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#1

Posted 14 February 2012 - 10:13 AM

Mightymito
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At the current interest rates and property prices what would you do with your ordinary CPF. Seems wise to transfer to special acc.



#2

Posted 14 February 2012 - 10:27 AM

Good-Carbuyer

At the current interest rates and property prices what would you do with your ordinary CPF. Seems wise to transfer to special acc.

Can donate away to bail out the Cash-tight Proven Failure Board? tongue.gif

#3

Posted 14 February 2012 - 10:36 AM

Relacklabrudder
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CPF = Coffin Production Fund

#4

Posted 14 February 2012 - 10:38 AM

SimonTan
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Either way...you must live a long life in order to enjoy the monies inside CPF.


#5

Posted 14 February 2012 - 10:39 AM

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Either way...you must live a long life in order to enjoy the monies inside CPF.



nope, still have the minimum sum barrier need to clear. currently at 131k, increasing every yr. if u 30 by time u suppose withdraw at 67, then it may reach like 250k min sum

#6

Posted 14 February 2012 - 10:41 AM

Hiphiphoray
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CPF is never meant for ownself.

Its for your children. laugh.gif

Actually our children will be beri rich.

Our house will be thiers. CPF also goes to them. Whatever $ we leave behind also thiers. ohmy.gif

#7

Posted 14 February 2012 - 10:46 AM

Alpha78
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CPF is never meant for ownself.

Its for your children. laugh.gif

Actually our children will be beri rich.

Our house will be thiers. CPF also goes to them. Whatever $ we leave behind also thiers. ohmy.gif


Actually in other countries, it's common for people to trade in their property's remaining lease for cashback. Insurance companies underwrite such policies, and the property goes to the insurer upon the insured's death. So the person can cash out and still have a place to stay, and have their property pay for their living expenses.

But here, insurance companies are kiasu, don't see many insurers offering such schemes.

We are destined to die poor. bigcry.gif
Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for in order to get to the job you need to pay for the clothes and the car, and the house you leave vacant all day so you can afford to live in it.

#8

Posted 14 February 2012 - 10:53 AM

Relacklabrudder
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CPF is never meant for ownself.

Its for your children. laugh.gif

Actually our children will be beri rich.

Our house will be thiers. CPF also goes to them. Whatever $ we leave behind also thiers. ohmy.gif



u think so? by the time time comes to our children, minimum sum will be 500k, withdraw age 70, hdb 3 rm flat cost 600k, 5rm flat cost 1mil. uni education will be 80k.

#9

Posted 14 February 2012 - 10:56 AM

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My children can have our CPF. but housing will be mine, probably do a reverse mortgage.
RIP Johnny.

#10

Posted 14 February 2012 - 11:07 AM

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u think so? by the time time comes to our children, minimum sum will be 500k, withdraw age 70, hdb 3 rm flat cost 600k, 5rm flat cost 1mil. uni education will be 80k.

When we set it for our children, means they can have it on the day we pass on. So minimum sum or withdrawal age don't matter.
RIP Johnny.

#11

Posted 14 February 2012 - 11:09 AM

Csnewbie
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CPF = Coffin Production Fund


CPF---Care People Failed
Relocated
 

#12

Posted 14 February 2012 - 11:09 AM

Toapayohkid
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At the current interest rates and property prices what would you do with your ordinary CPF. Seems wise to transfer to special acc.


cannot take out even for housing. but "safe" bet unless cpf collapse
The AT-AT, the best SUV for Hoth!

#13

Posted 14 February 2012 - 11:10 AM

Toapayohkid
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My children can have our CPF. but housing will be mine, probably do a reverse mortgage.


yah, reverse mortgage not mature down here. either not attractive enough or not enough info on it.
The AT-AT, the best SUV for Hoth!

#14

Posted 14 February 2012 - 11:33 AM

Jrage
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At the current interest rates and property prices what would you do with your ordinary CPF. Seems wise to transfer to special acc.



Nope.. not wise.. if you put into special acc, it will be "trapped", you cannot withdrawal for property or things things anymore..

My advise is to put your $$ is high dividend stable blue chips..e.g. SPH - 6-7% dividend annually , good times or bad times.. beats the additional 1% that cpf is giving in special account.

#15

Posted 14 February 2012 - 11:37 AM

Relacklabrudder
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When we set it for our children, means they can have it on the day we pass on. So minimum sum or withdrawal age don't matter.



They can have it but it will also be in their cpf account , they cannot have it as cash :-). So as ling as they have it as cpf they will be subjected to cpf rules like min sum for withdrawal.

#16

Posted 14 February 2012 - 11:40 AM

Jasonjst
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CPF is never meant for ownself.

Its for your children. laugh.gif

Actually our children will be beri rich.

Our house will be thiers. CPF also goes to them. Whatever $ we leave behind also thiers. ohmy.gif


No children how ? Go to goverment ?

#17

Posted 14 February 2012 - 11:50 AM

Hiphiphoray
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i have no idea at all.........i guess its either to charity or govt lor.

Cannot bring over to the other side right ???? laugh.gif

No children how ? Go to goverment ?



#18

Posted 14 February 2012 - 11:56 AM

Hiphiphoray
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Hrrrr....i thot after 55 yrs old, dont have to return the CPF monies back right ?

Can get outright CASH.

Either way..........house + CPF + Bank Savings CASH from daddy + mommy for 1 kid is hell a lot of money sia!!!!!!!!! crazy.gif

Still got life insurance payout lei!!!!!!!!!! dizzy.gif


They can have it but it will also be in their cpf account , they cannot have it as cash :-). So as ling as they have it as cpf they will be subjected to cpf rules like min sum for withdrawal.



#19

Posted 14 February 2012 - 12:39 PM

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Hrrrr....i thot after 55 yrs old, dont have to return the CPF monies back right ?

Can get outright CASH.

Either way..........house + CPF + Bank Savings CASH from daddy + mommy for 1 kid is hell a lot of money sia!!!!!!!!! crazy.gif

Still got life insurance payout lei!!!!!!!!!! dizzy.gif


now, one has to satisfy the min sum, only the excess can b withdrawn in cash. with the min sum at 123k, in essence most wil not get to see this cash payout during their 55 yo bd. knife.gif
Paul Scholes. He scores goals.

#20

Posted 14 February 2012 - 12:45 PM

Maroon5
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Nope.. not wise.. if you put into special acc, it will be "trapped", you cannot withdrawal for property or things things anymore..

My advise is to put your $$ is high dividend stable blue chips..e.g. SPH - 6-7% dividend annually , good times or bad times.. beats the additional 1% that cpf is giving in special account.


agree w the blue chip strategy. note that for 2nd ppty investment, one needs to satisfy the prevailing min sum cash component first so not tat straightforward.
Paul Scholes. He scores goals.


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