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Talking Point >>> Is your CPF enough for retirement?

Wt_know

By Wt_know,
in Investment & Financial Matters

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Dp26

Dp26

5th Gear
4 hours ago, Chongster said:

Me mid 40s my SA and medisave at limit and I top up my wife to limit also.  If still not enough means the scheme is failure.  I don’t think I can do much more to game it

SA got limit one meh? 
 

Or do you mean limit due to hitting FRS and can’t do top ups? 

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Chongster

Chongster

6th Gear
(edited)
On 9/12/2020 at 8:30 PM, Dp26 said:

SA got limit one meh? 
 

Or do you mean limit due to hitting FRS and can’t do top ups? 

yes, top up to max.  excess OA used to top up my wife's account.  small balance in OA left; I dont use CPF for mortgage repayment. i guess i can repay the withdrawal for 10% home deposit if i want to up the OA, but that can only earn 2.5%.

i heard some people top up kids' account, but that is cash i think, and that doesnt sound right either.  Parents should worry about kid's education, not retirement. 

Any other good way to squeeze more out of CPF?  

Edited by Chongster
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Kangadrool

Kangadrool

Supersonic
On 9/2/2020 at 8:46 PM, Wt_know said:

62, 65, 67, 70, 90?

if laoma can work at 95  ... who need retirement ... huat ah!

54AB756B-C35A-4E95-AAE6-80044C3E2FA9.jpeg

KNN, 40YO already so difficult to find a proper job, still wanna talk SMLJ. Disconnected...

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Angcheek

Angcheek

Hypersonic
On 9/12/2020 at 8:30 PM, Dp26 said:

SA got limit one meh? 
 

Or do you mean limit due to hitting FRS and can’t do top ups? 

SA can up to ERS max i think at 55. 

Before 55 , cant tranfer more than FRS. 

 

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Angcheek

Angcheek

Hypersonic
1 hour ago, Kangadrool said:

KNN, 40YO already so difficult to find a proper job, still wanna talk SMLJ. Disconnected...

Haha who elected that ah San in ... ah san sounded like a ah neh FT 😄

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Weez911

Weez911

Supersonic
26 minutes ago, Mustank said:

I don’t believe 100% in some pap things 

 But the cpf I believe 💪

The CPF thing is a by-product of the British masters, not pap. [scholar]

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Sdf4786k

Sdf4786k

Twincharged
On 9/9/2020 at 8:23 AM, SuPerBoRed said:

CPF withdrawal is far away for me... but technically... if you are prepared to renounce ur citizenship and migrate to a less ''stressful'' country... you can take all your CPF monies out isn't it?

taxable boh ? if oneshot take out everything.

 

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Dp26

Dp26

5th Gear
(edited)
14 hours ago, Chongster said:

yes, top up to max.  excess OA used to top up my wife's account.  small balance in OA left; I dont use CPF for mortgage repayment. i guess i can repay the withdrawal for 10% home deposit if i want to up the OA, but that can only earn 2.5%.

i heard some people top up kids' account, but that is cash i think, and that doesnt sound right either.  Parents should worry about kid's education, not retirement. 

Any other good way to squeeze more out of CPF?  

If I already max out my SA, and now use my SA to purchase an investment tool that’s “relatively safe” and my SA drops to a lesser amount. 
 

then I transfer my OA(assuming you only want to transfer OA and not cash) to SA to previous FRS amount. (If cash then limit is much lower) 
 

6 months later redeem my SA investment, where would my money go? 

Edited by Dp26
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Kopites

Kopites

Supersonic
40 minutes ago, Dp26 said:

If I already max out my SA, and now use my SA to purchase an investment tool that’s “relatively safe” and my SA drops to a lesser amount. 
 

then I transfer my OA(assuming you only want to transfer OA and not cash) to SA to previous FRS amount. (If cash then limit is much lower) 
 

6 months later redeem my SA investment, where would my money go? 

Likely back to cpf account. You go try out and share here.

Many will be interested as well.

 

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Kopites

Kopites

Supersonic

Over the weekend top up my wifey SA. 😄

I told her retirement both of us sum up got 5k...to shake leg.

She said.."5k belong to her personal usage. ..I go find my retirement fund".😭

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Throttle2

Throttle2

Supersonic

 

8 minutes ago, Kopites said:

Over the weekend top up my wifey SA. 😄

I told her retirement both of us sum up got 5k...to shake leg.

She said.."5k belong to her personal usage. ..I go find my retirement fund".😭

$5k for two people at 55 til 85 enough meh?

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Dp26

Dp26

5th Gear
1 hour ago, Kopites said:

Likely back to cpf account. You go try out and share here.

Many will be interested as well.

 

U know the answer what... 

 

I haven’t max out my SA so I can’t give you an answer even if I try... 

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