The wisdom of saving for retirement

Many people worried about not saving and providing enough for their retirement. So die die must make sure they will have enough money when they are still alive at 90 or 100. Lets assume that a person needs 200 packets of chicken rice to live during his economically active and younger life. And lets say he needs another 200 packets of chicken rice during his retirement.
 
Case 1. A is wealthy and has 2000 packets of chicken rice. He sets aside 500 packets of chicken rice for retirement. Very comfortable retirement I should say and would not affect his luxuriously lifestyle in his youth.
 
Case 2. B has 400 packets of chicken rice. So setting aside 200 packets for retirement not a problem and would live happily ever after with no drop in his standard of living during retirement.
 
Case 3. C has only 300 packets of chicken rice. He can either set aside 100 packets for retirement and live normally. Conversely he can set aside 200 packets for retirement but tighten his belt a bit for an easier retirement.
 
Case 4. D has only 200 packets of chicken rice. He can set aside 100 packets for retirement and stinge a bit now. It is like living with half a stomach full now and also half a stomach full during retirement.
 
Case 5. E has only 100 packets of chicken rice but needs 200 packets to keep his stomach full. So how? Live with half full stomach and leave nothing for retirement or set aside 50 packets for retirement and live with only a quarter full stomach now and a quarter full stomach during retirement?
 
Case 6. F has only 50 packets of chicken rice to live on. Barely enough to survive. How to set off for retirement?
 
Then comes the do gooder. Everyone must save for retirement. It is compulsory. Everyone must have 200 packets of chicken rice for retirement. Case 3 and 4 must set aside 200 packets for retirement. How much they are left with is not the do gooder’s problem. Case 5 and 6 must set aside all they have, 100 packets from Case 5 and 50 packets from Case 6 for their retirement. If not who is going to feed them. And Case 5 and 6 would need to top up the balance to 200 packets when they have more incomes. Tomorrow is more important than today.
 
I remember a Buddhist teaching about today and now. Today and now are the more important and precious moment, for tomorrow and the next moment one could be dead. The philosophy of saving for tomorrow is to have a lot in the future is more important than being dead now. Always look and plan for tomorrow, even if it does not come.
 
The intention is good. And all of them will have a good retirement up to 90 years old with no worries, provide they are still alive. Those who have not enough to eat now, just too bad. They must go and find their own way to feed their hungry stomachs.
 
What happens if they die at 60 years old? Well they will leave behind a lot of chicken rice uneaten while in the case of Case 5 and 6, they were hungry while setting aside the chicken rice for retirement but never live to enjoy them. They could have filled their stomach while alive or at least half filled their stomach when they could.
 
Should they thank the do gooders for helping them to save for their retirement and suffered while in alive, while in the prime of their youth and not enjoying a single packet of the chicken rice they were forced to set aside.
 
What do you think?

Kopi Level - Green

Cash is King

‘My mother recently suffered a heart attack. She was hospitalised and a stent was inserted into her heart. The resultant hospital bill came up to about $18,400.
 
My brother and I have more than $90,000 in our Medisave accounts, but only $3,950 could be deducted from my brother’s account as this was the maximum amount allowed. We had to pay the remaining amount of more than $14,000 in cash….’
 
The above were the introductory paras of an article ‘What good is Medisave if you can’t use it when you need it?’ by a Danny Tseng posted inn TRE. Danny and his brother had to pay cash to settle the bill. It was like they only wanted cash and money in CPF/Medisave was not acceptable. Actually not. Money in the CPF is limited used money, not money that you can use freely. It is money good on paper but not when you want to use it. This accentuates the saying ‘Cash is King’. Trust the value of your cash. Other forms of money are funny money, money but when you need it, becomes elusive.
Now you understand why the govt is encouraging people to put in more cash into their CPF or their parents’ and spouses’ CPF? The Govt also believes in cash. Give me your cash and I print some numbers in your CPF statements and guarantee that the money will be there, very safe.
 
Which one is more useful? Which one is more real? And ‘sway sway kena’ a case like Danny’s mother with a huge medical bill then you cry and curse yourself for putting more money into your CPF/Medisave.
 
Be smart, keep your money in cash so that you can use it when you need it. Money in CPF/Medisave will only make you smile when the monthly statement arrives. Don’t be a daft Sinkie.

Kopi Level - Yellow

The rogue of WW2 wants to protect its former victims of barbarity

Abe has offered Japan as the peace keeper of Asia, to protect East and South East Asians from the rise of China. Japan was the barbaric invaders of Asian countries, looted their countries, colonised the people, raped their women, murder their young and old. But some Asian countries seem to have forgotten the depraved and cruel acts of the Japanese and are welcoming Japan to be their protector, or at least two countries have openly said so other than Vietnam and the Philippines.

And the gangster of the world, the USA, with its disgraceful records in the Middle East, in conducting regime change, invasion, in bullying the Arab and Islamic countries, also declared itself as the protector of Asian countries that include many Islamic countries. And these Islamic countries actually welcome the Americans to be their protector as well, against a western hyped expansionist China.

To the Americans, China is a provocateur for building structures in its islands in South China Sea. China is not supposed to do so as long as there are other countries putting up silly claims against its territories. The countries that made outrageous claims are not provocative. Countries that sent its ships to ram China’s oil rig are not provocative but peaceful. Countries that blatantly arrested Chinese fishing boats are not provocative. Countries that claimed Chinese territories as theirs and scrambled jets to intercept Chinese civilian aircraft are not provocative. Countries that sent their spy planes into an area when other countries are conducting war games are not provocative.

