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Wednesday, 23 October 2019

Real CPF OA and SA balances for Singaporeans when they were in their 40s


Read? Singaporeans' education, employment, wage outcomes have improved over the generations: MOF study

 Hmm ...

 So FAs are right. 

 Many Singaporeans cannot depend on their CPF to retire!

 Uncle8888 is with Gen 2 (as at June 1999)



Posted by Createwealth8888 at 20:40
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10 comments:

  1. Createwealth888823 October 2019 at 20:45:00 GMT+8

    We can see the reason why last few years CPF Top up are hot articles in the investment and financial cyber space in Singapore

    ReplyDelete
  2. Createwealth888824 October 2019 at 09:08:00 GMT+8

    For CPF OA; it should have another chart showing outstanding housing loan with accrued interests in their 40s

    ReplyDelete
    Replies
    1. Small Time Investor24 October 2019 at 21:27:00 GMT+8

      Uncle 8888

      How and what about the lease buy back scheme?

      Delete
    2. Createwealth888824 October 2019 at 21:34:00 GMT+8

      Is CPF reading our comments? LOL!

      CPF should provide charts for all CPF related money to give us complete picture of retirement planning

      Delete
  3. Spur24 October 2019 at 16:16:00 GMT+8

    Hi Uncle8888,

    Gen 2 & Gen 3 emphasis on property & upgrading. May still be better off than leaving in CPF. Just that now the headache is how to monetise the capital stuck inside brick & mortar, without affecting their current lifestyle? Most solutions will require some downgrade of living standard.

    Big jump from Gen 3 to Gen 4. I suspect due to higher education & hence salaries, as well as reduced emphasis on upgrading or investment properties unless household income is well above 70th percentile.

    Right now with rental yields of most new condos from 2.5% to 3%, and enbloc potential becoming harder, CPF offers much better risk-reward. Hopefully govt doesn't amend the CPF Act soon! Haha!

    With the 1st timer grants, BTO pricing & average starting salaries of graduates, I think the affordability of HDBs is now almost back to early 1990s or late-1980s level.

    I won't be surprise if Gen 5 OA+SA median balance by 2029 will be $250+K.

    ReplyDelete
  4. Unknown24 October 2019 at 18:04:00 GMT+8

    CPF Is not our money when we are still alife is PAP control money so to control their sit and salary

    ReplyDelete
  5. Unknown25 October 2019 at 07:10:00 GMT+8

    CPF is a necessity when it comes to raising a family

    ReplyDelete
  6. Unknown25 October 2019 at 08:14:00 GMT+8

    after deducting interest given by govt the remain if excess of basic retirement sum then will be able to withdraw out.

    ReplyDelete
  7. Shoebox Life12 January 2020 at 11:05:00 GMT+8

    I am Gen 4. I think we should not put too much money in a flat since capital gain is questionable unless you intend to monetise it by renting out after enjoying all the free money cpf grants when purchasing time.

    ReplyDelete
    Replies
    1. CreateWealth888812 January 2020 at 11:12:00 GMT+8

      True. Buying flat two or more level below our means will put more money in CPF to compound and bigger cpfis as war chest

      Delete

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