Have you ever heard a phrase like this:  “I don’t reed bonds in my portfolio because I have CPF, which is like a bond. Therefore I invest in a 100% equity portfolio.”? Is CPF a bond or behaves like a bond? In short, the Central Provident Fund or CPF is a government-managed system designed to help Singaporean and permanent residents plan and set aside money for their future, namely, retirement. It has, however, evolved into a very complicated scheme. Hence, I would like to explain CPF in simple terms and propose that CPF is more of an insurance product than a bond. We will start by looking at CPF at the various milestones: Before the age of 55At the age of 55At the age of 65 Before 55: A Fixed Deposit Account A fixed deposit account pays a higher interest compared to a regular savings account.  That higher interest comes with a...