The Hard truth is CPF is based on a big fat lie! Here's why...

[Sinkie]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Leongsam is on overdrive........but looks like he is driving himself over the cliff while avoiding the crux of the issue, which are:

"CPF made a sacred promise to RETURN OUR CPF @ 55, but it reneged on this sacred promise"

Second, Leongsam is speaking for the rich and very rich in Singapore and keep condemning the poor while taking away every last ray of hope for the poor to get out of the hole which PAP helped to dig for them over the years.

Third, Leongsam is totally silent on how the govt intends to take care of those who are self employed when they reach 55, to prevent them from 'squandering their savings' when they reach 55, including FEMALES, by going to Tg Pinang to look for whores and the females going online to look for ah neh gigolos who pretend to be anymohs....*sic*

Finally and in conclusion, he keeps comparing with an irrelevant NZ pension scheme (and its ridiculously convoluted taxation system), while totally blind-side everyone on other relevant Employees Provident Fund, especially Malaysia's EPF, illustrated here below.....

http://furrybrowndog.wordpress.com/...f-real-cpf-returns-and-other-provident-funds/

KNN, I give up........

 

[Sinkie]

Refer to my first post of this thread.......CPF is built on a lie of 'people living longer till age 85' to have this evil excuse to hoard members' CPF, because the statistics did not lie, but CPF lied.

READ THE FIRST POST OF THIS THREAD AND BE TOTALLY SHOCKED ON HOW CPF IS BUILT ON A BIG FAT LIE!!

 

[laksaboy]

Refer to my first post of this thread.......CPF is built on a lie of 'people living longer till age 85' to have this evil excuse to hoard members' CPF, because the statistics did not lie, but CPF lied.

READ THE FIRST POST OF THIS THREAD AND BE TOTALLY SHOCKED ON HOW CPF IS BUILT ON A BIG FAT LIE!!

LOL. You think every old person in Sinkieland so good life like Old Fossil meh? Live till 90 plus, no need to collect cardboard boxes for a living. So carefree, can go write books and plant trees without worrying about your next meal.

There's also no risk of getting knocked over by a bus or lorry, because the security doggies will be guarding you (and your arse) wherever you go.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

The mix and match has resulted in one horrible tasting rojak. Citizens are forced to buy into ever increasingly expensive properties to ride the wave of government policies. We've dug ourselves a very deep grave and now only the best can climb out of this mess.

Property appreciation occurs the world over in economies that are doing well. It is hardly a uniquely Singaporean phenomenon.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Leongsam is on overdrive........but looks like he is driving himself over the cliff while avoiding the crux of the issue, which are:

"CPF made a sacred promise to RETURN OUR CPF @ 55, but it reneged on this sacred promise"

Second, Leongsam is speaking for the rich and very rich in Singapore and keep condemning the poor while taking away every last ray of hope for the poor to get out of the hole which PAP helped to dig for them over the years.

Third, Leongsam is totally silent on how the govt intends to take care of those who are self employed when they reach 55, to prevent them from 'squandering their savings' when they reach 55, including FEMALES, by going to Tg Pinang to look for whores and the females going online to look for ah neh gigolos who pretend to be anymohs....*sic*

Finally and in conclusion, he keeps comparing with an irrelevant NZ pension scheme (and its ridiculously convoluted taxation system), while totally blind-side everyone on other relevant Employees Provident Fund, especially Malaysia's EPF, illustrated here below.....

http://furrybrowndog.wordpress.com/...f-real-cpf-returns-and-other-provident-funds/

KNN, I give up........

No government can craft policies tailored to each and every individual as circumstances are different for each of us. However, there is no law to prevent the self employed from contributing to CPF if they so choose. In fact it is actively encouraged. I have lawyer friends who make regular CPF contributions even though they own their practices.

Anyone with an ounce of intelligence should be able to review the rules and regulations around CPF contributions and use the scheme to their benefit.

Comparisons of EPF returns with CPF are meaningless because we're talking different currencies. The fact that Singaporeans flock to JB for their shopping says it all.

