CPF IS A Form Of Taxation. Singaporeans Still Dont Get It? It Is TAX.

[leetahbah]

CPF IS A Form Of Taxation. Singaporeans Still Dont Get It? It Is TAX.

That's a baseless statement, that is why opposition find it tough to win votes.

If you say buying 4D or Toto is a form of tax, it is much better, still it is still full of holes because nobody force you to buy.

 

[winnipegjets]

That's a baseless statement, that is why opposition find it tough to win votes.

If you say buying 4D or Toto is a form of tax, it is much better, still it is still full of holes because nobody force you to buy.

You're right ...it is not a tax ...it is an eternal loan from sinkees to the government. You lend the government and they give you 2.5 percent interest. You have no choice on this even though you can fetch higher return investing in etfs. The government uses the money to make 7 percent return.

And the government will try everyway to stop you from drawing down the money you are forced to 'loan' them.

It is not a tax, it is daylight robbery!

 

[Leongsam]

You're right ...it is not a tax ...it is an eternal loan from sinkees to the government. You lend the government and they give you 2.5 percent interest. You have no choice on this even though you can fetch higher return investing in etfs. The government uses the money to make 7 percent return.

And the government will try everyway to stop you from drawing down the money you are forced to 'loan' them.

It is not a tax, it is daylight robbery!

It's not daylight robbery because you have full use of your funds for numerous investment schemes.

Those who want to earn more than 2.5% returns on their CPF accounts have the liberty to do so.

My estimate is that I earned more than 20% ROI on my CPF investments thanks to the PAP government's asset enhancement programs.

If you want to experience daylight robbery trying living and paying taxes in NZ. The money goes into a black hole never to be seen again.

 

[LEGEND]

Yes of course you can invest cash but CPF gives you even greater buying power.

It was thanks to CPF that I was able to invest in TWO apartments. CPF also helped service the monthly loan installments so my take home pay was not affected whatsoever.

When I sold the two apartments a few years later, I made a profit of more than half a million dollars which was a king's ransom at the time.

Without CPF I would only have been able to invest in ONE apartment, I would have had to reduce my standard of living to service the loan from my take home pay and when I sold, I would only have made half the amount of profit.

CPF is the best thing since sliced bread.

CPF is your money. How come the way you put make it sounds like it's not yours. Greater power?

 

[Leongsam]

CPF is your money. How come the way you put make it sounds like it's not yours. Greater power?

The problem with the majority of Singaporeans is that that they harbor an old fashioned notion that if you have money that you can't spend, then it can't be yours.

However I've learned over time that money is just another asset and that assets should be put to work to give you a return. Assets should never be spent just as you don't kill the goose that lays the golden eggs and you don't kill the cow that produces copious amounts of milk.

Once you spend an asset, it is gone for good. Assets need to be milked for the yield and that is how I have treated my CPF funds.

It is for this reason that I still have a large amount of money in my CPF account.

If you take out your CPF money and SPEND it, when the spree is over, you have nothing left. On the other hand if you nurture the asset it will serve you well till your dying days. You can then will the amount to a deserving cause to continue your legacy.

 

[winnipegjets]

It's not daylight robbery because you have full use of your funds for numerous investment schemes.

Those who want to earn more than 2.5% returns on their CPF accounts have the liberty to do so.

My estimate is that I earned more than 20% ROI on my CPF investments thanks to the PAP government's asset enhancement programs.

If you want to experience daylight robbery trying living and paying taxes in NZ. The money goes into a black hole never to be seen again.

At least in NZ, you get more than what you pay into, for most kiwis at least.

Most sinkees won't see a cent of their CPF when they retire, thanks to the rising minimum sum requirement.

 

[Leongsam]

At least in NZ, you get more than what you pay into, for most kiwis at least.

Most sinkees won't see a cent of their CPF when they retire, thanks to the rising minimum sum requirement.

The only people who get more than they put in are the freakin freeloaders and useless, lazy members of society.

The hardworking people of NZ subsidise this group.

 

[takashi]

When I sold the two apartments a few years later, I made a profit of more than half a million dollars which was a king's ransom at the time.

I've never owned an HDB flat in my life. Those are for poor people.

In Singapore, I managed to accumulate more than $900,000 in CPF. By making use of these funds for property investment, I made more than $1.5 million profit after I retired and the sums were done.

