Why bother? JL is one of the best planners in terms of long term cashflow. His experience serves as a valuable “upper bound” among the Chinese peers.

Junli bought multiple retirement plans. One of them requires 3k/M premium! He stressed that late payment has consequences … I said this commitment is a heavy burden. He agreed. He is working to “pay down” the outstanding until the plan can “take care of itself”.

He is sacrificing current income for retirement income. I worry that he may have too much retirement income.

I suggested that once his insurance plans start paying out, he would not need to worry about cash-flow (something like ffree). He replied that in theory there’s still the medical situation where entire savings get wiped out.

Therefore, I feel he is not as carefree as I imagined.

— I asked about his college funding. He doesn’t aim at private college and still wants to save enough for his daughter’s college but may need a student loan. I feel his savings might be enough, given the double income and his high savings rate.