In a previous commentary, I tried to ask some questions to the readers what they should be unhappy about, when the minimum sum keeps rising.
What refuses to go away is the preaching of Roy Ngerng on 55% of the population not being able to meet the minimum sum.
There are a few things we cannot run away from:
- CPF and Your networth sans CPF make up your total networth
- Its just that your CPF is locked up. But its still part of your networth
- What is meant for retirement (CPF) becomes available to be used for mortgage payments. 50% of your property can go towards meeting the minimum sum
- Normal folks hate that their money is locked up for a long time, CPF or no CPF. They would rather put it in endowments since at most they can surrender them at a loss
- The majority of the people don’t …