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This guy has 800K in his CPF. (AK responds to HWZ Forum.)

A reader pointed me to a thread in HWZ Forum which discussed about my CPF savings being more than $800K. He wanted to clarify certain que...

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Pay for memberships that benefit (who) financially?

Saturday, June 9, 2018

Reader says...

I have been following your blog since last year.

As a middle age self employed who’s asset rich and cash poor, I have been enlightened by your simple strategies on how to save money.

Thank you for the kind sharing!

The matter that I need advice :-

As someone who’s very good at spurring the economy I sometimes buy without much thinking.

So recently I paid a small amount (of money) to join a certain membership. Lazy by nature I thought it will be nice to follow someone whose good at what he’s doing.

So there after again I paid some more money to get another set of stock picks mainly the reits.

Last couple of weeks again they tried to sell another membership which members will get access to the CEO’s portfolio which has been widely publicised cos he’s putting his own money in.

Now this membership will cost much more than the earlier ones and as someone lazy by nature I’m thinking if I should join in and just follow what he’s buying.

But this time amount is big ($1999 for one year or $2999 for 2 years), I wonder if you could share with me your view?

AK says...

All I will say is that I have never paid any money to join any such membership.

The one membership which I like which gives me lots of benefits and which is FREE is my CPF membership.

I know.

Bad AK! Bad AK!

Good luck. ;)

Maybe, AK should do that too. 

Each reader pays me $1,000 to know what I buy and sell in the stock market. 

Then, I would have a lot more money to invest with! 

Wah! Mai Tu Liao! 

Related post:
Financial security in Singapore.


laurence said...

AK has been learning lots of Singlish/colloquial terms. Bad AK, bad AK........

AK71 said...

Hi Laurence,

Alamak. Dun be so liddat lah. ;p

AK71 said...

What about this?

ROFL. ;p

WTK said...

Hi AK71

CPF membership is not only free. It also gives us the yearly interest of 2.5% to 6% on the balance in Ordinary, Medisave and Special Accounts. The only con is that we can only withdraw the monies at the age of 55 and after setting aside the prevailing minimum sum. The minimum sum keeps rising over the years. The goalposts keep shifting as well.

I guess that one cannot have the cake and eat it. The same applies to all matters in which there are pro and cons.


Cory said...

2K fee per person just to see his portfolio. This CEO sibei huat.

AK71 said...

Hi Ben,

I have shown in my blog how we can let the government help us meet the yearly increase in minimum sum.

People talk about shifting goal posts but it really is not a big deal and, frankly, it is a very sensible thing to increase the minimum sum every year as cost of living inflates over time.

AK71 said...



AK71 said...

Hi Cory,

CEO sibei smart.

We have to be sibei smart too. ;p

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