Why sinkie like to save money

[starmerck]

Not enough la cpf
You fund your own cpf also, not govt give you money

Orionz has been working in Germany since graduation from his German University. He doesn't have to fund his CPF because he is not working in Singapore

 

[JenL92]

it's immigrant/coolie gene

save already can bring back to teng sua to buy house buy land buy wife and retired

It’s true. U see the amdk always in debt. No save one

 

[Richliao]

Be more specific, everyone should saves...question is how many percent of income per month we talking about? And some may save alot for a few years just to buy a big ticket item too...

 

[Mephist0pheLes]

this

I always find those silver hair tour groups quite sad

I saw many many when I was in angmoland

they save up the whole life, planning to spend the money to tour around the world when they are old/retired

by then they realised their health and body are no longer young

can't walk much, always looking for toilet, weak stomach can't enjoy the local food, 90% of time suffering from aching and headache, some rather stay in the hotel room or tour bus

and how do u know they did not travel when they were younger? jus bcos they saved money for retirement dosnt mean they did not enjoyed in their younger days. not everyone is a poor fk that live pay check to pay check.

 

[kingsfall]

I think the amount you wanna set aside should be also correlated to what kind of standard of living you are expecting. I think when I hit above 60, I would limit my overseas trip to first world destinations

 

[ment0smintz]

CPF help save 37% of base celery alrdy, not enough meh? Still save and long term invest for fug?

ish save for chemotherapy or nursing home?

Cpf is not your money. How many times you want MP to say loud and clear in parliament?

 

[Shion]

cpf $ can suka suka take out at any time ???

 

[British_Bulldog]

I’m saving up for plastic surgery

I wana look like wlh

 

[glarerder]

Cpf is not your money. How many times you want MP to say loud and clear in parliament?

it is if you use it to buy property, pay for children education, pay for healthcare. and you get monthly allowance when you're much older

 

[wutawa]

it is if you use it to buy property, pay for children education, pay for healthcare. and you get monthly allowance when you're much older

Only if those 101 restrictions allow so

Cpf is restriction, savings is freedom

 

[glarerder]

If those 101 restrictions allow so

i went for ultrasound and was shocked to know there is a certain sum i could use to pay for ultrasound with moi medisave happy discovery.. thankfully all is fine..

 

[Aaron_soh80]

CPF help save 37% of base celery alrdy, not enough meh? Still save and long term invest for fug?

ish save for chemotherapy or nursing home?

Bbfa alone can la..cpf enough

 

[Prime 13]

High property prices, high transport prices, high daily expenses, high expenditure, etc for the average income people are chains to keep you eternally working like a dog so that you can continue to contribute to the CPF board and IRAS.

The govt thanks you for being the eternal slave.

Letch me old unker share with chiu an interesting remark i heard.
Someone once remark to me with great conviction, cpf ish great coz without cpf many sinkies ish cannot afford property.

Insai i LOL'ed.

If i rephrase what he said in more technical, it would be cpf ish fuelling property demand, push up prices until sinkies are forced to use sizable chunk of life savings to buyed.

 

[Unic0rn]

Sg Govt should just implement a universal pension system so it’s fair to everyone.

That’s true! Should be a fair and universal national pension system that provides every citizen (that served NS) and their spouse above 50 with the same monthly payouts of S$1,500 to sustain their retirement living costs.

 

[yokine3a]

for emergency funds cuttlefish 6 mths net celerry enough liao

As we age, the harder we can get another job. 6 months saving is definitely not enough de.

 

[Unic0rn]

Borrow from other countries
high corporate taxes from the numerous MNC they have
High income taxes
Even all these also not enough to fund so just keep borrowing

OMG by borrowing? Surely the entire huge nation of majority youths and adults in their prime is able to fund the retirement of the minority elderly in their 50s and 60s that will be perishing soon in a few years?

 

[coyote]

What if cpf ish the one making chiu unable to retire?
What if cpf ish actually causing the problem it ish touted to solve?

LOL!

Those are the people that failed miserably in their life that even cpf cannot help them. Many such people in edmw. Oh wait...

CPF is a tool to help, it is never the problem. The people are.

 

[Clarence NMT]

Where got enough money to save, want invest also hard no money to invest.

U see alot legal loanshark have business leh

 

[yokine3a]

That’s true! Should be a fair and universal national pension system that provides every citizen (that served NS) and their spouse above 50 with the same monthly payouts of S$1,500 to sustain their retirement living costs.

CPFLife is our pension system, except it comes from our own monies, not from govt's pocket. If you have FRS in RA, your month payout is roughly $1500 from 65yo onwards. Before 65, you are on your own.

 

[Unic0rn]

CPFLife is our pension system, except it comes from our own monies, not from govt's pocket. If you have FRS in RA, your month payout is roughly $1500 from 65yo onwards. Before 65, you are on your own.

I already top up to ERS S$370,000 I think maxed out in RA. Waiting to take after 70 for better payouts!