OK PAP relents.. no more minimum sum plus 30% bonus on your cpf funds at 55

[kaipoh]

I too, don't trust anybody managing my CPF money, I can do it myself, I am an investment consultant. Do you want to know how you can spin your money 3 times more in less than 9 months?

Phone amusing. The govt behave as if they have a divine right to control your money. And they speak as if they are the shining jewel of welfare. Define squander. Are the countless losing deals temasek makes not considered squander? Or the obscene amount spent on youth Olympics ? Oh I forgot they are the experts on squandering. Of course their opinions are valid

 

[XXtCC]

I too, don't trust anybody managing my CPF money, I can do it myself, I am an investment consultant. Do you want to know how you can spin your money 3 times more in less than 9 months?

I want to know, how to spin?

 

[Faidenk]

Would I lend my money to a friend who gambles? And not really a good one at that. If I want to do that, wouldn't it be better if I gamble myself? Win or lose, I have nobody to blame. Except myself.

In life, there's only too important things - integrity and common sense. Integrity to carry out the promise even if it bankrupts you, and common sense not to make such a promise. And that about says it all.

 

[palden]

I understand that. You have made your point. However, I want you to think of those who only have $150,000 in their accounts after so many years of work. What if it's paid out at 55 and all gone by 65? What happens then?

Paid out at 55 gone by 56.

 

[palden]

Retire at 55? Siao liao. Better die at 60. Otherwise how to survive?

So those who have $150,000 or less can now withdraw the whole lot at 55 and there's a 30% gratuity so that's $195,000 in total if you had $150,000.

You're 55 which is the restored retirement age courtesy of PAP or the new government. You estimate you're going to live till 85... that's 30 years. You now have $195,000 in the bank. How are you going to budget for your retirement?

If you draw $10,000 per year [$833 per month] of the above sum at 3% return, it will last 29 years so at 84, you have nothing left.

 

[winnipegjets]

I want to know, how to spin?

All in on AAPL.

 

[winnipegjets]

it can be based on a 2-tier or double standard scheme: capable sinkies can withdraw all at age 55, fucktards can withdraw zilch for the rest of their lives. :p

Your Republican and Tea Party buddies will dissociate from you if they know of your 'crazy' idea.

 

[Leongsam]

We've reached page 3 of this thread and nobody has explained how they're going to budget their $195,000.00 which the government has returned, in full, at age 55.

All I see is the usual rhetoric about CPF being "my money".

Shouting slogans and scribbling graffiti is easy. Real life is a lot more complicated.

 

[winnipegjets]

We've reached page 3 of this thread and nobody has explained how they're going to budget their $195,000.00 which the government has returned, in full, at age 55.

All I see is the usual rhetoric about CPF being "my money".

Shouting slogans and scribbling graffiti is easy. Real life is a lot more complicated.

In a society where everyone is responsible for themselves, how that money is invested, spent or lost is not a concern of the government.

If everyone gets their money back, a new wealth management industry catering to this situation will rise. And I can bet you that the returns will definitely be higher than the CPF returns.

 

[Sinkie]

I'm happy to live till 65 and according to my family's genes, this is already overdue. So, I do not expect my CPF to get locked up and I do not believe for a moment that life expectancy is 85. I want my CPF back at age 55 and please do not bother to take care of me beyond 65. I will not be a burden to society.

So, I do not need any idiotic useless program like annuity or have my funds locked up for 7 to 10 years. By the time I qualify for annuity payout at age 65 or 67, I'm already ready to call it a day. What a load of statistics massaging and fear-mongering. How many live beyond 65? At most till 70, and you should be planning to go already. What living till 85 nonsense?!! Go fuck spiders, don't come here and bluff just to keep my CPF from me and force me to sign up for a stupid annuity plan that I will not reap, for sure.

