CPF - Seedly
Seedly logo
 

CPF

Every Singaporean's contribution till 55 and beyond

Questions answered

0 Followers

Recent Activity

Unanswered

Trending

Investments

Savings

CPF

Stocks Discussion

Retirement

Lifestyle

Why Are Many Singaporeans Still Poor – Despite Working Hard And Saving Diligently?

You either make money work for you, or you will work for money your whole life

5843

0

👍
13
Post

Retirement

Investments

Savings

CPF

Robo-Advisors

ETF

Lifestyle

SeedlySOS

Hi everyone. I'm 33 years old this year, I would wish to retire around 50 years old with $1.5 million, is it too ambitious? My monthly income is close to $5K and I can save half of my take home.?
Me same situation as you. But i choose to DIY. - US stock (1 lump sum) + SG stock (dividend) (DCA) I treat US stock as fix deposit. I invest 80 - 85% of my salary To retire , 1) u need to calculate ur monthly expense. 2) Assume 4% (conservative) from dividend I calculate for my case when reach 50yr old will have sufficient dividend to live comfortably. (Without selling US stock) U may also need to buy some insurance. As u dont want to sell ur investment when something happen.
0
👍
0

Stocks Discussion

Investments

CPF

S&P 500 Index

STI ETF

THE US STOCK MARKET JUST CRASHED! ARE YOU READY TO PROFIT FROM IT?

Be Greedy when others are Fearful - Warren Buffet

426

0

👍
1
Post

CPF

CareShield Life Supplement by the 3 companies, any advise how or when should we consider them?
Hey there! My colleague has written a comprehensive article on the comparison of the CareShield Life supplements that are currently available. It might answer your queries on whether you should make a purchase. If you're looking to increase your coverage for your long-term care needs with a lower barrier of entry (reduced no. in inability of ADLs), this can be something for you to consider!
0
👍
0

Property

CPF

Savings

SeedlySOS

Loans

Are you able to repay your monthly mortgage loan with half CPF and half Cash?
Hi anonymous, With regard to taking an HDB housing loan, yes, you can! After choosing to wipe out your combined CPF-OA monies for the mortgage, some people might find themselves in a position where they don't have enough CPF contributed on a monthly basis to pay for their monthly mortgage using their CPF. If so, you can use cash to pay or top-up the difference . But more importantly, this probably (I'm making a guess because I don't know your financial details personally) means that the flat you picked is slightly out of your financial league. ! If you're going with a bank loan, the same thing applies. Yes, you can use your CPF-OA savings to pay your bank loan payment (just speak to your preferred bank to find out more). If there's any shortfall, you can make up for it in cash and pay it directly to your bank. To keep things clean though, I would just stick to one form of payment throughout. So either all cash or all CPF. This way you can better track and plan your finances!
Answer preview
0
👍
0

Savings

Retirement

SeedlySOS

Investments

CPF

My retiring parents have lump sum 60k, what capital guaranteed investment can they make?
Hi anon, You might want to look at short term endowments that will launch in limited tranches every few months. These are capital guaranteed if held to maturity. Such plans will typically lock the money in over 3 years but give a reasonable (considering the interest rate environment now) return of around 2% p.a. on the entire sum. They are single premium plans so that solves the issue of not wishing to pay yearly premiums. They can consider splitting up the amount into 3 tranches of $20K each and putting one batch a year. This way, you will always have a plan maturing every year, which (if you don't need the money) you can 'roll' again in whatever plan is available in future.
0
👍
1

HDB BTO

HDB Resale

CPF

SeedlySOS

What are the advantages or benefits of CPF Housing Refund if I'm never going to sell my HDB flat?
Hi anon, Basically, if you take a CPF Housing loan and sell your HDB flat, you'll have to return the principal amount plus any accrued interest to your ordinary account (assuming you sell it before 55 years old). But since you have no intentions of selling your flat, you won't need to return that borrowed amount back into your CPF OA. So there aren't any advantages or benefits in this case. The only thing I can think of is since you decided to use your CPF to pay for your flat, you probably are using cash to build your retirement fund (eg. through stocks, bonds, or a mix of other financial instruments) and can secure a return of more than 2.5% (prevailing interest rate of OA). The fund which you have built up is probably more liquid than if you had left your money in your CPF to grow. Because depending on which CPF scheme you are on (eg. CPF Life) the annuity you get will depend on how much you managed to accumulate in your RA (and your entire CPF account in general). Hope this helps!
0
👍
0

SeedlySOS

CPF

Retirement

Which careshield life supplement policy is best for a 30-year old individual who has no intention of marrying or having kids in the future?
Hello Anon, Thanks for the question. It is very timely as I just pushed out this article today. https://blog.seedly.sg/careshield-life-supplements-comparison From your profile, I would think that you would have more cash at hand and would not have any dependants in the future. But on the flip side, you might not have someone to take care of you in the unfortunate event that you suffer from a disability in the future. This is why the coverage is important as you would want enough monthly benefits to hire someone to take care of you in the event that the above happens. From my analysis comparison of the three CareShield Life supplement plans, Aviva is the most compelling option. Please read the article before you speak to a trusted financial advisor and compare the prices between the plans and make the decision. Hope that helps :)
0
👍
1

HDB BTO

CPF

Retirement

Savings

Investments

SeedlySOS

Are there any disadvantages or penalties for clearing HDB loan fast? (Eg 5yrs)?
There is no disadvantage and no penalties. The only disadvantage is that the amount you use to clear your HDB loan, for some people, can be used to invest elsewhere and earn a higher return than your loan's interest rate.
0
👍
0

Investments

CPF

CPF SA

What does it mean to treat CPF SA as bond component?
Yes I believe so. Essentially you can treat ur SA as part of your bond portion and invest the rest of your spare cash towards a larger proportion of equities, since your SA guarantees returns of 4% p.a. However, do take note that if you plan on liquidating your investments before 55yo (when you can draw out the excess from your CPF after setting aside the minimum sum), then it might be wise to instead not treat the SA as a bond component, since that sum of money inside can't be used for your shorter-term investment goal. This is to hedge yourself from downside risk for your shorter-term investment.
0
👍
0