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

[Beanoyip]

2 hours ago, Voodooman said:

But you are collecting rental income? 

Yes, but it isn't much of a profit.. after deducting all sort of fees/taxes 

[Lala81]

On 4/7/2021 at 9:08 AM, Kopites said:

I heard from my coffee mate that in those Chiang Rai rural area S$40k can get one a landed with small pool. Laying  water pipes/elect cable which can stretches for KM distance. 

I reckon he has another family up there with so much on hand info.

🤔

He did said one hour on bike to the nearer Big C. So can picture how rural those place. 🤔

Anyway, merely for info. Anyone interested to set up a retirememt home  can ask goggle for help. 😄

hmm there is a PRC living in chiangmai that makes video (because his B&B kana whacked by covid). Watched quite a number of his videos last year.
Can learn about thai property. condo and landed. 

just search "sean chiangmai" on youtube.

 

 

[Ct3833]

Olf article...Is CPF under-appreciated?

CPF is a compulsory savings plan for working Singaporeans and permanent residents. I view it as a good thing although not everyone can appreciate forced savings as much as I do. I used to be a spendthrift in my younger days and found it challenging to put aside savings, often spending my ‘savings’ after just a short while. Hence, compulsory saving is good for spendthrifts like me to ensure I have enough for retirement. 

 

https://www.areyouready.gov.sg/YourInfoHub/Pages/Views-Is-CPF-under-appreciated-DrWealth.aspx

 

In my opinion, it is a good tool to force people to save, it also provides decent interest while keeping the pilrinciple safe,  provided the government continue to safekeep our money. The talks about letting me manage my own money is bulls**t , many will not be able to manage their own saving.

[Dafansu]

55 minutes ago, Ct3833 said:

Olf article...Is CPF under-appreciated?

CPF is a compulsory savings plan for working Singaporeans and permanent residents. I view it as a good thing although not everyone can appreciate forced savings as much as I do. I used to be a spendthrift in my younger days and found it challenging to put aside savings, often spending my ‘savings’ after just a short while. Hence, compulsory saving is good for spendthrifts like me to ensure I have enough for retirement. 

 

https://www.areyouready.gov.sg/YourInfoHub/Pages/Views-Is-CPF-under-appreciated-DrWealth.aspx

 

In my opinion, it is a good tool to force people to save, it also provides decent interest while keeping the pilrinciple safe,  provided the government continue to safekeep our money. The talks about letting me manage my own money is bulls**t , many will not be able to manage their own saving.

Used to have CPF contributions from employer. Find it really a good scheme after I became self-employed with no contribution 🤣. Now I just contribute myself as long got some spare cash. Good as forced savings for retirement and leverage on the relatively good interest rates.

[Ct3833]

9 hours ago, Dafansu said:

Used to have CPF contributions from employer. Find it really a good scheme after I became self-employed with no contribution 🤣. Now I just contribute myself as long got some spare cash. Good as forced savings for retirement and leverage on the relatively good interest rates.

Boss level liao, no need CPF lah.😷😷😷

[Dafansu]

13 hours ago, Ct3833 said:

Boss level liao, no need CPF lah.😷😷😷

not all self-employed earning big money. The more u earn the more one tends to spend. 

[Sdf4786k]

On 4/1/2021 at 8:08 PM, Wt_know said:

must listen to uncle advice hor 

with his moolah and super duper huge landed ... definitely not your $2K per month retirement lifestyle hor  

I actually know this guy .. works at a bank at CBP before retiring..

Edited April 16, 2021 by Sdf4786k

[Throttle2]

32 minutes ago, Sdf4786k said:

I actually know this guy .. works at a bank at CBP before retiring..