I can use the CPF to earn bank interest at 1%. While it is lower than what CPF pays, at least I've the flexibility to use it any way I like in an emergency and no need to plead for help and explain and tell long stories and wait for case-by-case approval from the CPF, which in all likelihood will give me a stroke due to raising my HBP when talking with gate-keepers at CPF, for sure.

So, can I have my CPF in full back at age 55?

 

[zeebjii]

We've reached page 3 of this thread and nobody has explained how they're going to budget their $195,000.00 which the government has returned, in full, at age 55.

All I see is the usual rhetoric about CPF being "my money".

Shouting slogans and scribbling graffiti is easy. Real life is a lot more complicated.

Real life is indeed complicated and has a lot of variables. Back to your first post, arent you also guilty of over-simplying things by assuming that the retiring person has ONLY his 195000 payout to fall back on?

 

[Tuayapeh]

We've reached page 3 of this thread and nobody has explained how they're going to budget their $195,000.00 which the government has returned, in full, at age 55.

All I see is the usual rhetoric about CPF being "my money".

Shouting slogans and scribbling graffiti is easy. Real life is a lot more complicated.

House fully paid up and kids have grown up? Simple, rent out the spare bedrooms..... Get a bit of side income coupled with a little coming from my filial children, i am going to lead a fairly comfortable retirement.....if i have equivalent savings of 150k, i think i can live fairly ok.....so start with 150k savings at 55 w house fully paid....then cpf returns me say 200k


Put all 200k into something safe with reasonable yield at 4%, plus 1000 per month from rent, 500 from the kids, use the 1k from the balance, can live fairly ok comfortable life for a long time........ Hawker cexntre mostly .....once in a long while, restaurant........





Or fuck this bullshit place, sell the apartment for 800k and just move to penang, spend 300k on a small apartment, put 800k into the investment which brings 32k a year and just spend 2k a month from the balance which will not be diminished........doable.......i think penang might be a better option....fuck this bullshit place......

 

[Leongsam]

In a society where everyone is responsible for themselves, how that money is invested, spent or lost is not a concern of the government.

If everyone gets their money back, a new wealth management industry catering to this situation will rise. And I can bet you that the returns will definitely be higher than the CPF returns.

Yeah remember what happened to the the bunch of old farts who invested in high notes.

If everyone gets their money back, there'll be adverts galore promising spectacular returns which would put Ho Ching to shame. We all know what's going to happen next.

 

[jw5]

I already explained that it will all be budgeted for soil research. :p

Hurray! Soil Research gets a 30% bonus! :p

We've reached page 3 of this thread and nobody has explained how they're going to budget their $195,000.00 which the government has returned, in full, at age 55.

All I see is the usual rhetoric about CPF being "my money".

Shouting slogans and scribbling graffiti is easy. Real life is a lot more complicated.

 

[Leongsam]

Real life is indeed complicated and has a lot of variables. Back to your first post, arent you also guilty of over-simplying things by assuming that the retiring person has ONLY his 195000 payout to fall back on?

I'm presenting a scenario which is all too common. I'm not referring to any particular person.

 

[escher]

NO RELENTING FOR PAPs

HANG OR BURN THEM ALL
MAKE THEM EAT JOSS STICKS IF THEY CAN
MANY WILL BE DESTINED TO BE TIEWED AND RAPED AND KANNED WITH NO TIME OFF FOR JOSS STICKS OR CANDLE WAX



PAPs ARE ATTACKING SINGAPOREANS BY THIS ATTACK ON ROY
PAPs ARE FIXING THEIR PIANO WIRES AROUND THE NECKS OF SINGAPOREANS
PAPs ARE FIXING THE NECKLACE OF BURNING CAR TYRES ON THE NECKS OF SINGAPOREANS
WILL SINGAPOREANS REMAIN HEAD DOWN DOWN AND ARSEHOLES UP HIGH HIGH FOR PAPs TO FUCK
AND TO TIEW AND TO TIE PIANO WIRES?

