Let's not fool ourselves.
This is singapore, everything has to be paid for if you live here. Water, electricity, waste disposal, food. You can't grow anything in your backyard, if you do have a backyard, you don't need your CPF.
The basics will take a few hundred a month. Move beyond getting 3 meals n your home, more money is needed.
How long do you think half a million is going to last? 3 car lifetimes n it'll eat up the entire sum.
I can understand you want to argue logically and sincerely against the motion but would you not want to think a little deeper and clearer to compare to something more realistic and true life?
3 car life time as the next logical expenditure example "beyond" taking care of food on the table???? You have any idea how many car owners are there in Singapore to justify that leap of belief example and how many would be buying or driving a car in their older age group if they EVER could afford it? I can appreciate your passion to argue the motion but let's get a little real with the way you would rationalize the so called typical Singapore citizen's life style and spending pattern as we age. You need to lend credibility to support your argue thus your example for argument sake must be more true to life to make your case.
I have way more then half a million in my CPF but ,,,, let's use your half a million for the sake of argument, with my present life now at 52 and looking towards when I am 65 yrs with an even less activity life, diabetic, less hectic managerial job and being a totally NON CAR BUYING PERSON, my 4 room is fully paid up by my dad, I don't change phone,my beloved PC, bicycle (18 yrs classic) ..etc every year, thus I can make that
half million last me quite a long while. In fact if I challenge you to live on an amount I live on for more then 6 yrs due to placing the wrong trust on people(& exg/fs) with money matters ( you can see why I have trust issue with people after that ) You will jump off the building or kill those people to get your money back for making you live that way. You read recently about how two Poly boys were in the news for being able to live on $500 per month. I lived on even lower then that for 6 yrs over ending in 2009 and rebuilding my money bank.
So if I were to make a better argument for or against the motion, I would not even use 'me' as the yard stick, I would use someone lower in wage earning, throw in realistic problems or activities I think she/he/family would do...etc thus with then I feel I can convey something more logical and sound thus not give out bad vibes that I am covering something or as some would say a political stooge.
You do that with weird comparison, you are then seen as being political to whoever's cause... for or against. I am not for or against Roy or our PM... but I am for a clearly picture of what is being done with our citizen's money, a clearer road map of how it's being invested, by who, what are the expectation of those companies using our funds, their accountability, who signs off on them, vet their risk factor ...etc. All that kind of questions financial institution have to be prepare to put out.
I am certain if you are an investor who is about to invest a few hundred thousands or million(s) with a financial institution (say the half million figure you throw up), there will be tons of questions you will ask before, during and after you hand them your money. And for as long as you have your money with them you are going to hound them for progress report it their performance to say the least.
Let's NOT even talk about taking the money out lah. Let just say, I simply want proper accountability and financial details to chew on about my money and how hard or not it is working.
What is considered "too small for you to matter" might not be for someone else. So sensitivity goes a long way to win the hearts and mind of folks to your cause.
