Should i contribute CPF?
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Work as a waiter. Receive cash daily. Should i contribute CPF voluntarily? What benefits will I get. Also, During reservists how to claim up make pay if i dun have CPF. During annual money giveaway in growth dividends, how can i maximise my money received? Mine this year is only 600 which comes from dividends + serve army + GST credit. I read about some work portion of money which i seems to have not receive.
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It's entirely up to you, but I wouldn't contribute to CPF if I could....cos I also don't think I can outlive my CPF, probably see GOD before I can even collect any CPF.
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CPF's interest rate is damn bloody low... Don't tell me it is "guaranteed returns", because there are many many others low risks methods to get even higher returns than CPF. Furthermore, you might not get back all of your CPF before you move on; you never know when they will raise the retirement age again. They have done it a few times; expect them to do it again.
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dont contribute would be a better option for you. dont think about retirement age and drawing your CPF money out yet la, in the short term, ur CPF is to help u pay for ur future education, ur HDB flat, ur son's education and ur medical bills (medisave).
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u dun need cpf if u think u can save....a lot!
But do u think u can really save? cpf is forced saving which many of us cannot do. it's $$$ needed when we are down & out.
and when u need to buy flat
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Originally posted by Cowbaycowboo:
But do u think u can really save? cpf is forced saving which many of us cannot do.
Not only that, it's a forced savings where you just cannot happily withdraw whenever you want to, Which IMO is good, esp when you want to get your own flat/condo/bungalai/etc or when retiring.
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if u think ur a impulsive spender, and u want to force urself to save then, contribute..
if not there are alwys other investment vehicles that could offer u higher returns.. some locks it for u too..
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but seriously put it this way.....the really "FORCED" savings by our gahmen is not easy to stomach but then come to think of it and look ard ourselves, it's the only way out.
perhaps many of us are well to do and do not realise how many are in deep shit. many sick and olds are left to fend for themselves. it's harsh realities like it anot. modern parents nowdays are lucky if their kids dun walk out on them, say when they reached 18 or 21.
ask how many parents still get to go out with their kids???
so the gahmen foreseen the trend and forced all of us to save thru CPF. Only the filthy rich can survive the old age without cpf perhaps. BUT not the 80% or more singaporean who may have to depend on that measly 300-400 bucks a month to survive.....forgotten by their childrens who were long gone liao
busy wif their owns.