An email from a very regular reader:
Saw your post on CPF balance. Aiyoh, people so sour grape to say you how lian. But nevermind, I support you to be how lian, k?
SMOL's comments soooo hilarious. Really made my day! ROFL.
Honestly, OA savings aside, I think growing the SA is quite achievable.
In Jan 2008, I only had $17,084 in my SA, accumulated through the course of my active employment. Was contemplating to do the transfer earlier but decided to keep the money in OA for investments.
I first transferred some funds from OA to SA in 2009 and by end 2009, I had $52,893 in SA after earning $1670 interest for the year. In 2010 I didn’t do anything cos I resigned from XXX and took 6 months sabbatical to finish my Masters.
No income, so nothing much to transfer. :P
Then I resumed the transfer in 2011 to 2013 till I met the prevailing CPF ceiling. My CPF-SA now stands at $182,213.73 after earning $7,474 of interest last year.
This year there will be more contributions accumulated since the ceiling has been raised to $6K. Happy!
So, don't say cannot be done.
Never try, why say cannot?
1. AK is showing off his CPF numbers.
2. 2016 changes to the CPF and SRS.