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Anonymous

11 Oct 2020

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My mum is 49yo this year and is a kitchen helper earning around 1.8k per month before cpf deduction. OA - 11K, SA - 13K, MA - 12K Currently paying 711 for house with 15 years left (110k). What to do?

Similarly my dad,51 yo is a taxi driver as this are his CPF values: OA: 0 (emptied to pay for house) SA: 43k MA: 59k. Brings home around 3k per month after rental, petrol deduction with 12-15hr shift...

Should we convert the hdb loan to bank loan considering the low interest rate? We have 110k balance left.

Any strategy to maximise my mum's cpf usage since she wont hit minimum sum anytime soon and we are not rich enough to do top up?

Any other strategy to adopt?

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Coffee chat

3d ago

Hi

maybe you can repayment of the debts using cash to speed up the debts to cleared fully.

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Li Elizabeth

02 Apr 2024

I hope you did not convert, now bank rates are like 4%

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Jiayee

11 Oct 2020

Salaryman at some company

Disclaimer: I'm not a financial advisor. Just a normal human being. So I may not know best.

Mortgag...

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I am getting my house in 2 years time. Do you recommend if I throw my OA into SA and pay off my monthly mortgage using the OA I got every month from my pay? Should I leave some OA in case I lose my job?

PAYING HDB BTO WITH CPF, WITHOUT HOUSING LOAN Has anyone used CPF to pay for BTO without taking a loan? Is it monthly deduction or lumpsum full flat price deduction from CPF OA?

To pay housing loan in cash to save CPF OA? Or to pay with CPF OA and do voluntary contribution later? Since they will spread to MA and SA with more interest?

I’m a fresh poly grad waiting for university this year, currently freelancing and will continue to for as long as I’m earning about 1.5K per month, current savings of 3K. Any financial advice for me?

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