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Penguin

3d ago

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My plan to reach FRS in my SA by 2027

Aiming to achieve this financial milestone in 2027, when I am 30. I currently have $97505.45 (Jun 25) in my SA. I am only assuming 4%, minus the bonus interest, as it just makes the caculations more complicated. The needed monthly deposit amount includes both tops up and employer contribitions. The FRS in 2027 is $228,200, I have overestimated this amound when using the calculator. The first step to financial freedom is knowing how to get there. Life might take over and you might get derailed but it's good to at least have a plan you can fall back on to guide you back onto the right path. Feel free to plan for your own unique situation using this calculator: https://www.thecalculatorsite.com/finance/calcu....

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Coffee chat

1h ago

Interesting that you still early. I will teach my kids that since I know it when late 40. But better than never especially when ppl told me should not put in cpf due to opportunities cost bah

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CH

1d ago

Nice. the compounding from 30 to 55 (assuming no policy risk) will be amazing.

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Kent Toh

Edited 2d ago

Consultant at Sprinklr

So it means even at max CPF contribution, you have to top up $1+K cash monthly. Why the rush to reac...

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47 years old, 2k in oa and 64k in sa, and 55k in ma, 25k to pay off hdb loan how much must I have in sa to reach the frs at age 55? and once u hit the frs at age 55. u still only can take out 5k?

When I have reached the BHS for my medisave account, where will the annual interest for that account go to? SA (assuming that it has not reached FRS) or OA?

I have hit my Medisave cap and my SA has 60k. How Long more must I continue to do a voluntary SA top up to reach the FRS and let it compound?is it true that if I contribute in January it is better?

Suppose that a person already reached the FRS in CPF SA account and will continue to work for next 20 yrs, what are other ways to grow the SA account other than employment contributions?

If my SA account has reached FRS balance (181k for this year). For tax relief next year, should I top up cash $7K to SA or OA by Dec 2020 or Jan 2021?

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