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Thread: It breaks 3.8

  1. #826
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    Those were the days where I was the wannabe soros where I zeroing in the fluctuation of Pound Sterling and Ringgit Malaysia from the postal money order which I received as donation from overseas to finance my secondary cost of living and studying where I waited until from RM5.50 to RM8.50 to cash out. The payout is far exceeding the amount of interests rate in the banks or finance companies offering as high as 10% per year. ( which went kaput like KSM). Many Malaysian Chinese savings went kaput because of Multi Purpose high interest rate attraction after the scandalous financial history in KLSE

    In my cooking view, there is not much sauce even if the present interest rate is 8.8% in EPF while the Ringgit is falling about 30% in value There is contra-indicated where the local goods or imported goods like veggies from Cameron Highland shoot up like 30% from cabbage to petai from Thailand to 50% from Aussie carrot about 50%. Even garlic shoot up to 300% since last year.

    The Singaporeans that i know have no choice but to contribute to their EPF but would withdraw it at the opportune time to buy houses or pigeon homes to hedge against inflation.
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  2. #827
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    Quote Originally Posted by zinglicious View Post
    .......In my cooking view, there is not much sauce even if the present interest rate is 8.8% in EPF while the Ringgit is falling about 30% in value. There is contra-indicated where the local goods or imported goods like veggies from Cameron Highland shoot up like 30% from cabbage to petai from Thailand to 50% from Aussie carrot about 50%. Even garlic shoot up to 300% since last year. ....
    Really....

    I have to assume you did not get a good grade in your maths exam during your school time..

    Percentage is not an absolute measurement, it has to be combined with the quantum in order to assess the impact. In other words, the difference of interest rate or dividend rate has to be multiplied with the quantum. Let me use your assertion of RM falling 30% in value and the impact on food price as an example...

    I think generally, a "middle-class" family in USJ/SJ will spend around RM5000 in food expenses per month. An increase of 30% in food price will simply means extra RM1500 per month. Assuming the family have combined RM500,000 in epf savings, 6% annual dividend is RM30,000 a year or RM2500 a month. This amount will be more than enough to offset the increase in food price and other living expenses. And honestly and seriously, if the food expenses of a family is RM5000 per month, I am sure the combined epf savings of the family will not be in the low range of RM500k, it would be much higher.. {correct me if I am wrong }

    So, what is your problem when RM is falling against foreign currency ? You go for overseas vacation every month ??

    The gain from the higher interest rate here will be more than enough to offset the extra in living costs provided you have the kind of quantum to generate the required return. So, I guess the problem is not entirely the RM, it is also depend on how you can utilize the strength of the fiscal policies here..
    Last edited by opulant; 15-01-2017 at 05:42 PM.

  3. #828
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    You are Korek that I did not get good grades in Add maths......add this and subtract and multiply to divide for the numbers to be equated. The Numbers i like is Kuda to Magnum and Toto Jackpot. Only two set of 4 digit nombor to be millionaire without homework. to crack my brain.

    In my Hell Kitchen, the cost of my veggies , herbs and spices is the Y factor to profitability if I continue cooking. as chef owner.

    It would be a different cerita if I were to cook the books....... and I am planning to go to the States to set up my son for high school. But now, I am 30% short.
    TASK - Trust, Attitude, Skill, Knowledge - Signatures of those who believe in excellence for any task entrusted to them - Alwin Tan @ all rights reserved
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  4. #829
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    Other X factor are those taking medications......be prepared not to get shocked by the medical bill of prescription drugs...... either generics or patented. Definitely not for the faint heart patients to read the billings

    And for those on the roads, high bills comes in empat roda, battery and spare parts to maintain the kuda that goes fast and furious
    TASK - Trust, Attitude, Skill, Knowledge - Signatures of those who believe in excellence for any task entrusted to them - Alwin Tan @ all rights reserved
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  5. #830
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    Quote Originally Posted by zinglicious View Post
    .....there is not much sauce even if the present interest rate is 8.8% in EPF while the Ringgit is falling about 30% in value . There is contra-indicated where the local goods or imported goods like veggies from Cameron Highland shoot up like 30% from cabbage to petai from Thailand to 50% from Aussie carrot about 50%. Even garlic shoot up to 300% since last year.

    Really....

    One needs to know how to utilize the strength and mitigate the weaknessess of different currency and interest/dividend return. For example, I have done a simple comparison between the historical dividend of EPF and CPF..

    Assume you have MYR100 and SGD100 in EPF and CPF respectively 20 years ago..