TURN UP AT THE RALLY AT HONG LIM TO SUPPORT ROY AND SHOW PAPs WE FIGHT THIS TIME
ENOUGH IS ENOUGH


Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.
BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.
Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.
Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.


GET RID OF THE POISON IN SINGAPORE
HANG ALL THOSE FUCKING PAPs AND THEIR COLLABORATORS
BBQ THE BASTARD PAPs

AND SINGAPORE CAN BE AS GOOD IF NOT BETTER THAN SWITZERLAND

OR REMAIN HEAD DOWN DOWN AND ARSEHOLES UP HIGH HIGH TO BE FUCKED TO BE TIEWED TO BE KANNED BY THE PAP MAGGOTS COCKROACHES

Kill them all PAPs
Let GOD sort out the good from the really bad ones
The good PAPs can then eat joss sticks and candle wax from time to time
The bad PAPs like smear of shit on sole of shoe LKY will be raped and tiewed and kanned by legions of ghouls and demons and not ever
get time off to eat joss sticks and candle wax

Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.

BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.

Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.

Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.


None of those in PAP work for anyone but that smear of shit on sole of shoe LKY, to help him hold down Singaporeans to screw and fuck hundreds of BILLIONs from us all into smear of shit on sole of shoe LKY stinkapore sovereign funds.

They are there in PAP because LKY know that they are a bunch of self serving greedy bastards and scrapings of scums of society. To call them maggots cockroaches will be to insult real maggots and real cockroaches.
LKY will never allow good decent people into the PAP and good decent people will not want to get into the PAP.

Those in PAP are the most corrupt and moral degenerates and moral bankrupts and moral filths that are being presented to stinkaporeans as moral compasses.

Despite the leeching and fucking of singaporeans by the cheebye PAP and LKY, Singapore still managed to survive to date.
Despite their being hung as a fucking millstones around the necks of Singaporeans and the idiocy and corrupt manipulations of PAP and LKY, Singapore still not dead yet.

WE ALL ARE NOW WAITING FOR THE DEATH OF LKY IN COMING DAYS OR WEEKS.
WE ALL WILL YUM SENG AND YUM SENG AND YUM SENG AGAIN AND AGAIN DANCING SINGING ON TABLE TOPS AND STREETS

WE THEN WILL SEE THOSE IN PAP WITH SHARPENED KNIVES HOOTING ARSEHLOON A DOZEN NEW ARSEHOLES AND THE DEATH OF THE ENTIRE LEE KWA CLAN

WE THEN WILL PICK UP PIANO WIRES AND HANG ALL THOSE REMAINING PAP AND THEIR COLLABORATORS FROM LAMP POSTS AND SEE THOSE BASTARDS AND BITCHES DANCE.
AND HAPPINESS WILL RETURN TO OUR LAND.

AND STINKAPORE WILL BECOME SINGAPORE ONCE MORE.

https://www.torproject.org/about/overview.html.en

 

[winnipegjets]

Yeah remember what happened to the the bunch of old farts who invested in high notes.

If everyone gets their money back, there'll be adverts galore promising spectacular returns which would put Ho Ching to shame. We all know what's going to happen next.

People take responsibility for their own well-being ...that's the PAP principle all the decades, so why should the CPF be an exception?

When rip-off financial products can be sold, it shows how poorly the industry is regulated then and we call sinkapore a financial centre! What are the overpaid regulators doing? Sleeping on the job?

If people are not exposed to financial management and allowed to make investment mistakes, financial literacy will always be lacking. It is time that sinkees learn how to manage their hard-earned retirement savings and if they falter, let that be. People will learn eventually.

 

[Manager]

With the exception of Mr Leong, alot of you are daft and probably deserved to be penniless in your old age.
Singaporean lacked guts and foresight.

