You could have retired comfortably if not for CPF

[winnipegjets]

https://www.cnbc.com/2018/12/19/ear...uit-saving-your-money-and-put-it-to-work.html

In 2010, Chris Reining committed to becoming financially independent. He set the goal of building a $1 million portfolio by age 35, cut back on his expenses and started aggressively socking away money. He worked his way up to saving more than half his income, reached the $1 million mark at 35, as planned, and officially retired in 2016 at age 37.

But, he says, saving isn’t enough. If you want to become a millionaire or settle down early, “quit saving your money,” Reining writes on his blog, and start investing it.


Say you decide to earmark $100 each month. If you let it sit in a standard savings account that offers an interest rate of 0.01 percent, it’ll grow to about $36,000 over 30 years. If you put it in a high-yield savings account that offers 1 percent, it’ll amount to about $42,000 over 30 years.

But if you invest your $100 every month and assume a 7 percent rate of return, it will grow to more than $120,000 over 30 years.

As Reining puts it: “The difference between 1 percent and 7 percent can change your life, and that’s why investing is so important.”

Click on link to read more and view attached video.

 

[winnipegjets]

CPF's peesai 2.5 percent interest dealt the death blow to any chance for you to have a comfortable retirement.

If you invest $10k a year for 30 years in SPY (US broad market etf), you end up with $1.3 million.
In CPF, you get only $460k.

See how much the PAP has ripped you off!

 

[zhihau]

Bro,
go ask around the folks in their 80s, when they received their CPF in the 1990s, it is zui bah bah. Coupled with Hongkies coming south, this combined group fuelled the property market gao gao then.

 

[mojito]

CPF's peesai 2.5 percent interest dealt the death blow to any chance for you to have a comfortable retirement.

If you invest $10k a year for 30 years in SPY (US broad market etf), you end up with $1.3 million.
In CPF, you get only $460k.

See how much the PAP has ripped you off!

Nonsense. Without CPF how much of your moneys will be with China pdmm and Batam mistresses?

 

[halsey02]

Nonsense. Without CPF how much of your moneys will be with China pdmm and Batam mistresses?

Usually I don't wish to say this...f$#$^$ u, what we do with our money, whether we go f$$%$ every woman in this world, or contribute extensively to the liquor industries & become penniless & destitute, we work hard for that money, how we uses it, no government in this world, should tell us what to do or hold on to it.

I have colleagues who retired in early 1980's at that time, before the started the MINIMUM SUM, had their full CPF, lived till now in their late 80's, enjoying life & do not have to take up exercises like collecting card boxes, people pusher in train stations, cleaning tables, collecting trays etc.

The point is...it is our money, how we spend it, it is our wish, how we looses it..our stupidity...NO GOVERNMENT MUST HAVE THEIR HANDS ON ANY RETIREMENT MONIES.

 

[KuanTi01]

Knn PAP. Always full of nanny excuses and motherhood statements. Come change my diapers! I am still so immature and naive! Another 10 years or so to kick the bucket. Please safe-keep my CPF forever!

 

[whoami]

Nonsense. Without CPF how much of your moneys will be with China pdmm and Batam mistresses?

Keeping mistress in Batam....are just excuses by MIW. Mean to lock up ur money. U mean to tell me all sinkie uncles kept mistressess?

Fair enough. Employer also play their part by contributing cpf to my account too. But tats our money. U have no right to lock up my money till 65. Even reaching 65 u pay us mthly only. Ridiculous!

 

[shittypore]

They returned our CPF than they feel no more Sinkies to clean their tables and wash their toilets.

 

[eatshitndie]

majority of sinkies will squander their earnings and savings when given the chance to manage their own finances. and then they kpkb that the gov should have set up cpf to protect their savings from themselves.

 

[garlic]

As much as i dislike CPF, the notion that CPF is the ONLY way to invest and ONLY source of retirement funds is wrong. CPF is just a part of your portfolio, the least riskiest part. After CPF has nailed down the least risky asset, you can then move on to investing in riskier assets of your entire portfolio.

 

[shittypore]

Majority died without complaining! What has CPF got to do with investment and portfolio? You mean tos who lost their CPF previously are now collecting dole frm Gahman?

