The best way to prepare for retirement is to use less CPF $$

[Wt_know]

young people bo chap = refereshing?

 

 

Said NUS law student Navin Prakass Pillay, 23, who was one of the organisers: "I encountered participants who are very passionate about issues that young people are not really interested in... I found that very refreshing."

[Hydrocarbon]

And hope HDB prices can stabilise further, so that ppl in our next gen, can buy within their means, ie using less cpf.

 

Using less CPF means that even if one spouse retrenched or not working for any reason, don't need to instant jump (or big headache).. High HDB prices, only those in power laugh, developers laugh, and housing agents laugh.. Those who are buying the homes..

 

or like if you want to save more on transport, walk to your destination.

 

They will say, take train in the early morning. FOC! Hahaha

 

 

Survival of the fittest principle? Alamak, as I am getting old, I haven't been exercising regularly and you

 

would like me not to survive just bcos I am not so fit?

 

 

Since you say you don't believen in welfare you cannot ask for the government to build you new flats at

 

reasonable prices. This is socialism and the birth of socialism. In 1876 Joseph Chamberlain used tax

 

payers money to buy land to build affordable housing for poor people and he also use tax payers (rich

 

people's money as the poor don't pay tax) to build free public libraries.

 

Since you don't believe in welfare you should just buy private property and not from the HDB at

 

the prevailing market prices. If you cannot afford that just too bad as public housing build by the state

 

is a form of welfare. Do you really think a hard working guy like me should pay income tax so that

 

a person like you can buy cheap housing so that you can sell in a few years and make lots of money?

 

 

No la, not don't want you to survive. Anyway, many MCF bros will support you (mentally lah), coz your posts sometimes on fire gao lat one..

 

But why not believing in welfare means prices of houses cannot be reasonable? Subsidy is welfare, but pricing goods at a reasonable price isn't. Singapore land is owned by government, and while I support selling some land at a premium (Sentosa) to buyers who want a luxury lifestyle, other plots of land at the outskirts of Singapore needn't be sold at a premium. It just needs to be sold at a prevailing market price. The issue I have is with the old "asset enhancement bullcrap" and pegging BTO to resale price. BTO should always be priced by government. It isn't there to make a profit.

 

Anyway, when the time for me to buy HDB comes, it wouldn't be cheap any more. Even looking at BTOs at Sengkang or other developing towns, I'd be looking at a minimum of 250K for a small flat. I don't think a quarter of a million is cheap. All the profits have been made by the previous generations, and me and my peers are going to pay the price of that.

[Joseph22]

 

brudder, read my post properly. that is exactly what i am trying to say.

it is IMPOSSIBLE not to wipe out the monthly contribution. unless you are prepared to pay the loan by cash~!

especially if you are earning in the jiak-buay-pah-yeow-buay-see range.

I am in that range Leh. Also didn't wipe out.😂😂

in the good old days ... the safer rule is build "reserve" in OA to service the monthly HDB loan for at least 12-18 months in case of unemployment/retrenched

 

 

That's why I think we should only pay installment base on 60% of OA contribution.

[Joseph22]

in the good old days ... the safer rule is build "reserve" in OA to service the monthly HDB loan for at least 12-18 months in case of unemployment/retrenched

 

 

I still believe in that, but I realise current generation that start work don't think so.

[Jamesc]

 

 

But why not believing in welfare means prices of houses cannot be reasonable?

 

 

Simple. In a free market economy developers will only make hosues for profit and all housing will be

 

very expensive and only the rich will be able to afford.

 

The same with schools, in a free market economy school will all be very expensive and

 

only the rich kids can afford to go.

 

The same with hospitals, roads and street lighting.

 

We take all these for granted as the gov has built them all.

 

If you look at countries with little or no public housing,

 

most people live in squatter towns and kids cannot afford to go to school.

 

Some kids take school for granted as everyone goes. In countries where

 

not all kids go, the poor kids that go really know what a priviledge it is

 

to go to school. Its because of Joseph Chamberlain that we have the concept

 

of socialism and the poor can have housing and schools and steet lighting and

 

hospitals etc all the things that people take for granted.

 

Welfare is taxing rich people to enable poor people to have schools, hospitals, libraries etc.

 

If you feel free market is the way then please do not use public housing, schools or hositals.

 

Go for private homes, schools and hospitals. This is your right as a free marketeer.

 

[Hydrocarbon]

Simple. In a free market economy developers will only make hosues for profit and all housing will be

 

very expensive and only the rich will be able to afford.

 

The same with schools, in a free market economy school will all be very expensive and

 

only the rich kids can afford to go.

 

The same with hospitals, roads and street lighting.

 

We take all these for granted as the gov has built them all.

 

If you look at countries with little or no public housing,

 

most people live in squatter towns and kids cannot afford to go to school.

