I've never heard of people getting "rich" from contributing into a pension or retirement fund... Have meh?
Cognitive dissonance time ;)
Eh... I got to disagree with you on CONTRIBUTING early when it comes to promises written on water by politicians who won't be around when its our time to collect.
My take its better to COLLECT early.
First hand experience looking at those Greeks who retired early on full pension in their 50s, and who are in their 70s or 80s when the Greek crisis struck.
Even if their pensions got reduced by half, they still had 20 to 30 years' "enjoyment" of their full pensions.
Contrast this to those "unlucky" Greeks who turned 55 during the Greek crisis and were told the retirement age goal posts have been moved...
And the "promised" pensions enjoyed by their seniors are now reduced!?
If you are a baby boomer in the US, you'll probably sweat a bit knowing the amount of unfunded liabilities of Uncle Sam.
Of course there will be incentives to "reward" those who delay collecting their pensions just like in Singapore ;)
Delayed gratification is all fine provided its NOT picking pennies in front of the inflation steamroller!
If I'm a US millennial, I don't think I want to depend on Uncle Sam, especially when I see the near bankruptcies in some cities and states...
Singapore? No worries lah! Big daddy will take care of us forever and ever!
Besides the CPF stock tip, I got another stock tip from anyone and everyone...
They say its this HDB BTO "stock".
Ya hor. I've not heard of anyone losing money buying this HDB BTO stock. Have you?
And we can get dividends by renting out a room or whole flat (you stay where that's you own problem/opportunity). No need pay management fees like in REITs too!
Mind you. Don't confuse this stock with its cousin called HDB Resale. That I know people getting burnt once they do things on their own without the tender loving care of big daddy...
Lucky big daddy clamped down on those ever so "enterprising" Singaporeans who tried to partition and rent out - I don't think having "coffin" cubicles like those in HK is something big daddy will be proud of...
And I do like it that we can't airbnb our HDB flats to tourists ;)
I know condos some still tikam-tikam hoping not to get caught. But if I neighbour, I'll be pissed.
What's the point of moving to private condo when its has turned into a glorified backpacker hostel?
Anyone and everyone can walk in and out!? Isn't that HDB heartlands?
Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1.
You can ask the same question to Warren Buffett whether he managed to follow it. LOL.
I do know of a way to do just that. Be a 100% saver and don't invest at all. Not the way I would want to live my life because I only have one life. Some risks will add some color to this precious life.
Hey psst!! I got a hot tip for you ... stock that always go up!!
ReplyDeleteNo BS, it's stock ticker is CPF!!
And it comes in 2 classes, like Warren Buffet's stock!
OA and SA!
Spur,
DeleteWow! Really? Thanks!
Did a quick google on this CPF stock ticker...
No transaction costs at all!!!???
Don't even need broker or open CDP account; and no need to pay SGX's cut, but wait... There's more.
No GST too!!!
Now this is even better than low cost investing :)
Best of all asset classes
DeleteSA and OA are true compounding return financial machine if you started younger or lagi best yr parent started when you are born!
CW,
DeleteWait a minute.
I've never heard of people getting "rich" from contributing into a pension or retirement fund... Have meh?
Cognitive dissonance time ;)
Eh... I got to disagree with you on CONTRIBUTING early when it comes to promises written on water by politicians who won't be around when its our time to collect.
My take its better to COLLECT early.
First hand experience looking at those Greeks who retired early on full pension in their 50s, and who are in their 70s or 80s when the Greek crisis struck.
Even if their pensions got reduced by half, they still had 20 to 30 years' "enjoyment" of their full pensions.
Contrast this to those "unlucky" Greeks who turned 55 during the Greek crisis and were told the retirement age goal posts have been moved...
And the "promised" pensions enjoyed by their seniors are now reduced!?
If you are a baby boomer in the US, you'll probably sweat a bit knowing the amount of unfunded liabilities of Uncle Sam.
Of course there will be incentives to "reward" those who delay collecting their pensions just like in Singapore ;)
Delayed gratification is all fine provided its NOT picking pennies in front of the inflation steamroller!
