What jobs available after retirement ?

[Throttle2]

Firesale?

Heng not.

[Vratenza]

Heng not.

 

haiz....means no bargain to hunt...

[Ktglfc]

I just sell my Rolexes to survive month by month.

Plse help by buying when you see me selling.

 

Thank you

 

Hope you are doing fine Bro ...

 

I cannot help as I don't have enough $ to buy, and also no interest in watches ....

Hopefully you able to sell your watches ...

[Vratenza]

Hope you are doing fine Bro ...

 

I cannot help as I don't have enough $ to buy, and also no interest in watches ....

Hopefully you able to sell your watches ...

 

 

I think his survival month to month means "his need for newer and better watch models"

not literal.

[Throttle2]

I think his survival month to month means "his need for newer and better watch models"

not literal.

First of all i dont like newer models

if need newer and better models i will just buy.

No need to sell at all.

 

Now selling to buy groceries and pay for petrol and daily expenses

[Vratenza]

First of all i dont like newer models

if need newer and better models i will just buy.

No need to sell at all.

 

Now selling to buy groceries and pay for petrol and daily expenses

 

I assume no need to make space also?

[Throttle2]

I assume no need to make space also?

Huh? Make space for what?

I am selling becos i am jobless and have no income

Dont disturb lah.

 

Support a bit, buy a Rolex from me

[Vratenza]

Huh? Make space for what?

I am selling becos i am jobless and have no income

Dont disturb lah.

 

Support a bit, buy a Rolex from me

 

wait, i go list my casio for sale on carousell first.

 

Got cash liao I sarpork you ok.

[tenyawph]

CORRECTION - HIGHLIGHTED IN RED AND STRIKE-OUT

 

 

When you hit 55 years old, the interest rates for your CPF accounts (Info from CPF Document: Your Assurance in Retirement, accurate as at 15 Mar 2016) are as follows:

 

CPF balances (Ordinary account, Special account, medisave account, retirement account)

First $30K - 6% (p.a.)

Next $30K - 5% (p.a.)

Amounts above $60K - 4% (p.a.)

 

If we talk about risk-free investment, nothing beats or matches the CPF's rate (applicable for CPF members hitting 55 years of age).  In any case, if there is an emergency, you can apply to withdraw your CPF savings any time later.

 

I need to correct an error on my part.  The 4% to 6% interest is for the Special, Medisave and Retirement account only (as stated in a footnote).  For the Ordinary account, the interest is still 2.5%, if the combined balances in your Medisave and Retirement accounts have exceeded $60K.  This has been clarified with an officer in CPF board this morning. 

 

Therefore, unless you think you can get a better rate of return of more than 2.5% elsewhere, it is still better to keep it in the ordinary account, as you can withdraw from it anytime. 

 

[Showster]

Thanks. He who is willing to admit his mistake and learn from it continually is bound to become a general in good time.

 

CORRECTION - HIGHLIGHTED IN RED AND STRIKE-OUT

 

 

I need to correct an error on my part. The 4% to 6% interest is for the Special, Medisave and Retirement account only (as stated in a footnote). For the Ordinary account, the interest is still 2.5%, if the combined balances in your Medisave and Retirement accounts have exceeded $60K. This has been clarified with an officer in CPF board this morning.

 

Therefore, unless you think you can get a better rate of return of more than 2.5% elsewhere, it is still better to keep it in the ordinary account, as you can withdraw from it anytime.

[Showster]

Another thing I am really not sure is whether you can easily put in and take out from OA from 55-65.

 

You see, at 55, there is a wipeout event transferring all OA to SA leaving nothing for OA, unless you manage to lock them in other instruments.

 

At 55, the OA contribution from wages is very much lower. Supposing one earns less than $750, the OA at 55-60 is 13% of wages while from 60-65 is 7.5%. Supposing one earns more than $750, the corresponding wages is 12% and 3.5%. 

