Retirement Withdrawal Strategy

[zoneguard]

You sound like an educated person in your posts, but not quite so when you sweepingly bash crypto like that. There are crypto and there are crypto.

I wasn't aware my views expressed on a public forum carry much weight - does it?
Anyway my value system disagree with something I consider as a ponzi scheme built on a glorified linked list. How others build wealth on it is none of my concern but I don't want to help perpetuate it.

If you study financial history, there are many examples of schemes like this that later proved the statement:

"if something sounds too good to be true, it probably is"​

I know I am not alone in my thinking and many smarter and richer people think likewise. Regulators all over the world are also coming in. Shall we let history be the final judge and agree to disagree?

 

[little pupsky]

I wasn't aware my views expressed on a public forum carry much weight - does it?
Anyway my value system disagree with something I consider as a ponzi scheme built on a glorified linked list. How others build wealth on it is none of my concern but I don't want to help perpetuate it.

If you study financial history, there are many examples of schemes like this that later proved the statement:

"if something sounds too good to be true, it probably is"​

I know I am not alone in my thinking and many smarter and richer people think likewise. Regulators all over the world are also coming in. Shall we let history be the final judge and agree to disagree?

Yes, I agree to disagree. Partly because this thread is not about crypto. But also because your post I'm quoting here tells me quite clearly now how little you seem to know about this space and also how biased you seem to be.

 

[kickass22]

Crafting an investment policy statement and walking the spouse through the document helps to start this narrative. I learnt this from the Bogleheads forum.

Crafting is not the issue. Its walking the spouse through it that is the problem. Getting them to understand it and why we are doing it. Sometimes they are just not into it. They don't see the value in it and sometimes to them its superstitious to talk about these and thus they avoid .

sigh.

 

[chrisloh65]

You sound like an educated person in your posts, but not quite so when you sweepingly bash crypto like that. There are crypto and there are crypto. And having crypto doesn't mean all in crypto. And the crypto multi-millionaires are probably laughing at your statement all the way to their banks, DEXs, cold wallets whatever.

The crypto multi-millionaires will definitely and surely be laughing all the way to bank by selling to all those people being conned to get into all those crypto shiit-coins that looks very much tulip ponzi scheme mania, LOL!

 

[Okenba]

Crafting is not the issue. Its walking the spouse through it that is the problem. Getting them to understand it and why we are doing it. Sometimes they are just not into it. They don't see the value in it and sometimes to them its superstitious to talk about these and thus they avoid .

sigh.

This is a big reason to seek to simplify investments. Make things as simple as possible and as automated as possible. Then, maybe all the spouse will need to do is to toggle the "Reinvest/Payout Dividends" box...

 

[little pupsky]

The crypto multi-millionaires will definitely and surely be laughing all the way to bank by selling to all those people being conned to get into all those crypto shiit-coins that looks very much tulip ponzi scheme mania, LOL!

Agree. Shitcoins are not worth buying. As I’ve said, there are crypto and there are crypto.

 

[dork32]

You don't need mathematics for this, you just need to think a bit of the expected outcome.

However, you can still buy for luck and not for probability.

you pit your luck vs the mathematics of singapore pools, who do you think will win?

it is like playing a game of dice. odds 1 to 1. 1,2,3,4 i win, 5 and 6 you win. you want to play with me?

 

[dork32]

I wasn't joking when I said it could reach 4k in a previous message.
If you try the CPF life estimator:
ERS (279k) and payout at 65: $2230/mth
ERS (279k) and payout at 70: $2920/mth

And that is without topping-up to ERS every year.
If you do that every year, you should just cross the $4k/mth mark.
And that's for 1 person. Not bad for CPF life.

this is only a bit true.
if you are 55 today, have 279k in your ra, your cpf life payout is 2920 a month in 15 years time
you have not factored in inflation.
if you need 3k a month to survive today. it means that 2920 will not be enough for you in 15 years time.

 

[dork32]

I wasn't aware my views expressed on a public forum carry much weight - does it?
Anyway my value system disagree with something I consider as a ponzi scheme built on a glorified linked list. How others build wealth on it is none of my concern but I don't want to help perpetuate it.

If you study financial history, there are many examples of schemes like this that later proved the statement:

"if something sounds too good to be true, it probably is"​

I know I am not alone in my thinking and many smarter and richer people think likewise. Regulators all over the world are also coming in. Shall we let history be the final judge and agree to disagree?

i do believe that there is money to be made in bitcoin.

but you are so right about values. the bitcoin behaves makes it unsuitable for my portfolio.

i also dislike one point about bit. it moves so rapidly just becoz the tesla guy say something. wat do you think mr tesla did before he made those speeches public

 

[little pupsky]

i also dislike one point about bit. it moves so rapidly just becoz the tesla guy say something. wat do you think mr tesla did before he made those speeches public

If you look at recent trends, crypto especially the blue chip ones do not fluctuate as much in response to what “the tesla guy” says, as compared to earlier this year.

 

[kickass22]

You don't need mathematics for this, you just need to think a bit of the expected outcome.

you pit your luck vs the mathematics of singapore pools, who do you think will win?

it is like playing a game of dice. odds 1 to 1. 1,2,3,4 i win, 5 and 6 you win. you want to play with me?

Isn't that why its called Luck? because you know the odds are against you and if you win still, you were lucky!

 

[henrylbh]

Is there any limits to topping up to ERS? Can you do it all the way to age 70 or later? I have not seen it written explicitly, that is a good idea.

There is nothing written to prevent you from topping up all the way to age 70 and beyond. My father had top up 3 months before turning age 91 and if he's still alive, he will continue to receive top up from me

 

[hwmook]

There is nothing written to prevent you from topping up all the way to age 70 and beyond. My father had top up 3 months before turning age 91 and if he's still alive, he will continue to receive top up from me

Then I will just keep topping up for my wife. Base on statistics, I will probably leave 13-14years before her so need to plan for her.

 

[BBCWatcher]

Yep, agreed, "Don't forget your spouse/partner." There are many couples with one spouse flush with CPF funds and the other spouse not even collecting maximum available bonus interest. Fix that!

 

[celtosaxon]

Yep, agreed, "Don't forget your spouse/partner." There are many couples with one spouse flush with CPF funds and the other spouse not even collecting maximum available bonus interest. Fix that!

I think there are two reasons people might hesitate, 1. if their marriage is shaky, 2. if they don’t like the risk/reward ratio or lockup period for CPF funds.

 

[hwmook]

I think there are two reasons people might hesitate, 1. if their marriage is shaky, 2. if they don’t like the risk/reward ratio or lockup period for CPF funds.

I am definitely group 2, I am investing the money for the whole family but as age get higher, runway get shorter so I don't mind top up when I am old.

 

[dork32]

Isn't that why its called Luck? because you know the odds are against you and if you win still, you were lucky!

exactly like wat i said, if you are innocent and naive, you will try your luck against the odds

if you can count a bit, you will not go against it.

another word of innocent and naive is stupid

anyway my maths tells me to buy $1 toto everytime there is a draw.

 

[celtosaxon]

It’s the same reason I go for index funds, odds are against beating the index

 

[dork32]

It’s the same reason I go for index funds, odds are against beating the index

on index funds: if you do a linear regression for s&p or dow for the last 10 years, you can see a general uptrend. it just means the odds are that there is an upward trend for these index.

but if you a regression on sti, it looks very flat.

 

[zoneguard]

but if you a regression on sti, it looks very flat.

There are now world indices such as MSCI ACWI index or FTSE All-World index. We don't necessarily have to constrain ourselves to SGX.