    After 20 years of compounding interest as a result of the annual dividend.

    - Your EPF will grow to MYR311
    - Your CPF will grow to SGD163

    This means life will be tougher when you retire in Singapore because the money grows so little in Singapore. After 20 years, you money only grow 63% in Singapore. However, if you bring the SGD to Malaysia to retire, then SGD163 is now worth RM520 (based on current conversion rate).

    The above is a simplistic comparison. I did not include the annual contributions which will skew the compounding impact even worse in Singapore. If you are the middle class in Malaysia (I mean middle class, not the so-called "middle class" ), imagine the advantage you have gained over the past 20 years or 30 years due to the higher dividend rate !!

  6. #831
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    Quote Originally Posted by opulant View Post
    Really....

    One needs to know how to utilize the strength and mitigate the weaknessess of different currency and interest/dividend return. For example, I have done a simple comparison between the historical dividend of EPF and CPF..

    Assume you have MYR100 and SGD100 in EPF and CPF respectively 20 years ago..

    After 20 years of compounding interest as a result of the annual dividend.

    - Your EPF will grow to MYR311
    - Your CPF will grow to SGD163

    This means life will be tougher when you retire in Singapore because the money grows so little in Singapore. After 20 years, you money only grow 63% in Singapore. However, if you bring the SGD to Malaysia to retire, then SGD163 is now worth RM520 (based on current conversion rate).

    The above is a simplistic comparison. I did not include the annual contributions which will skew the compounding impact even worse in Singapore. If you are the middle class in Malaysia (I mean middle class, not the so-called "middle class" ), imagine the advantage you have gained over the past 20 years or 30 years due to the higher dividend rate !!

    I think I have written somewhere in this forum before about CPF. I am lazy to find where is the posting. As mentioned before, the objective of CPF is different from EPF.

    EPF - a long term Saving Account with monthly contribution from the contributor and interest payout by the board – nothing more than that. Like usual, once it reaches its maturity, one can withdrawal the principal sum plus interest. Thereafter, EPF has nothing to do with you – clear cut. You are on your own be it on housing, living and medical expenses. Too bad if one happens to use up his savings then he got to find his own mean to live on.

    CPF – a lifelong holistic care scheme. In a nutshell, CPF with comparatively lower interest rate, it takes care of a person holistically till his passing be it on living, housing or medical expenses. As long as one is alive, we ensure he has a roof over his head and we will never leave him behind without care as the nation progress.

    https://www.cpf.gov.sg/
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  7. #832
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    Quote Originally Posted by HTCHONG View Post
    I think I have written somewhere in this forum before about CPF. I am lazy to find where is the posting. As mentioned before, the objective of CPF is different from EPF.

    EPF - a long term Saving Account with monthly contribution from the contributor and interest payout by the board – nothing more than that. Like usual, once it reaches its maturity, one can withdrawal the principal sum plus interest. Thereafter, EPF has nothing to do with you – clear cut. You are on your own be it on housing, living and medical expenses. Too bad if one happens to use up his savings then he got to find his own mean to live on.

    CPF – a lifelong holistic care scheme. In a nutshell, CPF with comparatively lower interest rate, it takes care of a person holistically till his passing be it on living, housing or medical expenses. As long as one is alive, we ensure he has a roof over his head and we will never leave him behind without care as the nation progress.

    https://www.cpf.gov.sg/

    In Singapore, every employee (if they are Singapore citizen) will have to contribute 20% of salary to CPF and employer has to pay 17%. This is mandatory contribution, no option. Upon 55 years old, the contribution rate will be gradually reduced if they are still employed. In other words, from the 1st day one started working until the last working day before 55 years old, a sum equivalent to 37% of one's monthly salary is flowing to CPF every month. This is a huge sum of money over many decades. The statutory minimum retirement age in Singapore is 62, but employee can be re-employed until 65. So, if one started to work at 25 and retire at 65, the contributions to CPF will be 40 years.


    As you are aware, people have different needs and this include different objectives of their retirement/pension fund. What happens if they are people who don’t need all these - it takes care of a person holistically till his passing be it on living, housing or medical expenses ??

    People in this category can take care of themselves well during employment and after employment. Their income is sufficient to give them above average living quality. Their employers can provide them a good quality healthcare and to a certain extent, the healthcare of their family members as well . What these people really want and need from their money is - the growth rate of their CPF money should be at least on par with other investment products, if not better.

    ...and they are not small in numbers, the last time I checked they are slightly more than 150,000 USD millionaires in Singapore and majority of them are employees, not entrepreneurs..

