Congrats Uncle!! That's a big return through all the shenanigans of the past almost 2 decades: dotcom bust, 9/11, Enron/Aurther Anderson collapse, SARS, GFC.
That's why I advocate not using CPF-OA to pay off your property, as much as possible. I not being pro-PAP lah, just realistic.
Ok ,ok, for those really low take-home pay, maybe not much choice. Like "$1K can still buy HDB" type of low pay.
But for majority of Sinkies, what I see is they have sufficient take-home pay, but instead of saving & investing wisely, they either go lifestyle inflation or speculate on stocks, and use up all their monthly OA to pay mortgage.
And after 20-30 years I keep hearing things like no money to retire, govt should return CPF at 55, why CPF so little money, etc etc. Which I am most fedup with.
I really think PAP put the nail into the coffin for most Sinkies retirements when in 1986 & 1988 they passed the amendments to CPF Act to allow usage for private property & resale HDB.
Congrats Uncle!! That's a big return through all the shenanigans of the past almost 2 decades: dotcom bust, 9/11, Enron/Aurther Anderson collapse, SARS, GFC.
ReplyDeleteThat's why I advocate not using CPF-OA to pay off your property, as much as possible. I not being pro-PAP lah, just realistic.
Ok ,ok, for those really low take-home pay, maybe not much choice. Like "$1K can still buy HDB" type of low pay.
But for majority of Sinkies, what I see is they have sufficient take-home pay, but instead of saving & investing wisely, they either go lifestyle inflation or speculate on stocks, and use up all their monthly OA to pay mortgage.
And after 20-30 years I keep hearing things like no money to retire, govt should return CPF at 55, why CPF so little money, etc etc. Which I am most fedup with.
I really think PAP put the nail into the coffin for most Sinkies retirements when in 1986 & 1988 they passed the amendments to CPF Act to allow usage for private property & resale HDB.
Hopefully more CPF members understand Moral of the Story!
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