Quite comforting to know this for retirement!

GoldenDragon said:
Best to depend on oneself. Never rely on the govt.
Click to expand...

i agree,when ur reliant on others,u are prisoner to their every whims and demands...ur boss ur parents ur school etc etc....if they can make ur life a living misery they would....best to
 
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Do Sinkie ever wonder why his fuck schemes, rebates, incentives, re-training, re-employ or even those fuck cards ( not credit card lah if got credit card who gives a fuck to his nonsense)..

NEVER DID WORK OUT FOR THESE LOWER INCOMES Sinkies?

Ask any of these ppl.

How have all these years of such nonsense really make a difference to their lives?

One thing is for sure, you are seeing a lot more cardboard/can collecting Sinkie nowadays!

Made a difference it sure did, makes their lives more hellish! LoL
 
frenchbriefs said:
i agree,when ur reliant on others,u are prisoner to their every whims and demands...ur boss ur parents ur school etc etc....if they can make ur life a living misery they would....best to
Click to expand...

That's quite a rationale thinking. Which means we do agree that it's best to take responsibility of our own retirement plans right?
 
Leepotism said:
True. Just return our CPF money at 55. We don't need to rely on the govt. In fact we don't trust our money in your hands.
Click to expand...

Returning our blood and sweat $$$$ will help in our planning. No doubts about that. But I consider CPF $ a write-off already. A bonus if get to touch and smell. Always remember this - govt will take care of itself first.
 
MaxRiley said:
That's quite a rationale thinking. Which means we do agree that it's best to take responsibility of our own retirement plans right?
Click to expand...

Agreed, so why is the government shoving their retirement plan that they own in all entirety down our throats?
 
We have the highest per capita GDP in the world. We also have the highest savings rate in the world. Obviously there is something not right.

There is a host of problems. Housing is one of them. There is more than 90% home-ownership and huge amount of CPF money is invested. So it affects everybody and in a very big way.

All these decades, the government has been selling us the idea that an HDB flat is an asset promising capital gains and a good hedge against inflation. People did not hesitate to use tens/hundreds of thousand dollars for COV in addition to hundreds of thousand of CPF money to purchase HDB flats. People then spent tens/hundreds of thousand dollars on renovation. The government further sold us the idea of asset enhancement. There were MUP, IUP, HIP where homeowners coughed out thousands of CPF money.

All these decades, we had no idea that the Minimum Sum would be raised again and again and by so much.

To appease the people, the government came out with three monetisation schemes. Now, it appears that the government is rescinding on two out of the three schemes - the two that pay $20,000 cash bonus. Rescind in the sense that they start at 65 instead of 55, and do not make any financial sense anymore.

The Silver Support Scheme should not be a replacement of the $20,000 Silver Housing Bonus. We should have the option to take up SHB at 55 and forgo SSS at 65 onwards. The gap between 55 and 65 is very critical to the baby-boomers. So please make monetisation more convenient as promised, not more difficult.

We have reached 3 generations of home-ownership. The government has been saying that Singaporeans are asset rich cash poor. We cannot run away from monetisation now or in the future. Selling and downgrading are inescapable despite many misleading opinions that hungry Singaporeans prefer the luxury of familiarity of surroundings. How the hell to explain the tents for homeless at the beaches?

Six 400 sqf. flats @ 30-yr lease = one 800 sqf. flat @ 99-yr lease. We can save a lot on land/construction as well as free up many bigger flats. The no. of singles and single-member households are growing. Bequest does not make any sense to them. Cluster retirement homes can function as hospices too. Again, saving on resources.
 
soIsee said:
Do Sinkie ever wonder why his fuck schemes, rebates, incentives, re-training, re-employ or even those fuck cards ( not credit card lah if got credit card who gives a fuck to his nonsense)..

NEVER DID WORK OUT FOR THESE LOWER INCOMES Sinkies?

Ask any of these ppl.

How have all these years of such nonsense really make a difference to their lives?

