Advertisement
6
Discussion (6)
Learn how to style your text
Reply
Save
Teo See Hwa
10 Dec 2018
MArketing Associate at Propnex
Nobody know which is better only Time know.
I put 20% deposit $108,000 in 2006 and 4 years later property appreciate by 1 million.
If I use your question what will be your answer.
Reply
Save
Hariz Arthur Maloy
05 Dec 2018
Independent Financial Advisor at Promiseland Independent
Definitely. In fact you're locking up that 20k for 32 years and is irreversible.
A balanced portfol...
Read 1 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 Posts
Advertisement
Why don't you topup your own CPF special account instead. Yes, u might not earn the extra 1% but u are able to receive tax relief. Eg, your taxable income is $40k, for every dollar u earn above 40k is taxed at 7%. Therefore, if u topped up $1000 into your special account, u get $1000 tax relief, u saved 7% of $1000 = $70 tax money. Effectively have gotten 7% return on your money. If u are earning more than $80k, u will be in the 11.5% tax bracket.
Topping up your son's CPF although is able to earn the extra 1%, u will not be able to use the funds for yourself.
There are definitely plenty of investments that can potentially produce better returns, but it comes with higher risk as well. CPF provides superior risk adjusted return.
It really depends what purpose u intend your 20k for. You cannot use CPF monies except for its allowed purposes only. Not to mention it is your son's CPF.