For the record i do not even have 15,000 in my CPF account, let alone 150,000, but am i worried? No, i am not.
now if u want to know why, it is because since at a young age, i never believe putting my money in the CPF will allow me to retire comfortably.

so why am i not worried. you see, i am a entrepreneur and a successful one.
being a sole proprietor, i get to decide how much i wish to contribute to my CPF account monthly.
I never believe in working for others and drawing a monthly salary. i wasnt happy with that....
being a entrepreneur has also enabled me to semi retire when i was in my early 30s
whatever money i earned, i invest them in properties and other assets and is still doing so.
my investment are diversified, stocks, bonds, commodities and properties were my favourites. i didnt touch forex though.
i reckon i was able to retire by the age of 40. sadly good things dont last, like many, i was hit badly by the global financial crisis afew years back and lose 3/4 of my fortune.
i was down, but never out. i thought hard and work out new directions for my future investment..
I picked myself up and learn from the experience. i now do not invest in bonds anymore, but go for properties and blue chips. i also invest in new up and coming business ventures with great potential.
one of my recent investment was in a company dealing with 3D printing and that was more than 20 months ago when not alot of people knew what it was about.
today, i have recovered more than 80% of my losses and my total assets is worth more than 4mil sgd.
with this money, i should be able to retire comfortably and not depend on my CPF money for retirement.

if i had continue to work as a employee and receive a monthly salary, i would never have achieve what i achieved today.

 

[soIsee]

Would I lend my money to a friend who gambles? And not really a good one at that. If I want to do that, wouldn't it be better if I gamble myself? Win or lose, I have nobody to blame. Except myself.

In life, there's only too important things - integrity and common sense. Integrity to carry out the promise even if it bankrupts you, and common sense not to make such a promise. And that about says it all.

No, you did not lead money to a friend who likes to gamble.

You had placed your money with a 'trusted' friend, who in turn lend your money to another friend of his, who is a gambler.

Your 2 issues here.

1. Your misplaced trust of your perceived TRUSTED friend.

2. Your money was lent, without you knowing to the other gambler, who was not a friend of yours but only to your 'trusted' friend.

Both your 'trusted' friend and the gambler have no pains to the lost of any of those money.

It wasn't theirs to begin with.

But any gains made by the gambler with your money, she keeps. LoL

 

[soIsee]

With the exception of Mr Leong, alot of you are daft and probably deserved to be penniless in your old age.
Singaporean lacked guts and foresight.

For the record i do not even have 15,000 in my CPF account, let alone 150,000, but am i worried? No, i am not.
now if u want to know why, it is because since at a young age, i never believe putting my money in the CPF will allow me to retire comfortably.

so why am i not worried. you see, i am a entrepreneur and a successful one.
being a sole proprietor, i get to decide how much i wish to contribute to my CPF account monthly.
I never believe in working for others and drawing a monthly salary. i wasnt happy with that....
being a entrepreneur has also enabled me to semi retire when i was in my early 30s
whatever money i earned, i invest them in properties and other assets and is still doing so.
my investment are diversified, stocks, bonds, commodities and properties were my favourites. i didnt touch forex though.
i reckon i was able to retire by the age of 40. sadly good things dont last, like many, i was hit badly by the global financial crisis afew years back and lose 3/4 of my fortune.
i was down, but never out. i thought hard and work out new directions for my future investment..
I picked myself up and learn from the experience. i now do not invest in bonds anymore, but go for properties and blue chips. i also invest in new up and coming business ventures with great potential.
one of my recent investment was in a company dealing with 3D printing and that was more than 20 months ago when not alot of people knew what it was about.
today, i have recovered more than 80% of my losses and my total assets is worth more than 4mil sgd.
with this money, i should be able to retire comfortably and not depend on my CPF money for retirement.

if i had continue to work as a employee and receive a monthly salary, i would never have achieve what i achieved today.

I believe many Sinkie are not that worried that their CPF cannot be used or be sufficient for retirement.

On the contrary. With the exceptions of the lower half who cannot make it. Most Sinkie just cannot accept that the Pappies have lied, twisted their words, misplaced their trust and above all, self rewarded themselves obscenely at their expense and still wants more.