Advertisement
Anonymous
PS - I have zero needs to use CPF-OA to pay for property as I'm all settled in that area.
4
Discussion (4)
Learn how to style your text
Cryotosensei
09 Jul 2023
Blogger at diaperfinancingfund.blogspot.com
Reply
Save
Hello there,
ā
Same thoughts here with Elijah, I think it will be wise to transfer all balances from Ordinary Account to Special Account. As your annual interest for funds in the ordinary account (OA) will increase from 2.5% to 4% in Special account.
ā
Will be better to use your own cash/savings to invest, leaving the retirement amount to compound with 4% per year.
ā
*I help individuals to achieve financial freedom, contact me at https://linktr.ee/LouisLuiyuze if you need help with your finances. Cheers!
Reply
Save
Elijah Lee
10 Jan 2022
Senior Financial Services Manager at Phillip Securities (Jurong East)
Hi anon,
ā
Personally I'd just transfer my OA to SA in this scenario. The faster you build your SA...
Read 2 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Products
4.7
658 Reviews
Endowus Cash Investments Portfolio
Equities, Bonds
INSTRUMENTS
0.25% to 0.60%
ANNUAL MANAGEMENT FEE
$1,000
MINIMUM INVESTMENT
N/A
EXPECTED ANNUAL RETURN
Web and Mobile App
PLATFORMS
Related Posts
Advertisement
If you wish to invest with EndowUs, it's better to use your OA money because the 4% interest rate for SA is already quite substantial. No point risking your SA money for potentially higher returns.