The email address in "Contact AK: Ads and more" above will vanish from November 2018.


Featured blog.

1M50 CPF millionaire in 2021!

Ever since the CPFB introduced a colorful pie chart of our CPF savings a few years ago, I would look forward to mine every year like a teena...

Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.


"E-book" by AK

Second "e-book".

Another free "e-book".

4th free "e-book".

Pageviews since Dec'09

Financially free and Facebook free!

Recent Comments

ASSI's Guest bloggers

Life was difficult and I wondered if Santa Claus existed.

Monday, September 7, 2015

Many things people want to have or suggest that we have in Singapore are, in my opinion, luxuries for our very small country. 

We have no natural resources and our citizen population is going to shrink in future.

We can be idealistic but I believe in being pragmatic. Maybe, it has to do with the fact that my family almost went bankrupt at one time. 

I still remember the fear I went to bed with each night after my mother told me what being bankrupt meant. I was only 12 years old.

The many years that followed, life was much more difficult for my family but we pulled through eventually. 

My parents made many sacrifices to give us children whatever we needed in life, I am sure. Outwardly, things looked pretty normal but those years were probably very stressful for them.

To my parents' credit, they were self-reliant and did not see our MP to ask for help. 

I don't think it was something they even thought of. So silly, right? 

When they found out much later in life from a friend who migrated to Australia that unemployed Australians (especially if they had children) could get lots of financial help from their government, they were amazed. 

Why would people get paid for not doing any work?

We could cite cases of Singaporean families who must be careful with every single cent they have because they need to be and not because they want to be. My family was once like that.

I believe that we should try to help these families but not to the extent that they forget how to be self-reliant. I believe that they would rather receive help so that they can be self-reliant eventually. 

Of course, there will always be those who can never be self-reliant due to severe handicap but for those who have the potential to be self reliant, living life with dignity is definitely not about getting financial aid forever.

For those who have ample resources which can never be exhausted, being idealistic doesn't hurt. For those who are not in possession of such resources, it is better to be pragmatic than idealistic.

Does Santa Claus really exist? If he did exist, could he share with us the secret to the longevity of his financial resources?


Sillyinvestor said...

Hi Ak,

Really enjoy chatting with u.

I belived more can be done for those who cannot be reliant. While PA has increased, I doubt it is "enough" maybe not as bad as some neighboring countries, but given out strict criteria on PA, the number is not big and I think we can be a bit generous.

I do think that we need to be pragmatic. I am hearing things like no PMET foreginers, etc... No Raising tax etc...

I think many did not realise what are a "unnatural state".

We do not have natural resources, no hither land or big domestic market.

Do put it in a very 夸张Way, we are on steroid... Take it away...

People are worried about not getting their CPF back. I believe it could be a better system, but I think we need to
Worry about the sustainability of the system

CPF at the end of the day, is a fund, an pension fund. When outflow is more than inflow for a extended period of time, it will collapse...

AK71 said...

Hi Mike,

OMG! What are you saying? :o

How come got PAP, PA, PMET and CPF? Aiyoh, how come sound so political? -.-"

I was simply talking to myself as I recalled a childhood nightmare that lasted for many years. Don't think too much, OK?

I just saw your last sentence. A collapse of the CPF? OMG! Another nightmare! Cham... -.-"

Sillyinvestor said...

Lol AK,

My apologies, sick. Hence spouting nonsense. Talk with elections fever !! Pardon me!

AK71 said...

Hi Mike,

Alamak! Sick? That makes the 2 of us. :(

Now, I wonder if I was spouting nonsense all along too? I must write a letter to the North Pole to ward of any legal action against me when I am more lucid. -.-"

Yaruzi said...


There are this sayings:
"Go to the ant, you sluggard! Consider her ways and be wise,
Which, having no captain, Overseer or ruler,
Provides her supplies in the summer,
And gathers her food in the harvest."

There will always be the unlucky ones, which deserve a helping hand. But it will be exception than norm.

AK71 said...

Hi Yaruzi,

Definitely more exceptions than the norm!

If they are the norm, we are in big trouble!

victorlsl1 said...

CPF is people's money. return it. at that age, if still cannot manage, then really cant be helped. don't u agree

Jared L said...

I can't help but resonate closely with your thoughts. I was in a situation where I had to rely on government help at the age of 11. Did I wish for Santa Claus? Everyday I prayed for santa but I am glad that santa never came else I would still be waiting for monthly santa handouts. Today I no longer need santa:)

There is a lot of help for the less well-to-do in Singapore. But these help are not published overtly but if you piece them together, you will see that we are a very generous society. And we managed to maintain this generousity while having a low tax system.

As for all the talk abt withdrawing cpf monies, I am not sure many can generate better returns than cpf life.

Currently only 15% is able to better cpf OA's returns while 40% would have been better off with the OA's returns..

Been hearing too many idealistic talk from people who dun actually find out the facts haha

AK71 said...

Hi Victor,

I have decided to do a blog post in reply to your comment:
What we do with our CPF money is our business.

I kaypoh. ;p

AK71 said...

Hi Jared,

Thanks for sharing you story with us here. Appreciate it. :)

I share your sentiments on how most CPF members would probably not do better managing their CPF money.

Singapore is the only place in the world where can we find a AAA rated sovereign bond that pays 2.5% to 5% coupon. ;)

AK71 said...

I wasn't always financially comfortable. My family came very close to financial ruin. It is hard to really fully recover from something like this. Having more money stashed away is comforting for me.

Monthly Popular Blog Posts

All time ASSI most popular!

Bloggy Award