 

Some kids take school for granted as everyone goes. In countries where

 

not all kids go, the poor kids that go really know what a priviledge it is

 

to go to school. Its because of Joseph Chamberlain that we have the concept

 

of socialism and the poor can have housing and schools and steet lighting and

 

hospitals etc all the things that people take for granted.

 

Welfare is taxing rich people to enable poor people to have schools, hospitals, libraries etc.

 

If you feel free market is the way then please do not use public housing, schools or hositals.

 

Go for private homes, schools and hospitals. This is your right as a free marketeer.

 

 

Absolutely right. That's what a free market will do. A free market without regulations.

 

With the deregulation of financial markets previously, financial firms were able to do up complex "investments" which caused the previous recession. With the deregulation / delimitation of car financing previously, car companies started selling cars on a 10 year 100% loan basis, which did play a huge part in pushing up car prices.

 

Human greed has to be tempered. And that regulation has to come from the government as they set policies.

 

If we had an entirely free market as you said, there will be no need for us to pay taxes, taxes which build all the public buildings and pay for social services (police / defense / medical). We'd all just pay for the services as and when we need them, and sooner or later, only the richest will be able to pay for it, and the poorest will be priced out.

 

I still don't believe in welfare. But what I believe in is free market with regulations. Maybe you'd think that HDBs sold at a reasonable price is welfare because they could hypothetically be sold at a higher price to some rich sheik from Middle East. But I don't think it is.

[Albeniz]

Some things are pre-destined while other things happened by choice.

 

It is not your fault if your father is not wealthy.

However, it is your fault if your father-in-law is poor.

 

 

 

I completely agree.

 

Thats why I regretted marrying a smart and beautiful women.

 

I should have married a rich, smart and beautiful women.

 

I shouldn't have settled so easily.

 

I hope single men don't make the same mistake I made.

 

You can be born to a rich family, not within our control, you can be the next Bill Gates,

 

within our control but how many can be like him? 1 in 1 million, 1 in 10 million?

 

Marry a rich lady - only viable option left.

 

 

Edited June 23, 2014 by Albeniz

[Evillusion]

i took a $300k loan 20 yrs ago. Was retrenched a few years and now paying what's remaining in my cpf.

Soon, I will have to pay cash.

 

People who chiong for the highest price they can pay now is probably going to regret when the day of reckoning comes.

 

New hdb flat is holding the bottom price. As its price goes up, everything goes up in tandem.

 

You loan more and more, but your life span is fixed and not extended.

i know of someone pushing 90 still works and getting obscene amount of salary to boot.

[Ktglfc]

So, bottomline:

1) use less cpf money when young, not practical when our HDB flat costs so much. unless our salary grows in tandem

2) continue to work till near retirement age, so that our cpf money is enough: meaning we can't rest and enjoy life, we just have to continue to toil for our medical expenses till we die..

 

Like that living in singapore really stress, stress when young, stress when couldnt use much cpf to buy flat, stress when old, stress when couldn't afford to retire...

 

Haiz... cpf money is indeed "our" money :(

[Fcw75]

f**ktard indeed.

 

Sometimes he should keep his mouth shut and quietly collect his million dollars salary.

[RH1667]

I think a better way then to use lesser CPF money is to find how to make more money when still able to!!

[Ahgong]

i know of someone pushing 90 still works and getting obscene amount of salary to boot.

Brudder, still working and still employed is two different things hor. Must say properly OK!

[Porker]

 

Its because of Joseph Chamberlain that we have the concept

 

of socialism and the poor can have housing and schools and steet lighting and...

 

 

I didn't know Joseph Chamberlain created that concept but I do know Joseph22 said we must limit installment payments to 60% of monthly OA contribution

[Joseph22]

 

I didn't know Joseph Chamberlain created that concept but I do know Joseph22 said we must limit installment payments to 60% of monthly OA contribution

Very good Liao. T2 will say, HDB so cheap must pay in full cash.😁😁😁

[Kangadrool]

Keep quiet, people say he boh work leh....

 

f**ktard indeed.

 

Sometimes he should keep his mouth shut and quietly collect his million dollars salary.

 

[Jamesc]

 

I still don't believe in welfare.

 

 

 

There is a difference between hand outs and welfare. I also don't believe in hand outs.

 

If people can work then should get a job and not rely on hand outs.

 

However hand outs and welfare are two totally different things.

 

Edited June 23, 2014 by Jamesc

[Joseph22]

 

There is a difference between hand outs and welfare. I also don't believe in hand outs.

 

If people can work then should get a job and not rely on hand outs.

 

However hand outs and welfare are two totally different things.

 

Welfare is got free time to see char bor. Edited June 23, 2014 by Joseph22

[Jamesc]

Some things are pre-destined while other things happened by choice.

 

It is not your fault if your father is not wealthy.

However, it is your fault if your father-in-law is poor.

 

 

 

 

I fully accept its my fault my FIL is poor.