 

[Sinkie]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

No government can craft policies tailored to each and every individual as circumstances are different for each of us. However, there is no law to prevent the self employed from contributing to CPF if they so choose. In fact it is actively encouraged. I have lawyer friends who make regular CPF contributions even though they own their own practices.

Anyone with an ounce of intelligence should be able to review the rules and regulations around CPF contributions and use the scheme to their benefit.

Comparisons of EPF returns with CPF are meaningless because we're talking different currencies. The fact that Singaporeans flock to JB for their shopping says it all.

Whether there is a law or not, nobody knows, but it is not possible for self employed to contribute to CPF, other than topping up medisave account. Try talking to CPF and tell them you want to put cash into CPF and they will tell you no. You didn't know that right?

I'm not asking the govt to craft policies tailored to each and every individual, but to honor the promise to RETURN OUR CPF @ 55. Which part of this statement you still don't understand?

If you do not wish to compare with EPF, then why you compare with NZ pension fund? Clearly, EPF is a better and above board scheme that honors its promise to its members.

Finally, the fact that Singaporeans flock to JB is testament that the general cost of living in JB and Malaysia as a whole is much cheaper than Singapore, unless you also do not understand economics, besides not understanding what a promise means.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Whether there is a law or not, nobody knows, but it is not possible for self employed to contribute to CPF, other than topping up medisave account. Try talking to CPF and tell them you want to put cash into CPF and they will tell you no. You didn't know that right?

I'm not asking the govt to craft policies tailored to each and every individual, but to honor the promise to RETURN OUR CPF @ 55. Which part of this statement you still don't understand?

If you do not wish to compare with EPF, then why you compare with NZ pension fund? Clearly, EPF is a better and above board scheme that honors its promise to its members.

Finally, the fact that Singaporeans flock to JB is testament that the general cost of living in JB and Malaysia as a whole is much cheaper than Singapore, unless you also do not understand economics, besides not understanding what a promise means.

When I was running my own business in Singapore, I contributed monthly to CPF simply by paying myself a monthly salary. All of Singapore's self employed do it that way if they want to grow their CPF accounts or didn't you know that?

When I pointed out the irrelevant comparison between CPF and EPF, I am referring to the rate of return. Returns on currency deposits vary widely as can be seen in the link in my signature. Without going into the realm of currency values, inflation etc, the general rule of thumb is that the stronger the currency, the lower the interest rate and vice versa.

The strength of the SGD is a tremendous advantage for Singaporeans. It ensures that the value of their SG assets is preserved on the international stage. A Singaporean can pretty much cash out and retire anywhere in Asia with money to spare. Not so for the Malaysians. They are stuck in their own backyard.

I fully agree that Malaysia is a cheap country but that's hardly a compliment for our neighbours. Less developed countries are invariably cheaper just as Mexico is cheaper than the USA and Americans flock there for cheap stuff too but how many people want to emigrate to Mexico? The Green Card is still document of choice the world over. The fact that Singapore is an expensive place proves that the PAP is doing an excellent job.

As for this CPF "promise" please show me which document promises that CPF rules are supposed to be cast in stone for all eternity. I'm curious.

 

[frenchbriefs]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

When I was running my own business in Singapore, I contributed monthly to CPF simply by paying myself a monthly salary. All of Singapore's self employed do it that way if they want to grow their CPF accounts or didn't you know that?

When I pointed out the irrelevant comparison between CPF and EPF, I am referring to the rate of return. Returns on currency deposits vary widely as can be seen in the link in my signature. Without going into the realm of currency values, inflation etc, the general rule of thumb is that the stronger the currency, the lower the interest rate and vice versa.

The strength of the SGD is a tremendous advantage for Singaporeans. It ensures that the value of their SG assets is preserved on the international stage. A Singaporean can pretty much cash out and retire anywhere in Asia with money to spare. Not so for the Malaysians. They are stuck in their own backyard.

