[Sg] - Rich Singaporean man has over $1mil in his CPF

[UltimaOnline]

https://forums.fuckwarezone.com.sg/threads/ak71-more-than-1-1-million-in-cpf-savings.6858009/

 

[hairylee]

Peanuts compared to Mr Lim Swee Say.

 

[countryman]

View attachment 174916


https://forums.fuckwarezone.com.sg/threads/ak71-more-than-1-1-million-in-cpf-savings.6858009/

This kinda figures in the cpf a/c nowadays is quite common among the conservative people in the workforce... Those who bought 4 or 5 room new HDB flat 20+yrs ago @ averaging150k would have easily paid off the loan much earlier... Their cpf would have started accumulating after their HDB loan was cleared..

 

[SBFNews]

This kinda figures in the cpf a/c nowadays is quite common among the conservative people in the workforce... Those who bought 4 or 5 room new HDB flat 20+yrs ago @ averaging150k would have easily paid off the loan much earlier... Their cpf would have started accumulating after their HDB loan was cleared..

Yep. It's nothing surprising.

 

[syed putra]

Blimey. Deliveroos get not cpf.

 

[JohnTan]

View attachment 174916


https://forums.fuckwarezone.com.sg/threads/ak71-more-than-1-1-million-in-cpf-savings.6858009/

If oppies took advantage of CPF's compounding power at about 3.5 % per annum for 35 years or so of working, they would easily saved a few hundred thousand dollars in their CPF already. Can retire to johor or batam like they always threatened and take advantage of those countries depreciating currencies.

 

[sweetiepie]

Imuho the difference lies with whether the picture shows a leetirement account.
If yes then is normal becas it means that person already passed 55.
If passed 55 don't have about this figure then is jialat liao.

 

[mojito]

Silly man. He exchanged real money for CPF dollar tokens. Want to know how much FTX tokens are now worth?

 

[RogerK]

If oppies took advantage of CPF's compounding power at about 3.5 % per annum for 35 years or so of working, they would easily saved a few hundred thousand dollars in their CPF already. Can retire to johor or batam like they always threatened and take advantage of those countries depreciating currencies.

What is the point of having 3.5% per annum when inflation is almost double at 6.7%?

 

[Baimi]

CPF contribution wage ceiling is $6,000
Total percentage 37% employer 17% for those below 55 year old.
37% x $6000 is $2,200 monthly contribution, one year is $26,640 but not all go to ordinary account.
If he works for 40 years is about $1million.
If not then by selling HDB to make a tidy profit or by investing in shares.
My CPF ordinary account is more than $400K, I don't contribute max pay ceiling of $6,000 but I made over $150K in Shares and dividends.
If you know the history of SPC share.
I bought at $1++ it went up to $8++
plus 2 times yearly dividends.
Even though @$6,000 ceiling contribution of over a year is $26,640, you can contribute more than this amount through dividends

 

[Loofydralb]

I know of plenty who has this and more in their CPF and/or bank accounts.
However they are the minority.

 

[zhihau]

Of what use is it if you die before you can withdraw them? Money that you spent was truly yours, it’s otherwise mere digits in an account.

 

[tobelightlight]

Of what use is it if you die before you can withdraw them? Money that you spent was truly yours, it’s otherwise mere digits in an account.

Exactly, what is there to show for what is in your cpf. The bigger amount in it, imo, the more foolish you are. This is not your money as you have no control over it.

The only way this money can move is only when you passed away and give it to your children. That is when the control of this money is given up to people that can have total control over it, when you die and your children get it. ( provided you want to have children in this ripped off country Singapore)

 

[tobelightlight]

i wonder what Andrew Tate has to say on this.

 

[rodent2005]

Exactly, what is there to show for what is in your cpf. The bigger amount in it, imo, the more foolish you are. This is not your money as you have no control over it.

The only way this money can move is only when you passed away and give it to your children. That is when the control of this money is given up to people that can have total control over it, when you die and your children get it. ( provided you want to have children in this ripped off country Singapore)

This is wrong info and inaccurate advice.

 

[rodent2005]

I know of plenty who has this and more in their CPF and/or bank accounts.
However they are the minority.

At age 55, having this amount is not bad. He is drawing $2,880 almost risk-free passive income every month without touching his capital (albeit this amount will dwindle as he withdraws).

 

[ODACHEK]

 

[A Singaporean]

This is the kind of Sinkies we want in Sickipoora. Low ses Sinkies can just fuck off and we have many foreigners ready to displace you.

 

[tobelightlight]

This is wrong info and inaccurate advice.

I am not giving advice. I am stating facts. Are u someone who can manage ur life and money by yourself better than what the govt offer to u. If u are, then cpf is a waste of time.

Cpf is a tool that trap your life in Singapore. Kind of like hypnosis or black magic.

 

[Baimi]

I have this amount in total.