6/24/2014
CPF – Between the devil and the deep blue sea
The Hongkies have this saying, money earned is to spend. What is the point of making so much money and not spending it? I think they have a point. There are many misers who would earn and earn and build a mountain of savings but live poorly only to pass away leaving behind a fortune that they never have the good fortune to enjoy.
The Sinkie philosophy, or at least this is the official philosophy, is to save and save. Don’t spend, keep it for tomorrow. With this kind of con talks, oops, I mean wisdom, Sinkies will all end up with a lot of savings and feeling very secure and rich for a tomorrow that may not come. Many will die very very rich, but the end result is that other people will be spending their money for them, to enjoy their life time savings for the stupidity of Sinkies.
The more painful part, when the rich save, they save their extra cash and still enjoy a rich life, every moment of it. When the not so rich or poor save, they actually have to tighten their belt, forgo something today and hoping they could have a bit of something tomorrow. And the saddest part, they deprived themselves of the present, eat less, enjoy less and could end up unable to enjoy a tomorrow that did not come. They lose out upfront and lose out at the end.
Which is a better wisdom, to spend now or not to spend now? In the former, at least one gets to enjoy the present. In the latter, one loses out in both ends in the case of the not rich. In this either or case, isn’t it better to live now than hope for a better tomorrow?
The ideal is of course moderation. Save a bit when one can, save a lot when one can, and hope to live an easier life tomorrow. As for the conmen that advocate people to save and not to eat now, be careful and don’t be duped by them. Many conmen only give con advice for their benefits.
PS, saving a lot of money is the privilege of the rich. For the poor who don’t even have enough to eat, saving is double tragedy when forced upon them. In the case of CPF savings, how many died before they could spend a single cent on themselves?
Kopi Level - Green
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5 comments:
"Everyone must remember, first is that CPF is your money, nobody can take that money away from you. You have your money, you have the account, and you receive the statement, the account on a regular basis. So, you know how much money you have in the CPF,” he said.
Tio, I am sure Sinkies had their money, they had the account, and they received the statement, the account on a regular basis. So, they knew how much money they had invested with Sunshine Empire and other Ponzi schemes.
Why do you think there are so many wandering spirits and hungry ghosts? Attachment to power wealth etc...refusing to let go
"The basic purpose of the CPF is to help members meet primary needs like shelter, food, clothing and health services in their old age or when they are no longer able to work. Benefits offered are to help meet one or more needs of the CPF member in his retirement. " CPF website.
- I stress again - the purpose of cpf is not to cover the losses made by gov investment. The gov has to resign, related people sue by high courts, assets get confiscated if they demonstrate negligence in dealing with public monies. This is why they are sworn in.
Money not in ones hands and in ones control is either an investment, debt or a ransom.
Feel free to treat yrs as deemed fit.
>>402
and a coward never fights even if that is their rights.
"The CPF Board is the trustee of members' CPF savings. We seek to protect and preserve the value of the savings. "
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