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 questions and comments made by some people there.

I am amazed that there are more than 10 pages of comments and I am even more amazed by some of the comments made.






There is plenty of ignorance in that thread.

There is also so much "jelly" that HWZ can start a dessert shop.

What about HWZ starting a grocery since there are plenty of grapes too but they are of the sour variety and might not sell well?

So, how like that?

Read:
Jin jelly or jin buay song my CPF?






If only people bother to find out the facts instead of reading fiction. 

Either way, we are spending time.

Want to spend time reading something useful or something useless?

If they did find out the facts, they would realise that the CPF is here to help ALL members to achieve a basic level of retirement funding adequacy.

Read:
A cornerstone in retirement funding.







Fortunately, there are also voices of reason in that forum and I am very happy for them.

Honestly, many rich people I know would like to park more of their money in their CPF accounts but they are not allowed to do so as the CPF is not a system created to make the rich richer.

Unfortunately, often, people who should be making use of the CPF system more in order to retire more comfortably are the ones keeping their distance.

Read:
Purpose of the CPF is to make the rich richer?






Complaining is not going to help us understand the system.

Complaining is not going to make the system work for us.

Instead, find out more about the system and see how it could possibly work to our advantage.

It is really about helping the system to help ourselves.





HWZ Forum says:

Is AK really blogging about his CPF savings to show off and because he has no life?

I blur.

I don't know why some people are laughing at my CPF savings.

Really, I blur.

However, I know I am laughing because I have my CPF savings.

The CPF will help us secure a measure of retirement funding adequacy because we will retire with

1. an investment grade bond (excess beyond prevailing Full Retirement Sum can be withdrawn at age 55)

and

2. a lifelong annuity (CPF Life) that pays us monthly from age 65.










I blog about the CPF and my journey with CPF extensively.

If anyone is willing to put in the effort to read, they will find the answers here.

Of course, I understand that it requires less effort and it is probably more thrilling to take potshots and in the dark too.

I hope for the sake of these thrill seekers that they are not throwing boomerangs at me.





Related post:
My 2018 CPF savings.

2018 CPF savings in a pie chart. (Growing CPF savings.)

There is always some risk when it comes to investing in stocks and there will always be some degree of price volatility.

Not everyone is able or willing to take risk when it comes to their money and not everyone is able to stomach price volatility well.

Some get sick from the volatility and some even die from it.

This is why we are fortunate in Singapore to have the CPF.







CPF members should take full advantage of this risk free and volatility free instrument that pays reasonably attractive coupons.

Yes, I say coupons because I look at my CPF savings as the risk free and volatility free investment grade bond component of my investment portfolio.






Having a meaningful amount of CPF savings will give most of us peace of mind as we cannot reasonably expect every year to be a good year for our investments.

In my retirement, lacking mandatory contributions to my CPF account, I have been voluntarily contributing to my CPF account and here is what it looks like at the end of 2018:

$845,373 at the end of 2018 and that was at the ripe old age of 47 too.

By age 55, more likely than not, my CPF savings will be in excess of $1 million.

To the very rich, $1 million might not be a lot of money but to the vast majority of us, I am sure it will make a meaningful difference in funding our retirement.

This is why I share my CPF story.

Unless we are handicapped in some way, I believe that if we put in enough effort, we can become CPF millionaires.






If you are a CPF member and have yet to max out the benefits of your membership (think FRS and BHS), read this blog:

CPF is all we need unless we are very rich.


Many or most Singaporeans do not realise what a good thing the CPF is.

Haven't reached the prevailing Full Retirement Sum (FRS) in your CPF account and thinking of buying a bond fund?

If you have yet to hit the Full Retirement Sum, why bother with bond funds?









Want a financially more secure retirement?

It is really as easy as ABC, er, I mean as easy as CPF.

Believe me when I say:

If AK can do it, so can you!




If you haven't listened to the song, listen, there is a hidden message.





Related posts:
1. Voluntary contribution to CPF MA (2019).
2. CPF interest earned in 2018.
3. Financial security plain and simple.