cpf Special account shielding

[kelhot2001]

More than 3 yrs to 65 and I will continue to work as long as income is still good.
My income is from overseas and that is why I VC into CPF as a form of forced saving.

What to do after retires? Go "bird" watching at Orchard Road to keep my mind alert?

I am thinking if you have MA, assuming you also disabilites insurance, hosiptalisation insurances. What kind of expense would you incurr at age 85 to 95 assuming you are still capable of basic mobility.

For one, ktv is out, cant have too much good food, what others activities would you have, what else you can spend on with $2k a mth

 

[Tiger9119]

I am thinking if you have MA, assuming you also disabilites insurance, hosiptalisation insurances. What kind of expense would you incurr at age 85 to 95 assuming you are still capable of basic mobility.

For one, ktv is out, cant have too much good food, what others activities would you have, what else you can spend on with $2k a mth

In 30yrs time, depending on inflation rate, 2K may only worth 1K based on today value.

 

[henrylbh]

More than 3 yrs to 65 and I will continue to work as long as income is still good.
My income is from overseas and that is why I VC into CPF as a form of forced saving.

What to do after retires? Go "bird" watching at Orchard Road to keep my mind alert?

Bird watching not good enough. Must exercise with hands and all your 3 legs.

 

[henrylbh]

In 30yrs time, depending on inflation rate, 2K may only worth 1K based on today value.

Later part of your life, expenses will go down except for medical expenses. If you are blessed, medical cost is negligible like in my father's case. His biggest medical expense was about $800 when he was 90

His final cost was about 1700 just 2 weeks before 91.

 

[Tiger9119]

Later part of your life, expenses will go down except for medical expenses. If you are blessed, medical cost is negligible like in my father's case. His biggest medical expense was about $800 when he was 90

His final cost was about 1700 just 2 weeks before 91.

Expenses of $800 now, could be $1600 in 30yrs time, if CPF payout is only $1100, where got enough for those who are above 55yrs this year or few years ago.

 

[henrylbh]

Expenses of $800 now, could be $1600 in 30yrs time, if CPF payout is only $1100, where got enough for those who are above 55yrs this year or few years ago.

If you solely depend on fixed life payouts, like fixed income securities, you must save some of the payouts or have other savings besides cpf.

 

[iMac]

If you solely depend on fixed life payouts, like fixed income securities, you must save some of the payouts or have other savings besides cpf.

In before.."CPF Life Payout should just be considered as a supplementary fund, everybody should have other main form of retirement saving."

 

[maple96]

In before.."CPF Life Payout should just be considered as a supplementary fund, everybody should have other main form of retirement saving."

Basics in Financial Planning 101, Retirement Planning 101!

 

[kelhot2001]

Expenses of $800 now, could be $1600 in 30yrs time, if CPF payout is only $1100, where got enough for those who are above 55yrs this year or few years ago.

I used to debate with my dad born in 1940s. his claim of this

1972, a cup of coffee 10 cent
1972, wanton mee 50 cent

1997, a cup of coffee 50 cent
1997, wanton mee $2.00

2019, a cup of coffee 1 dollar
2019, wanton mee $3.5

Point is if using the same rate to measure from the first 25 years and next 25 years, my coffee will have to be at $2.5, while wanton mee will be $8.00 my today money?

But if I use actually rate of increase(instead of percentage) my coffee in 2044 will probably be $1.5 , while my noodles will be around $5.00 LOL
What happen yet to be seen. As many mention, a sale person always use top of the value show you the frighten senario, rather than the lower end. As long as medical is cover, disabilies is cover, rather safe even at $2000.00 to dollar albeit that it might just be enough

 

[hwmook]

I used to debate with my dad born in 1940s. his claim of this

1972, a cup of coffee 10 cent
1972, wanton mee 50 cent

1997, a cup of coffee 50 cent
1997, wanton mee $2.00

2019, a cup of coffee 1 dollar
2019, wanton mee $3.5

Point is if using the same rate to measure from the first 25 years and next 25 years, my coffee will have to be at $2.5, while wanton mee will be $8.00 my today money?

But if I use actually rate of increase(instead of percentage) my coffee in 2044 will probably be $1.5 , while my noodles will be around $5.00 LOL
What happen yet to be seen. As many mention, a sale person always use top of the value show you the frighten senario, rather than the lower end. As long as medical is cover, disabilies is cover, rather safe even at $2000.00 to dollar albeit that it might just be enough

You have to use the actual inflation rate to estimate. Singapore was a developing country with inflation rate of more than 10% in the 1970s but have slow down to 3% in the 2000s. Going forward, it's unlikely for inflation to go above 3% so a 2-3% estimate will work fine. Your $1 coffee will be around $1.6-$2 in 2044 base on my estimate.

 

[maple96]

I used to debate with my dad born in 1940s. his claim of this

1972, a cup of coffee 10 cent
1972, wanton mee 50 cent

1997, a cup of coffee 50 cent
1997, wanton mee $2.00

Now still can get kopi/teh at 50c at some places, on specific days or time

 

[maple96]

agree.

Unfortunately, pretty sure that this will not be available when I reach 55.... no thanks to idiotic bloggers..

U are right.

CPF SA Hack Part 2

 

[kelhot2001]

U are right.

CPF SA Hack Part 2

This site is a subsidary for CPF?

 

[henrylbh]

I used to debate with my dad born in 1940s. his claim of this

1972, a cup of coffee 10 cent
1972, wanton mee 50 cent

1997, a cup of coffee 50 cent
1997, wanton mee $2.00

2019, a cup of coffee 1 dollar
2019, wanton mee $3.5

Point is if using the same rate to measure from the first 25 years and next 25 years, my coffee will have to be at $2.5, while wanton mee will be $8.00 my today money?

But if I use actually rate of increase(instead of percentage) my coffee in 2044 will probably be $1.5 , while my noodles will be around $5.00 LOL
What happen yet to be seen. As many mention, a sale person always use top of the value show you the frighten senario, rather than the lower end. As long as medical is cover, disabilies is cover, rather safe even at $2000.00 to dollar albeit that it might just be enough

Come to Sengkang block 279. Air-conditioned kopi shop. All day Kopi-o at 50c only. Cheaper than 1997 price

Must support.

 

[kelhot2001]

Come to Sengkang block 279. Air-conditioned kopi shop. All day Kopi-o at 50c only. Cheaper than 1979 price

Must support.

The air from pasir gudang are travel there for free

 

[henrylbh]

U are right.

CPF SA Hack Part 2

I think the hack will be gone sooner or later.

Likely CPFB will plug the loophole on SA shielding together with other changes to CPF at an appropriate time. If CPFIS-SA is not closed, they may require that any SA used for investment be returned to OA, if OA was appropriated to RA to meet FRS at 55.

I also think that CPFB should require that all proceeds from sale of property be returned to CPF, if CPF was used, except for the portion paid by cash. Then it will be similar to CPFIS.

 

[henrylbh]

The air from pasir gudang are travel there for free

I stayed there 5 years very near buangkok mrt and no smell. Punggol may be only.

 

[SBC]

Kovan will be safer, with another 2 rounds of air filter.

 

[zuppeur]

This site is a subsidary for CPF?

I guess Shielding method has more exposure here than this blog site.As long this method not is not shared in popular finance site, I think the impact will be minimal.

 

[henrylbh]

I guess Shielding method has more exposure here than this blog site.As long this method not is not shared in popular finance site, I think the impact will be minimal.

May be many still got outstanding housing loan or little left in OA for shielding SA.