Read? Keep your itchy hands off your CPF Investment Account!!!
Read? I score distinctions in my exam but not in the stock market (Refresh)
Read? How Soon Should You Start Investing Your CPFIS And SRS?
Read? How I Accumulate $1M In CPF OA! (Update)
Hmm .. Uncle8888 is never a Gamer! Never see CPFIS as Game Token! Heng ah!
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Ah!
ReplyDeleteSo that's the "target" audience for the 1M65 movement?
And the "recovery" by big daddy to wean members off CPFIS since the genie is already out of the bottle...
Then again, even if you lose every cent (in cash or CPF) in your twenties, how much can one lose?
Plus you have another 30 years or more to recover! That's the crash got sound way to discover whether we penguin or eagle ;)
What's sadder is when I see people in their 60s lose all their LIFE SAVINGS to scams or poor investment decisions because they have SAVED all their lives (ZERO Earn More experience). Suddenly flushed with money during their retirement, they suddenly believe anyone and everyone can do it!
Its not black and white.
I admire parents who don't coddle their kids. Let them fall, get cuts, break bones. And stop having the mindset someone will bail them out if they mess up...
Crash got sound.
Real life is like a MMORPG - we need to develop our various skill trees!
DeleteKevin,
DeleteThat's a great gaming analogy!
If I find I suck as a DPS (damage per second), I can switch skill tree to DOT (damage over time) my opponents to death.
I poison, burn, and bleed them instead :)
Less sexy than the guy with the big sword or axe, but hey! We get the job done too :)
Quote : "Real life is like a MMORPG - we need to develop our various skill trees!"
DeleteSorry. Not into Gaming so can't related it to MMORPG; but can fully understand that in investing or career or lifelong we need to develop our various skill trees.
CPFIS 2.5% Compound interest is quite decent under low interest rate environment to build up skill tress with cash for DIY investing. Only with approved skill trees; then members can add CPFIS as their war chest.
Another common thinking among younger investors that CPFIS is for long-term investing. Hoot first and think later!
I see this as a debate with no end. At some point, those who invested with their CPF money win and at some other point they wished they had left their CPF money untouched.
ReplyDeleteAt the end of the day, at the individual level, we have to ensure that we have enough money to enjoy our golden years without depending on anyone else.
Life is full of irony and paradoxes. If you are a high earner, you will see your CPF numbers growing by the month and year, and still have cash to buy that landed home and enjoy extra income from your stocks' dividend and rental. You are the one who can afford to take more risk with your CPF money to invest, but then you dont need to, because you have cash to invest.
On the other hand, the low income earner can ill afford to take risk with their CPF monies but they feel compelled to, in order to grow their wealth.
For many, it is either they lose the money early in the life journey or later through scams in the later stage of their life journey. And mind you, scammers are getting more and more sophisticated in our very interconnected world. And they don't even need to bait you with superlative gains anymore. It could be through an innocuous email, whatsapp or sms message.
Even for emails with unfamiliar names and subject titles; I just delete them without reading!
ReplyDeleteWonder when the circle goes around and people call CPF a scam again. 🤣
ReplyDeleteI'm willing to bet that most who lost money in CPFIS had more to do with emotions, rather than what stocks or investments they bought.
Their self-deluded risk appetite didn't face up to the real world volatility level. 😉