CPF updates........

[lifeafter41]

Over the weekend, was having lunch with one of my kaki when we spoke on cpf for retirement......
What he told me was quite surprising. He and the wifey bought their condo a few years back and understand they could have fully paid up their place.

Told me they just received their cpf statement and now it comes in a new format where they actually inform you of the total amount one have with just one glance. His is 450k, while the wifey is 350k. Or total of 800k.. They are in their early 50s.

He told me they are looking forward to take out the sum from their ordinary acct upon reaching 55. I told him they can look forward to a comfortable retirement.

This is excluding any savings they might have.......
I was very happy for them.....after all, their kids are all grown up.

 

[frenchbriefs]

so what?at the end of the day they are still stuck on this stupid island.all the money in the world isnt going to change the fact that they are living a daft sinkie life.

 

[yahoo55]

Nothing surprising, they can just logon to the CPF website to see their statement and total amount with one glance whenever they want.

 

[lifeafter41]

Nothing surprising, they can just logon to the CPF website to see their statement and total amount with one glance whenever they want.

What surprises me was the quantum that each has. Probably within the next 5 years, it's going to hit a million dollars.

And that's just cpf monies. That's why I was very happy for them.
Even with cpf life kicking in, at the high end side, they will be getting 1.9k each. Or 3.8k.

 

[tonychat]

Over the weekend, was having lunch with one of my kaki when we spoke on cpf for retirement......
What he told me was quite surprising. He and the wifey bought their condo a few years back and understand they could have fully paid up their place.

Told me they just received their cpf statement and now it comes in a new format where they actually inform you of the total amount one have with just one glance. His is 450k, while the wifey is 350k. Or total of 800k.. They are in their early 50s.

He told me they are looking forward to take out the sum from their ordinary acct upon reaching 55. I told him they can look forward to a comfortable retirement.

This is excluding any savings they might have.......
I was very happy for them.....after all, their kids are all grown up.

oh pls, CPF amount is a political illusion of a retirement.. how long can 800k last..( not even $1 million, and it is combination and not personal)

If he do not have any passive income that support them nicely , then they can forget about retirement.

The best form of retirement is to own a personal land and grow food. develop ways to get water and energy forever.. then you can retired..

 

[JohnTan]

This shows that PAP did the right thing by getting sinkies to save with CPF instead of 401(k) or pension scheme. CPF is your own money, paid for by yourself and does not burden the next generation.

 

[tonychat]

What surprises me was the quantum that each has. Probably within the next 5 years, it's going to hit a million dollars.

And that's just cpf monies. That's why I was very happy for them.
Even with cpf life kicking in, at the high end side, they will be getting 1.9k each. Or 3.8k.

Good luck to your friends.. CPF is the worst way to retire.. (political illusion on retirement)

CPF vs having land to grow own food

is the same as

having saving vs passive income..

I pity sinkies to have such low minded understanding of life and nature.. no wonder sinkies are a bunch of fucked ups and fucktards who are being screwed daily but numbed by it stupidly.

 

[chootchiew]

Over the weekend, was having lunch with one of my kaki when we spoke on cpf for retirement......
What he told me was quite surprising. He and the wifey bought their condo a few years back and understand they could have fully paid up their place.

Told me they just received their cpf statement and now it comes in a new format where they actually inform you of the total amount one have with just one glance. His is 450k, while the wifey is 350k. Or total of 800k.. They are in their early 50s.

He told me they are looking forward to take out the sum from their ordinary acct upon reaching 55. I told him they can look forward to a comfortable retirement.

This is excluding any savings they might have.......
I was very happy for them.....after all, their kids are all grown up.

A couple of points :

1. Cpf should be viewed as individual sum. Or rather as a per household sum.

2. Your friend forgot about the increasing min sum

3. The actual amount he can withdraw per person is not that much.

 

[JohnTan]

Good luck to your friends.. CPF is the worst way to retire.. (political illusion on retirement)

CPF vs having land to grow own food

is the same as

having saving vs passive income..

I pity sinkies to have such low minded understanding of life and nature.. no wonder sinkies are a bunch of fucked ups and fucktards who are being screwed daily but numbed by it stupidly.

Tell this to the hordes of jiu hu kias who flock over to Singapore to build their CPF accounts.

 

[OrLanChowHorFun]

He told me they are looking forward to take out the sum from their ordinary acct upon reaching 55.

err................can take out money at 55 meh ??!!

 

[winnipegjets]

This shows that PAP did the right thing by getting sinkies to save with CPF instead of 401(k) or pension scheme. CPF is your own money, paid for by yourself and does not burden the next generation.

If that contribution to CPF is invested in the SPY, it would have netted them a few millions. They have been cheated by the government and yet you think they are fortunately. Stupidity of sinkees is beyond comprehension; they can't even make simple investment comparison.

 

[tonychat]

If that contribution to CPF is invested in the SPY, it would have netted them a few millions. They have been cheated by the government and yet you think they are fortunately. Stupidity of sinkees is beyond comprehension; they can't even make simple investment comparison.

With all these stupid restrictions on cpf plus you need to counter inflation.. Wahahaha..

If I grow mango.. I use the seed to grow again.. While stupid sinkies have to pay for the mango according to it price charged by the seller...

While I only need to use the seed and have tons of mangoes.. No need to pay a single cents.. This is how sinkies are being short-changed.

Born in a country without the chance to buy land.. Pathetic..

