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Anonymous
Understand that all cash value withdrawn from SRS is taxable, albeit only 50% of them when we reach retirement age. And that is also higher than the initial amount that I've put in.
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Endowus
15 Dec 2020
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If your money grows from 100k-500k that's a happy problem. The tax amount is also by half. You can also drawdown on a 10 year basis. with some tax relief, you probably dont need to pay any tax.
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I always find it amusing when people get lost with huge numbers. Let's calculate your actual tax pay...
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Hi Anon,
You can choose to withdraw your SRS monies across 10 years at retirement age, and only half the amount withdrawn will be taxable.
We can grow our SRS to even 1 million with consistent top-ups and still be better than paying tax upfront and growing our wealth through cash investments.
You can read more here: https://endowus.com/insights/solving-the-srs-to...