facebookIs it a good move to save spare cash thru (1) first making voluntary housing refund to CPF OA, then (2) transferring the sum from OA to SA? - Seedly

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Anonymous

16 Jun 2021

Retirement

Is it a good move to save spare cash thru (1) first making voluntary housing refund to CPF OA, then (2) transferring the sum from OA to SA?

The house is fully-paid and owners do not have plan to upgrade. Comparatively SA's 4% pa looks attractive as FD interest is low.

Discussion (6)

What are your thoughts?

Housing refund is ok. Because you can get rid of accuring interest from your property. If you plan to sell your property in the future. However, if you going to live there for the rest of your life, no sense.

OA to SA very bad move. Because of 4% u locked your money till 55. And is irreversible process. Unless you are near 55?

View 1 replies

CryptoSensei

CryptoSensei

09 Jun 2021

Level 11·Blogger at diaperfinancingfund.blogspot.com

This is actually what I'm doing these days! But I'm motivated to do so because I haven't hit my FRS yet. When I hit this FRS, I will pivot and use this spare cash to invest in the market.

Good luck!

Musyaffaq

Musyaffaq

31 Dec 2020

Level 7·Business Studies Graduate at Ngee Ann Poly

I think need to know more information. For me, I would ensure emergency fund is enough to last a few...

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