Budget 2024! 16Feb24

[Soya]

On 2/18/2024 at 10:41 AM, Butakim said:

CPF Life payouts is not guaranteed. It is stated clearly on CPF website. 

I'm having seconds thoughts on putting ERS.

If SA can be closed on a policy change, my concern is that CPF Life payouts might be changed as well. The govt might decide to change the withdrawal age or payout amount sometime in future. 

True dat. This smlj budget not onli get crumbs of peanut but demonstrates that it's more worthwhile to relak one corner, earn less n sponge off gahmen subsidies instead...lol

 

[Soya]

On 2/18/2024 at 11:05 AM, Wt_know said:

there is a "huge" difference between SA and RA -> CPF Life

SA = your account ... your money ... the more you save, the more interest you have, the more compounding value -> can withdraw song song gao jurong

4xBRS aka ERS -> RA -> CPF Life = a pool of money ... it's an annuity that fund the safety net for "entire nation elderly"

isn't it ?

Yes. It's carrot heads like us who are subsiding the rest. Screw the ERS. If can do BRS lagi best 

 

 

[RadX]

On 2/18/2024 at 11:08 AM, Soya said:

True dat. This smlj budget not onli get crumbs of peanut but demonstrates that it's more worthwhile to relak one corner, earn less n sponge off gahmen subsidies instead...lol

 

Ya do delivery and get handouts… ccb pap really

[Soya]

On 2/18/2024 at 12:07 PM, RadX said:

Ya do delivery and get handouts… can pap really

Erection consperm cumming la. Lose 10% of votes from self sufficient electorate but gain 30% from handout electorate, still huat ar

Whether ceo or food delivery, that 1 vote holds the same weight....

 

[RadX]

We seem to be going the china way

 

shared prosperity …. Sth lky cautioned from the very start

[ccc888]

On 2/18/2024 at 12:19 PM, RadX said:

We seem to be going the china way

 

shared prosperity 

40% voted for it to be that way what whahahahaa

[ccc888]

Next up capital gain tax, reinstate estate duty tax.

Wealth tax the rich gaolat gaolat.

40% voted for it what whahahaha

[ccc888]

On 2/18/2024 at 11:13 AM, Soya said:

Yes. It's carrot heads like us who are subsiding the rest. Screw the ERS. If can do BRS lagi best 

 

 

Migrate largi best. Jitao give up sinkie citizenship and withdraw everything lah

[ccc888]

On 2/18/2024 at 12:07 PM, RadX said:

Ya do delivery and get handouts… ccb pap really

Can also. Use yr BMW do delivery jin satki 🙂

[Soya]

On 2/18/2024 at 12:24 PM, ccc888 said:

Migrate largi best. Jitao give up sinkie citizenship and withdraw everything lah

Migration not the answer

We juz need better oppo n not the current noisy clownfest 

 

[ccc888]

On 2/17/2024 at 5:29 PM, Voodooman said:

Can't really compare an annuity (regular cash flows with zero residual value beyond x years) with other financial instruments with a yield and a maturity value. They serve different purpose.  

Haven't done the full maths on the new ERS, i might just go for it but at first glance, think i might just use the money to buy more bonds or buy into a global funds. 

 

If already amass comfortable wealth outside CPF, no need to crack head liao. CPF/CPFLife is kinda like a safety net as i said before.

“IF” yr savings kena scam, investment cui, yr kids and even yr dogs disown u….u still have CPF to fall back on tio bor.

 

We don’t have to always chase for maximum returns….else js whack stocks liao….bonds also waste time.

[ccc888]

On 2/18/2024 at 12:27 PM, Soya said:

Migration not the answer

We juz need better oppo n not the current noisy clownfest 

 

More oppo better for u? Whahaha

so funny…..more wealth redistribution ahead.

[Rayleigh]

On 2/18/2024 at 12:19 PM, RadX said:

We seem to be going the china way

 

shared prosperity …. Sth lky cautioned from the very start

I was thinking likewise too. It is the government responsibility to address and uplift those that needed help most holistically. Not rob peter  and pay paul + telling peter that you are doing very very good and lets pool the money. KNS. 

Edited February 18, 2024 by Rayleigh

[ccc888]

On 2/18/2024 at 12:36 PM, Rayleigh said:

I was thinking likewise too. It is the government problem to address and uplift those that need help most. Not rob peter  and pay paul + telling peter that you are doing very very good and lets pool the money. KNS. 

I read somewhere not a single country can prosper/last more than a century.

See European countries….many had fallen….more to come.

We are transitioning into a multipolar world order liao.

 

[Rayleigh]

On 2/18/2024 at 10:53 AM, Soya said:

I topped up cash from FRS to ERS to max out the 4.08% and left my SA intact thinking I can withdraw the full ERS sum b4 CPF Life kicks in. But later discovered onli can withdraw 20% of the ERS sum.....KNN

Now ah wong wanna close my SA n throw all my $$ into the ERS jail for life...with no extra interest...KNNCCB! Scholar logic realli first crass 

Come Dec limpeh gonna withdraw all my SA go huat MBS b4 they lock up $$ n throw away the key in Jan 2025

 

For the 20% withdrawal, is it only the principle sum minus the compounded interest? 

[ccc888]

On 2/18/2024 at 12:38 PM, Rayleigh said:

For the 20% withdrawal, is it only the principle sum minus the compounded interest? 

I think better read up cpf website and call their hotline instead of hearsay.

i never heard of simi 20% withdrawal. Whatever monies in RA can only withdraw upon death or when payout start at 65-70yo.

*Me not expert……verify yrself

[Rayleigh]

On 2/18/2024 at 12:49 PM, ccc888 said:

I think better read up cpf website and call their hotline instead of hearsay.

i never heard of simi 20% withdrawal. Whatever monies in RA can only withdraw upon death or when payout start at 65-70yo.

*Me not expert……verify yrself

Yap, And to be clearer, only the remaining principle sum minus the interest. 

[ccc888]

On 2/18/2024 at 12:55 PM, Rayleigh said:

Yap, And to be clearer, only the remaining principle sum minus the interest. 

I think also depends what plan u opt for upon 65yo.

If up lorry before payout date? I also duno…must read up

**Anyway js for sharing

https://www.cpf.gov.sg/member/faq/retirement-income/retirement-withdrawals/conditions-to-withdraw-part-of-ra-savings-using-my-property#:~:text=It is important to note,at the point of withdrawal

Edited February 18, 2024 by ccc888