time to spend your medisave!

Good time is here, no need for medical safety net! It was reported in the media with such jubilation that more people are opting for B1 and A class wards and private hospitals because they can use more of their medisave fund. So there is more money to spend on medicare. And with the economy growing, it is time for celebration, it is time to squander the medisave away. Throw prudence to the wind. The money in the medisave should be spent away merrily. It is time to encourage more consumption of the good life.

myth 47

'Singaporeans did not have enough savings for retirements' I can't believe that this is true. And it is true given the concern expressed by MPs. Look at this. [b]Helping Singaporeans save for retirement a concern for MPsBy May Wong, Channel NewsAsia Posted: 31 July 2006 1958 hrs SINGAPORE : Singaporeans' lack of savings for retirement is a key concern of some MPs; this is especially worrying as Singapore is facing an ageing population. By 2030, one in five Singaporeans will be aged 65 years and above, and being financially independent may be a problem if Singaporeans do not start saving for their old age now. [/b] How could Singaporeans be short of retirement fund when we were the second highest savers in Asia after Japan? How could that be when the Govt has stashed up $200 billion in reserves? How can that be when the Medisave Account requirement is $30k and will go on higher? How can this be when the minimum sum is $80k and will be more over the years? Where have all the money saved the Singaporeans gone to? I can think of two big holes. The depreciating assets in the homes they paid for and the money lost in the stock market. How much were lost? My ballpark figures are in the billions. Maybe more than $10 billions. But with $30k in medisave and $80k minimum in CPF savings, would not that make retired Singaporeans filthy rich? Why is $110k minimum of strong S$ be considered not enough? Not enough according to who? Many around the world would be thinking a a happy retirement with this kind of money in their savings. What is wrong with these numbers? What happens when all the money is not enough? Cost of living, the cost to keep one alive in Singapore is getting ridiculously high. A retired Singaporean must have at least $110k in their retirement fund and still considered short when all he needs is a roof over his head and his 3 meals. What are the basis of computation? Still want to travel around the world, live in 5 stars hospital, swinging with dance partners, enjoying fine dining? I would think many would be lying on their backs staring at the ceiling and with no appetite to eat. Can't see much or hear much. Should keeping an ageing person alive cost so much?

job enough but money still not enough

Today we hear another impressive figure on job creation. 81,500 jobs created. And the unemployment rate of 3.8 per cent is nothing to worry about. We are near full employment. But why are the lower segment of the population still feeling so dissatisfied and unhappy? Obviously employment is not the only thing to look at. It is the overall impoverishment of the people. Asset value dwindling, some still holding onto negative assets, and the depreciating value of the money vis a vis what it can buy, domestically. We are poorer for the same income when everything is going up. And that is a fact for those with household income of less than $3,000. $2,000 is a drudgery, bearly enough. There is a need to contain the runaway inflation and cost of living to make life easier for the lower income group. To them it is still money not enough. Not that they have no money.

what an amazing discovery!!!

I have not been to the YPAP forum for quite a while when things there got too dull and full of spamming. Just a while ago I tried to drop in to see if there is any improvement. And I was greeted with a Critical Information window. And yes, it states that I have been banned from YPAP forum. Amazing. I thought I was the most decent forumer there, talking sensibly though at times a bit cynical. And I got banned. I must say that YPAP must have pretty high quality of postings there. I better stay in my own blog/forum and post my own stuff.

Emperor Mahathir speaks

The Emperor speaks. Dr Mahathir Mohamad has met Malacca Chief Minister Khalil Yaakob, who is playing the role of a mediator following his strained relationship with the present leadership of the country. Confirming this, Dr Mahathir said: "When Khalil met me before I left for my holidays recently, I told him what needed to be done. "I told him the solution is very simple, just don't bow to Singapore's demands, don't undermine Proton and don't sell Agusta."... Meanwhile, Malaysia Today, an online magazine reported that that the key issues in Dr. Mahathir's speech in Kota Baru yesterday included the following: · Kalimullah Hassan, PM Abdullah's aide and former editor of the New Straits Times, is "a Singapore agent" without clarification. · Khairy Jamaluddin, the PM's influential son-in-law, became a millionaire in three years. "If want government contract, go see Khairy." The above were extracted from littlespeck.com. After handpicking his successor and bypassing his first choice in Najib, Mahathir now declared that he no longer supports Abdullah Badawi, implying that this is his edict and Badawi must go. He has decided. Then he went on to tell the people that he would not make a comeback as if he will be returned to power if he wanted to. He is the Emperor afterall and he is the one to decide whether he wants to be the Emperor again.