Re: Life is a struggle.You struggle ... again & again. And one day, you triumph
[QUOTE=cbsh38584;538926]https://www.youtube.com/watch?v=t6m49vNjEGs&feature=shareThe era of hyperinflation---------------------------As US dollar is a global currency. So they can run a trade deficit for past 40 straight years. It can print & pay people dollars as long as the world are willing to accept it. They can perpetually consume more than what they can earn (earn3k spend 4k). So never before has there been so much money & rarely has money been so cheap (zero interest). Yet the US FED , European & Japan central bank continue to pump hundred billion of dollars in the world. We have been flooded by trillions of $ in the world. Can they continue to print & sustain for the next 5-10 yrs ?Alan Greenspan (early 2000) - No Chance of Default, The US Can Always Print Its Way Out Of DebtBernanke - Student debt (US$1 trillion $) no threat to U.S. financial system. They can continue to print.Former US president Obama - Its administration turns on money printing machine Trump - 'print money' to lower the national debt (US$21 Trillion)--------------------------------------------------------------------------------------------------------------------------------------------------1978 - HDB 4 room flat price = $24k. HDB valuation est $400k (2018).Fixed deposit in the 1970s is 8%-9%2016 - HDB 4 room BTO flat price = $400k (without HDB grant). Fixed deposit rate is 1.2% to 1.5%. Saving rate is 0.2% 2012 - Queenstown HDB (1700sqft) sold at $1 million 2017 - More HDB Resale Flats Hit The $1 Million Mark 2018 - Holland drive HDB 1259sqft (38 floor) sold at $1.1m2018 - Clementi HDB 5 -room flat at Clementi Towers sold at $1.068m & more to come.So protect yourself from inflation .Buy the biggest HDB BTO if you can. Biggest BTO means U get the biggest subsidy. My friend bought his 1st BTO 5rm flat $300k plus in 2006. Recent transaction 630k to 700k. He is trying his luck again to get a 2nd time BTO flat. His father (Msian - age 70) lost a lot of money in Msian stock. He commented that S'pore HDB is a best govt subsidise BTO HDB flat worth buying & to make money.My friend bought "govt" EC at 350psf in early 2000s. Recent transaction 700+psf. But don't ever buy 2nd private ppty if your job is not secured & you have to increase your debt which lead to precarious situation. A guy retrenched from Starhub (senior position). He got to sell away his 2nd private ppty to reduce debt.My (late 50s) sold Yishun 4 rm flat (80 yrs lease left - >$350k). Downgrade to 3 rm BTO flat (reset to lease 99) cost less than 280k. Some surplus money of go back to her CPF retirement fund. My relative (Single age 64). Downgrade from 3 rm flat (320k). Successfully got a new BTO 2 rm flat @55k After HDB grant (without grant 80k) . It is only 30 yrs lease. His Retirement needs is further strengthen.Medical cost inflation is getting higher and higher.=====================================Our Medishield premium to cover (compulsory) all S'porean & PR has been increasing by 100% to 200% since it implementation in 2015. It will continue to increase.You are likely to pay est $150k or more premium from age 1 to age 85 if you hv Basic Medishield + (optional) integrated plan (govt A class ).You are likely to pay est $250k or more premiun from age 1 to age 85 if you hv Basic Medishield + (optional) integrated plan (Private A class)But if you have just the Basic medishield life. It will be so much cheaper. But it does not cover all medical expenses + waiting time is so much longer. HEALTH IS ALWAYS NOT VALUE until Chronic disease comes. Pls ALWAYS keep a healthy life style. Exercise more, drink more, listen to meditation music more, be more forgiving to lead less stressful life etc etc.2018 - Medisave acct ceiling limit is $54,5002019 - Medisave acct ceiling limit is $57,200 (5% INCREASE)2020 - Medisave acct ceiling limit is $60K ??? To be advised by CPF board.SG society (or our govt) is the kind of society that does not let it's people rest especially those working people. U will Work & work till beyond age 65 if you dont plan your retirement early using CPF as a retirement tool. Go for your retirement need as No1 priority. Meet the full retirement sum 4-5% (now 176k) as early as possible . Then you can start to invest in bank shares (timing is important) or even buy 2nd ppty if you are very comfortable to service your 2nd ppty for very long term without any problems.U work 50-60 hrs a wk with stressful office politics & still struggling to provide a decent meal for family. In the meantime the high flyer banker just sit down behind a computer with a keyboard making millions of money in just minutes. This how the Richs get richer. The power of cheap money.This is not only wrong. This is maybe evil system created by the central bank who keep printing $$$. Now the US wants China to open up " wide " its financial sector so that they can implement this "evil banking system" into China. All of my China friend don't making $ in China stock mkt. The reason for losing is always "GREEDY".My last 9 yrs (since 2010) in buying bond has been doing reasonable well with leveraging (borrowing cost 1% to 1.6%). Now less leveraging due to higher borrowing cost (2.5% to 3.5%). My tgt to have $100k in my SON CPF SA b4 age 18.My wife CPF full retirement sum (176k) is already met
Re: Life is a struggle.You struggle ... again & again. And one day, you triumph
Prime minister - We have the RIGHT POLICIES in place. Take some from the Richs & help the poor.Already increased ABSD - To prevent speculation & also collect more tax (stamp fee) from the Richs & foreigner investors.TDSR - To prevent those marginal ppty investor (short term investors) wanting to increase the mortgage debt without knowing the risk that he may face job losses.Compulsory Medishield life (started in 2015) - Private A/B1 class subsidies the poor who opt for Govt b2/C ward.Compulsory Careshield will start in 2020 (from old Eldershield- optional which I opt out) - Start at age 30 instead of age 40.Water - 2nd phase of 30% of water price increase kick in on 1st July 2018.2nd phase of Right policies not yet in place===========================GST from 7% to 10% after 2025 ?Open Electricity market plan - can get 20% cheaper if chose them (electricity retailer) instead of PUB. Not sure how it will impact us in the future.CPF life payout eventually have to start at age 67 ( after 2025 ? 2030) ? as they lives longer. My neighbour old uncle age 100 this year. Grandma age 95. Still very healthy.More to come.