I fully agree that Malaysia is a cheap country but that's hardly a compliment for our neighbours. Less developed countries are invariably cheaper just as Mexico is cheaper than the USA and Americans flock there for cheap stuff too but how many people want to emigrate to Mexico? The Green Card is still document of choice the world over. The fact that Singapore is an expensive place proves that the PAP is doing an excellent job.

u talk so much shit,most of ur advice is shit.one wonders how u are even rich in the first place.most likely daddy's money and some lucky investments.then u just sit on ur money and talk shit like a pointy hair boss who has no clear what hes saying but hes the pointy hair boss.

comeon alot of us are suffering here in sg,if u truly have the substance why dont u teach us how to be rich?tell us ur path to success,what books to read,what to invest,what jobs to do.we are sick and tired of hearing u talk about ur superiority elitist horsecrap and how ur so anti poor when nothing u say is worth crap.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

u talk so much shit,most of ur advice is shit.one wonders how u are even rich in the first place.most likely daddy's money and some lucky investments.then u just sit on ur money and talk shit like a pointy hair boss who has no clear what hes saying but hes the pointy hair boss.

comeon alot of us are suffering here in sg,if u truly have the substance why dont u teach us how to be rich?tell us ur path to success,what books to read,what to invest,what jobs to do.

I've already done that. Refer to my retirement thread.

 

[frenchbriefs]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

I've already done that. Refer to my retirement thread.

that thread is useless,the minute u put the word "retirement" in the thread its useless,340 pages of people blathering about what country to migrate to,which hookers are the best and how to spend their money.when u wrote that u already have tons of money.

now what we need u is to start a new thread.....how a person living in 2014 singapore with less than 5k in his bank and earning jack shit can save and invest and entrepreneurate his way to millions and billions.yes dont want to hear about retirement,i want to hear about making money.

write about how a person with nothing can make 150k in 5 years.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

that thread is useless,the minute u put the word "retirement" in the thread its useless,340 pages of people blathering about what country to migrate to,which hookers are the best and how to spend their money.when u wrote that u already have tons of money.

now what we need u is to start a new thread.....how a person living in 2014 singapore with less than 5k in his bank and earning jack shit can save and invest and entrepreneurate his way to millions and billions.yes dont want to hear about retirement,i want to hear about making money.

write about how a person with nothing can make 150k in 5 years.

I can only write about what works for me. Everyone has to find their own niche based upon their own skills, their passions and their dreams.

There's no point telling a tone deaf individual how to make money composing music or colour blind person how to give seminars in photoshop colour management.

However the principles that I listed should stand the test of time.

Take yourself for example you seem to be spending an inordinate amount of time in this forum. Surely the first step for you would be to put your time to far better use.

What are your interests? what are your skills?. The answers should nudge you towards making your first million.

 

[frenchbriefs]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

I can only write about what works for me. Everyone has to find their own niche based upon their own skills, their passions and their dreams.

There's no point telling a tone deaf individual how to make money composing music or colour blind person how to give seminars in photoshop colour management.

However the principles that I listed should stand the test of time.

Take yourself for example you seem to be spending an inordinate amount of time in this forum. Surely the first step for you would be to put your time to far better use.

What are your interests? what are your skills?. The answers should nudge you towards making your first million.

like i said u spend so much effort and time telling people how successful u are,how u many millions u made,how everyone else is a loser and they deserve to be poor.how socialism is bad,how rich people deserve everything and poor has only themselves to blame.for someone to make such claims all day long,they must be a expert an intellect on business and making money.

now i dunno what my interests or skills are at this point in life or if it even matters,but i can tell u what i do alot,i enjoy reading.....maybe go down to the library and read a book about land grabbing,maybe a book about history of banking or a investment book or economics in middle east and africa,or maybe some fiction,sci fiction,thrillers,general fiction whatever,or maybe some autobiographies.yes thruout my life,i have an attraction to money,economics and trade and business,even when i was young playing video games,i have more interest in online economies and markets and trade than the games itself.iv dabbled in online poker,even played poker in australia,iv dabbled in the stocks market.....

