those were the golden years of cpf. and if baby boomers were financially savvy then there were opportunities to save much in cpf and use them for home purchases, and then cash all out lum sum by migrating to a 1st world amdk cuntry of one's choice. and double down in new cuntry on other investments and real estate. $696k of cpf savings then invested in a few homes should have brought a windfall of more than $1.69m by now.
70 refers to the deferred monthly payout AFTER the minimum sum was met. That was not the case before. It was the full amount on the cpf statement that make LSS feel so rich. Not one part lump, another part annuity.
70 refers to the deferred monthly payout AFTER the minimum sum was met. That was not the case before. It was the full amount on the cpf statement that make LSS feel so rich. Not one part lump, another part annuity.
BTW a regular Joe isn't going to have much beyond the minimum sum at age 55 if still holding on to the HDB flat. You were lucky to have a few THOUSAND percent returns on your flat when you cashed out. The exception rather than the norm and current HDB owners certainly are not holding their breath for a similar windfall.
And you know why people are suspicious? Temasek and GIC losses post-2007 seem to be a coincidence is it not?
Nobody asked for you permission to have CPF money made into an annuity that bets on how long one can live beyond 70. Hard men live hard lifes, and without world class geriatric care you think them poor people old bones can live comfortably to a ripe old age like old thief LKY?
So I say again. CPF is not in fact your money when the agencies and intermediaries can do as they please without the simple courtesy of asking so god help me Sam you trolling me aren't you?
Follow sam to perth can withdraw 100%.70 refers to the deferred monthly payout AFTER the minimum sum was met. That was not the case before. It was the full amount on the cpf statement that make LSS feel so rich. Not one part lump, another part annuity.
BTW a regular Joe isn't going to have much beyond the minimum sum at age 55 if still holding on to the HDB flat. You were lucky to have a few THOUSAND percent returns on your flat when you cashed out. The exception rather than the norm and current HDB owners certainly are not holding their breath for a similar windfall.
And you know why people are suspicious? Temasek and GIC losses post-2007 seem to be a coincidence is it not?
Nobody asked for you permission to have CPF money made into an annuity that bets on how long one can live beyond 70. Hard men live hard lifes, and without world class geriatric care you think them poor people old bones can live comfortably to a ripe old age like old thief LKY?
So I say again. CPF is not in fact your money when the agencies and intermediaries can do as they please without the simple courtesy of asking so god help me Sam you trolling me aren't you?
The USA has a comfortable safety net for the disadvantaged and is therefore a social democracy.
Social programs in the United States
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
The Social Security Administration, created in 1935, was the first major federal welfare agency and continues to be the most prominent.[1]
Social programs in the United States are welfare subsidies designed to meet needs of the American population. Federal and state welfare programs include cash assistance, healthcare and medical provisions, food assistance, housing subsidies, energy and utilities subsidies, education and childcare assistance, and subsidies and assistance for other basic services. Private provisions from employers, either mandated by policy or voluntary, also provide similar social welfare benefits.
The programs vary in eligibility requirements and are provided by various organizations on a federal, state, local and private level. They help to provide food, shelter, education, healthcare and money to U.S. citizens through primary and secondary education, subsidies of college education, unemployment disability insurance, subsidies for eligible low-wage workers, subsidies for housing, Supplemental Nutrition Assistance Programbenefits, pensions for eligible persons and health insurance programs that cover public employees. The Social Security system is sometimes considered to be a social aid program and has some characteristics of such programs, but unlike these programs, social security was designed as a self-funded security blanket—so that as the payee pays in (during working years), they are pre-paying for the payments they'll receive back out of the system when they are no longer working. Medicare is another prominent program, among other healthcare provisions such as Medicaid and the State Children's Health Insurance Program.
Good financial management would dictate renting units from poor neighborhoods but in reality nobody goes into such extremes. You forgot there was an explicit promise by the PAP to house the population and make them homeowners thats why hdb was formed. If HDB prices their flats to an overheating property market it becomes the buyers' imprudent financial management for accepting a bad offer from hdb? Clearly the government is profiteering from a social/cultural/political expectation that HDB homes are affordable.
I am sure when the time comes, hdb leases can be extended at the right price.
Unless at a good location, then don't expect a sweetheart deal. in tat case they be evicted in favour of selling land to develop condos. Very calculative one.
That still does not make the CPF moneys yours does it? In the bad old days the family plantations in Malaysia held back portion of their workers' pay to sell them essentials at inflated prices. Should workers be grateful to plantation owners for holding back their salaries? Its an old trick. The similarities are too uncanny sir.
That still does not make the CPF moneys yours does it? In the bad old days the family plantations in Malaysia held back portion of their workers' pay to sell them essentials at inflated prices. Should workers be grateful to plantation owners for holding back their salaries? Its an old trick. The similarities are too uncanny sir.
