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

[Mllcg]

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

 

its cash -.- i have first hand experience

[Mllcg]

The current system encourages you to maximise the use of your CPF on property, to buy the biggest house you can get.

 

It distorts the market a little bit, but more to the point, you can't "spend" a house. If all you want to get the maximum benefit from your CPF today, then you will use it for a condo so that you feel like you are getting "your"money, while it may well be more prudent to stay in HDB and then have cash for retirement.

 

I think also that the way it is structured adds into this idea of high property ownership in Singapore, which is a little misleading when it comes about due to compulsory savings

 

use CPF to buy a HDB to rent..

 

use cash to pay condo installments.

 

the rental from your HDB will cover the condo.

[Mllcg]

because they scared people withdraw cpf in full and next week decided to come back to work ... cash out as easy as atm machine and they need the west malaysian (main source of labour)

before the current prc and bangla ... 10 years ago majority FW are malaysian working in factory, construction, hawker, restaurant, cleaning, etc ... now all taken over by prc liao

but ... east malaysia can ... like sabah/sarawak is 10,000 miles away ...

 

batam is only 1hr boat ride away. o.O.

 

can get indo citizenship also good

[Kiadaw]

batam is only 1hr boat ride away. o.O.

 

can get indo citizenship also good

Then be prepare to apply for visa in many countries if you want to visit, & asked lots if question at the custom.

 

Harder also, if you intend to imgriate to other countries. Unless you rich, of course, but that's another story.

[Kiadaw]

use CPF to buy a HDB to rent..

 

use cash to pay condo installments.

 

the rental from your HDB will cover the condo.

It works now as property market is good now. 20 years down the road when you retires or your kids time, may not be the case.

 

A lot of us are tight down by properties, hence the self create problem, that we cannot stop influx of immigrants, otherwise, many people will get burned.

 

We re stuck now between a rock & a very hard place. No influx of immigrants cannot, too much also cannot. I feel for the next gens. Very soon, the word 'personal space' will be a fork lore, like kampong & kampong spirit.

[Khamsulv]

Mine should be enough.

[Angcheek]

recently I noticed SC doing alot of marketing activities 

[Acewin]

3 hours ago, Angcheek said:

recently I noticed SC doing alot of marketing activities 

You mean Standard Chartered Bank?

[Throttle2]

CPF never enough to retire.  I think i have to sell all my Rolexes by the time i am 65, hopefully the price double up again in another 20yrs.  

Jin jiak cham

[Ct3833]

Looks like the covid 19 situation is going to be here for  long haul, while the government has been helping businesses and individuals in many ways,  the amount of national reserves is finite, considering covid 19 being an exceptional crisis, maybe the government should consider allowing the public to withdraw some amount of  their CPF during this difficult period, even cap at $5k would still be better than nothing for those who really need financial helps. 

[mersaylee]

Enough...whatever the amount... just surrender ic the day after the last cent spend

[Mustank]

When you need a risk free investment, invest in the CPF 

you can trust in the Government 

if old ah Ma invest in cpf life, won’t be like this Liao 

https://forums.hardwarezone.com.sg/eat-drink-man-woman-16/72-yo-retiree-suing-uob-former-36-yo-rm-after-suffering-losses-%241-15m-kym-6358671.html

[Throttle2]

Actually i probably wont take any significant money out of CPF on my 55th.   No need, so better leave it there to compound 2.5%pa

[Albeniz]

42 minutes ago, Throttle2 said:

Actually i probably wont take any significant money out of CPF on my 55th.   No need, so better leave it there to compound 2.5%pa

You are below 55???

Very surprised that you are this young.

[Throttle2]

8 minutes ago, Albeniz said:

You are below 55???

Very surprised that you are this young.

I’m 37

 

[Wt_know]

10 minutes ago, Throttle2 said:

I’m 37

 

+10 ....  

Edited August 18, 2020 by Wt_know

[Throttle2]

12 minutes ago, Wt_know said:

+10 ....  

Dont burst balloon leh

[Wt_know]

62, 65, 67, 70, 90?

if laoma can work at 95  ... who need retirement ... huat ah!

Edited September 2, 2020 by Wt_know