Is $95K scary? Well, I don’t think so, or at least it’s a lot less scary than home prices in Singapore. It’s really weird to me how so many people think buying S$1 million plus homes is nothing to worry about but putting a tiny fraction of that into CPF causes great angst. It’s bizarre, so much so I think we need more psychiatrists in Singapore.
I’m not so sure about that. I suspect that Venn diagram has a lot of overlap.
Do some self employed persons contribute $37,740 which is the max to OA, SA, MA annually? That's $3145 monthly, high earner leh. If a young couple earns $7k combined. 37% combined contributions to CPF is only $2590 monthly. If over 55, on top of the Maximum To Contributions, can save cash to CPF for 2.5% interests , to the maximum of whatever OA that was used for your housing. Anyway all under My messages part of your own online CPF using Singpass. Most elderlies usually low SES feels that they (owe) CPF actually means that they owe themselves the same payouts that majority are receiving upon draw down date from 65. Tell them to eat grass and get a few $ more if they delay the draw down at 70? Our local elderlies are so "kuay- kuay" and by 70 they lack so many correct nutrients!
why not? those businessman/woman can afford to do so
Many, but that's not the relevant question. The question is how many households have total real estate holdings valued well in excess of S$95K (the not relevant number, but more on that in a moment). "Lots" is the answer to that. Real estate investing is a major pursuit in Singapore. (Or perhaps you haven't noticed?) N.B. "Lots" doesn't hazard a percentage, but it's definitely at least nontrivial.dork32 said:
Which is not relevant to this particular comparison, between an "all three account" Voluntary Contribution and a direct Retirement Account top up. The former is limited to the remaining distance (if any) to the CPF Annual Limit, S$37,740 or less. The VC earns 2.X% interest, and the RA earns 4.0% interest with a 3.X% IRR obtainable. In other words, the RA is clearly the winner in terms of returns. In terms of liquidity, the VC wins, but if you have enough (or more than enough) liquidity already....
You would certainly understand being out of touch since you own and operate a private automobile in Singapore. The median Singaporean household doesn't do that, a statistical fact that you find difficult to grasp.
You would certainly understand being out of touch since you own and operate a private automobile in Singapore. The median Singaporean household doesn't do that, a statistical fact that you find difficult to grasp.
BBCWatcher assumes that this forum has a lot of non Singapore residents maybe
seems like the case