One thing is for sure, you are seeing a lot more cardboard/can collecting Sinkie nowadays!
oL
Click to expand...





Do remember hor,
want to sell tissues, must apply licence hor.
 
There is a host of problems. Housing is one of them. There is more than 90% home-ownership and huge amount of CPF money is invested. So it affects everybody and in a very big way.
Click to expand...

Please stop propagating lies. You are leasing a HDB flat: you don't own anything.
 
laksaboy said:
Please stop propagating lies. You are leasing a HDB flat: you don't own anything.
Click to expand...

This must be the best leasing scheme in the world.

A Singaporean pays $20,000 to lease a 4-room flat in 1977 for 99 years. After, staying in it for 35 years, he can sell it for $400,000, making a profit of $380,000. So I wonder who is the one propagating the lie...and a very stupid one.

People say CPF returns are low. Really? If you keep your money with CPF, you only get 4% returns. But the CPF money invested in a flat makes enormous returns. Yet people are saying CPF returns are low. Yet they say don't realise your returns. Really chio si lang.
 
what about a person whose leasing a 4 room flat today?will the flat go to 8 million 30 years later?already the housing market is starting to tank because the PAP has put the brakes on speculation and immigration....

just curious what happens when a hdb flat approaches the end of its 99 year lease,if it even last that long?

phouse3 said:
This must be the best leasing scheme in the world.

A Singaporean pays $20,000 to lease a 4-room flat in 1977 for 99 years. After, staying in it for 35 years, he can sell it for $400,000, making a profit of $380,000. So I wonder who is the one propagating the lie...and a very stupid one.

People say CPF returns are low. Really? If you keep your money with CPF, you only get 4% returns. But the CPF money invested in a flat makes enormous returns. Yet people are saying CPF returns are low. Yet they say don't realise your returns. Really chio si lang.
Click to expand...
 
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phouse3 said:
This must be the best leasing scheme in the world.

A Singaporean pays $20,000 to lease a 4-room flat in 1977 for 99 years. After, staying in it for 35 years, he can sell it for $400,000, making a profit of $380,000. So I wonder who is the one propagating the lie...and a very stupid one.

People say CPF returns are low. Really? If you keep your money with CPF, you only get 4% returns. But the CPF money invested in a flat makes enormous returns. Yet people are saying CPF returns are low. Yet they say don't realise your returns. Really chio si lang.
Click to expand...



PAP porlumpars no need come here lah..........................go to sgfuck.com................tons of your fellow porlumpars over there...........
 
frenchbriefs said:
what about a person whose leasing a 4 room flat today?will the flat go to 8 million 30 years later?already the housing market is starting to tank because the PAP has put the brakes on speculation and immigration....

just curious what happens when a hdb flat approaches the end of its 99 year lease,if it even last that long?
Click to expand...

Can we take a loan to pay rentals? Why people are so stupid to spend so much renovating rental flats? Can we sell away rental flats on behalf of the landlord?

The question is ownership vs non-ownership. If you still insist that we are leasing, perhaps the entire sales proceeds should go to the landlord, not just the profits (OR LOSSES). You are trying to suggest that if we don't make money, then it is not ownership.

Based on your logic, leasehold private properties are rental properties too. Our banking system must be unsound giving out $billions of mortgage loans and hanging on to fake title deeds.

It is quite different if you are saying the leasehold property that you own has a decaying value after a certain period of time. Roy Ngerng has produced a diagram on it. If it is a rental property, it would be a declining slope from Day-1, not an upward swing and then rapid decline towards the end.

The HDB has been using en-bloc redevelopment to give the impression that declining lease is not a problem. There will come a time when lease top-ups must be addressed. That's why I proposed not later than the 50th Anniversary of our independence.
 
MaxRiley said:
That's quite a rationale thinking. Which means we do agree that it's best to take responsibility of our own retirement plans right?
Click to expand...

GD has a pension ...so, he is still relying on government.

Government has a role. It is just that our government has screwed us through and through over a few decades that we don't know the role of government.
 
You not aware their role is self enrichment.
 
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