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Talking Point >>> Is your CPF enough for retirement?


Wt_know
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21 minutes ago, Voodooman said:

Not the world but the Beijing to Moscow trip via train. Probably eating instant noodles every day.

If you are ateenager roughing it out on a backpacking trip, ok lah.

if you worked you whole life only to retire amd go on a trip, dont do that lor....

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(edited)

Obviously  MCFers is a group of higher income people with some exceptions like T2 being at the extreme positive long end of the curve, but we must not forget that 50% of the household are getting less than 3k per month currently, they can barely meet their end needs, these are the people will have little cpf and cash left from month to to month,  letting alone saving for their retirement, as a results, they will have to heavily depend on cpf for life to live beyond 65. So while we can debate about 3k or 5k or 10k per month for retirement,  the real problem is not within this MCF Group of people 😅😅

Edited by Ct3833
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46 minutes ago, Ct3833 said:

Obviously  MCFers is a group of higher income people with some exceptions like T2 being at the extreme positive long end of the curve, but we must not forget that 50% of the household are getting less than 3k per month currently, they can barely meet their end needs, these are the people will have little cpf and cash left from month to to month,  letting alone saving for their retirement, as a results, they will have to heavily depend on cpf for life to live beyond 65. So while we can debate about 3k or 5k or 10k per month for retirement,  the real problem is not within this MCF Group of people 😅😅

I think you mean Average per household member is below $3K, not 50% of household earn below $3k. 

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On 4/3/2021 at 8:18 AM, Ct3833 said:

Obviously  MCFers is a group of higher income people with some exceptions like T2 being at the extreme positive long end of the curve, but we must not forget that 50% of the household are getting less than 3k per month currently, they can barely meet their end needs, these are the people will have little cpf and cash left from month to to month,  letting alone saving for their retirement, as a results, they will have to heavily depend on cpf for life to live beyond 65. So while we can debate about 3k or 5k or 10k per month for retirement,  the real problem is not within this MCF Group of people 😅😅

Not that bad lah. median household income is 9K+, only 10-20% of the household earn less than 3K.

image.thumb.png.2f5d0c5b676b64b850385c3a7c7cf0a0.png

 

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On 4/1/2021 at 9:09 AM, BoneStock said:

my kid already have thoughts of moving out on her own even though she's still single. 

You're blessed...my gal even though single has thoughts that I move out instead...😂

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19 minutes ago, mersaylee said:

You're blessed...my gal even though single has thoughts that I move out instead...😂

u doting father just like @Jamesc   with his MIL ......... so many similar situations 🤣

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27 minutes ago, mersaylee said:

You're blessed...my gal even though single has thoughts that I move out instead...😂

To a JB nursing home...?🤣🤣🤣

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34 minutes ago, TangoCharlie said:

To a JB nursing home...?🤣🤣🤣

Dont think she cares...but I don wan to be hui ge neighbour le...😁

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41 minutes ago, mersaylee said:

Dont think she cares...but I don wan to be hui ge neighbour le...😁

u liv in GCB , how we here can even afford 1 in your neighbourhood 

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(edited)
17 minutes ago, Enye said:

wah...sg no 5m cannot retire 😰

but mcf got so many retirees......means they all at least 5m and up 🤑

https://www.scmp.com/business/article/3128400/financial-freedom-costs-us4-million-hong-kong-second-only-london-data

🤣

CNA said $2K/mth can already .... muahahaha

no worries ... we got JB ... Hui Ge said one ... lol

2021-04-06_120948.jpg

Edited by Wt_know
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It depends, if one lives lean and mean, 2k is enough, 5k is comfortable, if one wants luxury retirement, 10k also not enough. 

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On 4/5/2021 at 11:12 AM, mersaylee said:

You're blessed...my gal even though single has thoughts that I move out instead...😂

Show her the title deed....whose name?🤣

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3 minutes ago, Kopites said:

Show her the title deed....whose name?🤣

Mine is still with HDB for safekeeping sake even though no more outstanding...

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Hypersonic
30 minutes ago, mersaylee said:

Mine is still with HDB for safekeeping sake even though no more outstanding...

ah gong says you are just a tenant, no need title deed

no outstanding means you are an outstanding tenant

🤣

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9 minutes ago, Enye said:

ah gong says you are just a tenant, no need title deed

no outstanding means you are an outstanding tenant

🤣

Agreed...that's why I neber bother... I'm so good to pay full and stay for free...hor?😅

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