I thought that only my CPF-SA numbers garnered a following but it seems that my CPF-OA numbers have a following too. So, I agreed to share more of my CPF numbers here. Latest CPF numbers, OA, SA and MA:
If we add all the three accounts together, the total amount of savings I have in the CPF is:
At the ripe old age of 45 too.
I know this is impressive to many people and although it is achievable, please don't think that this should be a benchmark for you to latch on to. Remember, we have to be realistic.
Not many of us who want to buy our first property can leave our CPF-OA money untouched. Indeed, regular readers know my story. My CPF-OA savings was not always untouched.
How did AK amass so much money in his CPF-OA?
For most of us, what is more achievable and more rewarding is to top up our CPF-SA and CPF-MA. These accounts pay higher interest and they will help with our retirement and hospitalisation funding. Be pragmatic. These accounts should have priority.
1. How to upsize $100K to $225K?
2. How to get free medical insurance with CPF-MA?
Interest earned in the CPF-MA will flow to the CPF-OA if both the CPF-SA and CPF-MA have hit their ceilings. That interest will help the CPF-OA grow. I know because this is what happens to me.
Later on in life, to grow our CPF-OA savings faster, if we have spare cash, we can always think about doing voluntary refunds to our CPF-OA. Of course, when we are older, we could also sell our property and downsize.
How to stop accrued interest we owe from growing in CPF-OA?
The CPF can go a long way to providing us with a financially more secure future.
We have to help the CPF to help ourselves and the earlier we do it, the better.
Now, I wonder how much my lump sum withdrawal from CPF at age 55 could be?
What? The government allow a withdrawal of $5,000 only? Not for me.
1. AK showing off SA numbers again?
2. AK showing off CPF-OA and MA (2016).
"They all say CPF is XXX... How like that?"