Lisw 2nd Gear February 12, 2015 Share February 12, 2015 Love the way you write 😂 Seriously looking at the situation in Singapore and majority of the issue Singaporeans face, this government is clearly sleeping on their jobs and being incompetant, I totally agreed that singaporeans should start to rebel and not suffer in silience while the government introduce more policy at the interest of their own. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Enye Hypersonic February 12, 2015 Share February 12, 2015 I had totally no idea what is the use of cpf $ now, since it was been seen as insufficient to service car and housing loans, and dont even think about retirement. No increase in increase rate but only increase in minimum sum, government wants sporeans to work longer and save more to pay for unreasonable houseing price. CPF does not serve it purpose anymore as there is no revamp to it perks. Very useful leh Pay up my home Small income stream when retired 😀 Link to post Share on other sites More sharing options...
Matrix0405 5th Gear February 12, 2015 Share February 12, 2015 I had totally no idea what is the use of cpf $ now, since it was been seen as insufficient to service car and housing loans, and dont even think about retirement. No increase in increase rate but only increase in minimum sum, government wants sporeans to work longer and save more to pay for unreasonable houseing price. CPF does not serve it purpose anymore as there is no revamp to it perks. U got a point. Time vale of money alone already pawn CPF members kao kao. Hold the amount for 25 yrs and return over another 25 = SG50. The $50K becomes $5K. CPF board huat ar, CPF member bo huat. 1 Link to post Share on other sites More sharing options...
Boringchap Turbocharged February 16, 2015 Share February 16, 2015 (edited) It's quite interesting, the differing views on CPF. In my case, at 55, I plan to put in the max I can into CPF Retirement account, for myself and wife (i.e. 250K each), God willing. Edited February 16, 2015 by Boringchap Link to post Share on other sites More sharing options...
Angcheek Hypersonic February 16, 2015 Share February 16, 2015 Wow you are rich. Hope it will be fruitful. I would prefer to have it in bank. It's quite interesting, the differing views on CPF. In my case, at 55, I plan to put in the max I can into CPF Retirement account, for myself and wife (i.e. 250K each), God willing. 3 Link to post Share on other sites More sharing options...
Boringchap Turbocharged February 16, 2015 Share February 16, 2015 (edited) There was an article in the Sunday Times. They put up this chart. The sums shown strongly suggest that the returns from CPF Life would be significantly higher than putting the same amount in an annuity. Zhun bo? Edited February 16, 2015 by Boringchap Link to post Share on other sites More sharing options...
Wt_know Supersonic February 16, 2015 Share February 16, 2015 (edited) $161k also cannot meet and now talking about $240k liao .... when i reach 55 probably no $400k-$500k no talk ... judging from at least 3% compund increment per annum Edited February 16, 2015 by Wt_know Link to post Share on other sites More sharing options...
Boringchap Turbocharged February 16, 2015 Share February 16, 2015 Wow you are rich. Hope it will be fruitful. I would prefer to have it in bank. I told my wife, when we retire and kids are grown, we don't need such a big HDB flat. So we can downgrade to a smaller flat and our CPF balances should have enough to hit 250K each for retirement. Link to post Share on other sites More sharing options...
Angcheek Hypersonic February 16, 2015 Share February 16, 2015 You pay more u get more. But the risk is u get little if u si kiao kiao early. Money goes in never see day light. There are many ways to invest or ration ur money. If you worry abt discipline , i can lend u my bank account hehhe There was an article in the Sunday Times. They put up this chart. The sums shown strongly suggest that the returns from CPF Life would be significantly higher than putting the same amount in an annuity. Zhun bo? Oh i see. So why not sublet ? I told my wife, when we retire and kids are grown, we don't need such a big HDB flat. So we can downgrade to a smaller flat and our CPF balances should have enough to hit 250K each for retirement. Waaa u also another rich man! So rich , share some wealth hehe $161k also cannot meet and now talking about $240k liao .... when i reach 55 probably no $400k-$500k no talk ... judging from at least 3% compund increment per annum Just a advice, dont trust msm too much. It has bias agenda There was an article in the Sunday Times. They put up this chart. The sums shown strongly suggest that the returns from CPF Life would be significantly higher than putting the same amount in an annuity. Zhun bo? 3 Link to post Share on other sites More sharing options...
