For a young adult in mid 20s, is it better to use spare cash of $7K to TOP up CPF SA account or do SRS contribution? - Seedly
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Anonymous

Asked 3w ago

For a young adult in mid 20s, is it better to use spare cash of $7K to TOP up CPF SA account or do SRS contribution?

After setting aside emergency funds, I pay <$500 for income tax. Please share rationale. Thank you very much!

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    If you do not do investment yourself and you know you never will, CPF SA.

    SRS you must use the $$$ in account to invest else same as bank interest rate.

    SRS you need to know (in case you dont know)

    -you can only withdraw at 62 else 5% penalty charge

    • 50% of withdrawal will be taxed (meaning can only withdraw $40k per year)

    • you must withdraw everything within 10years

    You got other relief? NS, living with parent....?

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    Question Poster

    3w ago

    Thank u for this perspective, i guess i will go for CPF SA for now and continue learning about investments!
    Question Poster

    3w ago

    Living with parents, but they still working
    Thank You!
    Can you clarify
    I wonder if
    This is so helpful 👍
    What about
    Post