Posts: 1,767
Threads: 14
Joined: Jan 2011
Reputation:
15
11-02-2015, 10:53 PM
(This post was last modified: 11-02-2015, 10:55 PM by corydorus.)
(11-02-2015, 05:19 PM)Temperament Wrote: (11-02-2015, 04:20 PM)investor101 Wrote: (08-02-2015, 07:04 PM)touzi Wrote: (08-02-2015, 05:51 PM)investor101 Wrote: Singapore's policy has always been 'Nobody owes you a living', or should I say 'you die, your own business'. I always keep this in mind throughout my NS and reservist, and I know what I must do if war ever comes.
You should not wait until war comes. When there is war, things maybe chaotic or you could be bombed to pieces before you even put on your shoes. Like a good value investor, you should be forward looking. Serving reservist when you do not intend to stay and fight is like investing in a stock that you do not believe in. Each in-camp is like putting more money into a stock that you see no value.
Not sure how this way of thinking works. There are tens of thousands of foreigners, including PRs [I don't consider PRs as 'locals'] who do not serve NS and explicitly forbid their own sons from serving NS. It helps that their own sons also see NS as nothing more than a burden and a road block to a smooth career.
With regards to the CPF, the CPF returns are basically compounded. But compound interests only works its full magic when the base number is large and allowed to compound over a long period of time. Otherwise, compound interests gives mediocre returns.
For most Singaporeans, due to heavy usage of CPF to pay for overpriced housing, most Singaporeans do not have much CPF money throughout their working lives. Hence, they benefit very little from the theoretical compounding effect of CPF.
I mentioned earlier before along the lines that if from the start, your CPF base sum grows larger and is allowed to compound fast, it really doesn't matter whether you leave your CPF untouched or put in in an SRS account for better returns. You already are in a league way above vast majority of Singaporeans.
Until most Singaporeans are able to grow their CPF egg net throughout most of their working lives, they stand to benefit little from all the fixes our CPF system has recently made. Overpaying for property is probably gonna do many Singaporeans in. But the G have to find a way to always make sure you work your WL. No time to think is best.
Many, many years ago, i met a Taiwanese on Changi.beach and he asked me, "Do you have time to think and be creative." Imagine so may years ago that's how a Taiwanese look at us. Is it any better now or gating worse?
Frankly i do not know. One thing is you need to have strong economic fundamental to support it else what are creativity going to sit on to flourish. And is the value of the citizen there yet on culture, freedom and respect. Are we as a nation there yet ? Who come first ?
One thing for sure is Taiwan graduate monthly salary stagnant for 20 years at S$1K region. Public housing only for the few. Get your order wrong and there is a price to pay for everything. Many are lucky to be able to travel across the straits to find work in the motherland. Can you imagine going to malaysia and Indonesia to find work and be away from your family for decade ?
Posts: 322
Threads: 3
Joined: May 2014
Reputation:
4
Haha there will be never be an end to the discussion because everyone is standing from their ground to see things and comment. When changes occur, there are people who are shortchange and people who benefit from the change. No perfect policy, majority who gain or lose will eventually pave the way for more changes.
Using Tapatalk
Posts: 3,474
Threads: 95
Joined: Jul 2011
Reputation:
17
What's sauce for the goose is sauce for the gander. It doesn't applies in "Animal farm". The question is does it apply in Singapore?
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Posts: 692
Threads: 1
Joined: Dec 2010
Reputation:
7
Budget 2015:
1. CPF contribution ceiling increase from $5k to $6k
2. Up to 6% interest for the first $30k for 55 yo and above people
3. Increase in CPF contribution rate for people 50 yo and above
4. Increase SRS contribution ceiling to $15,300
Cheers!!
Posts: 1,733
Threads: 21
Joined: Sep 2010
Reputation:
31
http://www.singaporebudget.gov.sg/data/b...annexc.pdf
FY2014
Forecast deficit of 1.16 billion.
Revised 0.13 billion.
The forecast deficit of FY15 is 6.67billion.
Posts: 138
Threads: 1
Joined: Aug 2012
Reputation:
8
(23-02-2015, 05:26 PM)egghead Wrote: Budget 2015:
1. CPF contribution ceiling increase from $5k to $6k
2. Up to 6% interest for the first $30k for 55 yo and above people
3. Increase in CPF contribution rate for people 50 yo and above
4. Increase SRS contribution ceiling to $15,300
Cheers!!
I hope you all realize that if wasn't for Roy Ngerng who blew the lid off this matter, we would most likely not have enjoyed this increase in CPF returns.
Thank you Roy!
Posts: 598
Threads: 4
Joined: Oct 2010
Reputation:
15
(23-02-2015, 08:00 PM)investor101 Wrote: (23-02-2015, 05:26 PM)egghead Wrote: Budget 2015:
1. CPF contribution ceiling increase from $5k to $6k
2. Up to 6% interest for the first $30k for 55 yo and above people
3. Increase in CPF contribution rate for people 50 yo and above
4. Increase SRS contribution ceiling to $15,300
Cheers!!
I hope you all realize that if wasn't for Roy Ngerng who blew the lid off this matter, we would most likely not have enjoyed this increase in CPF returns.
Thank you Roy!
Sorry, I failed to realize that and I absolutely don't see any connection between the two.
Posts: 1,343
Threads: 49
Joined: Nov 2010
Reputation:
7
(23-02-2015, 08:07 PM)Ben Wrote: (23-02-2015, 08:00 PM)investor101 Wrote: (23-02-2015, 05:26 PM)egghead Wrote: Budget 2015:
1. CPF contribution ceiling increase from $5k to $6k
2. Up to 6% interest for the first $30k for 55 yo and above people
3. Increase in CPF contribution rate for people 50 yo and above
4. Increase SRS contribution ceiling to $15,300
Cheers!!
I hope you all realize that if wasn't for Roy Ngerng who blew the lid off this matter, we would most likely not have enjoyed this increase in CPF returns.
Thank you Roy!
Sorry, I failed to realize that and I absolutely don't see any connection between the two.
Fully agree Roy has done many a favor.
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
Posts: 692
Threads: 1
Joined: Dec 2010
Reputation:
7
Posts: 939
Threads: 1
Joined: Oct 2010
Reputation:
11
(23-02-2015, 08:00 PM)investor101 Wrote: (23-02-2015, 05:26 PM)egghead Wrote: Budget 2015:
1. CPF contribution ceiling increase from $5k to $6k
2. Up to 6% interest for the first $30k for 55 yo and above people
3. Increase in CPF contribution rate for people 50 yo and above
4. Increase SRS contribution ceiling to $15,300
Cheers!!
I hope you all realize that if wasn't for Roy Ngerng who blew the lid off this matter, we would most likely not have enjoyed this increase in CPF returns.
Thank you Roy! Is it? I thought it should be the Aljunied residents as well? If Aljunied won by pap u think this will happen even with Roy intervention?
|
Homepage
PR Newswire
