Amy Khor confirms CPF is NOT our money!

[neddy]

CPF or other retirement funds, there are 2 stages.
.1. Accumulation stage
2. Drawing down stage.


1. Accumulation phase is when you put money in and invest in asset classes that suit your risk profile. The idea is highrr risk, better returns. Oz Stocks and property both returns avg 10% over the past 50 years.
2. Draw down phase is when you attend retirement planning seminars and decide on your withdrawal strategy.


In OZ, property is an asset class. I took out CPF to invest in properties. Perth was a backwater town.

Eg. $100k can buy you a 3bedroom house, currently worth $420k. I sold mine at $370k because I did not expect the px to go up and to minimise K gain tax.

Last time no job, cannot borrow from bank. CPF $ great for investment and collecting rental income. With regular rental income stream, can borrow money from bank.

Later with fulltime govt job, banks even wanted me To borrow more from them. Get more investment properties.
Later, I smarter, build houses for investment, Not buy, cos more expensive.

But, in SinkaLand, your accumulation and draw down stages only PAP way, no choice.

After working 10 years in oz, I also qualify for inflation indexxed aged pension as a safety net.

Good for you! I just don't understand why there are so many sinkees who continue to contribute to CPF every month. And yet complain about cannot get back CPF?


KNN, really no logic leh. sinkees really sibeh complicated.

 

[Confuseous]

It is very obvious that the MIWs have been caught with their pants down - and they are at sixes and sevens trying to sound intelligent.
But as people who have never been really affected by all the changes in the laws, it is tough to make sense.
One MP after another has fallen by the wayside - Overtime Tan, Hri Kumar, Shit Say, Amy Khor.
They don't even have a song sheet to sing from. That is how disorganised they are.
All we need now is to have Bargain Hen join in the fray, then it will be truly a bunch of headless (brainless to start with) chickens running around.

 

[chootchiew]

This is exactly the sort of character who needs the minimum sum scheme!

If $50,000 is released to him at 55, based upon your description of his financial abilities, it will be gone in a very short time.

He'll then have no savings, no CPF and at some point, he'll end up with no job. So what is going to do?

boss I have to surrender. You should work as a lawyer, dead man can let you say till resurrect

 

[zeebjii]

boss I have to surrender. You should work as a lawyer, dead man can let you say till resurrect

Why surrender? He's using circular arguments. Always going round and round and conveniently sidestepping the key and indefensible points.

 

[Leongsam]

Why surrender? He's using circular arguments. Always going round and round and conveniently sidestepping the key and indefensible points.

All I do is state the cold hard facts. You can argue with opinions but there comes a point in time when everyone has to accept the truth.