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Why Are SGs forced to Downgrade When They are Old?

makapaaa

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[h=2]Why should we downgrade from our homes?[/h]
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September 26th, 2012 |
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Author: Contributions

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I had coffee with an old retiree friend the other day. We get by with our small monthly annuity and ang pows from the children, getting on okay with our simple lifestyle. So far we have been lucky, we are in good health.

My friend’s HDB property is worth about about half a million, my small landed property about a million plus. The common observation is that we should consider ourselves fortunate. Our main asset, our homes have grown in value many times over.

The common talk is if you need money, you can always downgrade. But my friend remarked why should we downgrade? Why must we give up our familiar home and surroundings and downgrade? What about our feelings, our attachments and sentiments. Why must people downgrade at the tail end of their lives? It is stressful.

Our homes have therefore become a commodity retirement instrument. What causes all this? The answer is things are expensive and keep going up. Why wasn’t there any control right from the beginning? Why nobody thought of a retirement package for us?

Then my friend said something that struck me. He said people selfishly voted for the PAP hoping to keep the high prices for their houses. Worried for his children and grandchildren, he is more than ready to sacrifice if the government takes drastic measures to reduce the housing costs for the sake of our future generation. It doesn’t matter if the value of his home drops by half. Can’t we pull the brakes and wipe up the spirit of sacrifice.
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Sacrifice and reduce costs
* Comment first appeared on: Did you make the right choice?
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Their theory is you are so old and useless, anytime will sell salted duck egg, need so big space for what??
 
If u needed money and have no ability to make then it's common sense to downgrade your home unless u can afford a maid to keep your 5 rooms flat clean ( smaller house can also mean easy to maintain for older ppl too ) By the way old ppl don't need such a big place to stay . 3 rooms flat will be enough . When u are old and got no money u still want to live in big house ?

Every country cost of living have gone up . not only Singapore .
 
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Our homes have therefore become a commodity retirement instrument. What causes all this? The answer is things are expensive and keep going up. Why wasn’t there any control right from the beginning? Why nobody thought of a retirement package for us?

This statement epitomises the sinkie mentality of expecting someone else to come up with the solutions to life's problems. It is this prevailing dependency mindset that has returned the PAP to power for half a century and counting. :rolleyes:

There are thousands of ways to prepare for retirement that don't involve the family home and are independent of govt policy. All it takes is a bit of hard work.
 
This statement epitomises the sinkie mentality of expecting someone else to come up with the solutions to life's problems. It is this prevailing dependency mindset that has returned the PAP to power for half a century and counting. :rolleyes:

There are thousands of ways to prepare for retirement that don't involve the family home and are independent of govt policy. All it takes is a bit of hard work.

the social contract in the past was: work hard, vote PAP, do your NS, don't talk about isms like democracy, don't strike, have 2 or 3 babies (depending on prevailing policy), sterilize your wives for primary school admission preference for your kids, and the PAP will take care of the rest (house, food, education, health)

now, the PAP still expects 100% compliance from the population but with none of the benefits.

why not return ALL cpf monies to the people? then we can use this to prepare for our retirement.

scared of the truth samantha?
 
This statement epitomises the sinkie mentality of expecting someone else to come up with the solutions to life's problems. It is this prevailing dependency mindset that has returned the PAP to power for half a century and counting. :rolleyes:

There are thousands of ways to prepare for retirement that don't involve the family home and are independent of govt policy. All it takes is a bit of hard work.

And the ironic thing is, the MIWs which the Sinkie voted in to have million dollars salary, don't give two hoots about the life problems of the Sinkie.

And yet these dependent types are the ones who keep voting them in.

These Sinkie really deserved what they sow.:D
 
the social contract in the past was: work hard, vote PAP, do your NS, don't talk about isms like democracy, don't strike, have 2 or 3 babies (depending on prevailing policy), sterilize your wives for primary school admission preference for your kids, and the PAP will take care of the rest (house, food, education, health)

now, the PAP still expects 100% compliance from the population but with none of the benefits.

why not return ALL cpf monies to the people? then we can use this to prepare for our retirement.

scared of the truth samantha?

Datok,

Agree.

The cpf should be returned to the people with immediate effect. And don't give the stupid reason of ah peks squandering our money at the casinoes or tiger aunties (whatever it might be) !!!
 
Datok,

Agree.

The cpf should be returned to the people with immediate effect. And don't give the stupid reason of ah peks squandering our money at the casinoes or tiger aunties (whatever it might be) !!!

they should also pay a fair return on our ordinary account. at 2.5%, that's a real con job. its not even inflation pegged.

the pathetic returns on our OA is the reason why we can't afford to retire on CPF monies. the extra spread earned on the monies goes into the pockets of temasek and GIC, which is fine if they use the money to help fund our retirement. but they use it to fund F1 and the like.
 