so when i heard of someone whose experience such immense success and wealth as u,im interested in learning from you,i want to be dazzled by ur knowledge and insights.the process to such greatness must be incredibly deep and complex.....if not why hasnt 90% of us sinkies struck it rich yet?

pls tell us how does the ordinary mortal find the money to buy 2 prime properties 250k each in prime districts back in 1985 when most of our parents couldnt even afford a 70k govt pigeonhole.if u convert to todays rate each of those properties is worth at least 1.2 million each,now how does the poor sinkies afford 2 1.2 million properties on a salary of 1.8k per month?

u should write a book,leong sam's guide to owning 2 one million dollar properties in singapore before the age 40 and retire in new zealand-for dummies.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

so when i heard of someone whose experience such immense success and wealth as u,im interested in learning from you,i want to be dazzled by ur knowledge and insights.the process to such greatness must be incredibly deep and complex.....if not why hasnt 90% of us sinkies struck it rich yet?

Because I have never achieved immense success and I'm not particularly good at anything so I have nothing to dazzle anyone with. I leave that to the Facebook and Google founders, Steve Jobs and other earth moving greats.

All I've been harping about all along is that Singaporeans should see obstacles as opportunities rather than road blocks, that they should follow their passions rather than trying to live their lives according to the expectations of others and that once they have found what they are truly interested in, they should be dogmatic in turning their passions into an income stream.

Complaining about the PAP will get you nowhere. Voting them out will change nothing. Changes to your life have to come from within.

The biggest problem with most Singaporeans is that they spend far too much time worrying about what others think about them. Their choice of jobs, cars, homes, home decor, weddings, holiday destinations, children's education etc are dictated by external expectations rather the rational decisions.

As a result they become paralysed by fear when it comes to making career and business decisions and end up being mere passengers in the vehicle of life rather than being drivers and taking charge of their journeys and their destinations.

I have never boasted about how to become wealthy. All I've advocated is to target a sum of $5 million assets in order to achieve financial independence. If an ordinary bloke like me can do it, anyone can do it. All it takes is one small step a day.

 

[frenchbriefs]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

U know why sinkies are like that?because all their lives they have been fed a bunch of lies.lies and hypocrisy. Meritocracy is a lie.that if u this and that u will be successful. If u are such and such u can be successful. They are constantly bombarded from young if they work hard enough,push hard enough,they will somehow rise to the challenge. But that's not true isn't it,there is no destiny for them,no driver of anything.somebody has to crowd and pack the hawker centers with human bodies.bodies of sinkies. Same with SMRT.

and everything u written?motivational bull crap.if i want to read motivational feel good bull crap i would go read robert kiyosaki or law of attraction or napoleon hill.thats what rich people like to talk about.u are born with a silver spoon,u do not know what its like to wrestle in dirt,the stench of poverty.they are nothing but concepts and self indulgent pontifications for rich people.like lee hsien loong.

motivational books are the most worthless of all.should be removed from libraries and burnt.they are of no value to humanity and serve only to con the stupid.only real information and real knowledge can give u an edge to save urself.

Because I have never achieved immense success and I'm not particularly good at anything so I have nothing to dazzle anyone with. I leave that to the Facebook and Google founders, Steve Jobs and other earth moving greats.

All I've been harping about all along is that Singaporeans should see obstacles as opportunities rather than road blocks, that they should follow their passions rather than trying to live their lives according to the expectations of others and that once they have found what they are truly interested in, they should be dogmatic in turning their passions into an income stream.

Complaining about the PAP will get you nowhere. Voting them out will change nothing. Changes to your life have to come from within.

The biggest problem with most Singaporeans is that they spend far too much time worrying about what others think about them. Their choice of jobs, cars, homes, home decor, weddings, holiday destinations, children's education etc are dictated by external expectations rather the rational decisions.

As a result they become paralysed by fear when it comes to making career and business decisions and end up being mere passengers in the vehicle of life rather than being drivers and taking charge of their journeys and their destinations.

I have never boasted about how to become wealthy. All I've advocated is to target a sum of $5 million assets in order to achieve financial independence. If an ordinary bloke like me can do it, anyone can do it. All it takes is one small step a day.