But yesterday, you said/implied that all the above are LIES, right? :p
Or are you STILL lying?

But I thought you're a multi-millionaire?

I lied. I've been trying to talk big in order to boost my self esteem. On the internet you can be anything.

What if you're lying right now?
In which case, you're still a multi-millionaire, right? :p

Three years ago:

I claim to be a multimillionaire living in NZ but in reality I'm just a down and out sinkie living in a rented room in Toa Payoh.

 

[enterprise2]

Whenever I open and see my CPF statement, I feel so rich ..squealed one toothpick Minister! Maybe the CPF statement cannot contain all the zeroes from his inflated salary?

 

[Leongsam]

But yesterday, you said/implied that all the above are LIES, right? :p
Or are you STILL lying?

It's my on-line persona at work.

 

[frenchbriefs]

It seems that the majority here view CPF as a glass half empty but in order to take full advantage of this wonderful scheme, you need t extract all the positives.

CPF also need to be viewed in comparison with the way the Western world handles retirement funding.

Take NZ as an example that I'm most familiar with. Had I worked here all my life and earned the same salary as I did working in Singapore, I would have ended up paying THREE times the amount in taxes. In return, I get NZD290 a week from the age of 65 onwards till the day I drop dead.

Assuming I lived to 85, that's $290x52x20 =$301,600.... a meagre sum by any measure.

In Singapore, I managed to accumulate more than $900,000 in CPF. By making use of these funds for property investment, I made more than $1.5 million profit after I retired and the sums were done.

There is simply no comparison. CPF is the best!

It's not daylight robbery because you have full use of your funds for numerous investment schemes.

Those who want to earn more than 2.5% returns on their CPF accounts have the liberty to do so.

My estimate is that I earned more than 20% ROI on my CPF investments thanks to the PAP government's asset enhancement programs.

If you want to experience daylight robbery trying living and paying taxes in NZ. The money goes into a black hole never to be seen again.

Thats rubbish,in countries like nz and canada,the government invests the ciTIZEns pension funds,makes 16% returns annd gives them back every single percent.here in sg our garmen invests our cpf funds,makes 6.5% gives us 2.5% and Keeps the rest for themselves.how is that not daylight robbery?even investment giants and finance conglomerates like blackrock and vanguard dont charge their clients more than 1 to2% for managing billions and trillions.the only thing keeping this pathetic country together is money,not LKy or God,money and billions that have been stolen from the people over the decades.

 

[frenchbriefs]

It seems that the majority here view CPF as a glass half empty but in order to take full advantage of this wonderful scheme, you need to extract all the positives.

CPF also need to be viewed in comparison with the way the Western world handles retirement funding.

Take NZ as an example that I'm most familiar with. Had I worked here all my life and earned the same salary as I did working in Singapore, I would have ended up paying THREE times the amount in taxes. In return, I get NZD290 a week from the age of 65 onwards till the day I drop dead.

Assuming I lived to 85, that's $290x52x20 =$301,600.... a meagre sum by any measure.

In Singapore, I managed to accumulate more than $900,000 in CPF. By making use of these funds for property investment, I made more than $1.5 million profit after I retired and the sums were done.

There is simply no comparison. CPF is the best!

Oh boo fucking hoo.....in australia and usa people only pay 7% of their income to social security and superannuation and they are taken care of for life.here The PAP sucks 36% from us and our employers and they cant even take care of us!!!!28% of our "pioneers" are still clearing dishes and cleaning toilets....while the aussies are enjoying their golden years at the casino playing slots!!!!

The $1200 a month ur nz garmen gives u is just a safety net,in case u gamble away ur life savings and two houses at the casino or some tour guide scams ur senile old ass.

 

[Leongsam]

Thats rubbish,in countries like nz and canada,the government invests the ciTIZEns pension funds,makes 16% returns annd gives them back every single percent.h

I can't speak for Canada but I've lived in NZ for more than a decade and I've never been told about this 16% ROI or I would have dumped ALL my assets into this fantabulous world beating portfolio.

The only retirement fund that I know about is operated privately and subject to government rules and regulations. It's called Kiwisaver and returns have fluctuated considerably between providers and between portfolios depending on what category of risk you opt for.

