Wt_know 57,681 Supersonic December 12, 2012 (edited) Is your CPF enough for retirement? i like one caller said ... since the panel suggests that the onus lies on the cpf holder to manage their finances and be prudence in order to have enough money for retirement then return cpf money to us ... let us manage our own money .... no point to have cpf ... since cpf is not enough for retirement ... lolz anyway, i support cpf scheme which is a national scheme to "force" people to save up but the return generated in cpf is too low to offset the rise of cost of living and not to mention the OA is almost depleted for housing. final vote result Edited December 12, 2012 by Wt_know ↡ Advertisement Share this post Link to post Share on other sites
Baphomet 277 3rd Gear December 12, 2012 (edited) CPF is only good for my kid when I die. she gets it in cash. I do not think i will ever see "MY SAVINGS" when they keep shifting up the minimum sum and withdrawal age. Edited December 12, 2012 by Baphomet Share this post Link to post Share on other sites
Watwheels 37,497 Supersonic December 12, 2012 (edited) The question is as good as how much is enough. It will never be enough whatever the amount. But it's better dan nothing. It's a matter of perspective. Anyway when I die I can't grab as much as I can to go with me. With too much left, children will fight over it. Might as well having some amount will be good enough. Edited December 12, 2012 by Watwheels Share this post Link to post Share on other sites
13177 40,753 Supersonic December 12, 2012 There is no fixed amount on how much is enough. Money is always not enough, nobody will find their money is enough. Share this post Link to post Share on other sites
Speak_listen 5 Neutral Newbie December 12, 2012 CPF is only good for my kid when I die. she gets it in cash. I do not think i will ever see "MY SAVINGS" when they keep shifting up the minimum sum and withdrawal age. anyone experience, when the parent die, the children (example only 1 child) get cash from the parent cpf? in lump sum or installment ? Share this post Link to post Share on other sites
S4vtec 403 3rd Gear December 12, 2012 (edited) lump sum . divided equally amongst the spouse and children if not willed Edited December 12, 2012 by S4vtec Share this post Link to post Share on other sites
Arenz 112 2nd Gear December 12, 2012 Obviously not enough, as most of our CPF is tied to the house. Unless we sell the house at a high price and retire in a developing country. But, CPF is one additional source of income stream at retirement, be it CPF Life or other annuity. We would also need other income streams, eg. dividends, rentals, filial children coffee money, etc. To me, best way is to continue to get a small income from doing something you like and not because of the pay. Share this post Link to post Share on other sites
13177 40,753 Supersonic December 12, 2012 lump sum . divided equally amongst the spouse and children if not willed Must inform the cpf in order to get the money? Or cpf automatic will know? Share this post Link to post Share on other sites
Speak_listen 5 Neutral Newbie December 12, 2012 lump sum . divided equally amongst the spouse and children if not willed anyone experience how long the process? coz ever here takes very long (more then a year?) for the process complete Share this post Link to post Share on other sites
Baphomet 277 3rd Gear December 12, 2012 anyone experience, when the parent die, the children (example only 1 child) get cash from the parent cpf? in lump sum or installment ? at the moment its still full payment in cash. In future.. who knows what they will come up with? Share this post Link to post Share on other sites
EricTeh 4 Neutral Newbie December 12, 2012 CPF is only good for my kid when I die. she gets it in cash. I do not think i will ever see "MY SAVINGS" when they keep shifting up the minimum sum and withdrawal age. that is where you are COMPLETELY WRONG your kids will not SEE CASH but will roll over to their CPF account like that also can how to enjoy the fruits of our hardwork when we are old 1 Share this post Link to post Share on other sites
Lala81 152,512 Hypersonic December 12, 2012 It's enforced savings for the low-mid income group. I've always supported it. Pay for your pigeon hole lor. At the very least. Share this post Link to post Share on other sites
Wt_know 57,681 Supersonic December 12, 2012 (edited) that's one of the guest said ... do not under estimate the aspiration and urge want to use the cpf money to buy the biggest (aka most expensive) property the money is there ... can see but cannot touch .... LOL It's enforced savings for the low-mid income group. I've always supported it. Pay for your pigeon hole lor. At the very least. Edited December 12, 2012 by Wt_know Share this post Link to post Share on other sites
Freestylers09 1,133 5th Gear December 12, 2012 cash la.. Share this post Link to post Share on other sites
Baphomet 277 3rd Gear December 12, 2012 It's enforced savings for the low-mid income group. I've always supported it. Pay for your pigeon hole lor. At the very least. not least..thats all we can do.. Share this post Link to post Share on other sites
Alpha78 2,648 6th Gear December 12, 2012 that's one of the guest said ... do not under estimate the aspiration and urge want to use the cpf money to buy the biggest (aka most expensive) property the money is there ... can see but cannot touch .... LOL That, is attributed to the people who have realized the political risk of keeping your money with CPF. By maintaining a healthy OA balance, yet by the time one is due to retire, no one knows what changes to the rules and what negative effects they have on your income stream from CPF. Based on that notion, the easiest way to mitigate the risk, is to use as much of your OA to buy property, without even meeting the minimum sum in CPF at 55. At least you have a roof over your head. Share this post Link to post Share on other sites
Baphomet 277 3rd Gear December 12, 2012 That, is attributed to the people who have realized the political risk of keeping your money with CPF. By maintaining a healthy OA balance, yet by the time one is due to retire, no one knows what changes to the rules and what negative effects they have on your income stream from CPF. Based on that notion, the easiest way to mitigate the risk, is to use as much of your OA to buy property, without even meeting the minimum sum in CPF at 55. At least you have a roof over your head. lets say u reach the withdrawal age. and u sell your flat.. the money still must go back to cpf account? Share this post Link to post Share on other sites
Mustank 102,237 Hypersonic December 12, 2012 That, is attributed to the people who have realized the political risk of keeping your money with CPF. By maintaining a healthy OA balance, yet by the time one is due to retire, no one knows what changes to the rules and what negative effects they have on your income stream from CPF. Based on that notion, the easiest way to mitigate the risk, is to use as much of your OA to buy property, without even meeting the minimum sum in CPF at 55. At least you have a roof over your head. Use CPF buy property got 4 big advantage: 1) Capital appreciation of property > 2.6% OA rate 2) You retire already, can rent out your HDB / property and move in stay with your kids = Passive Income 3) You buy property today, you enjoy today, whether in the form of self stay or rent out. OA withdrawal policy is based on prevaling policy at that time when you old 4) Rental > 2.6 OA rate ↡ Advertisement Share this post Link to post Share on other sites
