Category: Retirement

To Seniors: 5 Reasons Why Renting is the Better Choice

National Day rally singapore 2014
Sorry, but I disagree with you – home ownership is not always the best thing!

When Prime Minister Lee Hsien Loong listed the various ways in which a “cash poor” senior can get extra income from his/her home in retirement, he said, “It is better if you keep your property. Even if you rent out the whole flat. It does not matter, it is yours. And you can fall back on it for your old age, just in case anything happens.” Here’s why I disagree, and why I think selling then renting is a viable option. (more…)

How the Singapore CPF compares to US Social Security

CPF may have some issues, but it's nothing like the US Social Security system, and that's a good thing!
CPF may have some issues, but it’s nothing like the US Social Security system, and that’s a good thing!

There have been many articles and blogs lately about the fairness and viability of the Singapore CPF. As a new PR to Singapore, I know that I have much more to learn and understand on this topic; in no way do I claim to be an expert in it. But I am quite familiar with the US Social Security scheme, its current status and future viability. Since one blogger in particular has compared the two retirement schemes, skewing his findings in favor of these western schemes, I would like to shed some light on some of the “heart truths” about the US Social Security system (all backed by references, of course). (more…)