tag:blogger.com,1999:blog-7944902213075756335.post2597842409199082533..comments2024-03-29T19:12:08.223+08:00Comments on A Singaporean Stocks Investor (ASSI): Worried you won't live to enjoy all your CPF savings?AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger24125tag:blogger.com,1999:blog-7944902213075756335.post-8360443153180579502019-02-08T13:52:13.664+08:002019-02-08T13:52:13.664+08:00Desmond Lee says...
Quite often my friends would ...Desmond Lee says... <br />Quite often my friends would tell me they are not going to live till the average lifespan to benefit from CPFLife.<br />My usual response would be asking them to look at the age of their grandparents, parents or relatives when they pass away. This is a good indicator. Next is to eat healthy and exercise 😄AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-17357742378861611462019-02-08T13:31:14.323+08:002019-02-08T13:31:14.323+08:00Hi Ben
Too many people think that the CPF is not ...Hi Ben<br /><br />Too many people think that the CPF is not real money and this is a problem (for them).<br /><br />https://singaporeanstocksinvestor.blogspot.com/2018/09/cpf-interest-is-passive-income-and-real.htmlAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-75433226790785283412019-02-06T11:09:22.784+08:002019-02-06T11:09:22.784+08:00Hi
I believe that one way to treat CPF as an addi...Hi<br /><br />I believe that one way to treat CPF as an additional buffer and treat it as non-existent. This may be applicable for those who has the cash or investment portfolio to sustain his/her daily lifestyle expense. Such thought may not be accepted by some or the majority of the people. I will say that this is to each of our own. Different people have different views and it is up to them toWTKhttps://www.blogger.com/profile/11459028978258841179noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-78181401836055445642019-02-06T09:54:21.665+08:002019-02-06T09:54:21.665+08:00
Kenichi Xi says...
A true story.
An auntie at p...<br />Kenichi Xi says...<br /><br />A true story.<br /><br />An auntie at premier lounge told me her classmate A saw his other classmates a few passed away.<br /><br />So Classmate A decided to withdraw and use his cpf money.<br /><br />She mentioned he ran out of money 3 yrs ago and they lost touch le.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-71274670558191857582019-02-06T09:53:53.295+08:002019-02-06T09:53:53.295+08:00Jackson Yang says...
I more scare when im old and...<br />Jackson Yang says...<br /><br />I more scare when im old and noticed i had zero $$ in my bank account, or have to depends on someone to help me...<br /><br />That means my life is on someone's mercy now....AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-16230340512346924382019-02-04T14:48:29.660+08:002019-02-04T14:48:29.660+08:00It is better to die as a rich man than to live as ...It is better to die as a rich man than to live as a poor man.<br /><br />If AK says so, it must be so.<br /><br />;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-52207264045824139742019-02-04T14:18:59.386+08:002019-02-04T14:18:59.386+08:00Reader says...
I have 2 dying questionS n hope u c...Reader says...<br />I have 2 dying questionS n hope u can answer:<br />1. TOUCH WOOD but if u knew u will not live till 55 or 65 would u still top up ur CPF?<br />2. TOUCH WOOD again but will u regret in Heaven if topped up n do not live till 55 or 65?<br /><br />AK says...<br />Alamak.<br />Eve of Chinese New Year and you ask me something like this?<br />Terrible.<br />Read this blog. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-79369980292197412042017-10-11T09:29:24.263+08:002017-10-11T09:29:24.263+08:00From my FB wall:
Augustine Lim:
Cpf is gd but pr...From my FB wall:<br /><br />Augustine Lim: <br />Cpf is gd but problem is u can only get to enjoy cpf life when u rch 65. What happens if suay suay u die younger say 60. Can't see my cpf life payout liao.<br /><br />Cassidy Gan: <br />CPF is to help to fund your retirement. It is true if you die younger than it was expected then you leave them to your family. The other way of looking at it, AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-56921519365570165532017-01-20T19:46:48.241+08:002017-01-20T19:46:48.241+08:00From my FB wall:
Jimmy Ng:
"CPF very evil t...From my FB wall:<br /><br />Jimmy Ng: <br />"CPF very evil to remove the "highest payout, no bequest" option."<br /><br />Assi AK: <br />"I know what you mean... I would like to have that option."<br /><br />This option, if available, would be good for people who have no dependents at age 65.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-37053481894865179572016-08-20T12:24:31.642+08:002016-08-20T12:24:31.642+08:00Hi Kiki,
Your understanding is correct. :)
Basic...Hi Kiki,<br /><br />Your understanding is correct. :)<br /><br />Basically, if we should die at age older than 85, then, our beneficiaries get nothing. If we should live beyond age 85, we continue to receive a monthly payout till we die. If we die before 85, our beneficiaries will get something.<br /><br />"Under the CPF LIFE plans, we will refund all your unused annuity premium (without AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-79051833819175040092016-08-20T09:47:47.162+08:002016-08-20T09:47:47.162+08:00Hi ak71
Is me again. I am going through all your...Hi ak71 <br /><br />Is me again. I am going through all your post so may be posting in some old topics.<br /><br />I don't quite get what iwimsasl means.what does it mean by the beneficiary cannot get back the full amount. If I choose the basis where I take more and less for my siblings, how does it work. Shouldn't they be getting the full amount not yet taken by me ? I tried reading in Kikihttps://www.blogger.com/profile/00365173793135901713noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-32529020306191302792016-06-21T00:00:00.611+08:002016-06-21T00:00:00.611+08:00Hi iwimsasl,
Another blog post has been inspired ...Hi iwimsasl,<br /><br />Another blog post has been inspired by your comment. :)<br /><br /><a href="http://singaporeanstocksinvestor.blogspot.sg/2016/06/why-work-hard-and-plan-early-for.html" rel="nofollow">Why work hard and plan early for retirement?</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-60955041446849339312016-06-20T19:49:09.292+08:002016-06-20T19:49:09.292+08:00Hi AK,