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

U know why sinkies are like that?because all their lives they have been fed a bunch of lies.lies and hypocrisy. Meritocracy is a lie.that if u this and that u will be successful. If u are such and such u can be successful. They are constantly bombarded from young if they work hard enough,push hard enough,they will somehow rise to the challenge. But that's not true isn't it,there is no destiny for them,no driver of anything.somebody has to crowd and pack the hawker centers with human bodies.bodies of sinkies. Same with SMRT.

We are all capable of independent thought. I grew up in Singapore and was told that CPF would take care of my retirement and that a good degree would secure my future. I listened to this mantra but I knew that I needed to do the calculations myself.

All I had to do was to take out a simple financial calculator (HP used to make great products before the age of the PC) and do some basic math.

It showed me in a matter of minutes that the estimated $900,000 that I would accumulate in CPF based upon salary projections would not be enough for me to retire on without making significant sacrifices in my lifestyle.

I decided there and then that I needed to be self employed if I was to retire at 40. I then took small but regular steps towards achieving that goal. It took me a bit longer and I made it 4 years late. However late is better than never.

 

[frenchbriefs]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

We are all capable of independent thought. I grew up in Singapore and was told that CPF would take care of my retirement and that a good degree would secure my future. I listened to this mantra but I knew that I needed to do the calculations myself.

All I had to do was to take out a simple financial calculator (HP used to make great products before the age of the PC) and do some basic math.

It showed me in a matter of minutes that the estimated $900,000 that I would accumulate in CPF based upon salary projections would not be enough for me to retire on without making significant sacrifices in my lifestyle.

I decided there and then that I needed to be self employed if I was to retire at 40. I then took small but regular steps towards achieving that goal. It took me a bit longer and I made it 4 years late. However late is better than never.

in that case i reccomend PAP raise the minimum sum for individuals like you to about 900k or so.have to keep in consideration successful individuals like u need sufficient CPF for a different lifestyle.

 

[kaipoh]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Hi liar, how come you still have CPF money, I though you give up the citizenshit here you took out all the cpf money.

I see my CPF every time my statement arrives and it certainly makes me feel wealthy.

 

[kaipoh]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

I am 45, single, have these amount of money in my CPF what should I do.

OA medisave acc special acc
$900,000 $38,000 $50,000

I have santosa cove and marina bay condom and a flat in oxley road and the oxley factoy in ubi.

I am planning to leave and move to Aus or Nz any advice?

Because I have never achieved immense success and I'm not particularly good at anything so I have nothing to dazzle anyone with. I leave that to the Facebook and Google founders, Steve Jobs and other earth moving greats.

All I've been harping about all along is that Singaporeans should see obstacles as opportunities rather than road blocks, that they should follow their passions rather than trying to live their lives according to the expectations of others and that once they have found what they are truly interested in, they should be dogmatic in turning their passions into an income stream.

Complaining about the PAP will get you nowhere. Voting them out will change nothing. Changes to your life have to come from within.

The biggest problem with most Singaporeans is that they spend far too much time worrying about what others think about them. Their choice of jobs, cars, homes, home decor, weddings, holiday destinations, children's education etc are dictated by external expectations rather the rational decisions.

As a result they become paralysed by fear when it comes to making career and business decisions and end up being mere passengers in the vehicle of life rather than being drivers and taking charge of their journeys and their destinations.

I have never boasted about how to become wealthy. All I've advocated is to target a sum of $5 million assets in order to achieve financial independence. If an ordinary bloke like me can do it, anyone can do it. All it takes is one small step a day.

 

[Belgarath]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Leongsam is truly a modern Singapore success story.

His commendable example should serve as an inspiration for us all to better our lives.

HUAT AH!

 

[Leongsam]

Re: PAP Should Stop CPF Wayang, Just Return OUR CPF

Hi liar, how come you still have CPF money, I though you give up the citizenshit here you took out all the cpf money.

I have not given up sinkie citizenship. It is one of the best clubs in the world. It would be foolish of me to give it away when I don't have to.