Asked by Anonymous
Asked on 14 Nov 2018
I’m facing this dilemma now. My HDB is on bank loan and paid monthly using my CPF. I’m living comfortable with my salary now. If I use my wage to pay my mortgage instead of CPF I can’t save enough for investments. I will be fully dependent on my insurance and CPF for retirement. Now thinking if I should put up with the inconvenience of have a stranger in my house, to get some extra cash for my mortgage. Also considering moving in with parents to rent out the whole unit after MOP.
If you're not comfortable with having a stranger at home, then i'd suggest not to do that. Home is supposed to be warm and cozy, a place to rest up and recover. If having a stranger in your house is going to affect you, then it might not be worth it.
19 Nov 2018
As u mentioned, it really depends if u are comfortable living with another person for the time being. If u have to rent, probably look for certain tenants only. Eg students only/ working professionals/non smokers only. (Also depending on your gender) You do not want your tenant to make worse of your house.
Also u mentioned, u will be dependent on insurance for retirement. I do not think that is a good idea, your money is not working most efficiently. You can consider topping up your CPF special account. On top of guaranteed 4%, u will also get tax relief.
Do add me on facebook if u would like to discuss further.