I believe my CPF saving is enough

I believed that my CPF saving would be enough for my retirement. That was 40 years ago. And honestly, with so much put aside into my CPF account, how could I doubt that it would not be enough? Sure must be enough. What happened? Is it enough? What do you think? So the young people are told today that their CPF savings will be enough. 40 years later, would they still believe that their CPF savings would be enough for their retirement? How many of you believe so? I guarantee you it will not be enough 40 years later. No need to bet. I would not be around to answer. So would the people telling you it would be enough. Heh heh.


Matilah_Singapura said...

Just because you believe something doesn't necessarily mean it is true.

40 years ago the world was still on a quasi gold standard. Now everyone is printing money, so there is NO WAY forced "savings" (myth: in actuality it is a TAX) alone will save your sorry aging ass.

CPF is not "saving", and it is not "yours", thus:

>> "I believe my CPF saving is enough" < -- is a complete MYTH, FICTION, PURE GOVERNMENT BULLSHIT.

CPF is a TAX once paid is no longer "yours".

Anyway, you believed what you want to believe and get fucked. I find your stupidity entertaining ;-)

Got wishful thinking?

Chua Chin Leng aka redbean said...

Matilah, your ability to read and under what I write is so childish. I can't believe that you literally believe what I said. Tsk,tsk.

What happened to your grey matter, dissolved by tody? My God, please ask the other bloggers and they may explain to you. I give up on you.

Got stupidity?

Anonymous said...

It is not about whether you have enough CPF saving on your retirement 40 years from now. The big question is - is there money in the CPF? We poured in billions every year and does anyone know where does the money go? Someone's pocket? Or still there waiting for you and me?

Anonymous said...

RB, MS now malu for not reading and anyhow hantam. He is looking like a silly prick standing and naked.

patriot said...

What use is CPF enough in 40 years later when one does not have enough NOW.
Can those Millionares in White ever understand when their Monthly CPF Contributions are much higher than the gross salaries of many workers.

It is better for them to shut their mouths than to hurt us with false comfort.


Chua Chin Leng aka redbean said...

At the rate they are inflating the money soon everyone will be carry baskets of notes to the market. Yes, many will have millions in their CPF, but how much would they worth or what can the millions buy by then?

Veritas said...

Singaporeans actually spend less than 1/3 or less of their income for themselves each month. The rule of thumb as below

1/3 goes to CPF
1/3 goes to support parents/children and savings
1/3 or less goes to spending

At the time of our retirement, we do not have to support parents or children. So theoretically, your should have enough to goes for 35 years or more, assuming you retire at 60.

Your 1/3 CPF saving should comfortably last you until 95. Unfortunately, the raiding of our savings through inflation is a problem. You are going to save yourselves into bankrupcy.

To implement force savings, the government need to assure the price level remain unchange. PAP failed miserably. The whole CPF is ponzi. CPF must be allow to be saved in physical gold bullion.

Anonymous said...

Do you believe that your CPF is enough?
Do you believe in the existence of the Singapore reserves?
If you believe in the 2 things above that you have not seen, then why don't you believe in a God that you have not seen either?

Anonymous said...

I agree with 1 of the point of matilah, as in I also see CPF as a form of tax rather than forced savings. So whether I saved enough or not doesn't exactly matter, CPF will be changing the withdrawal requirements by the time I hit the allocated age as shown by what the government is doing in the recent years.

The super high property prices will be constantly draining my account when I buy a house and charging me interest for the use of my own money when I used it to study and such.

Inflation will depreciate the value of money every year, hence the cost of living in the next 40 years will be different as well. What is 5 dollars for a bowl of noodles today can be 10 dollars in the next 5-10 years.

In short, I do not see myself having enough to retire 40 years later, unless the cost of living remains the same 40 years down the road and there is an increase in my real wages.

Anonymous said...

CPF is only enough if the pips pay you 20% return annually for using your cpf cos they used them without giving any guarantee. Just look at what the banks charged us for failing to pay credit cards. If the banks can do this to us, why cant we be entitled to 20% pa return from the pips?

Anonymous said...

When it comes to money, no one has enough. Just ask the pips why they need one million salary when 100k is enough to get by in spore.

Anonymous said...

The vampire pigs need $1 million dollar salary because their dignity cost money.
Taxpayer's money.

agongkia said...

Dun know hallucination is the correct word to use.Cbf is the root of all evil.I have never dream that its my money,not to say enough or not.
Its for the daft and the rich to boast and dream how much one have in their cbf.
Money is only yours when you work for it and get it physically .Or
go Orchard Rd, put a bowl in front of you and let others throw coins into it or like me, befriend tais tais from 3rd world countries and get paid .
Continue dreaming.

Matilah_Singapura said...

Wah lau, can't I make a comment without upseting someone?

Apparently not! ;-)

Chua Chin Leng aka redbean said...


Anonymous said...

Matilah some part of your comment like cpf is a tax that I agreed totally and have been telling my kids as well. The rest of the nonsense from you I wanted to shaft them into your arse lor

Anonymous said...

I believe that younger Singaporeans will have enough CPF just to buy a pigeon hole, continue to have increasing amounts hijacked by the Government as retirement money, hehe, and certainly not enough in medisave for paying the hospitals.

Forget about being able to withdraw anything at 55. That tantalising dream is getting further and further from reality.

What the PAP tells you is a lie. It is the same kind of lie that they are still trying hopefully will continue to convince some 60% of the population that HDB is still very affordable.

Matilah_Singapura said...

Here's my tip for you fuckers who still don't understand that CPF:

1. The "deduction" is a tax on both employer and employee

2. The system itself is a PONZI SCHEME aka legal (under law made and passed by parliament) pyramid scheme , just as tax is a legal form of extortion and robbery, NS is a legal form of slavery and the death penalty and war are legal forms of murder/ homicide.

What the state can do legally, individuals cannot.

What is going to happen: The Ponzi Scheme will go bust if the government doesn't tinker with it.

Therefore from time to time, the government has to put in more "restrictions" because the MAJORITY OF PEOPLE still live with their head up their pantat, and convince themselves that what they smell are the sweetness of roses.

THAT'S how deluded most people are. (What can you do? Nothing!)

So what you should do is GRAB AS MUCH AS YOU CAN...when it is offered to you.If the govt offers a grant --- GRAB IT, and grab it without the slightest tinge of guilt. Don't ask for elfare or grants...but if it is offered, be very quick and put your KIASU instinct to good use and grab that sucker ASAP.

Singapore's sovereign debt level is on par or worse than Greece. Lucky, no foreigners hold the debt. However, debt is debt...someone gotta pay at some time.

I suspect CPF is used to secure that debt, which means bury any hope right now.... "your" so-called "savings" are sunken money...gone, gone, gone.

Voting in another government won't change the fact that the money is technically not yours and probably not there.