Retirement Planning” to ensure their post-working age financial stability. The plan includes investment in megatrends, especially in future trends of technology such as cloud computing and cyber security businesses. He noted that Metaverse-related businesses also have immense growth potential.

And how many Thai over 60 would have a clue what this is all about? Not just Thais BTW.

 

Also most tech stocks have been a total disaster during the past few months. It may be a good time to buy, we may never see a bounce-back. Who knows?

[greeneking]

39 minutes ago, madmitch said:

And how many Thai over 60 would have a clue what this is all about? Not just Thais BTW.

 

Also most tech stocks have been a total disaster during the past few months. It may be a good time to buy, we may never see a bounce-back. Who knows?

Megatrends ha ha.

Mama noodles, fuel per litre, lottery tickets....

[Muhendis]

2 hours ago, madmitch said:

And how many Thai over 60 would have a clue what this is all about?

Millions I expect, but none in my village

[digger70]

5 hours ago, webfact said:

The advisor is recommending that retirees consider “Megatrends Retirement Planning” to ensure their post-working age financial stability.

That's good advise  But most  Normal Working people on low wages doin't even pay tax ,they only live from Day to Day if they doin't work they've got nothing. How in the name of Satan can they do Retirement Planning?

Retirement planning is only for people who can afford it .From looking around our Village there's no one . there's only food sellers and Rubber Tappers and a couple look after 2  cows .  one has a Tuk Tuk and a couple people are Factory workers . Not much Retirement planning done here.

[BritManToo]

6 hours ago, webfact said:

People are also likely to face higher medical expenses at an increasing average rate of 8% annually.

Odd as Thai citizens get free health care.

[lkn]

6 hours ago, webfact said:

The advisor is recommending that retirees consider “Megatrends Retirement Planning” to ensure their post-working age financial stability

Despicable! If you’re nearing retirement age (and have money to invest) you should not try to predict the next big thing, but rather put your money in safe diversified investments with low management fees, like a world index.