China has not invaded any South East Asian countries but their major trading partners is provocative and aggressive. Countries that colonised and robbed these countries are peaceful and friendly and reliable as the protector of their former victims.

How silly can South East Asian countries be? It is as good as sleeping with the murderers, robbers and rapists once again and feeling very safe. What is happening to this world? A country that had its entire naval fleet sunk without any declaration of war is kissing with the country that it dropped atomic bombs into its cities. Or put it another way, a country that suffered two atomic bomb hits is kissing with the country that dropped the atomic bombs. And both are telling the silly Asian countries that they are peace loving countries, to protect them from countries that had never invaded them.

Kopi Level - Yellow

Who’s afraid of Roy Ngerng?

I have several titles in mind for this piece, like Crowd Funding or People’s Power Singapore style. The above title is quite catchy and amusing and had my vote. The gist of this article is not about who is afraid of who but the evolving political consciousness of the Sinkies crawling their way back to become Singaporeans again. There are so many serious issues facing the Sinkies today, once timid and docile to the extent of being daft, but gradually rediscovering themselves and recognising the need to stand up to fight for their rights to live a decent life in a country overwhelmed by the presence of foreigners poised to edge them out of their comfort zones. Many have already fallen victims to this deluge of so called foreign talents or funny talents that their life style and livelihood have taken a serious setback.

The current hot issue is the life savings of the people in the CPF and this is gradually transforming into a grey area when ownership becomes a questionable issue to the detriment of their rightful owners. While the Govt continues to behave smugly and try to explain away their rights to determine and decide for the people in the use of their savings, and when and how much should be returned to them as if the money belongs to the Govt, the docile Sinkies are rising to demand to have their money back as promised. For the moment the Govt is still having the upper hand, holding the trump card of legislature to make whatever it wants to do legal. The Sinkies are not taking it quietly, not going to be pooh poohed away by superficial explanations that even children would not find them funny.

This tussle for the return of the people’s savings has indirectly led to a defamation lawsuit involving a young blogger and the Prime Minister. Roy Ngerng has crossed the line by his comparison of the trial of misappropriation of the City Harvest Church fund and the CPF money and the Prime Minister. The PM is demanding for his pound of flesh by engaging the island’s top defamation lawyer to sue Roy Ngerng.

Many people in the social media are rallying to support Roy financially and morally in his legal battle with the PM not because they agree to his allegation but more because of their unhappiness over the CPF money and also a righteouness to defend the weak against the mighty. It is like the people standing up to the govt. It is like a surge of People’s Power against the Govt. And the people are doing it the Singaporean way, through the legal system, abiding by the rule of law.

To protest or to challenge the Govt, they are not marching in the streets with their feet. They are storming into the courts of law with their money. In one day, $15,000 was raised through anonymous contributions ranging from $2 to $1,000. By end of yesterday, more than $36,600 has been received. Roy is aiming to raise $70,000 to cover his legal fees and it looks that this is not a difficult target to achieve. The  People’s Power will be determined by the sum of money raised. No violence, no street protest, no burning of police cars or rioting. It is all about money, the only language Sinkies understood.

No money no talk. No money no justice as the price for justice will not come cheap, at least $70,000 for a start. The rich and powerful can literally drown the poor and weak by unleashing the might of their war chest of money.

Would Roy get the support from the people, would the people rise in tandem like a spontaneous uprising by throwing their money behind Roy? Or would the CPF members abandon Roy to fight his own battle, just like all the pathetic Sinkies? From the donations received so far, there are enough Singaporeans who are willing to put their money behind Roy.

Kopi Level - Yellow

Obama the comedian and the Yakuza

There is a report in the media about Obama reviewing American policies and ‘vows to act against aggression’ a few days back. Obviously Obama did not know or is unaware that the Americans are the biggest aggressor in the world, or pretending not to know.  The Americans have been conducting aggression in many countries for decades unceasingly, engulfed in wars of aggression but hidden under the guise of defending the democracy and human rights. I can’t help calling him a joker.

Oh, actually Obama was talking about regional aggression and regional aggressor that needs to be checked, like China. International aggression and international aggressor like the Americans have no checkers and no one to check them. It is the right of the Americans to be an international aggressor and they can do it with impunity. Who can check the American aggression?

Obama also cautioned against the use of force. American aggression did not involve the use of force. They were always peaceful in nature, without destruction and loss of lives. When Obama cautioned against the use of force, he was referring to other aggressor countries. The Americans never use force in their aggressions against other countries. America always led by examples, and American influence is always stronger by such examples of not using force, like in Iraq, Libya, Iran, Afghanistan, in Vietnam, in Korea.

Obama let the cat out of the back when he said America ‘is moving away from direct military actions.’ So there you have it, the Americans have been involved with direct military actions all the while, use of force. All the talks about not using military force were lies.

Obama is a great comedian in the making. He can start a second career in Hollywood when his term as the President ends, as a comedian of course.

Yesterday, ‘Hagel said the United States took no position on the merits of rival territorial claims in the region, but added: "We firmly oppose any nation's use of intimidation, coercion, or the threat of force to assert these claims."  Hagel then threw his weight in support of greater military role for Japan in regional affairs. Japan is now unleashed as the top war dog of the American pivot and the Americans are expecting the East and South East Asian countries to join this invader of their countries against China. Some of these countries have forgotten what Japan did to them in WW2 and that their fate as colonies of Imperial Japan. The Japanese are reviving their imperial and military ambition to be the military power in the region. Asian countries that failed to learn from the evils of the Japanese past would have to pay dearly one day should they be ruled by the Japanese again.