I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Wednesday 13 August 2014

Just one-fifth of Singaporeans confident CPF will meet retirement needs: Survey

SINGAPORE: Just one in five Singaporeans are confident their Central Provident Fund (CPF) savings will meet their retirement needs, according to a survey released by Manulife on Wednesday (Aug 13).

According to the quarterly survey, conducted online with 500 respondents, 47 per cent thought their CPF savings would not be enough to cover their retirement expenses, and 44 per cent felt the returns were too low.

Nearly two-thirds (63 per cent) of respondents felt there should be greater flexibility in the withdrawal of their CPF savings, while 56 per cent said CPF contributions from employers and the Government should be raised.

Just 32 per cent of respondents said they actively managed their CPF – meaning that they review and, if needed, rebalance their portfolio at least once every six months – and only 18 per cent were satisfied with the range of investment choices currently available for CPF funds. A total of 59 per cent felt there should be more education on retirement planning.

About 45 per cent of respondents said they would withdraw a lump sum from their CPF savings at age 55 after leaving the required Minimum Sum. Averaged out, those that preferred to withdraw a lump sum would deposit 30 per cent into a bank account, use 18 per cent to invest in stocks, bonds or mutual funds, set aside 11 per cent for travelling and 10 per cent to buy property. The remainder would be used for other purposes, such as to pass on to their children or buy an annuity.

6 comments:

  1. I just wonder: If a person can set aside the Minimum Sum, and still can use 10 percent of the withdrawn sum to buy property, they must be having very, very high amount of CPF savings.

    ReplyDelete
    Replies
    1. Present class of uncles and aunties who didn't take the home upgrading path should have enough in their CPF account as they should have bought their first home less than 6 digit number.

      Delete
  2. Better way is to downgrade from 5-room all the way to eventually a studio. This is one way to use your asset for cash flow. Of course this means you do not have to leave a house behind for anyone.

    ReplyDelete
  3. Nvm lah....don't leave anything for anyone. Ppl wld not work hard if they know they wld get something for free.

    ReplyDelete
  4. This comment has been removed by the author.

    ReplyDelete
    Replies
    1. It may be true for some people but not all of us are born equal.

      Delete

Related Posts with Thumbnails