Right now I notice a lot of folks are buzzing about finding ways to use CPF to buy the S&P500 index and the best way to do it is through a mutual fund. CPF does not allow people to buy foreign ETFs so the only way around it is through a mutual fund in Singapore Dollars. It seems like the main buzz right now is to buy it through EndowUs but frankly I do have reservations about mutual funds aka unit trusts. Based on my experience with them, I've never made much money with unit trusts especially with CPF funds. I rather stick to the usual 2.5% interest. Alternatively I have bought some stocks with it. Not all stocks are performing that well but they still pay some form of dividends and that's good.
Meanwhile, they are also increasing the CPF contribution rates for senior citizens about 55 and that's a good thing especially for those who are still employed at age 55 and above. They are also increasing the retirement age.
Whenever I look at my parents, it's a stark reminder to me to try to work towards the Enhance Retirement scheme. I am a long way off from achieving that at the moment. With the steep inflation rates, it's not going to be easy to save and top up for my CPF each year. I'll try my best.
GST will also be increasing from 7% to 8% next year and then to 9% the year after.. With so much costs going up, I hope to get a pay increase to help cope with the increasing costs. Will the employer have some compassion on us? Business is also not doing well so what should I do?
I've just started learning some python and I hope to get far with it. Hopefully this knowledge will help me get somewhere in future.
