Read? Investing Your CPFIS - Not So Easy!
Ha ha! Now article on SundayTimes.
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24 minutes ago
I topped up my RA using cash to the prevailing ERS of $271,500. Moving forward I will continue to top up my RA to future prevailing ERS annually.
ReplyDeleteI do use some of OA to buy bank stocks since March Covid19 and will continue to do so when the price makes sense
Forget to add, I also top up my wife's SA to prevailing limit of $181,000. She is 49 this year
DeleteCongratulations Siew Mun. Very well planned and executed move, especially on your dual shielding of your OA & SA last month! Think you are the only one who has successfully pulled that off!
ReplyDeleteCPF is nest egg and safety net. Purpose of having a safety net is so that one dares to take risk in more dangerous stuff for higher returns. However, one should not take risk with the safety net itself. That is how I will manage my own money.
ReplyDeleteI also read this article this morning. Just feel that the guy is funny when no one can force or con him into using his CPF for investment. Maybe it is just a “foil” by some organization to create awareness?
ReplyDeleteMy friend just asked me if he should use his CPF to invest. I told him to just let it compound.
Use SRS to invest is better!
May be the pain in them is so great that push them to do something to show lesson learnt to others.
DeleteKor Kian Beng
Mon, Mar 29, 2010
The Straits Times
RETIRED sailor Goh Tor Zin said he lost $350,000 of his Central Provident Fund savings through bad stock market investments, and yesterday made a radical suggestion at a ministerial dialogue.
The 59-year-old Kampong Kembangan resident sought a ban on using CPF money for such investments, saying the CPF scheme should stick to its original aims of helping Singaporeans save for their retirement, medical and housing needs: 'When I retired, I collected only $35,000. I lost $350,000. The sum may be small for some, but for me, I can buy many packets of chicken rice.'
Mr Goh, who is unmarried and lives with his 91-year-old father in a five-room Lengkong Tiga flat, said he made a similar suggestion to the CPF when he collected his CPF money on turning 55: 'They told me that I don't have to buy (shares), and that no one forced me to do so. I said, 'Yes if you don't sell drugs, I won't buy drugs. So you are not wrong, I am also not wrong'.'
Read Resident wants ban on CPF cash for investments
Same as second hand smoke. You don't sell. Where got second smoke? LOL!
DeleteHi Uncle8888,
ReplyDeleteSo another data point of being able to do "property refund" back to OA even after 55... 🤔
Can MPs pick up this and submit as one of motions on how to help senior Singaporean to make their excess cash work harder? In CPF, we trust!
Delete