I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
Good session. I believe we need to consider quality of life when it comes to our retirement age. What's the Pt of retiring with money at 70 when one has a failing health? 55 is the sweet spot for most human beings.
True, the goal post keep shifting. Imagine you go for ERS at 55 and then the Government announces that your retirement age is 80. And you live for 1 year (81) before you go up lorry. Thanks to your CPF contribution country earn interests from your money ah. Thank you thank you.
I have worked out not worth to go for ERS. I will get almost same payout as ERS from the interest gained after 65 from CPF OA plus my FRS monthly payout if I continue working until 65.
There is no RIGHT or WRONG answer on how to utilize the CPF scheme, every individual have to appreciate and understand his/her own circumstances. Whereas, the Government present primarily goal is to ensure, the CPF funds payments can be stretched-out until 85-years age at least vis-a-vis previously on lump-sum take-out all can be squandered within a couple of months.
i just hate how CPF doesnt want to estimate your monthly payouts at 65 if you arent 55 yet. My husband is 53 and we still dont have an estimated so we cant plan as yet.
Your payment for retirement should not depend on future generations, but from your funds contributions to the insurance plan. Why consider future generations to provide your retirement payout. More is to consider if the insurance fund is properly managed.
Would Mr @Ku Swee Yong do an analysis on the following,.. 1. With the SG Population, How much of the CPF are tied-up to the Housing Mortgages ? 2. What will happen, say if the Property Prices Drop,..will such parties be asked to top-up in Cash ? 3. Based on such senarios,..is it correct that there are too many Vested interests here that MUST push up Property Valuation Prices, in order to sustain this Mathematical Model ?
The more they spend, they more they will push back the age limit. They have no concrete solutions and can only use our savings for their use. Next GST will keep going up to an unsustainable level... We need to spend more with less.
KSY is very careful with his words. In short, from any investment standpoint, the risk (a.k.a uncertainties) is always part of the calculation. He is saying that he has looked at the probability of policy changes over time and has weighed the risks. Given this, it is better to take back some control, especially to make sure his returns are ahead of USA inflation rates. (In the end, we are all tethered to America’s interest rates). I am thinking the same as well. Going to ERS is too risky especially when the money will be gone and nothing left for our children.
remember that beyond 85, other than medical, your daily expenses will plummet. Medical is just to prolong life, but by then, I am not sure about the point of prolonging while having no reason
while i have found lion infinity s&p 500 and Amundi Prime with Endowus, i am still very unhappy with the abolishment of cpfsa. i project that i would easily have 450k in my cpfsa at 55. at that amount, i have been denied an annual guaranteed sum of (4%-2.5%)×450k = 6.8k. multiply that by 30 years to 85, its a staggering sum of 200k+. LW denied me my $200k, i will deny him my vote.
Wasted my time watching this, as some of the details are incorrect and there is no specific rationale provided EXCEPT to ask people to contact them so they can refer them to their partners and friends who will sell them insurance products etc.....sigh
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@AlilatTiamiyu That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@MurraysColemans My advisor is *MARGARET MOLLI ALVEY*
You can look her up online
Nah I Can't say I can relate, *MARGARET MOLLI ALVEY* charge is one-off and pretty reasonable when compared to what I benefit in returns.
A small comment - CPF proceeds are bequeathed by nomination, not by Will.
just a suggestion, perhaps use a mic. barely audible. what a waste to an interesting interview.
We’re definitely looking to improve the audio in future videos
Can’t agree more. Lousy recording.
Ya lor
agree. Plenty of sale going on on shop, Lazada to get a basic mic to make a big difference :)
Life is uncertain, locking a big lump sum to CPF life and allow monthly small sum withdrawal is a no-no.
Tomorrow is uncertain too so u shud spend whatever ur lump sum is today. Yes yes today
Good session. I believe we need to consider quality of life when it comes to our retirement age. What's the Pt of retiring with money at 70 when one has a failing health? 55 is the sweet spot for most human beings.
True, the goal post keep shifting. Imagine you go for ERS at 55 and then the Government announces that your retirement age is 80. And you live for 1 year (81) before you go up lorry. Thanks to your CPF contribution country earn interests from your money ah. Thank you thank you.
