facebookI won't get any CPF contributions in my pay, how can I properly invest my first salary to equal or better the returns of CPF in order to pay for a house, have more passive income and retire in future? - Seedly

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Anonymous

08 Jul 2020

SeedlyAMA

I won't get any CPF contributions in my pay, how can I properly invest my first salary to equal or better the returns of CPF in order to pay for a house, have more passive income and retire in future?

My employment contract is not entered in Singapore as I work offshore. Hence my employer is not required to contribute to my CPF. Is it better to still make personal contributions to CPF or what should I do as my first investment?

AMA First Investment

Discussion (5)

What are your thoughts?

Jeff Yeo

Jeff Yeo

08 Jul 2020

amateur Social contributor at School of social sharing

I think you should contribute to CPF for two reasons

1) tax reductions

2) 2.5 % guaranteed interest in OA if you transfer to Sa thats 4 %

the money can be used for buying a house later too if you keep in OA. That's a better idea if you don't have immediate investment plans

Chin Guo Qiang

Chin Guo Qiang

19 Jan 2020

Assistant Manager, Technology (Sys Adm.) at Artemis Health Ventures (DX Imaging)

Save the same amount intended for CPF contributions to a fixed savings account, create your own "CPF contribution" first.

6 months down the road, the money will thank you :)

Pang Zhe Liang

Pang Zhe Liang

03 Jan 2020

Senior Financial Services Consultant at AIA Singapore Private Limited

Firstly, we need to have a complete understanding on our cashflow. Through this process, we will und...

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