Let me put it this way to Singaporeans.
You are born.
You serve ns and are put under a 10 years reservist and ippt cycle that can stretch into your 40s while you have to juggle family and work commitments at the same time.
After ns you come out to work and fall in love,married and start up a family.
Now the nightmare and maths truly begin.
A wedding cost a lot so most Singaporeans married in their late 20s, mid 30s or even later.
Now we come to the house.
Upon successfully balloting for the house one need to wait at least 3 years for it or you can buy from open market or private developers where price will be even much higher.
Once you get your keys your entire cpf oa will be depleted totally and the rest of the mortage balance will be paid by your monthly cpf every month for a maximum of up to over a decade or 25 years max.
During this time every month of your cpf will not be able to save and accumulate cpf interests because you need to use it to settle house loan.
So 25 years finally finish and your house is fully paid up but by then you will be 55 or into your 60s already.
You want to rest and retire but you can't because your cpf oa account is empty and cpf minimum sum of 161k is set in place to prevent you from cashing out your cpf in full to use to finance your retirement.
So in your 50s or 60s you still need to work until you die or at least for another 10 to 20 years in order to build up your cpf oa account.
By the time you can really rest you will be in your 70s or 80s already.
Most would have met their maker by that age already. Lol How to look forward to retirement bliss?
Also the health could be failing or no one is willing to employ the elderly Singaporeans and what are they going to survive on?
In the end their cpf medisave accounts got wipe out and they either rent their flats out to sustain themselves or sell back their flats and lease to downgrade in order to survive in their dying years.
*This is basically the life story of a common Singaporean.*
And don't forget in the middle of all these one still need to raise up kids and take care of sickly ageing parents and in laws too.
*If anyone can still say Singaporeans are living a blessed life then I clap for you.*