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Anonymous

28 May 2019

∙

should a 20 year old with some income do CPF top ups?

I earn about 3-4k a month and am starting University in August, full scholarship + allowance + continue to work in Uni

I am asking as I am attracted by the high interest rate + can use CPF for property

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Vincent Tan Wen Bin

28 May 2019

Assistant Vice President at Thinkers Alliance

There is no wrong or right answer to your question. You are right that the interest rate is good for the special account but I think you can optimize way better if you are intending to keep the funds in your ordinary account instead.

When I was your age, I invested my money in the stock market and the reason being is to aim for a higher return and time is in my favor. I will be able to hold long term and in a broadbase investment strategy, you should be able to get more than the 2.5%or 3.5% that you are getting from your OA. And also the liquidity that comes with it.

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