24 y/o this year. How much should I top up every year in order to hit the FRS based on my current amount in CPF? And also how many year? Thank you!?

Hi anon!
You can try using this Google Sheet I've done up when writing the article on hitting FRS. Been using it for myself and my parents too.
By default, the spreadsheet assumes a starting salary of $3.5k from age 25 and with a yearly increment of $110.
You'll need to adjust the following columns:

• Monthly Salary: Input your current salary in the respective year and project your future salary for a rough estimate

• HDB Loan Monthly Instalment: While you might not have a current loan, this column takes into consideration future loan payments.
  Adjust your own figures and see how much you might need to top up to hit FRS.
  Do note though that this is not 100% accurate, as CPF calculates the interest monthly but tabulates at the end of the year.

Hi anon,

It's almost quite impossible to answer your question directly because:

• Your salary will increase for sure (or you'll change jobs to achieve it)
• We don't know your bonuses/AWS figuers (which are also subject to CPF)
• SA allocation rates will increase
• MA will become full and interest/contributions will spill over. But the BHS keeps going up and we won't know the figure
• You'll get extra interest from OA as well

In view of this, a more pragmatic suggestion will be to contribute a small amount every month (e.g. $100/mth or match your work contributions) steadily and not be worried about how much to top up or when you will reach FRS. The longer you sustain the contributions, the more certain you'll be of hitting FRS.