Hmm ... One reason Uncle8888 recently came to know : Lock up this money in the CPF system till their children reach 55 so they can become richer with parental cash support. Do they mean that they are going to leave behind very LITTLE or NO inheritance for their children?
Which is likely to be larger? Inheritance or CPF when their parents have so much surplus cash to think of topping up their children CPF accounts?
Looking at Pennies; but forgetting those Pounds to be picked sooner than expected? Okay. They also mean they will set up Trust to protect the Inheritance too. Then this is smart financial decision! The last time Uncle8888 checked with OCBC Trust; we need minimum of $5M to set up this private Trust. :-(
Last updated : 14 Sep 2019
I am 63 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children.
Currently, two sons and one daughter are working.
I have been doing 20 years of long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that so-called Panda or Koala in the investment world.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2041 @ 85 yrs old.
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