16 Sep 2020
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I'm assuming that you're young since you got your BTO flat 3 years ago and cleared OA. (my apologies if I got it wrong!)
A lot of us are apprehensive when it comes to topping up our CPF accounts, especially when we're young and it seems like we're locking up our money.
I think this depends on your investment appetite, and whether you feel you would get a higher rate of return via other forms of investment.
Personally, I think this is a great way to build up your retirement savings. It's not easy to find something as stable and gives such good returns (imo!).
Imagine you're 30 and topped up $10,000 in your SA. This will grow into $26,658.36 if compounded at 4%!
So with that, I would treat this top-up as the bond component of my retirement portfolio. :)
You can consider topping up your SA with excess cash after paying off liabilities (housing, education, car loans) for tax relief and wealth accumulation.
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