facebookMy 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? - Seedly

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Anonymous

11 Oct 2020

CPF

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?

Discussion (3)

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Hi

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

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

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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