Noble Apex News

For most people in Hong Kong, a question that comes to mind about retirement is “do I have enough money to retire?”. Findings from a recent J.P. Morgan Asset Management survey revealed that people of different generations have varying levels of expectations. Millennials have set lower savings target for retirement compared with older adults. As of October 2019, Hong Kong people aged 30 to 40 estimated that they could retire by the age of 61, on average, and thought HK$3.6 million would be sufficient. In contrast, those aged 51 to 60 expected that they could retire at 64, and need HK$4.3 million - a difference of HK$700,000.

Big decisions such as college education, career progression, marriage, buying a home and raising a family all need financial support. And most people work hard to accumulate the wealth needed to help achieve their life goals. Generally, there are no hard and fast rules when it comes to investing. Some investors may study the most complex and deepest theories to gain insights into market trends, and seek potential opportunities for greater returns. Others could keep faith with a number of fundamental investing principles and strategies to help them achieve their financial goals.

Health care is one of the biggest expenses in retirement and the toughest to budget. How long will you live? What kind of care will you need? Where will prices be decades from now? If your insurance can’t cover everything, how much will you need to fork out of your own pocket? Even though engaging in healthy behaviors may keep our average costs lower over time, we cannot know what medical issues we may confront or how long we will live. A survey found that 76% of respondents were worried that health care costs in retirement will put a big strain on their retirement savings.

We are pleased to announce Noble Apex Wealth Ltd become one of Associate Firm of the Chartered Insurance Institute. The Chartered Insurance Institute is a professional body dedicated to building public trust in the insurance and financial planning profession. Through relevant learning, insightful leadership and an engaged membership to drive forward professional standards.

We are honored to be recognized by the Chartered Insurance Institute for our profession in the insurance industry. We will continue to provide a personalized "one-stop" financial and investment service with our expertise; We care for clients’ needs and provides comprehensive financial planning solutions and products to the best interest of our clients for their financial freedom.

Asian governments are taking steps to help cushion the financial impact of the pandemic. Some—like Australia and Malaysia—are lessening penalties for withdrawals of retirement assets and/or reducing mandatory contributions. The Hong Kong and Singapore governments are under pressure to allow withdrawals but are providing cash payouts and subsidies instead.