At what age do you think we should do our CPF nomination. And how important is it when it comes to retirement planning? - Seedly
 

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AMA 1M65

Asked by Anonymous

Asked on 07 Nov 2018

At what age do you think we should do our CPF nomination. And how important is it when it comes to retirement planning?

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Good Day Every Day
Good Day Every Day
Level 7. Grand Master
Updated on 07 Jun 2019

We should do a CPF nomination now so that our money would go to only the intended people. We do not know what is going to happen in the future.

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Question Poster

30 Nov 2018

thanks for sharing :)
Yixiong Chang
Yixiong Chang
Level 7. Grand Master
Answered on 14 Nov 2018

This will be part of estate planning (how to distribute your assets), rather than retirement planning. Although consideration can be given to estate planning during retirement planning.

Nominate now if you have the time. And again after u are married. (If divorced, nominate again) Then again when your children are of adulthood.

The nomination becomes void upon marriage and remarriage. Nomination is NOT voided upon divorce, so one might want to renominate unless they which to give their ex-spouse the money.

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Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered on 07 Nov 2018

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