Many people work in banks in Singapore lor....

from the video, he doesnt have much liquidity..  Best option is to sell the house and dowgrade in due course.  Luckily its a landed house not hdb

[Sdf4786k]

32 minutes ago, Throttle2 said:

Many people work in banks in Singapore lor....

from the video, he doesnt have much liquidity..  Best option is to sell the house and dowgrade in due course.  Luckily its a landed house not hdb

Sell house got seller stamp duties.. then buy second hand got stamp duties again.. can a Pte property guy buy the 30 year lease hold unit n not pay the additional taxes from the first purchase of HDB that he cash out? 

[Throttle2]

9 minutes ago, Sdf4786k said:

Sell house got seller stamp duties.. then buy second hand got stamp duties again.. can a Pte property guy buy the 30 year lease hold unit n not pay the additional taxes from the first purchase of HDB that he cash out? 

Stamp duties very small only lah. 

[Sdf4786k]

2 hours ago, Throttle2 said:

Stamp duties very small only lah. 

when there is no longer your personal ATM that provide 400k a year. Even 120k sstamp duty is alot of money

[Throttle2]

16 minutes ago, Sdf4786k said:

when there is no longer your personal ATM that provide 400k a year. Even 120k sstamp duty is alot of money

Even if its a lot regardless of amount, when have to sell for liquidity means have to sell lor.   🤣😂  

if not got landed house still expect tax payers to bear the cost? 

[Voodooman]

2 hours ago, Sdf4786k said:

Sell house got seller stamp duties.. then buy second hand got stamp duties again.. can a Pte property guy buy the 30 year lease hold unit n not pay the additional taxes from the first purchase of HDB that he cash out? 

Where got sellers stamp duties? He probably bought his landed donkey's years ago.

[Wt_know]

12 hours ago, Voodooman said:

Where got sellers stamp duties? He probably bought his landed donkey's years ago.

even got simi duties, lawyer fees, transaction fees, etc - can simply build into the selling price la

it's the buyer who pays for all these ... demand vs supply ....  

Edited April 17, 2021 by Wt_know

[Weez911]

On 4/11/2021 at 1:37 PM, Ct3833 said:

In my opinion, it is a good tool to force people to save, it also provides decent interest while keeping the pilrinciple safe,  provided the government continue to safekeep our money. The talks about letting me manage my own money is bulls**t , many will not be able to manage their own saving.

Cpf is over-rated. I have no cpf, only have the mandatory medisave. My AIA retirement plan gives me IRR slightly above 4% annually, and it was tailored to my need. No 2.5% OA and 4% SA and cap nonsense. 

I don't need the govt to tell me what to do with my own retirement money.

[TangoCharlie]

13 minutes ago, Weez911 said:

Cpf is over-rated. I have no cpf, only have the mandatory medisave. My AIA retirement plan gives me IRR slightly above 4% annually, and it was tailored to my need. No 2.5% OA and 4% SA and cap nonsense. 

I don't need the govt to tell me what to do with my own retirement money.

I don't know about irr. But my aia 21 year endowment plan when matured, gave a 2.3% yield p.a.

Much lower than the projection when I first bought it.

Edit: cpf has its uses...there is no free lunch

Edited April 17, 2021 by TangoCharlie

[Weez911]

36 minutes ago, TangoCharlie said:

I don't know about irr. But my aia 21 year endowment plan when matured, gave a 2.3% yield p.a.

Much lower than the projection when I first bought it.

Edit: cpf has its uses...there is no free lunch

Endowment plans have other features that's why your yield is lower? There are also endowments at 4+%. Since we are talking about CPF here we should compare apple to apple (annuities). What is the name of your endowment plan and what was the initial protection?

Edited April 17, 2021 by Weez911

[TangoCharlie]

26 minutes ago, Weez911 said:

Endowment plans have other features that's why your yield is lower? There are also endowments at 4+%. Since we are talking about CPF here we should compare apple to apple (annuities). What is the name of your endowment plan and what was the initial protection?

The yield computed took out what went for protection. These plans were sold as forced savings plan then. So I'm comparing to cpf interest rates which I think is fair.

The plan was called 21 year special modified anticipated endowment.

The earliest projection on my record (7 years after I bought) was almost 40% more than the actual maturity value.