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59 replies to this topic | 95 praises

#1

Posted 01 September 2018 - 08:04 PM

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just now i was in Toa Payoh central when i was waylaid by an AIA agent having their road show.

 

to cut to the chase, he told me that from middle of Sep 18, we cannot use the CPF SA to invest anymore ... is this true ?



#2

Posted 01 September 2018 - 08:16 PM

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can lah but you have to take a self assessment questionnaire to see if you know what you are doing [sweatdrop]

https://www.cpf.gov....ire/Declaration
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骑白马的不一定是王 ,可能是唐僧;带翅膀的也不一定是天使,有时候是鸟人。

#3

Posted 01 September 2018 - 08:38 PM

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can lah but you have to take a self assessment questionnaire to see if you know what you are doing [sweatdrop]

https://www.cpf.gov....ire/Declaration

For SA or OA or both?

#4

Posted 01 September 2018 - 08:48 PM

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SA
骑白马的不一定是王 ,可能是唐僧;带翅膀的也不一定是天使,有时候是鸟人。

#5

Posted 01 September 2018 - 09:55 PM

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SA pays 4%, risk-free and capital guarantee.

Personally, I rather leave it as it is.


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#6

Posted 01 September 2018 - 10:07 PM

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Good reminder.

 

[thumbsup]

SA pays 4%, risk-free and capital guarantee.

Personally, I rather leave it as it is.

 


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#7

Posted 02 September 2018 - 05:04 PM

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Finally my insurance agent got back to me... Seems like you can still invest your cpf....but you have to diy already as agents are nolonger allowed to do so.... As they are not going to be paid to do so anymore.

Edited by Ysc3, 02 September 2018 - 05:04 PM.


#8

Posted 02 September 2018 - 05:12 PM

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I don't touch my CPF.

OA is for housing. SA is just too good to touch.

 

U could use some of it to buy stocks/ETFs etc but i got burnt when i was young. And buying the STI ETF maybe not give u good enough returns vs risk free OA returns.


SA pays 4%, risk-free and capital guarantee.

Personally, I rather leave it as it is.

 

yeah.



#9

Posted 02 September 2018 - 08:17 PM

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Finally my insurance agent got back to me... Seems like you can still invest your cpf....but you have to diy already as agents are nolonger allowed to do so.... As they are not going to be paid to do so anymore.


Our government so nice, help stop gullible people from Being con by insurance agent
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#10

Posted 02 September 2018 - 08:20 PM

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Should have "banned" it long time ago. LOL. 



#11

Posted 02 September 2018 - 08:51 PM

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I don't touch my CPF.

OA is for housing. SA is just too good to touch.

 

U could use some of it to buy stocks/ETFs etc but i got burnt when i was young. And buying the STI ETF maybe not give u good enough returns vs risk free OA returns.


 

yeah.

 

wah ... my friend just told me ... he bought the 5rm BTO ... listed is 430k  ... but plus this fee that fee, also end up 470k !! but after deducting his CPF ... still got cash after selling his old flat.


Edited by Ysc3, 02 September 2018 - 08:52 PM.


#12

Posted 02 September 2018 - 08:56 PM

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wah ... my friend just told me ... he bought the 5rm BTO ... listed is 430k  ... but plus this fee that fee, also end up 470k !! but after deducting his CPF ... still got cash after selling his old flat.

 

stamp duty and lawyer fee.

U bought a flat before right. should know all these stuff. 

 

https://www.hdb.gov..../costs-and-fees



#13

Posted 02 September 2018 - 10:34 PM

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stamp duty and lawyer fee.

U bought a flat before right. should know all these stuff. 

 

https://www.hdb.gov..../costs-and-fees

i only paid about $4k cash when i bought my resale unit .... now i hear 40k ... i am like  :dizzy:

 

this is going to be a new experience for me ...


Edited by Ysc3, 02 September 2018 - 10:35 PM.


#14

Posted 02 September 2018 - 10:58 PM

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i only paid about $4k cash when i bought my resale unit .... now i hear 40k ... i am like :dizzy:

this is going to be a new experience for me ...

I think your friend exaggerated. He probably added in other stuff eg flooring or other options.
40k is 9+% of 430k.
Your legal fees plus stamp duty is no where close.

#15

Posted 02 September 2018 - 11:11 PM

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I think your friend exaggerated. He probably added in other stuff eg flooring or other options.
40k is 9+% of 430k.
Your legal fees plus stamp duty is no where close.


Agreed... 40k for legal fees and stamp duty on a 430k HDB sound 🤔🤔
Could it be the interest that need to pay back to his OA account for using the $ to pay for the housing.
Just my Guess.
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#16

Posted 03 September 2018 - 06:56 AM

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I think your friend exaggerated. He probably added in other stuff eg flooring or other options.
40k is 9+% of 430k.
Your legal fees plus stamp duty is no where close.

maybe  ... i also never ask him for breakdown .... he just told me this was total he will pay to HDB.

 

anyway, i am going to jot down my journey to my new flat (hopefully i get it for the Nov sales) and then put it up ... but this is going to be a long story ... hahhaaha



#17

Posted 03 September 2018 - 04:20 PM

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Don't be too happy to use CPF for housing. You need to pay yourself interest for using your own money. 


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You only live once - Enjoy it!

#18

Posted 03 September 2018 - 04:39 PM

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ok what ... ownself pay ownself ... [thumbsup]

the scary part is walk into negative teritory

sales proceed is less than cpf widthdrawal + accrued interest

then become ownself owe ownself ... [laugh]

 

Don't be too happy to use CPF for housing. You need to pay yourself interest for using your own money. 

 


Edited by Wt_know, 03 September 2018 - 04:45 PM.

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#19

Posted 03 September 2018 - 04:54 PM

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Double whammy actually. You lost the interest from CPF Board + accrued interest to be paid. 20 years down the road. That's a lot of money!  :TT_TT:

 

 

ok what ... ownself pay ownself ... [thumbsup]

the scary part is walk into negative teritory

sales proceed is less than cpf widthdrawal + accrued interest

then become ownself owe ownself ... [laugh]

 


You only live once - Enjoy it!

#20

Posted 08 September 2018 - 11:13 AM

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Don't be too happy to use CPF for housing. You need to pay yourself interest for using your own money.

Sometimes don't know CPF is your own money or not...
Dream car: Lamborghini Murcielago 6.2


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