"Return our CPF" protest in Hong Lim Park (UPDATED).

UPDATE (12-12-2016).

State pension schemes in a number of countries are under tremendous stress. We try to look after our old people but in a sustainable way.

A very down to earth message from a reader, JQ, to ASSI's readers:

"Think of CPF as money that can be used for meaningful purpose than a windfall that you can splurge. If you looked at the flip side, for CPF, you contribute a certain amount, your companies topping up on top of your contribution and the government gives you a nice interest on it, so now whose money is it anyway? entirely yours?" JQ
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Hi JQ,

I liked a certain female politician from the opposition but when she shouted "Whose money is it, anyway?" during her rally, I dropped her from my favorite list.

After so many years blogging about financial matters, CPF or not, there is one group of people I have given up entirely. These are people who are ignorant, opinionated and stubborn. 

If they are rich, they will manage somehow. If they are poor, well, I hope they win the lottery.

AK 
12-12-2016
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Anyone who is in favour of the CPF would have to be very brave to speak up in Hong Lim Park today. Some netizens who were at the protest estimated the turnout to be between 3000 to 6000 people! This is truly mind boggling.

The speakers included Tan Kin Lian, Kenneth Jeyaratnam and the now very famous Roy Ngerng. I checked twice to make sure I got his surname right.

There is a whole lot of unhappiness. There is a whole lot of distrust. There is a whole lot of work for the government to do to diffuse this time bomb. 

Yes, I feel that it is a time bomb.

If not handled sensitively and in a timely manner, it could turn out badly. I am sure no matter whether we are for or against the CPF, we do not wish for the country to sink into anarchy. Think Thailand.

Here are some photos netizens shared on FB:

Read a rather sterile report by Channel NewsAsia: here.

"... distrust is something so emotionally charged that it is guided by its own perilous logic and propelled by its own alarming momentum. It has already widened the original disconnect between the PAP and the people into an almost unbridgeable chasm." Catherine Lim.

Read the full impassioned plea by Catherine Lim: here.

Regular readers know what I think of the CPF and how I believe it could work for us. 

The CPF is a good tool if we know how to make use of it.

However, if people no longer trust the system, then, it is almost impossible to even make them listen.

Related post:
Achieving level one financial security.

Building an income portfolio is like building a house.

After blogging for so many years, I have received a fair number of emails and comments. 

I have no way of telling how many emails I have received in total thus far but BlogSpot makes it easy to see how many comments have been published.

As I make an effort to reply to all emails and comments, half of the comments published should be my replies. 

I have, by now, received more than 10,000 comments from readers.





As I blog about money management and investing for income frequently, it is no surprise that I should receive emails from readers with questions related to these topics. 

Of course, in my replies, I am mindful to tell readers that I am not a financial advisor and I am just sharing what has worked for me. 

I always say that, in my blog, I am just talking to myself.





Although I have received enthusiastic emails from readers both young and old who were thinking of investing for income for a more secure future, I have also received some which had more pessimistic tones although they were willing to give income investing a try.

Even though it would take a bit more work to encourage these people, I was happy because the writers, despite the pessimism and, maybe, scepticism, decided to take that next step in an effort to possibly improve their lives.

As the saying goes, we can lead horses to water but we cannot make them drink. 

If a horse which was suspicious at first decided to taste the water, we should be happy. 

The proof is in the pudding and, in all likelihood, the horse would then drink.





Today, I received a letter from an institution which I invested money in many years ago. 

It is one of those investments that I almost forget that I have. 

I am reminded once a year of its existence when it is time to receive dividends. 

I remember saying this about Hock Lian Seng as well.

You will see that the amount is not big but I have had this investment for so many years. 

So, it adds up. 

The same goes with many of my other investments.

Although how much we receive from each investment is important, how persistent we are in building our income generating portfolio is even more important.





There are many analogies which I like to use when I talk to people about investing and regular readers are probably familiar with the one about grasshoppers and ants. 

The one I am going to share today is about building a house. 

Building an income generating portfolio is like building a house.

When we make our first investment with the intention to build an income generating portfolio, we have taken the first step in building this metaphorical house. 





Over time, as we make more investments, we are putting in the floors, the walls, the windows, the doors and other things which make the house functional.

When the house is complete, our mission is accomplished. 

We could choose to move in and enjoy the house as it is or continue to add features to make it more comfortable or, even, luxurious. 

We might want to put in a gazebo or, maybe, even a swimming pool, for examples.





What we want in a house is quite subjective. 

Similarly, how much we want in passive income will differ from person to person. 

However, what is not different is the need for time in order to build a dream house, to have a portfolio that generates income which we feel is sufficient for our needs and, maybe, wants.

The Chinese people have a saying: 

万丈高楼平地起

Even skyscrapers start from the ground up. 

Don't ask me about the basements though.

For regular people, our first investment for income might not yield much but make more investments over time and we will see how it all adds up. 





Patience is required.

Like they say, all in good time. 

However, time can only be good for us if we do the right things.

...





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1. To be a happy peasant.
2. Save 100% of take home pay.