tag:blogger.com,1999:blog-7944902213075756335.post403861114828430285..comments2024-03-29T10:22:24.187+08:00Comments on A Singaporean Stocks Investor (ASSI): How to upsize $100K to $225K in 20 years? Oppa AK style! (UPDATED)AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger85125tag:blogger.com,1999:blog-7944902213075756335.post-59121542882776692922018-08-17T18:11:01.404+08:002018-08-17T18:11:01.404+08:00Reader says...
Very happy to read ur blog past 2-3...Reader says...<br />Very happy to read ur blog past 2-3 years. <br /><br />Hence nw my cpf SA is gg to hit FRS by next yr and MA also max by next year too - on track to hit $1mil by age 55<br /><br />32 years old this year so gonna compound at least 23 more years, honestly the numbers doesnt matter alr after 20yrs of holding becos the compounding magic just makes it become a numbers game after AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-29699777125551535662016-12-11T17:28:27.518+08:002016-12-11T17:28:27.518+08:00"Every quarter, he transfers a few thousand d..."Every quarter, he transfers a few thousand dollars - Ordinary Account savings and cash - to his Special Account. By age 45, Mr Wong aims to have enough money in his Special Account to grow to $1 million in his Retirement Account at age 65." <br />Source: <br />ST, 14 Aug 2016.<br /><br />See:<br /><a href="http://singaporeanstocksinvestor.blogspot.sg/2016/08/AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-916096681564453072016-12-11T12:31:28.098+08:002016-12-11T12:31:28.098+08:00Hi Marcus,
I decided to post my reply to your com...Hi Marcus,<br /><br />I decided to post my reply to your comment as a blog. :)<br /><br />Please see it here:<br /><a href="http://singaporeanstocksinvestor.blogspot.sg/2016/12/thinking-of-topping-up-cpf-sa-with-130k.html" rel="nofollow">Thinking of topping up CPF-SA with $130K.</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-71306987133178200542016-12-11T08:10:40.678+08:002016-12-11T08:10:40.678+08:00Hi AK,
Recently I have gotten 300k from insurance...Hi AK,<br /><br />Recently I have gotten 300k from insurances due to a health condition and I am thinking of maxing out my SA with voluntary cash contribution of $130k. <br /><br />A little background about myself. I am 35 this year and have an outstanding HDB loan of $120k. After reading your blog, I come to the realisation that 4% interest rate compounding is just an amazing tool.<br /><br />I Mirage1981https://www.blogger.com/profile/06329941005951849220noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-578947922910015282016-08-14T22:35:28.269+08:002016-08-14T22:35:28.269+08:00"Mr Wong has about $70,000 in his CPF, of whi..."Mr Wong has about $70,000 in his CPF, of which $40,000 is in his Special Account, $25,000 is in Medisave and about $5,000 is in his Ordinary Account. Every quarter, he transfers a few thousand dollars - Ordinary Account savings and cash - to his Special Account. By age 45, Mr Wong aims to have enough money in his Special Account to grow to $1 million in his Retirement Account at age 65.&AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-9962715438564109262015-03-12T08:44:15.047+08:002015-03-12T08:44:15.047+08:00From my FB wall:
Assi AK:
Dao Jun, I transferred...From my FB wall:<br /><br />Assi AK:<br /><br />Dao Jun, I transferred all the funds in my OA to SA in the first 4 years or so of my working life. The magic of compounding is impressive but to be meaningful, I decided to give it a bigger base to start with. It also means that the government worked harder than me to build up my retirement savings very early on in my life. <br /><br />Doing what I AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-81356456998354510932014-08-17T13:27:52.701+08:002014-08-17T13:27:52.701+08:00Hi AK,
Thanks for the advice.
