CPF is moving beyond the grave. Withdrawals are locked up in compulsory annuity. Work till you die for funds you are unlikely ever to see. Sell back the balance of your property to support the lifestyle that you deserve provided they gave you back your own money.
At least, we have eliminated sickness. If you are ill, you can’t afford to live for long. It is a convergent and self-terminating problem. You converge to the after-life in a zero sum game.
Leave nothing behind. You’ll likely go as you came. Naked to the butt. Shafted but not bowed.
What to do?
Hi KT,
Looks like you are still very stubborn not to put a category to this Post. Would you like to suggest a category? If it makes sense, we will put up a category.
Due to the many outdated Posts, all Post without a category would be deleted, if space is needed. Posts with a catgory will stay throughout the life of this club.
Have fun.
Terence Seah
Terence
How does one change a category?
Actually, “General” is the best. It is a general comment based on the latest key developments affecting seniors in the long term. But if you must insist on another specific category then may I suggest “Managing the Future”. Alternatively, you may wish to suggest a catgory that may seem more meaningful to you.
The subject matter is holistic and crosses from finance, investment, work to lifestyle and home.
The issue is also topical, timely and relevant as of now. It does not matter whether it stays on later because the situation is in flux changing by every headline. Just as it is not useful to be reading yesterday’s news today unless we are writing a history book.
But its your call. Do what you think best.
Well, let me sneak in btwn you 2 ( like I said b4, good minds) and be the better mind.
Call it “Current Affairs” and place the lightning sign next to it………….high voltage assured for discussions of this nature.
Ok, after waiting for almost a day you got only a reminder it must be quite a sad day so pls let me commend you for bringing up a relevant issue affecting all of us and my comment follows.
If grapes are put away to ferment, they will either become wine, if the grapes are happy, or a dangerous concoction of wrath, if they arent.
Well, it looks like I can’t win, to get you guys to put your Post against a category. So, I wont push further.
Please note your Post may be deleted, if we need the space. No announcement will be made.
Terence Seah
According to Zen, win comes to nought; no-win also comes to nought, so win is no-win then why win when the only meaningful win is when a baby weans and, from his triumphant looks, you can tell he wins………….happy baby.
Small matter. Let it RIP.
There is no response for a general discussion on the wide ranging finacial impact of recent measures on seniors. There won’t be any interest for a specific category.
I think it is just an issue before its time. It will come. But not now.
Kill this thread if there is not enough space. When there is greater awareness, as when the pain finally hits home, we can revisit the subject matter.
Hi KT, even though there is minimal discussion on the recent measures affecting seniors on this forum, i wont take it and neither do I believe that SilverHairs lack the interest or concern about their retiring future.
In my opinion, I believe that many SilverHairs have already decided on how they are going to manage their finances or what they are going to do. In your Post on moving the goalpost, it is clear that issues regarding CPF, withdrawals and what you can do with it, would very much be determined by the government. It’s a matter of selecting an option that suits the individual. The goalpost may move, but you still get wooden structure and the net. And, you can only make a decision closer to the timeline.
What I see as important for many SilverHairs, including myself, is whether we can live through 3rd or 4th stage in life.
Your focus is on investments. For others, it’s setting up a business. For others, it’s work till one cannot work. And, for the last group, the CPF and savings are enough. Why the bother?
I like a combination of investments, doing businesses, working till I die, and enjoying the limited CPF and savings.
Terence Seah
I’ll wedge in whenever good minds lock horns.
It is already an issue but not many are seeing it as such. Or they hv come to accept it as “another good thing for us in the long run bcos they know what’s the best”.
Over the years when defamation suits loom large even when an allegation was not unfounded – TT’s 1st class air travel is but one – together with the handing out of freebies to you, the human mind is easily frazzled and so succumbs to the sensuous.
Why ask so many qustions when you hv beautiful shopping malls to hang out in style, take a foto and send it overseas to impress friends?
On the flip side are those who hv seen it coming, hv prepared themselves early, some with 2nd, 3rd homes elsewhere with porch & gardens bigger than Allrounder’s rented house, in places which allow harem breeding. These folks hv sufficiently addressed their retiring future.
I hv said it before, that we can go into a tirade frenzy on ostensibly draconian policies which affect us.
I’ve also reiterated that, here is not an appropriate forum to vent & ventilate too passionately our views, mindful of the danger that we might unwittingly slip into a political discussion and land Mr T an unplanned early retirement at the extreme east where ironically he will get his last wish of “I like …..working till I die……” fulfilled.
Terence,
Well said.
I, for one, do not lack interest or concern about my financial future. In fact I worry about it, like many others.
