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The best way to prepare for retirement is to use less CPF $$


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Turbocharged

 

Pitch tents needs to apply permit leh :D

 

Err.. where is the best place to pitch tents? Sembawang Park? East Coast Park? Changi Park?

Must find a secluded place, so that they won't come ka-chiao us :D

Easy coast too pack. I think west coast is good.

Actually do everyone here wipe out the cpf every month on housing???

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Obviously LSS does not have a day in his adult life being poor.

Even during my time 20 years ago, when HDB flats are still cheap, I had to clear all my wife and my CPF OA and I can't imagine currently how these young couples can afford theirs with more expensive flats.

 

So to him is newly wed couples should only go buy 3-rm flat, have 3 kids and then save money in CPF and then go buy Condo ?

 

It is indeed stressful to be a Sporean male, with 2 yrs late in his career who hopes to get married before 30yo.

Why are our future generation marrying in their mid 30s ? you can blame the times are changing, but who made that paradigm shift ?

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Supercharged

yeah... i was reading the news article this morning and i find that i am so ENLIGHTENED by his WISHDOM~!

oh wow...
maciam like saying, if you want to save more on your utilities, dun use them.

or like if you want to save more on transport, walk to your destination.

duh...
or better yet, to reduce medical bills, stay healthy~!

 

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Pitch tents needs to apply permit leh :D

 

Err.. where is the best place to pitch tents? Sembawang Park? East Coast Park? Changi Park?

Must find a secluded place, so that they won't come ka-chiao us :D

Pitch tent, use public toilet to bathe,

everyday wake up and sleep to see the sun rise and sun set, I think better than stay HDB, see your neighbour toilet window or wall only.

 

2 things come to my mind when i read this article

 

1. he wants us to use cash instead of cpf to buy hdb

 

2. he doesn't want us to use cpf for other investments... keep the cpf money intact so we can "enjoy" the 2.5% interest

 

both are jiao wei

he maybe want all of you don't touch CPF marnie so that the 2 blackholes can get constant cash flow to use...

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Pitch tents needs to apply permit leh :D

 

Err.. where is the best place to pitch tents? Sembawang Park? East Coast Park? Changi Park?

Must find a secluded place, so that they won't come ka-chiao us :D

Pitch tent use to cost $16-20/night. Not sure about now. So its not cheap also.

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(edited)

ban use CPF on housing? muahahahaha

BTO ... $400k-$500k how to sell?

EC ... $800k-$1M how to sell?

 

will you kill the golden goose that lay golden eggs or bite the hand that feed you?

 

agree... ban use of CPF on housing

 

and give 80% discount on current HDB BTO pricing

 

does PAP have the political will to push through this bitter medicine?

 

:D

 

Edited by Wt_know
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Turbocharged

Obviously LSS does not have a day in his adult life being poor.

Even during my time 20 years ago, when HDB flats are still cheap, I had to clear all my wife and my CPF OA and I can't imagine currently how these young couples can afford theirs with more expensive flats.

 

So to him is newly wed couples should only go buy 3-rm flat, have 3 kids and then save money in CPF and then go buy Condo ?

 

It is indeed stressful to be a Sporean male, with 2 yrs late in his career who hopes to get married before 30yo.

Why are our future generation marrying in their mid 30s ? you can blame the times are changing, but who made that paradigm shift ?

I cannot imagine how one Is willing to buy a flat that wipe out it's cpf totally, most of my friend around me make it a effort to ensure it only wipe out 60% of our OA per month. And we base on that rate as our budget for housing.

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(edited)

in the new era ... not just wipe out OA monthly contribution ...

every month still need to top up cash in order to service loan ...

and still proudly says ... top up few hundreds nia ... ok la

 

I cannot imagine how one Is willing to buy a flat that wipe out it's cpf totally, most of my friend around me make it a effort to ensure it only wipe out 60% of our OA per month. And we base on that rate as our budget for housing.

 

Edited by Wt_know
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Turbocharged

One does need to empty the OA first before getting a HDB loan, at least that's what happened when I was getting a new flat many years back.

 

The subsequent monthly repayment is up to the couple's risk appetite, after factoring in other elements such as loan period, etc.

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One does need to empty the OA first before getting a HDB loan, at least that's what happened when I was getting a new flat many years back.

 

The subsequent monthly repayment is up to the couple's risk appetite, after factoring in other elements such as loan period, etc.

 

Yup, all wiped out. That's why some people "invest" JUST before buying their house. [laugh]

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aiya ... just buy some blue chip like SIA, DBS, UOB and after that sell and return the $$ to OA for servicing loan lor [thumbsup]

but the amount can be used for investment is limited la ... unlike housing can wipe out all [laugh]

 

 

Yup, all wiped out. That's why some people "invest" JUST before buying their house. [laugh]

 

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Before that, lagi best, can withdraw 50% profits. I think some people red eyes..... It was banned after that.

 

aiya ... just buy some blue chip like SIA, DBS, UOB and after that sell and return the $$ to OA for servicing loan lor [thumbsup]

but the amount can be used for investment is limited la ... unlike housing can wipe out all [laugh]

 

 

 

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(edited)

actually there is a huge "misconception" that worrying me

 

people feel that wipe out the cpf to buy property is better than leaving the money in cpf because cpf give low interest but property price skyrocketing with enormous capital gain

 

they never think of the $1.5M mickey mouse 99LH condo or $600K hdb value can drop as much as 20% 30% ...

 

at the end of the day ... they risk gambling away their cpf instead of leaving the money in cpf that hearsay immune from global financial crisis

 

too big to fail ...

Edited by Wt_know
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I cannot imagine how one Is willing to buy a flat that wipe out it's cpf totally, most of my friend around me make it a effort to ensure it only wipe out 60% of our OA per month. And we base on that rate as our budget for housing.

I was told by my younger colleague that it is compulsory now to wipe out all CPF OA money to reduce the Housing loan.

Whether this requirement still applies now I dunno.

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Consperm + Chop.

 

Mine was totally wiped out 10+ years ago.....

 

Before signing S&P agreement, withdrew some for investment. :D

 

I was told by my younger colleague that it is compulsory now to wipe out all CPF OA money to reduce the Housing loan.

Whether this requirement still applies now I dunno.

 

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Supersonic

It's the same sheety story of locking up your cpf and not paying you from another angle.

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Supercharged

I cannot imagine how one Is willing to buy a flat that wipe out it's cpf totally, most of my friend around me make it a effort to ensure it only wipe out 60% of our OA per month. And we base on that rate as our budget for housing.

 

high income earner spotted~! [laugh]

 

60%?!?

kawan, with a $2000 salary, that is not even enough for the installment for a 3 room flat today lah.

and that is using 2 x salary to service the loan leh.

60%... wow... pipe dream for many.

 

at the kinda exorbitant prices today (even direct from HDB), getting a 4 room, if can stay within the contribution without having to fork out cash to service the loan, tao cio until bak mi mi liow loh~! [laugh]

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(edited)

even salary is $25K per month ...

CPF contribution is capped at $1,000 (employee) + $800 (employer) = $,1800 only leh

 

buy within means ... if 60%-70% CPF monthly contribution can only support 3 room flat then buy 3 room flat

if price is $500K then go find $300k at ulu ulu place

low incomer ... govt said will come in to help ... $1K salary can buy BTO liao

 

everyone want to buy flat at redhill, tiong bahru, queenstown, toa payoh, amk, bishan MRT ... but not everyone can afford it

 

 

Edited by Wt_know
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