 

[winnipegjets]

As much as i dislike CPF, the notion that CPF is the ONLY way to invest and ONLY source of retirement funds is wrong. CPF is just a part of your portfolio, the least riskiest part. After CPF has nailed down the least risky asset, you can then move on to investing in riskier assets of your entire portfolio.

For most sinkees, the CPF is the primary source of their retirement savings. The government should either provide a pension or pay at least 5 percent return.

 

[hollowman]

CPF's peesai 2.5 percent interest dealt the death blow to any chance for you to have a comfortable retirement.

If you invest $10k a year for 30 years in SPY (US broad market etf), you end up with $1.3 million.
In CPF, you get only $460k.

See how much the PAP has ripped you off!

stop dreaming for a risk free high returns investments. cpf board paid very good returns that's why you can see some sinkees topping max cash to their acct when near 55. I'm watching them.

 

[bobby]

Why don't they just allow those who want to withdraw their entire CPF sum the option to.

Those who swear by the goodness of CPF can continue to leave their money there.

It is our money and let us decide.

 

[shittypore]

Why don't they just allow those who want to withdraw their entire CPF sum the option to.

Those who swear by the goodness of CPF can continue to leave their money there.

It is our money and let us decide.

Cos they dont hve it.

 

[syed putra]

I followed the advice and lost everything.. now maybe have to deliver food until kena accident and up lorry.

 

[halsey02]

Why don't they just allow those who want to withdraw their entire CPF sum the option to.

Those who swear by the goodness of CPF can continue to leave their money there.

It is our money and let us decide.

The Malaysian EPF have choices...(1) (2) (3)....we have no choices or have any say in making choices...it is shaft down your gullet, or up your shithole...yOUR MONEY becomes yOUR MONEY...we tell you how we disburse yOUR MONEY, at what age.....say 70 - 99 & when we feel you should receive yOUR MONEY..

Pinky mentioned it..." no one protested in front of CPF BUILDING ( except CSJ sister & a company of police personnels) ..so they say you get yOUR MONEY at 99.9 years of age...you get it!. get it?...the 70% says..."aye, aye! can be read as ' bye, bye"..or CB whatever..

 

[whoami]

The Malaysian EPF have choices...(1) (2) (3)....we have no choices or have any say in making choices...it is shaft down your gullet, or up your shithole...yOUR MONEY becomes yOUR MONEY...we tell you how we disburse yOUR MONEY, at what age.....say 70 - 99 & when we feel you should receive yOUR MONEY..

Pinky mentioned it..." no one protested in front of CPF BUILDING ( except CSJ sister & a company of police personnels) ..so they say you get yOUR MONEY at 99.9 years of age...you get it!. get it?...the 70% says..."aye, aye! can be read as ' bye, bye"..or CB whatever..

NMP Chia already said CPF is not our money lah.

https://likedatosocanmeh.wordpress....-is-right-about-cpf-not-belonging-to-members/

 

[halsey02]

NMP Chia already said CPF is not our money lah.

https://likedatosocanmeh.wordpress....-is-right-about-cpf-not-belonging-to-members/

I know, they have been mentioning this so many time it is yOUR MONEY..... in the past under the cover of Ministry of Finance, they place excess funds into the LMM...the late old fart have mentioned...that is none of your bloody business to know what Business GIC & Temasek are engaging in & " My daughter in law" is a brilliant..."investor".???

The majority of Singaporeans (70%) are stupid people....they work, long & hard & contribute their BLOOD SWEAT & TEARS monies to " Government Funds' Into hands they trust & giving them a 365 days perpetual source of funds & they can get away from mistakes they make under layers & layers of so call accountability...

In other words...free money...spend as you like...

 

[whoami]

I know, they have been mentioning this so many time it is yOUR MONEY..... in the past under the cover of Ministry of Finance, they place excess funds into the LMM...the late old fart have mentioned...that is none of your bloody business to know what Business GIC & Temasek are engaging in & " My daughter in law" is a brilliant..."investor".???

The majority of Singaporeans (70%) are stupid people....they work, long & hard & contribute their BLOOD SWEAT & TEARS monies to " Government Funds' Into hands they trust & giving them a 365 days perpetual source of funds & they can get away from mistakes they make under layers & layers of so call accountability...

In other words...free money...spend as you like...

Plse count me out. I dont belong to the 70% sinkies who voted for MIW. After Francis Seow were defeated by a very thin margin, i am more adamant and started to vote for Opp parties. Never like woody at all.