Budget 2024! 16Feb24

[Tianmo]

On 2/17/2024 at 2:49 PM, TangoCharlie said:

斗米养恩，担米养仇

I have to Google.... 👍😅

I can only say 不忘初心.

Well, here sound like 担米养仇 isnt it?

初心 goes to RA, 没忘没忘. 

 

 

Edited February 17, 2024 by Tianmo

[Tianmo]

On 2/17/2024 at 2:52 PM, mersaylee said:

Yalor...men press calculator no use...betterer to let heaven press calculator...😁

So going forward I will have to be happy if return remains the same? 

 

[Vratenza]

On 2/17/2024 at 2:36 PM, Tianmo said:

I don't disagree, and it's a choice I made, so it is what it is.  It's hard to beat SA rate because it's given to us by ah gong, guaranteed bao jiak, while they undertake the risk. Only condition is all the money inside is locked and the return is decided by ah gong. 

What I wanted to say was, after reading so many comments, I have to accept why 小恩养贵人，大恩养仇人, if you get what I meant.

 

now I don't feel so bad to let my SA sitting there doing nothing all these while even when it already hit the limit quite a few years ago....😁

[Wt_know]

On 2/17/2024 at 3:38 PM, Vratenza said:

now I don't feel so bad to let my SA sitting there doing nothing all these while even when it already hit the limit quite a few years ago....😁

can also put the rest to the debate of "is it worth the effort" to shield here shield there

property huat ah! more moola pump into OA ...

propertyguru should recommend remove ABSD permanently for property 2 and 3 ... LOL

Edited February 17, 2024 by Wt_know

[Voodooman]

On 2/17/2024 at 1:10 PM, TangoCharlie said:

Not yet but plan to. I am very late in diversifying my investments so happy to have something that is at the other end of risk spectrum. 

ERS will not pay higher yield than FRS or BRS. Could be due to the higher interest rate for the first 60k.

A better comparison will be if you are able to get higher yield for similar risk or product for that sum of money. Do share if you come across any. 

Can't really compare an annuity (regular cash flows with zero residual value beyond x years) with other financial instruments with a yield and a maturity value. They serve different purpose.  

Haven't done the full maths on the new ERS, i might just go for it but at first glance, think i might just use the money to buy more bonds or buy into a global funds. 

 

[mersaylee]

On 2/17/2024 at 3:08 PM, Tianmo said:

So going forward I will have to be happy if return remains the same? 

 

Whatever your 初心 is...感恩 or 敢earn no matter...happy can liao 😁

[Fcw75]

On 2/17/2024 at 12:32 PM, Kopites said:

*Sweetener " if you are living by food to mouth.

Is "bitter pill" for me. 🤔

I think you meant eat from hand to mouth.

 

The poor, they eat from hand to mouth
The rich are drinking from the golden cup

[RadX]

On 2/17/2024 at 8:27 PM, Fcw75 said:

I think you meant eat from hand to mouth.

 

The poor, they eat from hand to mouth
The rich are drinking from the golden cup

Maybe he meant CIM? Dunno?😂

[Mustank]

On 2/17/2024 at 12:04 PM, Voodooman said:

You did ERS?

I plan to do FRS unless the new enhanced 4x ERS pays better yield then FRS. 

I don’t think ers payout is 4x of brs

If it is, it is attractive

ers capable folks knows they are using the ers to help the brs folks

Now ers capable folks are thinking:

go for ers or

go for other investments 

[RadX]

I say dun do ERS!!

[mersaylee]

On 2/17/2024 at 8:47 PM, RadX said:

I say dun do ERS!!

Why leh? Issit becos...😅

[Wt_know]

On 2/17/2024 at 8:47 PM, RadX said:

I say dun do ERS!!

yeah. FRS is besterest ....

ERS win if you outlive msia lao ma ...  

Edited February 17, 2024 by Wt_know

[TangoCharlie]

On 2/17/2024 at 5:29 PM, Voodooman said:

Can't really compare an annuity (regular cash flows with zero residual value beyond x years) with other financial instruments with a yield and a maturity value. They serve different purpose.  

Haven't done the full maths on the new ERS, i might just go for it but at first glance, think i might just use the money to buy more bonds or buy into a global funds. 

 

How cpflife compared to other annuity offered by insurers like the one below.

For other instruments, agree it's difficult to compare 

 

[Voodooman]

On 2/18/2024 at 8:43 AM, TangoCharlie said:

How cpflife compared to other annuity offered by insurers like the one below.

For other instruments, agree it's difficult to compare 

 

Hard to beat CPF life.

I won't consider this. Yield on face value seems very low for gteed amount.

[Butakim]

CPF Life payouts is not guaranteed. It is stated clearly on CPF website. 

I'm having seconds thoughts on putting ERS.

If SA can be closed on a policy change, my concern is that CPF Life payouts might be changed as well. The govt might decide to change the withdrawal age or payout amount sometime in future. 

Edited February 18, 2024 by Butakim

[Soya]

On 2/17/2024 at 8:39 PM, Mustank said:

I don’t think ers payout is 4x of brs

If it is, it is attractive

ers capable folks knows they are using the ers to help the brs folks

Now ers capable folks are thinking:

go for ers or

go for other investments 

I topped up cash from FRS to ERS to max out the 4.08% and left my SA intact thinking I can withdraw the full ERS sum b4 CPF Life kicks in. But later discovered onli can withdraw 20% of the ERS sum.....KNN

Now ah wong wanna close my SA n throw all my $$ into the ERS jail for life...with no extra interest...KNNCCB! Scholar logic realli first crass 

Come Dec limpeh gonna withdraw all my SA go huat MBS b4 they lock up $$ n throw away the key in Jan 2025

 

[mersaylee]

On 2/18/2024 at 10:53 AM, Soya said:

I topped up cash from FRS to ERS to max out the 4.08% and left my SA intact thinking I can withdraw the full ERS sum b4 CPF Life kicks in. But later discovered onli can withdraw 20% of the ERS sum.....KNN

Now ah wong wanna close my SA n throw all my $$ into the ERS jail for life...with no extra interest...KNNCCB! Scholar logic realli first crass 

Come Dec limpeh gonna withdraw all my SA go huat MBS b4 they lock up $$ n throw away the key in Jan 2025

 

Just donch be like me...yesterday was 初八...thot by making one round to MBS I could bring home some good luck to strike beh beo...kns...a wasted effort...becos I parked the car at marina SQUARE...walked there and back eventually everything also back to square one...😂

[Wt_know]

On 2/18/2024 at 10:41 AM, Butakim said:

CPF Life payouts is not guaranteed. It is stated clearly on CPF website. 

I'm having seconds thoughts on putting ERS.

If SA can be closed on a policy change, my concern is that CPF Life payouts might be changed as well. The govt might decide to change the withdrawal age or payout amount sometime in future. 

there is a "huge" difference between SA and RA -> CPF Life

SA = your account ... your money ... the more you save, the more interest you have, the more compounding value -> can withdraw song song gao jurong

4xBRS aka ERS -> RA -> CPF Life = a pool of money ... it's an annuity that fund the safety net for "entire nation elderly"

isn't it ?

Edited February 18, 2024 by Wt_know