Wt_know Supersonic December 12, 2012 Share 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 Link to post Share on other sites More sharing options...
Baphomet 3rd Gear December 12, 2012 Share 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 Link to post Share on other sites More sharing options...
Watwheels Supersonic December 12, 2012 Share 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 1 Link to post Share on other sites More sharing options...
13177 Hypersonic December 12, 2012 Share 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. Link to post Share on other sites More sharing options...
Speak_listen Neutral Newbie December 12, 2012 Share 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 ? Link to post Share on other sites More sharing options...
S4vtec 3rd Gear December 12, 2012 Share December 12, 2012 (edited) lump sum . divided equally amongst the spouse and children if not willed Edited December 12, 2012 by S4vtec Link to post Share on other sites More sharing options...
Arenz 2nd Gear December 12, 2012 Share 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. Link to post Share on other sites More sharing options...
13177 Hypersonic December 12, 2012 Share 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? Link to post Share on other sites More sharing options...
Speak_listen Neutral Newbie December 12, 2012 Share 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 Link to post Share on other sites More sharing options...
Baphomet 3rd Gear December 12, 2012 Share 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? Link to post Share on other sites More sharing options...
EricTeh Neutral Newbie December 12, 2012 Share 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 Link to post Share on other sites More sharing options...
Lala81 Hypersonic December 12, 2012 Share 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. Link to post Share on other sites More sharing options...
Wt_know Supersonic December 12, 2012 Author Share 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 Link to post Share on other sites More sharing options...
Freestylers09 5th Gear December 12, 2012 Share December 12, 2012 cash la.. Link to post Share on other sites More sharing options...
Baphomet 3rd Gear December 12, 2012 Share 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.. Link to post Share on other sites More sharing options...
Alpha78 6th Gear December 12, 2012 Share 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. Link to post Share on other sites More sharing options...
Baphomet 3rd Gear December 12, 2012 Share 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? Link to post Share on other sites More sharing options...
Mustank Hypersonic December 12, 2012 Share 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 Link to post Share on other sites More sharing options...
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