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Please advise!
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Hariz Arthur Maloy
12 Jun 2020
Independent Financial Advisor at Promiseland Independent
Hi Chuan Leong, as a self employed individual myself, I would rather invest directly as long as I can take risk on my money.
If I'd like to recreate my own CPF, I'd do so using private instruments because then I have control over my money and the rules can't change.
Especially if you're young and CPF withdrawal age is 30 to 40 years away, I'd make sure I have full control.
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It would depends on your annual income.
Topping up CPF is a good way to reduce your taxes. If you t...
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If your income is not fixed, you may want to have a separate savings account to have liquidity and future expansion. Preferably separating business and personal accounts, thatβs what I do for myself.
Assuming you have the above, and also already paying for mortgage comfortably in cash. My thought process, can consider contributing slightly more to medisave above the mandatory amount to hit BHS faster, and let it overflow to SA. And invest your other cash surplus in cash investments.