EG http://www.gmi.co.nz/kiwisaver/performance-returns.aspx

 

[Leongsam]

Oh boo fucking hoo.....in australia and usa people only pay 7% of their income to social security and superannuation and they are taken care of for life.here The PAP sucks 36% from us and our employers and they cant even take care of us!!!!28% of our "pioneers" are still clearing dishes and cleaning toilets....while the aussies are enjoying their golden years at the casino playing slots!!!!

Gee I wonder why so many OZs live in the gutters then.

http://www.news.com.au/national/one...-highly-educated/story-fncynjr2-1227075824110

ONE in three elderly Australians are living in poverty, despite being among the most highly educated senior citizens in the world.

While Australia climbed one spot to 13th in the 2014 Global AgeWatch Index, a worldwide study of the quality of life and wellbeing of older people, it was in the bottom half of the list for income security.
The category which looks at pension incomes, poverty rate, welfare and GDP per capita is by far the country’s biggest failing when it comes to taking care of its older citizens, ranking 61 out of 96 surveyed nations.
It has the highest level of old age poverty in the Australasia region, which includes only New Zealand in the index, at 35.5 per cent, while also performing below par for income coverage and welfare rates.

 

[frenchbriefs]

I can't speak for Canada but I've lived in NZ for more than a decade and I've never been told about this 16% ROI or I would have dumped ALL my assets into this fantabulous world beating portfolio.

The only retirement fund that I know about is operated privately and subject to government rules and regulations. It's called Kiwisaver and returns have fluctuated considerably between providers and between portfolios depending on what category of risk you opt for.

EG http://www.gmi.co.nz/kiwisaver/performance-returns.aspx

Where have u been under a rock?the S&p 500 made over 280% the last 6 years.put ur money and ur 1.5 million would have tripled,crushing even PAP's asset enhancement.

 

[Leongsam]

Where have u been under a rock?the S&p 500 made over 280% the last 6 years.put ur money and ur 1.5 million would have tripled,crushing even PAP's asset enhancement.

http://dqydj.net/sp-500-return-calculator/

It's easy to cherry pick a period with hindsight in order to sell snake oil.

Try over the last decade from 2005 to 2015. I did better than than that with my own little portfolio.

 

[frenchbriefs]

Gee I wonder why so many OZs live in the gutters then.

http://www.news.com.au/national/one...-highly-educated/story-fncynjr2-1227075824110

ONE in three elderly Australians are living in poverty, despite being among the most highly educated senior citizens in the world.

While Australia climbed one spot to 13th in the 2014 Global AgeWatch Index, a worldwide study of the quality of life and wellbeing of older people, it was in the bottom half of the list for income security.
The category which looks at pension incomes, poverty rate, welfare and GDP per capita is by far the country’s biggest failing when it comes to taking care of its older citizens, ranking 61 out of 96 surveyed nations.
It has the highest level of old age poverty in the Australasia region, which includes only New Zealand in the index, at 35.5 per cent, while also performing below par for income coverage and welfare rates.

At least the aussies still care about their welfare.here our garmen would put our elderly in chains and have them drag 50kg of cardboard just to stick spurs in their hides.and then have a bunch of Old farts act out a commercial about the virtues of pioneer gen card.

 

[takashi]

It is for this reason that I still have a large amount of money in my CPF account.

By the way, does this mean that you're still a CITIZEN of Singapore? :p

But living as an "Investor" PR in NZ, of course:

Investor visa - investment visas | Move to NZ
Migrant Investment categories

 

[takashi]

Try over the last decade from 2005 to 2015. I did better than than that with my own little portfolio.

But I bet you didn't buy gold at US$300 per troy ounce in 2002 and sell it at above US$1,800 per troy ounce in 2011 for a 500% profit (at least in terms of USD); even now, it's still trading at around US$1,200:



But of course, I imagine you must have made millions, possibly even nearly (or at least?) SGD 10 million, with your sex forum by now. :p
(Twenty banners on the front page for, I'm guessing, a hundred SGD per banner per day)

 

[Ambulance]

halo jit zhun lui jin sway leh

But I bet you didn't buy gold at US$300 in 2002 and sell it at above US$1,800 in 2011 for a 500% profit (at least in terms of US$); even now, it's still trading at around US$1,200: