Quote:
Originally Posted by TMNT99
That is why for people like us not born with silver spoon, it is important to use CPF SA to it greatest effect, starting at an early age. My step 2 has already provided about 3K/month (75%) with CPF returns. Step 3 is to get another another 1K/month more to reach 4K (25%) or more. Anything I managed to accumulate in step 3 is a bonus to a better quality of retirement. I am sharing this for the benefit of under 30 years old because for old fart like myself, starting in our 40s maybe too little too late. We need to own our problems before we can be empowered to make a positive change!
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I don't believe in CPF. The rules are always changing but fundamentally you need to realise that our CPF is used to fund gov expenditure through issuance of ultra long term bonds. As our population is aging, there are less and less contributors but more and more payouts. Its just unsustainable. Kindalike a legal ponzi scheme. As in all ponzi schemes the only way around it is to lock up your funds for longer. That's why you see withdrawal age and min sum keep increasing. I won't be surprised in another 15-20 years withdrawal age will be increased to 70 and min sum is $500k. That meams most people just won't get their cpf money back.