Is the Government Going Bust?

[Leongsam]

I've got zip from my CPF since I haven't given up my citizenship.

You don't have to give up your citizenship in order to withdraw capital gains from property transactions.

I withdrew more than $500,000 way back in the early 90s. There were no questions asked and the money was deposited into my bank account within 10 days.

I have always found the CPF staff to be very efficient and helpful.

 

[Papsmearer]

You don't have to give up your citizenship in order to withdraw capital gains from property transactions.

I withdrew more than $500,000 way back in the early 90s. There were no questions asked and the money was deposited into my bank account within 10 days.

I have always found the CPF staff to be very efficient and helpful.

over 20 years ago is different from today, idiot. Way back in the 90s, I can buy a 5 room HDB flat for $150K. Talk all this history cock for what? Question is whether u can withdraw $500K at age 55 today. If you withdrew $500k over 20 years ago, u must be approaching 80 years old. No wonder u are fucking senile with all the prop PAP drivel u spout here.

 

[Leongsam]

over 20 years ago is different from today, idiot. Way back in the 90s, I can buy a 5 room HDB flat for $150K. Talk all this history cock for what? Question is whether u can withdraw $500K at age 55 today. If you withdrew $500k over 20 years ago, u must be approaching 80 years old. No wonder u are fucking senile with all the prop PAP drivel u spout here.

You don't have to wait till you're 55 to withdraw capitals gains. It can be done immediately after you sell your property assets.

 

[Dragonhead]

...If you withdrew $500k over 20 years ago, u must be approaching 80 years old. No wonder u are fucking senile with all the prop PAP drivel u spout here.

80 yo and sensile? A typical old man, recollect the past, forget the present and do not know the future.

 

[Papsmearer]

You don't have to wait till you're 55 to withdraw capitals gains. It can be done immediately after you sell your property assets.

So the $500K is from capital gains from property sale. Say so lah. Stop lying and saying its from your CPF. u are such an asshole.

 

[johnny333]

You don't have to give up your citizenship in order to withdraw capital gains from property transactions.

I withdrew more than $500,000 way back in the early 90s. There were no questions asked and the money was deposited into my bank account within 10 days.

I have always found the CPF staff to be very efficient and helpful.

Even without the restrictions on the CPF, it is a bad investment. Why settle for a paltry 2.5% when you can get a better return rate elsewhere

 

[frenchbriefs]

Enough for a decent lifestyle even in Spore. What is important is that I can live off the dividens from my investments without having to touch my principal.

Don't want to go into specifics about $ value because what constitutes a decent lifestyle is debatable.

what constitutes a decent lifestyle for you?is the dividends enough for you to up and leave singapore and live in any country u wish comfortably without working?

 

[johnny333]

what constitutes a decent lifestyle for you?is the dividends enough for you to up and leave singapore and live in any country u wish comfortably without working?

Plenty of places are cheaper than Spore. In Canada you don't need to be a millionaire to survive. Good health care is available to all because of the universal health care system. You don't even need to buy a home because it's cheaper to rent. Many necessities are affordable: cars, fuel, electicity. water, public transport,...

However as you get older you are going to face problems with the cold weather e.g. slippery ice in winter, difficulty moving around when there a foot or two of snow on the ground,... That is why some of my Canadian friends are looking to move to Vancouver.

I've lived there so I know that I can adjust to life there but I prefer a tropical climate & that is why I'll probably go live in LOS which has everything I need.

 

[frenchbriefs]

yeah great but i dont want to live in some shithole like thailand neither do i want to migrate to another great ang moh country just to be a welfare leech and locust....

so how much passive income are u generating and how are u getting those yields?

Plenty of places are cheaper than Spore. In Canada you don't need to be a millionaire to survive. Good health care is available to all because of the universal health care system. You don't even need to buy a home because it's cheaper to rent. Many necessities are affordable: cars, fuel, electicity. water, public transport,...

However as you get older you are going to face problems with the cold weather e.g. slippery ice in winter, difficulty moving around when there a foot or two of snow on the ground,... That is why some of my Canadian friends are looking to move to Vancouver.

I've lived there so I know that I can adjust to life there but I prefer a tropical climate & that is why I'll probably go live in LOS which has everything I need.

 

[Dragonhead]

The SG Govt is unlikely to go bust due to its excellent credit worthiness. SG is rated highly like USA, UK and all the prime European countries. The IMF will be more than happy to rescue the Govt if it ever needs the funding. SG has no external debt unlike other countries which depend on World Bank and IMF for help.

The papees have done a good job to maintain this excellent credit rating but they are idiots in other areas, like mass immigration of foreigners, lack of protection for sinkies against job discrimination, allowing PRs to buy subsidized HDB flats, allowing foreigners to turn the country into a shithole, etc.

 

[johnny333]

yeah great but i dont want to live in some shithole like thailand neither do i want to migrate to another great ang moh country just to be a welfare leech and locust....

so how much passive income are u generating and how are u getting those yields?

In Thailand I am looking at the bigger cities like Pattaya, Bangkok, Chiangmai,... they all have good hospitals, internet, ..., everything that I will ever need. With the $$ I have I can live there as an upper income thai.
I can afford things like a car, maid,... which is I think too expensive in Spore. Much of the cost is actually the PAP taxes.

If I choose Canada I have no intention to go there as a welfare leech because I have enough $$ for a middle class lifestyle. As long as you have a job there you can make more there than what you will get on welfare. The main benefit of living in the 1st world is if you are working & have a family. You'll get decent pay & have laws to protect your rights. It's cheaper to bring up a family because the Canadian gov't values children. I know someone who moved there from Spore. He now has 6 kids He could never have such a large family in Spore. Many of the ex-Sporeans I have met have an average of 3 kids. Their children will have access to many respectable ploy technics, community colleges & universities at a subsized cost. Something Sporean don't have access to


I intend to keep my Spore home as I have relatives living there. I think of my home as a place to stay & not as an asset. It is not a HDB unit so even if I exchange my passport I am not forced to sell. If I reveal the $ that I am getting I may be accused of lying or boasting:o Let's just say that I am getting at least $50k per year from my investments