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


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Sorry I had used yesteryears buy price and today’s dividends to get >4%.

 

Inflation factored in.

 

Not guaranteed but most years gain more than 5% excluding share price gain.

 

Every time they say until Bank gonna collapse just buy. Simple strategy.

 

Want guaranteed cannot be high yield. Want high yield cannot be guaranteed.

 

[lipsrsealed]

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Sorry I had used yesteryears buy price and today’s dividends to get >4%.

 

Inflation factored in.

 

Not guaranteed but most years gain more than 5% excluding share price gain.

 

Every time they say until Bank gonna collapse just buy. Simple strategy.

 

Want guaranteed cannot be high yield. Want high yield cannot be guaranteed.

 

wah...very envy you leh

 

buy stocks and properties all during fire sales

 

now so huat and relaxed

 

[thumbsup]  :D

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I would take the most basic plan and withdraw as much cash as i possibly can.

Becos neither me nor my dependants will be depending on CPF life for maintenance.

To me its just money stuck there due to our national policies.

Think the one that takes out the most each month is Standard plan not Basic and that is by default the plan allocated to us unless u opt for the other 2.

 

I’m also leaning towards Standard as well.

 

I was considering topping up my RA to ERS after what my friend shared on the better returns but after some posts from some of u, I don’t think I’m considering anymore.

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Think the one that takes out the most each month is Standard plan not Basic and that is by default the plan allocated to us unless u opt for the other 2.

 

I’m also leaning towards Standard as well.

 

I was considering topping up my RA to ERS after what my friend shared on the better returns but after some posts from some of u, I don’t think I’m considering anymore.

What i meant was....

 

I am taking as much out as i can from my own CPF.

I dont care a shit about CPF Life so i will choose the most basic and cheapest CPF Life plan just to fulfil the national requirement.

 

I have better use for my money.

Loads of cigars to buy.

Heh

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The best deals I feel are still in property.

 

Based on amount placed in since I started working (tax, all expenses in), the current nett yield (after deducting expenses) from rent is about 10%. Not inclusive of the years I stayed in some of them and the previous rents collected.

 

Based on current prices and amount I could withdraw if sell everything (based on equity position in properties alone), the yield after expenses is still comfortably about 5% if deduct all the interest some more.

 

Huge amount of loans that are fully being paid by tenants with some cash extra to save. Oddly speaking, rent collections is fast becoming larger than my paid salary. I guess I have to work harder.

 

 

 

 

wah...very envy you leh

 

buy stocks and properties all during fire sales

 

now so huat and relaxed

 

[thumbsup]  :D

 

Edited by Showster
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correct for you. buy a few more properties can shake leg and no need to work liao

congrats that you have “arrived” - go jobless which is every sporeans dream ... [thumbsup]

 

Oddly speaking, rent collections is fast becoming larger than my paid salary. I guess I have to work harder.

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correct for you. buy a few more properties can shake leg and no need to work liao

congrats that you have “arrived” - go jobless which is every sporeans dream ... [thumbsup]

 

 

You mean i am living the Singapre Dream?!?!?!?

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correct for you. buy a few more properties can shake leg and no need to work liao

congrats that you have âarrivedâ - go jobless which is every sporeans dream ... [thumbsup]

 

 

Bo lah. Full time landlord is equivalent to part time work.

 

Every few months got something to do.

 

So even then can’t shake leg. T2 is living the SG dream.

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mai hiam la .... this is the HIGHEST pay for a data entry clerk in singapore liao, and jb and batam ...

 

But i no income, no condo,......sure that is the Singapore Dream?

No lah no lah......
I need to work until i am 65, earn a miserable $15k a month , pay my $180k car through my nose, service my $3.5k per month instalment of a suburban condo, go for two holidays a year and act like i am 3 times larger than life in front of all friends and relatives.

That then is the Singapore Dream isnt it?