 

https://www.cpf.gov.sg/employers/employerguides/employer-guides/paying-cpf-contributions/cpf-contribution-and-allocation-rates

 

Supposing your salary from 55-65 is fixed at $5,000 (for ease of calculation), you will be receiving $600 p.m. at 55-60 years old and $175 p.m. at 60-65. RA is still untouchable till 65.

 

Supposing your salary from 55-65 is fixed at $10,000 (for ease of calculation), you will be receiving $1,200 p.m. at 55-60 years old and $350 p.m. at 60-65.

 

O.A. build up will be quite little to be honest, based on the figures ten or twenty years later.

 

The last thing I am really not sure is whether OA can be so easily withdrawn in cash month by month or year by year. At the moment, it looks like can be done.

 

"Q What is the amount that I can withdraw from my CPF account at my next withdrawal if I have made a withdrawal at 55?

 

A

For members who turned 55 from 2013, they can withdraw the balances in their Special Account and Ordinary Account, if they have the Full Retirement Sum (FRS) or Basic Retirement Sum (BRS) with sufficient property charge/pledge in their Retirement Account."

 

 

 

CORRECTION - HIGHLIGHTED IN RED AND STRIKE-OUT

 

 

I need to correct an error on my part.  The 4% to 6% interest is for the Special, Medisave and Retirement account only (as stated in a footnote).  For the Ordinary account, the interest is still 2.5%, if the combined balances in your Medisave and Retirement accounts have exceeded $60K.  This has been clarified with an officer in CPF board this morning. 

 

Therefore, unless you think you can get a better rate of return of more than 2.5% elsewhere, it is still better to keep it in the ordinary account, as you can withdraw from it anytime. 

 

Edited May 23, 2016 by Showster

[Spring]

Another thing I am really not sure is whether you can easily put in and take out from OA from 55-65.

 

You see, at 55, there is a wipeout event transferring all OA to SA leaving nothing for OA, unless you manage to lock them in other instruments.

 

At 55, the OA contribution from wages is very much lower. Supposing one earns less than $750, the OA at 55-60 is 13% of wages while from 60-65 is 7.5%. Supposing one earns more than $750, the corresponding wages is 12% and 3.5%. 

 

https://www.cpf.gov.sg/employers/employerguides/employer-guides/paying-cpf-contributions/cpf-contribution-and-allocation-rates

 

Supposing your salary from 55-65 is fixed at $5,000 (for ease of calculation), you will be receiving $600 p.m. at 55-60 years old and $175 p.m. at 60-65. RA is still untouchable till 65.

 

Supposing your salary from 55-65 is fixed at $10,000 (for ease of calculation), you will be receiving $1,200 p.m. at 55-60 years old and $350 p.m. at 60-65.

 

O.A. build up will be quite little to be honest, based on the figures ten or twenty years later.

 

The last thing I am really not sure is whether OA can be so easily withdrawn in cash month by month or year by year. At the moment, it looks like can be done.

 

"Q What is the amount that I can withdraw from my CPF account at my next withdrawal if I have made a withdrawal at 55?

 

A

For members who turned 55 from 2013, they can withdraw the balances in their Special Account and Ordinary Account, if they have the Full Retirement Sum (FRS) or Basic Retirement Sum (BRS) with sufficient property charge/pledge in their Retirement Account."

 

From my understanding, on your 55th birthday, the funds in your OA will be transferred to your RA if you do not meet the prevailing minimum sum ie your SA balances insufficient and hence OA funds required. They will transfer all the needful bar $5k to meet the shortfall and if still short no further action required.

 

You can withdraw the OA balances after the above requirements are fulfilled at anytime I'm told with some processing time but there is no fixed date nor time to do this.

[Showster]

Thanks for clarifying.

 

So it ultimately is 2.5% interests p.a. for amounts higher than 20K with flexibility to withdraw any time provided the respective sums are met.

