another great quotation

S'poreans need to learn how to stretch their savings: Lim Swee Say What does this statement mean? I think it makes a lot of sense. With 30 to 40% of their money saved, and very safe, in the CPF, Singaporeans should learn how to stretch whatever left that they have. Or else if what they have in hand are gone and money in CPF still very safe, they will have a little problem meeting their immediate needs. But I think many Singaporeans are already stretching their savings, if not an expert in it. When prices are going up ahead of salaries, they will be in big trouble if they do not know how to stretch their money. For those who still do not know how, they may want to ask the minister for some advices and ingenius ways to stretch their dollars.

It is my money

When would Singaporeans start to ask the ministers in public dialogue sessions that the CPF money is their hard earned money and not to be managed against their wishes? It would be nice if they ask the minister, 'Mr Minister, Sir, what makes you think you can decide whatever you want to do with OUR money?' And if the minister says that they have been elected by the people to decide what is good for them during the general election, then the people should accept it as they are the one who elected the ministers and MPs to Parliament. It was their choice, their right to decide who they want to represent them in Parlaiment. Having cast their votes, they have to live with their choices. And for those who did not get to vote or voted against, just too bad. This is the system, and this is our democracy.

Another frivolous pursuit

An 86 year old auntie signed on the dotted line to pay $52k for a slimming regime and her daughters are crying foul. Should they or are they being unreasonable? The auntie is not of unsound mind and wants to look slim and pretty. She was not coerced to sign and pay. She did it with eyes open wide wide. The daughter are complaining to CASE for a refund. Hey, it is caveat emptor. Or should we expect a slimming centre to tell a 86 year auntie that she shouldn't waste her money at her age? Is it the duty of a commercial slimming centre not to sell their products? They are there to promote and sell their products for profit. And if there is no misrepresentation, then there is no foul. Quite frivolous in all ways.

The St John Hospital case

This is simply a case of a CEO being underpaid. so he helped himself to the money to adjust his own pay. All the charity organisations should quickly do a salary review and make sure that their employees, especially the mangement teams, are amply rewarded at market rate. They can chose to peg themselves with other big charity organisations. How can they forgot about how Singapore or Singaporeans tick? Money and more money if they are to prevent such things from happening.

CPF, circular logic at works

Swee Say said, later retirement and extension of withdrawal age is not to lock up your CPF money. And that is the truth. Another truth is that your money will be locked up for another 3 years. I am confuse as to which is the greater truth. And this Michael Chwee said, 'If you want workers to work longer, we must have extra savings...' What is he talking? If a worker is employed to his last day of life, eg 85, he is expected to have a decent income till that day. Why should he need more savings? Only those that are not working and has no income need to have more savings. Once the retirement end is extened from 62 to 65, the workers are working 3 extra years, earning 3 more years of income. So his needed savings should go down by 3 more years. Is this reasoning so difficult to understand? And I am referring to people who are not working and have no income. Many may not be working but still have income. I do not buy the argument that the whole concept of filial piety or to take care of your parents, or just to give them a little pocket money are a total washout. If that is the case, our education has failed miserably and we should scrap teaching such concepts in schools immediately. It is a total waste of time and effort. A big farce. A big failure.