 

[JohnTan]

If that contribution to CPF is invested in the SPY, it would have netted them a few millions. They have been cheated by the government and yet you think they are fortunately. Stupidity of sinkees is beyond comprehension; they can't even make simple investment comparison.

The newspapers have regular news on sinkies losing their life savings to investment plans like land banking, ostrich farms, public housing in brazil, gold shares, time share. Putting your money regularly in CPF, especially in the special account, has provided CPF investors with steady returns.

 

[winnipegjets]

The newspapers have regular news on sinkies losing their life savings to investment plans like land banking, ostrich farms, public housing in brazil, gold shares, time share. Putting your money regularly in CPF, especially in the special account, has provided CPF investors with steady returns.

Steady returns my foot ...more like day-light robbery.

A balanced global portfolio generates 7 percent annualized whereas CPF pays you a pittance 2.5 percent. Which idiot would want 2.5 percent when 7 percent is available? We are not asking sinkees to invest in those goofy stuff.

 

[eErotica69]

oh pls, CPF amount is a political illusion of a retirement.. how long can 800k last..( not even $1 million, and it is combination and not personal)

If he do not have any passive income that support them nicely , then they can forget about retirement.

The best form of retirement is to own a personal land and grow food. develop ways to get water and energy forever.. then you can retired..

Sure, fuck home to matland and you can pick chicken shit everyday.

Don't say here!! Fuck home!

 

[frenchbriefs]

With all these stupid restrictions on cpf plus you need to counter inflation.. Wahahaha..

If I grow mango.. I use the seed to grow again.. While stupid sinkies have to pay for the mango according to it price charged by the seller...

While I only need to use the seed and have tons of mangoes.. No need to pay a single cents.. This is how sinkies are being short-changed.

Born in a country without the chance to buy land.. Pathetic..

just curious what happens if ur children need new clothes or new shoes,what if they need new books or a new computer,are u going to pay the shop keepers with mangos and bananas?what if something in ur house breaks,the water heater or a pipe or the fridge or the tv,are u going to pay the repairman or shopkeepers mangos and durians as well?this is why i have money,this is why countries and civilisation have money,because mangos and bananas and other food are just a tiny percentage of the hundreds of things i need to buy......everything is just as equally as important to live...... clothes and shoes or a bicycle or car or scooter to get around.....money makes the transactions easier........money is a store of wealth,how long can u store u fucking bananas or mangoes before they are rotten?in the end u need to sell them for money and money is still what u get stupid.

now tonychat all the problems in the world will be solved if u can find a tree that grows money,thats where cpf comes in,CPF HAVE SOMETHING CALLED INTEREST,thats like trees growing money,better still the more money u put inside ur cpf,the more interest it will grow,if i put 100k into cpf i get 3k interest every year,if i put 500k into cpf, i get 15k interest every year.thats like expanding the number of money trees in ur orchard.of course CPF is not the best thing in the world,there are other kinds of trees that grow even more money!!!!!!like stocks or coporate bonds or dividend stocks or reits or real estate!!!!!with a huge selection of money growing trees in ur retirement garden,u can live a stress free and relaxed life anywhere in the world!!!!even bora bora island!!!!!

[video=youtube;8j9s6vcu5KA]https://www.youtube.com/watch?v=8j9s6vcu5KA[/video]

 

[KeneOtino]

Nothing surprising for me. Basically I like the idea which they are thinking.

 

[tonychat]

just curious what happens if ur children need new clothes or new shoes,what if they need new books or a new computer,are u going to pay the shop keepers with mangos and bananas?what if something in ur house breaks,the water heater or a pipe or the fridge or the tv,are u going to pay the repairman or shopkeepers mangos and durians as well?this is why i have money,this is why countries and civilisation have money,because mangos and bananas and other food are just a tiny percentage of the hundreds of things i need to buy......everything is just as equally as important to live...... clothes and shoes or a bicycle or car or scooter to get around.....money makes the transactions easier........money is a store of wealth,how long can u store u fucking bananas or mangoes before they are rotten?in the end u need to sell them for money and money is still what u get stupid.

stupid fuck, i am referring to retirement... you dun understand english???? why are there stupid people keep harping the same deviated topic??? you want me to give you an answer to your question.. i suggest you try google. i dun give answer to stupid fuck... waste my time. THere are many people in the world living like what i have described..

i guess empty vessel makes the most noise .. in your case..stupid noise.

 

[ginfreely]

Steady returns my foot ...more like day-light robbery.

A balanced global portfolio generates 7 percent annualized whereas CPF pays you a pittance 2.5 percent. Which idiot would want 2.5 percent when 7 percent is available? We are not asking sinkees to invest in those goofy stuff.

Yes other country like Australia superannuation (CPF equivalent) allows people to choose the fund that they wish to invest in. There are many to choose from and the returns of two funds at each end of performance spectrum is 3.9% and 8% based on ten years history according to this website.

https://www.google.com/url?sa=t&sou...EWQpCeC0xeM_ooJHA&sig2=RhbbQW6pd8xlrfHDipE1-g

 

[frenchbriefs]

stupid fuck, i am referring to retirement... you dun understand english???? why are there stupid people keep harping the same deviated topic??? you want me to give you an answer to your question.. i suggest you try google. i dun give answer to stupid fuck... waste my time. THere are many people in the world living like what i have described..

i guess empty vessel makes the most noise .. in your case..stupid noise.

bro im pretty sure the noise that me and many others are making are stupid to you because ur golf ball size brain is too small to comprehend anything said.

tonychat u are truly the biggest waste of human life on this planet