I remember telling a friend who was disgruntled with the CPF that we don't really have a choice. It is like being married and not liking our mother-in-law.
We can kick our mother-in-law in the butt if we divorce our spouse. We can kick the CPF in the butt if we give up our citizenship.
Fortunately, I rather like my mother-in-law, er, I mean, the CPF.
Some might not have mandatory contributions to the CPF for various reasons and might wonder how the CPF fits in their lives?
Here is one example:
Welcome to my blog. I am glad you enjoy my muttering and mumbling. ;)
With regards to the CPF, people must remember that it is really meant to help Singaporeans fund our retirement.
However, for people with sufficient cash on hand or other means, especially in an environment of low interest rates, they don't really have to use their CPF savings to purchase their homes. They should look at their CPF savings as a back up only to be utilised in case they have to. Well, at least that is how I look at it.
There is an opportunity cost to using our CPF money meant for our retirement to purchase real estate whether for own stay or investment.
I will share our conversation in my blog and a few related posts to see if we could generate an exchange of ideas with other readers. :)
It is very often a matter of perspective.
2. Proposed changes to the CPF system.
3. Buy the biggest/most expensive home?