How did you manage to deposit $130000? Did you do it in one lump sum or over time. If so over how much a span of time and how often do you top up? - Seedly
Seedly logo
Seedly logo
 

PFF Panel 1

CPF

Seedly PFF 2019

James Lolisentinel Fong

Asked on 02 Mar 2019

How did you manage to deposit $130000? Did you do it in one lump sum or over time. If so over how much a span of time and how often do you top up?

0 comments

4 answers

Answer Now

Answers (4)

Sort By

MT2020
MT2020
Level 7. Grand Master
Answered on 09 Mar 2020

If you mean investing, i would prefer to invest over a period of time as i do not want to time the market. Also it allows me to buy the dips if there is any.

0
ūüĎć
0
Thank You!
Can you clarify
I wonder if
This is so helpful ūüĎć
What about
Post
Davin
Davin
Level 7. Grand Master
Answered on 09 Mar 2020

I have done it over a period of 8 years. I only top up the SA when my income tax hit 11.5% bracket hence take slightly longer time to hit this milestone.

0
ūüĎć
0
Thank You!
Can you clarify
I wonder if
This is so helpful ūüĎć
What about
Post
Frankie Rappaport
Frankie Rappaport
Top Contributor

Top Contributor (Sep)

Level 10. Unicorn
Answered on 08 Mar 2020

Over time.

takes years, need patience.

time horizon surely dependent on Your cash flow in (profession) and out (expenses, life style)

0
ūüĎć
0
Thank You!
Can you clarify
I wonder if
This is so helpful ūüĎć
What about
Post
Lyndon Wong
Lyndon Wong, Dad at Dad Pte. Ltd.
Level 3. Wonderkid
Answered on 01 Nov 2019

I started off "late" in the CPF game. However late it is though, there is still sufficient time for CPF savings accumulation.

After working for about 5 years, I started off with $43,644.90 in my SA with no clue nor application of any CPF savings strategy.

Made my first OA to SA transfer of $34,044.23 in Aug 2019.

Started doing a regular transfer of $2,200 to SA each month (BHS for MA reached). RSTU cash top-up of $100 each month.

As of 1 Nov 2019, it stands at $82,222.09. I will reach $130,000 in 20 months from now. Nothing is impossible.

0
ūüĎć
0
Thank You!
Can you clarify
I wonder if
This is so helpful ūüĎć
What about
Post