Yes, I'm planing to contribute just th...Hi AK,<br /><br />Yes, I'm planing to contribute just the required amount since I've no say in the draw down age and I plan to withdraw it once the law allows it....65 hopefully for my cohort.<br /><br />Shouldn't CPF allow early start of draw down age with reduce amount say 7-8% for each year just like the same increase for each year of delay to be fair? That said, the low income iwimsaslhttps://www.blogger.com/profile/10446339986884258399noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-71575949927465001262016-06-20T14:13:28.650+08:002016-06-20T14:13:28.650+08:00Hi Bigcatblue,
I know many would like to be able ...Hi Bigcatblue,<br /><br />I know many would like to be able to get their money earlier but they must understand that if that option is available, it would mean a much smaller monthly payout. There must be a trade off. I am likely to ask for CPF Life payout to start at age 70 instead of 65 too. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-61150142812680256202016-06-20T14:10:53.853+08:002016-06-20T14:10:53.853+08:00Hi iwimsasl,
If you have no confidence in the sys...Hi iwimsasl,<br /><br />If you have no confidence in the system, then, the best is to do only what is required by law and not an ounce more. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-81666623499627913762016-06-20T13:21:20.423+08:002016-06-20T13:21:20.423+08:00Hello AK,
I am in total agreement with you. Annu...Hello AK, <br /><br />I am in total agreement with you. Annuities are a safeguard against a financial calamity when we are old. It is longevity insurance for a simple some say spartan retirement. There is no better annuity than CPF life simply because if it run by the government not by financial companies that will be taking a chuck of our annuities as fees. <br /><br />CPF life is not perfect. Bigcatbluehttps://www.blogger.com/profile/15898517058332267889noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-36194445192744549062016-06-20T12:37:28.473+08:002016-06-20T12:37:28.473+08:00Hi AK,
Thanks for your long reply.
My considerat...Hi AK,<br /><br />Thanks for your long reply.<br /><br />My consideration is that CPF members do not have much option to choose and rules keep evolving. As the officer at CPF when answer to some of my Qs also said it's too far & complex.<br />Can I say I dun want to participate in CPF life?iwimsaslhttps://www.blogger.com/profile/10446339986884258399noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-75130523802829955072016-06-20T09:10:04.764+08:002016-06-20T09:10:04.764+08:00Hi Mao Mao,
We know ourselves best and should tak...Hi Mao Mao,<br /><br />We know ourselves best and should take appropriate action based on what we know.<br /><br />Generally, however, I would like to say that nothing is for sure. A child born to 2 short parents has a 25% chance of being tall as an adult, for example. Insurance guards against uncertainty. ;)<br /><br />So, if we believe in insurance, we might want to have an annuity and if we AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-51497527498255808282016-06-20T00:25:53.193+08:002016-06-20T00:25:53.193+08:00I guess there are people who are worried that they...I guess there are people who are worried that they could not live to such a long age e.g. beyond 65 years old. The worry is valid as some people have family history of certain health issues or existing health issues.Mao Maohttps://www.blogger.com/profile/10325600231229140321noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-77970434462686166232016-06-19T22:11:44.648+08:002016-06-19T22:11:44.648+08:00Hi Siew Mun,
I feel that same way. To me, CPF Lif...Hi Siew Mun,<br /><br />I feel that same way. To me, CPF Life as an annuity will provide a basic safety net in my old age whether from age 65 or 70. I have an inkling that I would probably choose age 70. Till then, I will have other sources of retirement income to depend on. I like to think that my approach is a prudent one.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-81942160816233792892016-06-19T22:09:01.155+08:002016-06-19T22:09:01.155+08:00Hi bQ,
This is from my FB wall:
Raymond Ng: &quo...Hi bQ,<br /><br />This is from my FB wall:<br /><br />Raymond Ng: "For whatever reason if one don't think he can live beyond 80, he may consider choosing CPF Life Basic Plan (lower annuity but higher bequest)."<br /><br />This is my understanding too. The rest of the stuff you mentioned, I am not in the know. -.-"AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-20959276752963945042016-06-19T18:39:18.301+08:002016-06-19T18:39:18.301+08:00Look ahead in decades. CPF Life is a one of the me...Look ahead in decades. CPF Life is a one of the means to provide a monthly retirement income be self reliant.Siew Munhttps://www.blogger.com/profile/11468092627549905017noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-35487920980192386802016-06-19T18:06:51.653+08:002016-06-19T18:06:51.653+08:00AK, in that case, I think a good in-between is to ...AK, in that case, I think a good in-between is to choose Basic Plan instead.<br />From my understanding, under the basic plan, only 10 percent of your money in RA will be used to purchase the annuity, the remaining amount will stay in your RA to earn interest.<br />Upon hitting 65 (or later if govt decides to shift it), we will start to draw down on the amount we have in our RA. This will last usbQhttps://www.blogger.com/profile/06223462279131954932noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-15328671092937952072016-06-19T16:07:27.637+08:002016-06-19T16:07:27.637+08:00On ASSI FB page:
Fast Twitch:
I think the issue ...On ASSI FB page:<br /><br />Fast Twitch: <br />I think the issue is that for a young adult, it is tough for him to take CPF life into consideration in his retirement planning. For instance, a chap who is 30 this yr plans to retire at 65. In years to come, the pay out eligibility age shifts to 70. So for this young chap, he needs to find another source of income to support his lifestyle from 65 AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.com