AMA 1M65 - Seedly
 

AMA 1M65

Held on 7th Nov 2018, Monday

79 
Questions answered
  • Victor Seah
  • Darren Ng
  • Alvin Chai
  • Nicolas Chan

(AMA Ended) I reached $1 Million in CPF savings by 45 years old. Ask me anything!

NOTE: This AMA has ended! It was held on 7th November 2018! Simply search for all tags "AMA 1M65". It was a fun one. Thanks!

Hi Seedly Community!

My name is Loo Cheng Chuan, but most people know me as 1M65 (S$1 Million By 65 years old). I am an ordinary Singaporean with an extraordinary CPF investment strategy that could help many Singaporean couples become millionaires at retirement. 

In 2018, my wife and I crossed S$1M in our CPF savings at 45 years old, proving many skeptics wrong. I advocate a contrarian-type investment strategy to reap lucrative returns by investing heavily in equity markets during financial crisis which has been featured in Straits Times, BT and many other online media.

Working in the corporate world for about two decades, my 1M65 strategy and financial assets have given me an early retirement at 43 years of age to pursue an entrepreneurial passion with my wife. I was educated locally and abroad. Apart from that, I have three lovely teenagers that are also deeply grounded with good financial values and it is my firm belief that wealth building starts young.

I am here to answer your questions in the following areas:

  1. How you can save 1M just by using your CPF?
  2. Why CPF is a good strategy as a long term 'bond' savings?
  3. General Wealth Management or investment mindset?
  4. Any forms of personal finances tips or rules?
  5. Stock Investing during financial crisis and why I do it?
  6. Should you invest in Unit Trust or REITs?
  7. Family financial planning and starting a family in Singapore?
  8. What does Retirement at 43 feel like?

NOTE: The host may choose at his/her preference to not answer particular questions. The AMA is moderated by Kenneth from Seedly, so let’s keep the questions friendly and open!

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CPF

Investments

AMA 1M65

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered on 07 Nov 2018
Good question. It is always easier to see looking hindsight in life. 1. Have the guts to search and discover your passion. Don't be hold back by norms, culture, your parent's expectations, money or girl friend. You will know it when you find it. If you havent discover your passion, go and try out different things in life and keep searching and dont settle for anything else. 2. Learn and personalise the power of compounding. Realise that it is the 8th wonder of the world. internalise in your heart that this is what make you rich and you need to be patient and wise to make it happen. 3. Your insurance agent is not the one that will make your rich, they are not good advisors when it comes to invesments, they are good for insurance. Be careful of Investment Linked Policies. 4.

AMA 1M65

Investments

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered on 03 Nov 2018
First, find out about 1M65 and how the strategy works. I think everyone should try to build up a strong financial safety net first with their CPF SA / MA account. Once you do that, then your retirement is kind of secured. You might then want to save your money to wait for a investment opportunity. It is common sense that how one makes money in stock market: Buy Low , Sell High. But few have the financial guts to do it Probably your financial guts would be stronger to stomach invetment in market crashes if you have 1M65 mapped out. Traditional stock market experts encourage a dollar averaging investment method. I find it more rewarding to simply wait for market to crash badly and I would jump in and invest. Note: You might not invest well if your financial guts is not trained to do it - i.e. if you dont have a strong financail safety net of a 1M65.

AMA 1M65

Retirement

Investments

CPF

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered on 07 Nov 2018
I am not sure if the CPF is the best in the world (because I am not familiar with the rest of the other plans), but I believe it is the best we can find in Singapore. The only thing I think it can do better is to make the scheme less complicated and let more people appreciate how good the scheme. Many Singaporeans are not having a good opinion of CPF because they do not understand all the CPF schemes available. Once you understand the schemes, you will find that it will not only enable you to be ready for retirement, but also possibly to become rich. That my personal opinion.

AMA 1M65

CPF

Policies

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Updated on 07 Jun 2019
In short, the key is there is no such thing as 0% risk in any investment. Hence, let’s talk about probability. The probability of this happening in Singapore is very low, compared to the alternative out there. I would and have taken my chances with the CPF and it has proven to be very lucrative.

AMA 1M65

Investments

Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 8. Wizard
Answered on 05 Nov 2018
Personally I'm in the same boat as you, buying into a couple of reits / trusts at their peaks and now watching them sink in the red. Hoping that eventually they'll rise back up somewhat and I can redeploy them elsewhere. That being said, if you decide to hold on based on your long term view of the counter, do ensure that you have the holding power and you don't need to drawdown on this portfolio for near future expenses. But if the management is making a mess of the reit, exit and redeploy elsewhere. Hope this helps

FSM One

DBS

DBS Vickers Securities

AMA 1M65

Investments

Chuan Lee
Chuan Lee
Level 2. Rookie
Updated on 12 Sep 2019
Both are about the same for purchasing. However, there is no 'cash upfront' for DBS Vickers, hence costing 25++ to sell your holdings. I'm trying out FSMone for selling since they are able to sell at $10 from those online reviews.

Resale HDB

Property

CPF

AMA 1M65

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered on 07 Nov 2018
It is a good idea because cash carries a lower opportunity cost compared to the CPF OA. With the CPF SA, you actually get up to 6% returns where the HDB Housing Loan is currently at 2.6% interest rate. Hence, I would suggest you to use cash every month to pay for the HDB housing loan.

CPF

Investments

AMA 1M65

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered on 07 Nov 2018
Great question. My earnings from my CPFIS is not a substantial portion of my 1M45 CPF portfolio. So most of my CPF numbers are largely a result of nice compounding power of the high risk free interest of the CPF SA/MA and some from OA. My equities investments are largely in cash Outside my CPF portfolio. After living for nearly half a decade and looking at history.... I don’t think there will not be a decade that we don’t face any economic downturn. So investment opportunities will always be there for those who dare...

CPF

AMA 1M65

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered on 07 Nov 2018
Leave money inside and let it compound! I will leave to funds to snowball and grow all the way beyond 65, 70 - and I will withdraw it only when I need it. The interest rates are very high and CPF is very stable. I will keep the funds inside for as long as I can to let it grow exponentially.

AMA 1M65

Property

Teo See Hwa
Teo See Hwa, MArketing Associate at Propnex
Level 5. Genius
Answered on 20 Mar 2019
Use Cash if you do not intend to buy the next BTO. Use CPF to save cash so that you can use it to buy the next BTO or private.
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