If I'm a US millennial, I don't think I want to depend on Uncle Sam, especially when I see the near bankruptcies in some cities and states...
Singapore? No worries lah! Big daddy will take care of us forever and ever!
Ohoh I like this!
ReplyDeleteTop Investing Secret Revealed (1 Day Only) :
Only buy stocks that go up in price.
Stocks Investing Number 1 Tip (Only Insiders Know) :
Only buy stocks that go up in price.
Best Kept Secret Of Millionaire Investors Will Stun You! :
Only buy stocks that go up in price.
Mind-blowing Investing Advice Accidently Leaked :
Only buy stocks that go up in price.
..
Click to find out!!! :D
Kevin,
DeleteShh...
Wait I'll be shutdown for sharing the secret that the top 1% don't want to be revealed.
(Those ads are hilarious!)
Hi SMOL,
ReplyDeletePrice action on minute, hour, day or month chart ah? Or year, or decade?!?! :P
Endrene,
DeleteWant to buy, buy.
Don't ask so many questions!
Your england F9 is it?
Just buy stocks that go UP.
Which part you don't understand?
Nice one SMOL!
ReplyDeleteAs a dividend hog, I only buy stocks that go up in price AND give out dividends.
I am still looking for that stock!
mysecretinvement,
DeleteBesides the CPF stock tip, I got another stock tip from anyone and everyone...
They say its this HDB BTO "stock".
Ya hor. I've not heard of anyone losing money buying this HDB BTO stock. Have you?
And we can get dividends by renting out a room or whole flat (you stay where that's you own problem/opportunity). No need pay management fees like in REITs too!
Mind you. Don't confuse this stock with its cousin called HDB Resale. That I know people getting burnt once they do things on their own without the tender loving care of big daddy...
Wait a minute. HDB BTO... CPF...
Hmm... Is there a pattern here?
Oh ... you heard about legend-level HDB BTO MLM?
DeleteNo??!?
Have 3 kids. Force them to get married & get HDB BTOs. Rent out the flats. Kids stay with you, or in their flats' bomb shelters. Whatever.
Get your married kids to produce grandkids ASAP.
Repeat.
Spur,
DeleteI think I'll report your to big daddy!
Lucky big daddy clamped down on those ever so "enterprising" Singaporeans who tried to partition and rent out - I don't think having "coffin" cubicles like those in HK is something big daddy will be proud of...
And I do like it that we can't airbnb our HDB flats to tourists ;)
I know condos some still tikam-tikam hoping not to get caught. But if I neighbour, I'll be pissed.
What's the point of moving to private condo when its has turned into a glorified backpacker hostel?
Anyone and everyone can walk in and out!? Isn't that HDB heartlands?
Another good advice is buy low, sell high.
ReplyDeleteThe logic is undeniable. Sounds good. Show me how well you can execute based on this advice.
hyom,
DeleteAnother one I like to tease/poke parrots of Warren Buffett.
Especially those who like to put down traders as if calling oneself a "Value Investor" would make one holier than thou...
"So, have you managed to follow Warren Buffett's rule 1 and 2?"
Awkward silence...
The braver ones may reply, "But unrealised losses don't count!"
LOL!
SMOL,
DeleteRule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1.
You can ask the same question to Warren Buffett whether he managed to follow it. LOL.
I do know of a way to do just that. Be a 100% saver and don't invest at all. Not the way I would want to live my life because I only have one life. Some risks will add some color to this precious life.
hyom,
DeleteThat's the allure of those who prefer saving their money in CPF through voluntary contributions.
There's no capital loss. At least in nominal terms.
However, those who have gone through (or remember) the high inflation periods of the 70s would have another opinion.
That's why those who were financially literate (or lucky married early) during the 70s transformed their CPF into properties.
Those who didn't, well, you didn't lose money, but your purchasing power got screwed when you look at your cohorts who protected theirs :(
30 years later, those who retired asset rich and CPF poor would be smiling ;)
I'm with this camp.