Ingenius Turbocharged February 24, 2015 Share February 24, 2015 It's quite interesting, the differing views on CPF. In my case, at 55, I plan to put in the max I can into CPF Retirement account, for myself and wife (i.e. 250K each), God willing. I know of friends and colleagues also doing the same, cos it will give them $1200 per month. These people are the very financially prudent ones who don't own a car even though they easily can. I actually envy them. Agree with angcheek, the risk is that one doesnt live long enough to draw the 1200 per month (for 250k in ra), then it will be safer to withdraw the whole sum rather than in anuity. how many can be sure they will draw monthly totalling more than the 250k they put in ? thats why the idea of different anuity scheme with different returns is good. Link to post Share on other sites More sharing options...
Wt_know Supersonic February 24, 2015 Share February 24, 2015 (edited) now that cpf allow $80.5K lowest MS , backed with property then just leave $80.5K inside CPF lor take out all the $$$ buy an annuity plan that allow you to terminate prematurely (with some penalty) should you need $$$ "urgently" to fulfil your "bucket list" ... instead of $250K locked in CPF ... even you are dying can see cannot touch Edited February 24, 2015 by Wt_know Link to post Share on other sites More sharing options...
Joseph22 Turbocharged February 24, 2015 Share February 24, 2015 You pay more u get more. But the risk is u get little if u si kiao kiao early. Money goes in never see day light. There are many ways to invest or ration ur money. If you worry abt discipline , i can lend u my bank account hehhe Oh i see. So why not sublet ? Waaa u also another rich man! So rich , share some wealth hehe Just a advice, dont trust msm too much. It has bias agenda For the annuity it is zhun not propaganda. If not you go and try and ask. My father did. End up he stick to cpf because the amount those external party insure is much lower. Link to post Share on other sites More sharing options...
Wt_know Supersonic February 24, 2015 Share February 24, 2015 perhaps can buy 5 or 10 years govt bond? Link to post Share on other sites More sharing options...
Boringchap Turbocharged February 24, 2015 Share February 24, 2015 (edited) I know of friends and colleagues also doing the same, cos it will give them $1200 per month. These people are the very financially prudent ones who don't own a car even though they easily can. I actually envy them. Agree with angcheek, the risk is that one doesnt live long enough to draw the 1200 per month (for 250k in ra), then it will be safer to withdraw the whole sum rather than in anuity. how many can be sure they will draw monthly totalling more than the 250k they put in ? thats why the idea of different anuity scheme with different returns is good. It is $1,700 to $1,900 a month, and not $1,200 a month, if you put about $240,000 in RA at 55. Yes, I have asked around and some friends are indeed going to put the maximum sum at 55. Of course, there are others who will only put the minimum sum. Different people have different views, so let them exercise their choices. For me, I am not concerned about dying young. I can't control when I die and when I die, I can't take the money with me. I am more concerned that I become a burden to my loved ones by living too long and I don't have enough funds to support me when I grow very old. That's just me lah. Edited February 24, 2015 by Boringchap 2 Link to post Share on other sites More sharing options...
Angcheek Hypersonic February 24, 2015 Share February 24, 2015 I will need annuity soon. Haha but u need to know the difference provided by 3rd party and the G. I just have different thoughts. Feel free to put 240K in . For the annuity it is zhun not propaganda. If not you go and try and ask. My father did. End up he stick to cpf because the amount those external party insure is much lower. 3 Link to post Share on other sites More sharing options...
Boringchap Turbocharged February 24, 2015 Share February 24, 2015 I will need annuity soon. Haha but u need to know the difference provided by 3rd party and the G. I just have different thoughts. Feel free to put 240K in . 3rd party any better or worse? I would like to understand your views on this. Link to post Share on other sites More sharing options...
Kusje Supersonic February 24, 2015 Share February 24, 2015 Correct me if I am wrong - an annuity is the opposite of life insurance. Life insurance - you insure yourself against early mati. Annuity - you insure yourself against living too long Some people I know have both annuity and life insurance.... Won't the effect cancel each other out (less transaction/commission charges)?? Link to post Share on other sites More sharing options...
Angcheek Hypersonic February 24, 2015 Share February 24, 2015 Your thoughts are most respectable. this is my thought.when 1 grow old... its the medical that contribute up most of the spending. If i have 240k laying around, do i wan to get it lock up in cpf and will it cover all my medical expenses ? I yes , i think its a good policy. If not, and if i need $ for medical , where do i go dig the gold ? It is $1,700 to $1,900 a month, and not $1,200 a month, if you put about $240,000 in RA at 55. I am not concerned about dying young. I can't control when I die. I am more concerned that I become a burden to my loved ones by living too long and I don't have enough funds to support me when I grow very old. That's just me lah. ↡ Advertisement 3 Link to post Share on other sites More sharing options...
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