YANG YIN’S CASE PROVES THAT S’POREANS DO NOT KNOW HOW TO MANAGE THEIR MONEY WELL

Say what you want, look at it this way, Yang Yin has proven that it is right to assume that those above 55 years, or in the particular case above 80, cannot be trusted with their money. Just a bit of give and take, maybe 65 or 75 years would be just right. The second point that has been proven is that it is not only the men that cannot be trusted with their money. No need to go to Batam or Bintan. They can fly here from China or anywhere to take good care of our oldies’ … money.

Come to think of it, there is a lot of wisdom in the govt’s policies on the CPF. Give the govt a Tiger. Whoever came out with this idea deserves a good bonus. Keep them tight, don’t let the oldies have a free hand in their money. They would squander it, if not will be cheated of it. Some will get dementia through no fault of theirs and lose their money too.

It is action time. How to protect the rich oldies from losing their monies or being cheated of their monies? Should they be sent to a holiday camp for oldies so that they will not be in harm’s way? Should their money be put in a trust of sort and then a stipend be given to them ala the CPF formula? If there is a need to protect the oldies from losing their CPF monies which in most cases are less than a peanut, the multi million dollar assets and cash of these oldies demand more attention to keep the huge sums of money safe and sound, and to keep the poachers and looters away.

What do you think? Tiok boh?

Chua Chin Leng aka redbean

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