The Gahmen is Always Wrong?

Once in a while the Gahmen pushes out a post on retirement planning and some basic guidelines, to encourage citizens to work out a viable financial future. Unfortunately, once posted on Facebook, all they're going to get is a lot of brickbats. Lots of random eggs go flying. The comments kind of irritates me quite a bit.

"Give me back my CPF and I would be fine"

How? Because the individual can do a better job of investing it? Sure, then use your CPF-OA to do so and prove it. Beat the 4-6% annualised over a time span. The ones who succeed probably don't need to depend on their CPF.

"Set a minimum wage"

Well, one company in the US did this. Ends up those who got squeezed in between became highly de-motivated as they found themselves being paid the same as those who used to be a lot less. Overall, it would mean an increase in cost to the business owner. Potentially, they could go out of business? Then no more job? But some could argue that it's a "scare tactic". I say it is very real. The less productive companies will die very quickly. And then there goes that job.

"Set my pay in pace with inflation"

Sure. But why say this to the Gahmen? Unless you're a public servant, they ain't the one paying your salary. If your boss ain't paying you right, time to leave. Else, it's really your fault. Either you suck (at what you do), or you suck (for hanging around).

"Gahmen should top up my pay"

Sure. They already do so through transfers to those who are typically poor or aged or in need of help. But perhaps it doesn't benefit everyone, so it's not felt across the board. Somebody has to pay for all these by the way. The Gahmen doesn't generate revenue from nowhere. Guess who's going to pay?

"Just give me my CPF when I reach 55"

Anything above the Basic Retirement Sum in CPF-SA and the minimum CPF-MA amounts can be drawn out then. So if one doesn't even have the minimum to provide that margin of safety, I'm not sure what's there to talk about. It's not about feeling rich and living like no tomorrow then. It's about the risk of living too long. Could be a happy problem, or a very unhappy one if health and happiness don't work out well. Don't know, haven't reached that point yet.

"I'm 85, it's too late"

My sympathy to the pioneer generation. That generation often have many kids. More kids is a diversification. But sometimes things don't work out well over time - parent's fault, children's fault, etc. If they never got married and have kids, that would be a zero. In addition, their education level was typically lower then. So job opportunities and the pay to go with it would have been a challenge. Help them.

Epilogue

The one that irks me the most was a remark that the cost of living has been going up (it's called "inflation" I think), especially beer. Oh please, stop wasting money and your health quaffing large intakes of beer. Drink green tea lah. It's called living within your means. WTF.

If you're living day-to-day, you will live poor, everyday. Fail to plan, or plan to fail? Having no game plan is just gaming away. Try Toto, might do better, if so.