21 Dec 2019
I am still young and just started working, have not bought a house or anything yet. Can I move the money back from SA to OA if I need to use it?
Been doing transfer and top up since 29 . by 34 i am done . dont need to worry about the ever increasing minimum sums anymore since the interest from sa will more than cover 5k increase yearly .
in 20 yrs time , with interest and further work contributions , it will probably compound to about 800k .
by 65 , i can get more than 3k estimated from cpf life ( inflation adjusted)
why is there a need to think so much about liquidity and what not ? just get it done to the maximum and over with it . once its maxed out , your retirement is at least 70% secured ( 3 meals a day and a few simple holidays )
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This is indeed one of the biggest 'hacks' and 'recommendations in today's working adult world to contribute and top up your CPF SA for higher interest rates. TL;DR: It’s all about 2.5% vs 4.0%
Essentially this act of topping up the SA account is about your retirement funds and allowing it to compound at a faster rate of 4% to 5% p.a risk-free rate.
By doing this action:
WARNING: You cannot reverse this action and take out the funds!
Thus by going by the above illustration, the people who should do that are people who:
Hope this helps :)
You can read more about this topic in a blog post I wrote some time back also: https://blog.seedly.sg/should-you-transfer-cpf-...
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Hello! My wife and I are able to sustain our loans by cash, so we decided to leave a maximum of $20k...
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