CPF - Seedly
Seedly logo
 

CPF

Every Singaporean's contribution till 55 and beyond

604 
Questions answered

  • Recent Activity
  • Unanswered
  • Trending

CPF

S&P 500 Index

NYSE (New York Stock Exchange)

Don't be too pessimistic, the U.S. stock exchanges will still receive a bigger blow but only short term-wise, when the european markets will be poised to a more sustained drag down. Mr. U.S. market will recover anyway. Faites simple: just try VOO for ultralongterm, not so much thinking needed ...
👍 0

CPF

Yixiong Chang
Yixiong Chang
Level 7. Grand Master
Answered on 29 Nov 2018
You should nominate anytime now if u have concerns. You should at min nominate after u get married. And whenever there are significant changes to your life. If u do not nominate, your CPF monies will be distributed according to the Intestate Succession Act. On top of that, there will be a fee for the amount of monies managed by the public trustee. It is about $1.9k+ for first $250, (the rate is lower the higher amount). This process will also take much longer, many months. So if u want the monies to go to only your intended person/persons, hassle-free. Make the nomination. Note that your Will does not provide for CPF monies. You should make a Will too since u are concerned. This is a topic about legacy planning. Do add me on facebook if u would like to learn more.
👍 1

Entrepreneurship

Family

Lifestyle

Savings

CPF

Property

CH
CH
Level 6. Master
Answered 2w ago
You need one person to perform both jurisdictions?
👍 0

Personal Finance 101

Savings

Investments

CPF

Property

Savings Accounts

Credit Cards

One: Not just high yield savings account. Make a list of ways to increase your total income (i.e. active income, passive income), and at the same time reduce your total expenditure (i.e. fixed expenditure, variable expenditure). Here is a Guide: Understanding Your Personal Cash Flow For instance, find out how you can create a stream of passive income early in your life, and how to build it to cover your fixed expenditure. While doing so, keep your expenses as low as you can. Accordingly, this frees up more net cash flow for wealth accumulation. Two: Generally, we want to maintain about 3 to 6 months of total expenses as emergency funds (explanation in link above, under Part 4.1). However, we need to know your income ability and spending habit to have a layer of cushion that works for you. Let's say you work on a contract basis and job is unstable. How long will you need to find another job of similar or lower salary? Likewise for expenses, we need to know whether fixed expenditure is dominating your cashflow (some words for thoughts in Part 4.1 of the shared post). Three: Have a complete understanding of your existing insurance portfolio. Through this process, it allows us to understand the coverage that we have, any financial gap, as well as to find out whether we are overpaying for our insurance policies. Key Reasons Why: Why Every Client needs an Insurance Policy Summary How much insurance coverage should You have? As a general rule, 10% to 20% of your annual income on healthcare insurance and life insurance Basic Life Cover = 10 times your annual income Critical Illness Coverage = 5 times your annual income As usual, this is the general rule which may or may not make sense. Instead, work with an experienced consultant and plan ahead for your future. This ensures that in the next part when we are focus on building our wealth, we do not need to worry on our health. Four: Have a well-defined investment objective. When your emotions kick in, you have logic to help you overcome your emotions. Consider a step-up annuity to createa a cushion for your fixed expenditure. Besides, have a complete understanding on the risk that you are undertaking for your portfolio. Personally, I prefer to take calculated risk rather than unnecessary risk to reach my goals. More Details: Types of Investment Risk that You should know Therefore, you may wish to ensure that your asset allocation suits your risk appetite and investment objective and your positons are well-hedged. Five: True if and only if you invest in the right assets. Set a proper reminder in and conduct regular portfolio reviews to ensure that your investment objectives can be fulifled and your life goals are still the same. I share quality content on estate planning and financial planning here.
👍 2

Endowus

CPF

Investments

Robo-Advisors

Hi Zi Kai, Yes, we will purchase the unit trust based on current pricing. For CPF monies, it will be T+2 days after you confirm because of some agent bank constraints. We dont believe in timing the market, so anytime would be a good time to invest, as long as you have a long term horizon and a commitment to remain invested.
👍 1

Endowus

Stocks Discussion

ETF

Robo-Advisors

CPF

Supplementary Retirement Scheme (SRS)

Hi! As a Financial advisory firm, we consistently look out for other offerings and funds available to make sure that we are distributing and advising our clients to take up the best products for them. There will be some annoucements coming very soon, keep an eye for that!
👍 0

Family

CPF

Property

HDB BTO

Resale HDB

I’ve done this simulation many times with many clients. The savings are not significant enough for the effort and time. My suggestion is to buy resale if you have an urgency for a place to stay together. Just make sure to look out for key factors before doing so. Like price, years left of HDB etc.
👍 0

CPF

Retirement

Property

Hi anon, A few points to consider here: - Does he want to increase his CPF life payout? ERS is an option that he can consider as there is nothing better than guaranteed income for life. He has to be aware of the fact that the monies once put in RA, can't be withdrawn. - Does he want to withdraw in cash? If he wishes to withdraw in cash, the shielding strategy will still work if he has sufficient funds (anything in excess of $40K in SA), as I have done this for a client who was age 63 - If he withdraws in cash; what will he do with the money? Other than immediate liquidity (if he needs it), he should aim to achieve 2.5% returns with the funds that are not used. This can be achieved in various ways, for example, dividend paying stocks, dividend paying UTs, a private annuity to provide more guaranteed income, etc. The allocation should be skewed more towards safer instruments as it is important for him to have predictable and reliable income sources. - In the context of his entire financial portfolio, what other income producing assets does he have? If he has sufficient assets (even with inflation factored in), then there might not be a need for him to fully withdraw all $500K from OA as some money can always be left there to earn 2.5% risk free The permutations are plenty and it is really not possible to detail all of them here, but I have outlined some important things that he might want to think about. I highly recommend him to view this $500K in tandem with his overall strategy for retirement, including all his assets. A discussion with an independent financial advisor would provide him clarity on his options so that he can have an idea of what he can do.
👍 5

Property

Resale HDB

CPF

Leo Kwek
Leo Kwek
Level 4. Prodigy
Updated 2w ago
Hi, to be eligible for change in ownership, you have to qualify under 1 of these 7 eligibility conditions; 1) Divorce 2) Death 3) Marriage 4) Financial hardship 5) Wants to purchase another flat 6) Renounce of Singapore citizenship or SPR status 7) Medical reason Based on the limited details you have given, I presume you don't qualify under any of the conditions. My suggestion to you is to wait until she turns 35 and both of you can buy a resale flat under Joint Single Scheme. She can then use her CPF to pay for the monthly housing instalment. If you really can't wait and need to buy now, you may appeal to HDB when your sister turns 35. However, take note that it is based on a case by case basis and subject to approval. EVERYTHING YOU'LL NEED TO KNOW ABOUT YOUR HOME: https://privatehome.sg/
👍 1

CPF

CPF SA

CPF IS

Hi anon, You can invest your CPF, but should you lose your money, will you have other sources to turn to? CPF is your final safety net. There really isn't anything out there that gives 4% guaranteed, and so CPF SA is heavily restricted in what you can invest in. CPF OA may have more options, but you should really look at deploying cash first, especially if you are unsure whether you will need your CPF monies for a house later on. Sometimes, having something grow at 2.5% p.a. and not looking at it may be better than trying to beat 2.5% by taking on risk. This is especially true for people who may not have time or knowledge to seek out investments with potential returns higher than 2.5%
👍 3
Load more questions
Followers (892)