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I did not have a positive view of CPF when I first started work 20 years ago and received my first CPF account statement. Like many Singaporeans, I saw it as “forced” savings, taking away part of our pay before we even had a chance to use it. Years later, after reading up more on personal finance, my perspective changed.
I now treat CPF as a source of funding for our household financial planning, instead of something that hinders our retirement. In fact, I now believe it is a necessary scheme especially for people who do not have the discipline to save.
One of the first things I did with our CPF, for both my husband and I,was to invest our ordinary account savings but not without learning a hard lesson first. That was some 15 years ago. Armed with new-found knowledge ...
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