I have worked out not worth to go for ERS. I will get almost same payout as ERS from the interest gained after 65 from CPF OA plus my FRS monthly payout if I continue working until 65.
There is no RIGHT or WRONG answer on how to utilize the CPF scheme, every individual have to appreciate and understand his/her own circumstances. Whereas, the Government present primarily goal is to ensure, the CPF funds payments can be stretched-out until 85-years age at least vis-a-vis previously on lump-sum take-out all can be squandered within a couple of months.
i just hate how CPF doesnt want to estimate your monthly payouts at 65 if you arent 55 yet. My husband is 53 and we still dont have an estimated so we cant plan as yet.
the cpf website has an estimator tool for that, depending on the amount you will want to have at 65 years old
Your payment for retirement should not depend on future generations, but from your funds contributions to the insurance plan. Why consider future generations to provide your retirement payout. More is to consider if the insurance fund is properly managed.
Would Mr @Ku Swee Yong do an analysis on the following,..
1. With the SG Population, How much of the CPF are tied-up to the Housing Mortgages ?
2. What will happen, say if the Property Prices Drop,..will such parties be asked to top-up in Cash ?
3. Based on such senarios,..is it correct that there are too many Vested interests here that MUST push up Property Valuation Prices, in order to sustain this Mathematical Model ?
The CPF numbers don't look encouraging. The government will definitely push back the withdrawal age and lower the payout.
You might also consider topping to the prevailing FRS until PEA to increase monthly payouts and claim tax relief
The goalpost had shifted a few times, perhaps even shrunken!
The more they spend, they more they will push back the age limit. They have no concrete solutions and can only use our savings for their use. Next GST will keep going up to an unsustainable level... We need to spend more with less.
Moving withdrawal age will be unpopular … not a move ruling party will do
When u need money and a lot locked in ERS, I am SCREWED 😢
Thanks for sharing your insights!
The echo is affecting the interview. Thought is a good interview but cannot finish😢
We uploaded the same video with better audio after this one.
The goal post shifting constantly lol
? no problem with the audio leh...
KSY is very careful with his words. In short, from any investment standpoint, the risk (a.k.a uncertainties) is always part of the calculation. He is saying that he has looked at the probability of policy changes over time and has weighed the risks. Given this, it is better to take back some control, especially to make sure his returns are ahead of USA inflation rates. (In the end, we are all tethered to America’s interest rates). I am thinking the same as well. Going to ERS is too risky especially when the money will be gone and nothing left for our children.
unfortunately can hardly hear anything
remember that beyond 85, other than medical, your daily expenses will plummet. Medical is just to prolong life, but by then, I am not sure about the point of prolonging while having no reason
I am sure you will want to prolong your life after 85 even if you have lesser money
Did they even test the mic…?
The title attracted me to click on this but I ended up watching two mime artists. Maybe should redo this session with better audio.
Are you able to withdraw cash top ups to cpf for the amounts above FRS?
while i have found lion infinity s&p 500 and Amundi Prime with Endowus, i am still very unhappy with the abolishment of cpfsa.
i project that i would easily have 450k in my cpfsa at 55. at that amount, i have been denied an annual guaranteed sum of (4%-2.5%)×450k = 6.8k. multiply that by 30 years to 85, its a staggering sum of 200k+.
LW denied me my $200k, i will deny him my vote.
What a thread😂😂😂
Same. Without CPF SA Shielding, I would also lose $200+K of interest in my lifetime. DAMN!
Buy local bank stocks long term, make more $$$$. lol
Buy property. Sell 1 buy 2. did nothing and got 300k profit in 3 years. LW bless me with better asset prices. He wins my vote.
Shielding is loophole and hence is plugged haha
The acoustics is bad
Wasted my time watching this, as some of the details are incorrect and there is no specific rationale provided EXCEPT to ask people to contact them so they can refer them to their partners and friends who will sell them insurance products etc.....sigh
Of course the financial advisers will tell u that la. Walau😂
sound very poor and echoing