At 65, when I set aside ERS for cpf-life, I would confront an essential question:

Q: as I grow more fragile and risk-averse, which assets are best suitable as legacy for my children, knowing that they may need to liquidate or manage these assets?

Will the heirs be too young to manage some assets (either too liquid or too complicated)? When I pass on my kids would be mature enough.

— inflation .. Even though SGD inflation has been well managed, legacy planning needs more caution against long-term inflation. My kids may live in another country. Even SGD inflation may worsen in 50Y.
— commercial_annuity .. inflation sensitive 🙁
🙂 payout is reliable
🙂 surrender value grows
— cash is the easiest but inflation-sensitive
— stocks — relatively easy to manage
— gold: physical coins or bars
My kids need to know how to store them. Perhaps use a gold vault.

Long-term appreciation is more proven.
— gold: structured products backed by some companies
— HDB unit
I trust the Singapore system. However, make sure the remaining lease is adequate unless location is excellent.

If remaining lease is, say, 30Y when I pass on at age 96, I think my kids (in their 50’s) can still liquidate it or rent it out for decades.
— U.S. properties
The U.S. system is also fairly mature and efficient.
— SEA properties — hopefully my kids will be old enough to manage them through/despite the imperfect local “systems”.