 

From my understanding, on your 55th birthday, the funds in your OA will be transferred to your RA if you do not meet the prevailing minimum sum ie your SA balances insufficient and hence OA funds required. They will transfer all the needful bar $5k to meet the shortfall and if still short no further action required.

 

You can withdraw the OA balances after the above requirements are fulfilled at anytime I'm told with some processing time but there is no fixed date nor time to do this.

[Spring]

Thanks for clarifying.

 

So it ultimately is 2.5% interests p.a. for amounts higher than 20K with flexibility to withdraw any time provided the respective sums are met.

 

 

Yes sir! Frankly, most working 55 year olds I know leave it with CPF cos 2.5% with flexibility to withdraw anytime and at almost no risk is quite unbeatable to be honest.

 

Taking out hard earned money and dabbing in investments you are not familiar with is risky in my view and problem is most of us do not have the discipline to stop when you make and worse still, try to recoup losses when you lose so either way is dangerous, my 2 cents.  

[Vratenza]

Unfortunately those who choose to withdraw are not savvy financially in the first place... and those money don't go into another investment vehicle... mostly going into pocket of PRC beer girls or People's Park "butterflies"

 

Yes sir! Frankly, most working 55 year olds I know leave it with CPF cos 2.5% with flexibility to withdraw anytime and at almost no risk is quite unbeatable to be honest.

 

Taking out hard earned money and dabbing in investments you are not familiar with is risky in my view and problem is most of us do not have the discipline to stop when you make and worse still, try to recoup losses when you lose so either way is dangerous, my 2 cents.  

 

[Spring]

Unfortunately those who choose to withdraw are not savvy financially in the first place... and those money don't go into another investment vehicle... mostly going into pocket of PRC beer girls or People's Park "butterflies"

 

Haha ya that's the other temptation which most men are vulnerable to!

 

One other observation I have is that some people, not having had so much money in their lives before, don't know how to handle this "sudden windfall" and spend unnecessarily on items they don't require and perhaps even treats and as they add up, so suddenly they find the "windfall" has shrank considerably!

 

Lesson here is that you need to manage your retirement funds wisely esp if you not working anymore and as for investments, know your risk appetite and act accordingly. Err on the side of caution for retirement funds as it's meant to last few decades.

[Meanmachine]

nite club gals wearing formal wear.

seriously they really looks pretty and knows how to wear.

 

 

that why sometimes i purposely go buy 1 pack of peanuts just to look see look see

 

 

   When handsome go Supermarket for moonlight shopping, either to oggle@chio bu or mamasan, ( the lady of the night has damn good taste & very streetwise  ) coz thy had seen many colours of wolf in sheep clothing . . . Men who pretends to be helpful / looking or merely, I think I had seen you somewhere do not work here anymore

 

   Buying peanuts in the middle of the night means,- Bo class, might as well get cashew nuts or ' Kai Sin Guo ' 

Good men do not spent time wondering in supermarket store ALONE. The lady will think otherwise.

 

   Tips: Walk your dog : Cute poodle / pets can create conversation, best if you dog can whisper sweet nothing to the night-clubs lady in Mandarin, Japanese or Korean languages. 

 

   Park your Vintage or Classic car outside the Supermarket entrance, so create attention-seeker, If parking warden comes along, just let them issue summon, this are small change to you.

 

   Caution: Keep your fingernails Short and trim at all times, It say a lot about one personality & personal hygiene

Smell Good and Fresh: Stay away from " Ciggies and Alcohol " 

 

Wear simple colour clothing, not loud or colourful design, Wear sneaker or covered shoe, No slippers or flip-flop

 

   Lastly, If the lady really likes you, one don't have to try harder than pleases the eyes, just bring along your brightest SMILE, it say a lot about YOU.

 

   Good Luck !

[Staff69]

bro

 

thank you for the advice

 

but i am a 101% chao beng through and through

 

words that usually associate with me are ..crude and unsophisticated......oh ya the grammer police loves me

Edited May 24, 2016 by Staff69