Edited by Wt_know
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mai hiam la .... this is the HIGHEST pay for a data entry clerk in singapore liao, and jb and batam ...

Brother, you also dont understand my post?

Surely not?

 

I was depicting the story of the Singaporean Dreamchaser.

$15k per month is definitely not me.

$180k car is definitely not me

Instalment for suburban condo, definitely not me

 

So, you can definitely rest assured that i data entry clerk dont earn $15k per month.

I only make $2,800 per mth.

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dun try to be a sucker in another country   :D

NZ court: CPF payouts treated as pension in the country
PUBLISHED 10 HOURS AGO
K.C. VijayanSenior Law Correspondent 
 
When a Singaporean living in New Zealand as a permanent resident had his pension benefits cut there, he took the case to court.
 
Mr Tan Kong Hwee, whose age was not stated, felt that New Zealand's Ministry of Social Development (MSD) should not have deducted S$668 per month from his pension, which is called superannuation.
 
MSD had done it because he had received NZ$2,219 (S$2,085) in total, in a series of payouts from the Central Provident Fund (CPF) in Singapore. The cuts in the superannuation payouts matched monies he had received from his CPF account. Earlier last month, a three-judge appeals court in New Zealand dismissed Mr Tan's claim that MSD should not have considered his CPF payouts in reducing his superannuation benefits.
 
The court ruled that CPF deposits are treated as a pension or periodic allowance under New Zealand law, and the CPF is a social security system for retirement needs, like a pension. The court also ruled it did not matter that monies are contributions from the wage earner and his employer, and not state-funded.
 
"The appeal raises an issue of some potential general or public importance to the extent that other Singaporean citizens who are entitled to receive New Zealand superannuation may also be affected by their entitlements under the (CPF) fund," wrote Justice Murray Gilbert on the court's behalf.
 
MSD figures show that as of March last year, there were 24 Singaporeans in New Zealand who received a total annualised value of NZ$296,825 in superannuation benefits. Also, a total of NZ$92,525 was deducted from their superannuation entitlements because of benefits they received from abroad.
 
Regular superannuation benefits of prescribed sums are payable to eligible New Zealand citizens or permanent residents over 65. They must have lived there for at least 10 years since they turned 20, five of which must be since they turned 50. The payout is modified according to conditions such as deductions from income earned abroad, including pensions.
 
Mr Tan, who lived in Singapore for 48 years, became a permanent resident of New Zealand in 2000 and was entitled to superannuation benefits in October 2014. But from November 2015, the MSD deducted S$668 per month from his superannuation payments to take into account the sum he had received from his CPF account. The appeals court noted that the sum was modest and Mr Tan had pursued the case in court on principle, having lost his case before two administrative panels and the country's High Court in April this year.
 
Mr Tan had argued that CPF monies, unlike superannuation funds, were his own monies. He said he would have received this in one lump sum if he had renounced his Singaporean nationality. He argued that this showed it was not a pension or periodical allowance as held under the relevant New Zealand law.
 
But the appeals court noted that the CPF showed the features of a pension or periodic allowance, and there was no error in the analysis based on the relevant New Zealand law. It added that the CPF was a mandatory social security savings scheme.
 
"Nor does it make any difference to the analysis that Mr Tan could have received his full entitlement in a lump sum if he had chosen to relinquish his Singaporean citizenship," said the court.
 
"He did not take that course and the funds remained subject to administration by the Singapore Government as part of its social security system to meet retirement and other needs."
 
As of March last year, superannuation payments amounting to some NZ$1.33 billion benefited 83,982 persons settled in New Zealand from more than 25 countries.

 

 

 

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dun try to be a sucker in another country   :D

 

 

 

so... he should have renounced his SG citizenship to get maximum benefits from both sides... haha... 

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ok what. a wise man in mcf said dont complain

think of what you can do and beat the system

even you need to change your name, so be it ... muahahaha

Edited by Wt_know
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