I’m sure the majority of us have already had some plans put into action, but don’t wish to discuss them openly with any Tom, Dick or Harry, especially not here where the main aim is to form more friendship and to have a more active and enjoyable second half of our lives.
SHC is an extraordinarily successful social club. On its main platform, it should continue to provide a unique value-for-money social experience for its members. Its diversity is its main strength. Its not a rich club or poor club. It is a club for everyone with virtually no barriers to entry and where all interests can flourish.
On another dimension, it can create financial awareness and lifestyle options through dialoq. One does not negate the other.
This is not to say that anyone is prying on the others affairs. We improve by sharing experiences. We are not trying to run other people’s life. We are trying to improve and learn from better players provided they are prepared to share. It is in a self-help “gotong royong” spirit. There is no ideoloque in this.
For example, I am trying to learn soccer betting from Tim and green horticulture from Steven. Financial/property investment and private equity (ie biz) so happens to be my game. I don’t mind sharing either if others are interested or in need of help. I try to give back what I take.
Sharing is easy. It is by constructive contribution of ideas and activities in the same sphere.
And, of course, it is completely voluntary. Not everyone loves to travel, live abroad or play mahjong. Just opt out if you don’t choose to join in any specific discussion. We are not trying to force a change in anyone’s perspective.
Just take what you want for your own life. Be happy.
Tim,
That reminds me.
When did you say the soccer pool workshop will be? Haven’t heard anything from you since the booty sales went boot.
Don’t like that. Solitude is making money alone. Share-leh.
Many SHC members may not be bothered about the CPF changes because we really don’t need the money.
I have lost count of the biscuit tins under my bed. Now looking for more beds…
But on a serious note, KT, do share with us any money-making ventures. Still waiting for the first SHC Investment course/seminar/meeting…
Mary,
Let me give an example by way of a sci-fi story. Then you tell me if it is obstrusive, deconstructive or negative.
One great escape from our Computer Planned Future (CPF) is through annuity. Our Programmers create the loophole knowingly. It is a backdoor program or an exit to quit the rut in case something goes wrong.
The only way we can understand our options is to share the experience. Remember an annuity is for life and we all have only one lifetime each. Practise will never be adequately explained on their brochures. Remember the fall out on ILPs (Investtment Linked Policies). By the time you find one of this out it may be too late.
This is where SHC can come in very usefully. We can learn from members who have already participated in some programs.
You can break one chopstick but not a bunch.
Do we close our minds and hope for the best. Or do we reach out and try to engineer a better future in a collective manner.
So do you think such a shared learning experience is beneficial or not?
KT, I am selective with my neighbours so pls dont fly a half mast next to me……….clever you shd understand what I meant and for that, a sure win money tip for 2nite………SAF to beat Albirex by more than half goal………….put money, take money then go lick honey & 10 mths later, she gives you a bunny.
Well, so far with Euro 2008, pre-olympics, s-league, epl, primera liga……..it’s a case of left-out right-in so the centrist wins.
(Who wd hv expected Portugal to draw on home ground after leading for almost the entire match, and ended in a fracas?)
Back to the thread.
We are supposed to hv 3k plus members but the vociferous voluble ones are the few of us. In this backdrop, the consensus appears to be one of “I think I have enough, or hv enough in my plans, know what I want to do so I hv time to tea, party and if no company, alone blow the pee pee”
Happiness & contentment reign.
For those who arent in the forum but reading at nite in btwn work shifts, they cd be slogging hard, ekeing out a measly living, worrying like hell over $ and probably see the Happy Chat with where to eat good food as an insult, as the haves not empathising with the have-nots.
(That was why I brought in a piece of the reality this morning but it didnt seem to work leh).
It will be useful that one day, enough of SHCians hv enough concrete ideas and actions to help this silent group among us to forge a small step upfront.
And KT, I promise you a hefty kick on yr butt shd you turn yr back when you’re needed, with my big toe sticking out to shaft in……….
Joy,
Don’t hold your breath for KT’s Investment Club whatever….be it meeting, seminar, course etc…etc. As far as I know….Catherine and Shirley, including myself have given up hope on whatever is envisaged.
Jie, oic…
Jie , Joy
The forex and non-equity derivatives are ready to run. We have the broker, banker and premise now.
It is just that we are waiting for the equity side led by Dennis Har. They are working out some technical issues on the trading methodology.
But have you guys been familiarising yourselves with trading and investment. This is not a spectator sport. You can start by reading up and attending the many free trading and investments previews. There is also a lot of information out there.
In the investment club we will help to mentor you in trading with practical workshop. You can trade alongside experts. It focuses on the practical techniques of winning. When we start we will get straight into the water.
If you are a total newbie you should get yourself informed first. We will not duplicate the basic education since this is readily available outside.
Spend this waiting time to familiarize yourself with the markets.