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CPF

Every Singaporean's contribution till 55 and beyond

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CPF

Hi anon, Hariz has pretty much done the maths. Will just want to give one more input: You might want to just top up exactly $2970.4 via RSTU to bring yourself out of the 7% tax bracket. 3.5% is quite ok for most people. It's only when the tax bracket goes to 7% and 11.5% that it stings.

CPF

Retirement

Tay WenHao
Tay WenHao
Level 6. Master
Answered 1d ago
I feel that it depends a lot on your personality, the stage of life you are at, your liabilities and also the opportunity costs. If you have spare cash lying around or in the bank with 0.05% of NO USE (excluding emergency funds) then yes. Topup SA with CASH. Or If you have already gotten your HDB and wont be using your OA for anything else like education etc, then yes. Topup SA with OA (You can still keep 20,000 in OA just incase you need it for your child education or upgrade housing. Cus first 20k for OA got bonus 1%. That being said, you still can transfer everything to SA and get extra 1% on 60,000 in SA)

Property

CPF

Loans

It is up to your personal investing methodology and beliefs. If you believe that cash on hand can generate you more ROI than the rate CPF is giving, then you might want to consider paying using CPF.

Property

CPF

Kang Jianbin
Kang Jianbin
Level 3. Wonderkid
Answered 2d ago
It depends on your own financial plan...

CPF

Investments

Stocks Discussion

Insurance

Retirement

Savings

Y
Yrjm
Level 4. Prodigy
Answered 3w ago
Short answer - no one (at least for advice) Advice are not instructions. Investors do not have an obligation to follow the advice given. Advisors only provide advice, ultimately the decision is in the hands of the investors. It's a give and take process, sometimes the context provided is not detailed enough to the advisor hence, 'wrong' or poor advice is received. When we seek advice, it's not always gonna be the 'correct' or good advice, there are times when it doesn't go the right way. Where we can take, we must also give. Not an advisor myself, though it may seem like I'm on the side of advisors, just my two cents' worth. However, I do agree that if it's a wrong fact as stated in your question, then the party who provided the fact should be called out and answer for it.

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.

Investments

Stocks Discussion

Savings

Retirement

Career

Bank Account

Lifestyle

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Family

CPF

Hi anon, I don't mean to sound harsh (this is the internet and you can't convey feelings easily through typed responses). But....You don't 'play' stocks. This is not something for playing. It's a serious thing and you can wipe out completely if you don't know what you are doing. You didn't mention an emergency fund, which should be your next step if it is not in place already. 12 months of your expenses before you start your investment journey. While that's being build up, start by gaining knowledge first. There are many forms of investments besides stocks, so take time to understand all of them, how they work, their pros and their cons. Open a CDP and a trading account to prepare yourself to start. Knowledge is king. When you start, make sure you start slow and don't rush in. Dollar Cost Averaging can be good for starters, and you can also build a warchest waiting for opportunities. Be aware of the transactional costs of investing.

Savings

Investments

Career

CPF

Retirement

SW
Shaun Wq Lim
Level 6. Master
Answered on 26 Apr 2019
1. Save $12,000 by Dec 2019, emergency fund.

CPF

Retirement

Yes that is correct. Any top ups to SA will be specifically put aside for your CPF Life. But any monies above FRS that weren't top ups can be withdrawn.

CPF

Retirement

CPF SA povides 4% interest and can be used for investment and retirement. Yes, you can move OA monies to SA to bump up 2.5% return to 4% return. At age 55, the Retirement Account (RA) is created. And you'll be asked to set aside the Full Retirement Sum (176k in 2019, 181k in 2020). Money from SA will first be pulled into RA, and if insufficient, OA money will be next. CPF SA shielding is just to make sure more OA money is used to create RA instead of SA money. Example: You have 200k in OA and 200k in SA and you're turning 55 today. Typically, after RA is created and FRS is transferred, you'll be left with 200k OA, 24k SA, and 176k RA. With shielding (investing 160k in SA and then transferring back after RA is created) it'll be 64k OA, 160k SA, and 176k RA. As you can see more money is earning a higher return as compared to without shielding.
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