  8. #833
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    Quote Originally Posted by opulant View Post
    In Singapore, every employee (if they are Singapore citizen) will have to contribute 20% of salary to CPF and employer has to pay 17%. This is mandatory contribution, no option. Upon 55 years old, the contribution rate will be gradually reduced if they are still employed. In other words, from the 1st day one started working until the last working day before 55 years old, a sum equivalent to 37% of one's monthly salary is flowing to CPF every month. This is a huge sum of money over many decades. The statutory minimum retirement age in Singapore is 62, but employee can be re-employed until 65. So, if one started to work at 25 and retire at 65, the contributions to CPF will be 40 years.


    As you are aware, people have different needs and this include different objectives of their retirement/pension fund. What happens if they are people who don’t need all these - it takes care of a person holistically till his passing be it on living, housing or medical expenses ??

    People in this category can take care of themselves well during employment and after employment. Their income is sufficient to give them above average living quality. Their employers can provide them a good quality healthcare and to a certain extent, the healthcare of their family members as well . What these people really want and need from their money is - the growth rate of their CPF money should be at least on par with other investment products, if not better.

    ...and they are not small in numbers, the last time I checked they are slightly more than 150,000 USD millionaires in Singapore and majority of them are employees, not entrepreneurs..
    If it is that good, why I read that 30% Singaporeans both young & elderly want to migrate somewhere..

    Kiasu??

    So many of them here in Perth

  9. #834
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    Today's Maybank rates: http://www.maybank2u.com.my/mbb_info.../BTRE-Treasury

    Still no light at the end of the tunnel. If there is, it is an oncoming train.
    " In the land of the blind the one-eyed-jack is king."

  10. #835
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    Quote Originally Posted by Naka View Post
    If it is that good, why I read that 30% Singaporeans both young & elderly want to migrate somewhere..

    I don't know what you refer to... ? Can you elaborate a bit more..

  11. #836
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    Quote Originally Posted by opulant View Post
    I don't know what you refer to... ? Can you elaborate a bit more..
    That was a survey in Singapore in 2016, most prefer kangaroo land, everyone know it's down there, so came and left but many do stay put.

  12. #837
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    Quote Originally Posted by Naka View Post
    That was a survey in Singapore in 2016, most prefer kangaroo land, everyone know it's down there, so came and left but many do stay put.
    So, you are saying many Singaporeans want to migrate to kangaroo land despite SGD is so strong, CPF is so good and HDB flat is such a nice idea.

    I also read similar survey but the survey result shown Malaysia is the prefered choice. I guess those who choose Malaysia are the poor folks in Singapore who hope to have a better retirement quality in Malaysia with their stronger SGD...

  13. #838
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    If I am a Westerner getting my pension in GBP, USD, AUD or Euro I would want to settle in this part of the world (except Singapore) in retirement. It is relatively so cheap. I can also get away from the freezing winters. What's not to like?

    I can always pop over to Singapore for a visit whenever I like but I wouldn't stay there for obvious reasons.
    " In the land of the blind the one-eyed-jack is king."

  14. #839
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    Quote Originally Posted by opulant View Post
    So, you are saying many Singaporeans want to migrate to kangaroo land despite SGD is so strong, CPF is so good and HDB flat is such a nice idea.

    I also read similar survey but the survey result shown Malaysia is the prefered choice. I guess those who choose Malaysia are the poor folks in Singapore who hope to have a better retirement quality in Malaysia with their stronger SGD...
    Can you tell me the cost of HDB flat ?



    P/S....just found this:-

    http://neurotic-ramblings-sg.blogspo...apore.html?m=1

  15. #840
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    Quote Originally Posted by Naka View Post
    Can you tell me the cost of HDB flat ?
    I think it is about SGD200k for a 3 rooms flat, SGD300k for a 4 rooms flat and SGD400k for a 5 rooms flat.

    Please take more that the hall is included as one room !! For example, a 3 rooms flat is actually 2 bedrooms only as the hall is already included in the 3 rooms classification !!

    According to my cousin who work as a teacher there, he has to give up the idea to remain as PR if he wanted to buy a 1st hand HDB flat. New HDB flat is for citizen only, PR can only buy in the second-hand market which is at least 30% more expensive...

    Btw, the price of HDB flat is definitely not the actual market price. It has been heavily subsidized by Singapore gomen in their effort to provide affordable housing to the majority..
    Last edited by opulant; 17-01-2017 at 12:49 PM.

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