Datok,

Agree.

The cpf should be returned to the people with immediate effect. And don't give the stupid reason of ah peks squandering our money at the casinoes or tiger aunties (whatever it might be) !!!

totally support. 55 and full withdrawal. let those who squander it away on batam whores do it if they want.
 
they should also pay a fair return on our ordinary account. at 2.5%, that's a real con job. its not even inflation pegged.

the pathetic returns on our OA is the reason why we can't afford to retire on CPF monies. the extra spread earned on the monies goes into the pockets of temasek and GIC, which is fine if they use the money to help fund our retirement. but they use it to fund F1 and the like.

Pathetic lives are full of "shoulds", "woulds" and "if onlys"

The fact of the matter is that nobody else gives a hoot about the quality of your life or your financial health. If you want to live a rewarding and fulfilling existence, you have to take charge of your own destiny. The govt is not going to do it for you.:rolleyes:... not the PAP... or the WP... or SDP or any other party that may emerge in future.
 
Its a great way to cash in for our retirement.


hi there


1. silly, right!
2. provided you drop dead the next moment after cashing out.
3. a cunt like you should be able to live past 90!
4. think before you open that hole again.
5. preparing for the retirement should start when you are young!
6. doing enough homework shall save you such "headache".
 
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It not about downgrade. If the person have money then no need to downgrade if no money talk cock >>>what do they want???
Can only blame them self saving not enough to retired.
 
It not about downgrade. If the person have money then no need to downgrade if no money talk cock >>>what do they want???
Can only blame them self saving not enough to retired.

You cannot like that say lah because most retirees are hit by the money they have to set aside in Minimum Sum and the high price they paid for their property using CPF.....

Just found out from a friend who just turned 55 that he was only able to withdraw a token sum from CPF because of the MS and the fact that he purchased a resale 5-rm HDB flat for 350K 10 years ago. So you can imagine that if there is no MS and had my friend been able to purchase the same property at a much cheaper price (say 200K) then he would be able to retire comfortably with a significant retirement sum. So for my friend, no choice, if he wants to unlock his cash he may have to downgrade to a 3 or 4 room flat. Many retirees are doing just that .....
 
I have said this many times. Sinkies own selfishness will screw them eventually. This is call karma.

That is why smart people stay awY from sinkie and sinkieland to have a better life.
 
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I have said this many times. Sinkies own selfishness will screw them eventually. This is call karma.

This is what happen when women are allowed too much education and leeway in their standing in society.
 
This is what happen when women are allowed too much education and leeway in their standing in society.

i dun think is the women, it is the sinkieiness.

Your sinkieness will get you someday and i never expect it to be so fast whahahahah!!!

i called this Self-Screw!!!
 
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Pathetic lives are full of "shoulds", "woulds" and "if onlys"

The fact of the matter is that nobody else gives a hoot about the quality of your life or your financial health. If you want to live a rewarding and fulfilling existence, you have to take charge of your own destiny. The govt is not going to do it for you.:rolleyes:... not the PAP... or the WP... or SDP or any other party that may emerge in future.

you have not addressed my point on the pathetic returns on our ordinary accounts. its not even inflation pegged.

so you feel its ok for GLC and Temasek to earn huge returns funded by our CPF monies while we receive only 2.5%?
and you feel its NOT the responsibility of the State to care about the citizens' quality of life?

So what are the responsibilities of the State to the Citizen? no State can exist without citizens.
 
so you feel its ok for GLC and Temasek to earn huge returns funded by our CPF monies while we receive only 2.5%?
and you feel its NOT the responsibility of the State to care about the citizens' quality of life?

So what are the responsibilities of the State to the Citizen? no State can exist without citizens.

No it is NOT OK and the behaviour of the GLCs and Temasek is absolutely shocking and unacceptable.

However, whinging and whining about it does nothing for you. The effort you put into complaining should instead be channeled into creating wealth using the finances that you DO have control over.

I too moaned about the behavior of the PAP govt for the first 5 years or so of my working life. I then realised it was pointless so I decided to create my own retirement plan which turned out to be far superior to the one the govt had crafted for me.
 
Its absolutely rubbish to expect the government to be responsible for your standard of living. You sort that out yourself, The downfall of Stinky sinkies is their sense of entitlement, boastfulness, pride and the constant whining about absolutely FUCKING EVERYTHING.
 
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