In addition, can...Hi AK, <br /><br />Thanks for the advice. <br /><br />In addition, can i also confirm with you that the voluntarily cash top up into CPF SA has a maximum allowance of only $7000 ? <br /><br />Been searching through the cpf website but it only mentions bout the tax relief rather than stating the maximum cash top up. <br /><br />Thanks in advance. <br /><br />Much appreciated. :Dwhhttps://www.blogger.com/profile/10482956524681319033noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-26968553193140148832014-08-16T22:16:07.830+08:002014-08-16T22:16:07.830+08:00Hi wh,
Money in the CPF-SA is to help prepare us ...Hi wh,<br /><br />Money in the CPF-SA is to help prepare us for retirement. It will provide us with basic retirement funding. The money cannot be used for the purchase of housing. We could use the money in the CPF-OA for that.<br /><br />Go to my blog's right sidebar, at the end, you will find a box that has a few tags and one of them is "CPF". Click on it and you will see all my AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-39687300849877516992014-08-16T20:47:50.669+08:002014-08-16T20:47:50.669+08:00Hi AK,
Im a recent graduate and am trying to pla...Hi AK, <br /><br />Im a recent graduate and am trying to plan out my finance to help me into my retirement. I am just wondering if cash from the SA can be used for say buying hdb or something ? Still figuring out how CPF actually works since it's rather confusing. <br /><br />TIA !whhttps://www.blogger.com/profile/10482956524681319033noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-79430217869464318602014-08-09T11:32:22.330+08:002014-08-09T11:32:22.330+08:00Hi Don,
Definitely, you can. You will be helping ...Hi Don,<br /><br />Definitely, you can. You will be helping your CPF-SA to deliver higher returns, compounded, in the coming years. :)<br /><br />However, before transferring money from OA to SA, be very sure you do not have any need for the money in the OA. The transfer is irreversible.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-87226599716731233872014-08-07T21:56:34.039+08:002014-08-07T21:56:34.039+08:00Hi betta man,
If we have already met the MS, I be...Hi betta man,<br /><br />If we have already met the MS, I believe that no transfer is possible anymore.<br /><br />If we have yet to meet the MS and if we should still be actively employed and contributing to the CPF, we could voluntarily transfer the OA and SA contributions to the RA then.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-251919904552482492014-08-07T18:47:50.328+08:002014-08-07T18:47:50.328+08:00If a person leave his money in the cpf after setin...If a person leave his money in the cpf after seting aside the min sum, he can potentially withdraw the 4% earned interest every year and this can perform like an annuity from age 55. This is provided that he xfer all his OA to SA after 55. I hope i am right in the analysis.Betta manhttps://www.blogger.com/profile/02597553932202096004noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-9367882849929422542014-08-07T13:32:00.031+08:002014-08-07T13:32:00.031+08:00Hi Kyran,
This is what I meant when I said young ...Hi Kyran,<br /><br />This is what I meant when I said young working adults should consider moving OA money to their SA and if this means deferring marriage plans for a few years, so be it. It is all about thinking ahead. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-36614228784665224782014-08-07T12:16:39.991+08:002014-08-07T12:16:39.991+08:00Yes I am kind of glad I did the same thing to tran...Yes I am kind of glad I did the same thing to transfer from SA to OA during my early years of working life. Now that I am preparing for marriage, cash is king so I probably won't have the liberty to do voluntary cash contribution. Kyran Tanhttps://www.blogger.com/profile/02470625551768643110noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-26995092646111343772014-08-07T09:31:06.175+08:002014-08-07T09:31:06.175+08:00Hi Kyran,
We Chinese people have a saying,
人无远虑,...Hi Kyran,<br /><br />We Chinese people have a saying,<br /><br />人无远虑,必有近忧.<br /><br />So, thinking far is a good thing, imo. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-468146072771700032014-08-07T08:21:03.798+08:002014-08-07T08:21:03.798+08:00Oops sorry I didn't scroll up to see your earl...Oops sorry I didn't scroll up to see your earlier reply. Thanks I think u have answered my question! Thanks AK!Kyran Tanhttps://www.blogger.com/profile/02470625551768643110noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-78039576825834279872014-08-07T08:19:36.741+08:002014-08-07T08:19:36.741+08:00Haha AK, sorry to trigger your brain cells so earl...Haha AK, sorry to trigger your brain cells so early in the morning. In the bus travelling to work. Best time for social media-ing! <br />Ok may I assume another scenario (since min sum is unlikely to stay fixed at $155k due to inflation etc). Should the min sum when I am 55 be $300k (hopefully not!), does it mean that I will get payout closer to $2.4k instead of $1.2k? Am hoping to get some cluesKyran Tanhttps://www.blogger.com/profile/02470625551768643110noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-13979167440162558842014-08-07T08:06:54.152+08:002014-08-07T08:06:54.152+08:00Hi Kyran,
OK, too early in the morning. I think y...Hi Kyran,<br /><br />OK, too early in the morning. I think you might mean something else. <br /><br />If the minimum sum required of us is $155K and we have $300K in the CPF-SA, only $155K will go into the RA. And that will eventually go into the CPF Life annuity and we will get about $1,200 a month in annuity income.<br /><br />What is in excess of the minimum sum, we can choose to withdraw fromAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-7290074469240515022014-08-07T08:02:55.524+08:002014-08-07T08:02:55.524+08:00Hi Kyran,
Very roughly, if you have twice of $155...Hi Kyran,<br /><br />Very roughly, if you have twice of $155K in your minimum sum, the CPF Life annuity payout per month should probably be twice of $1,200. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-8662233212591702752014-08-07T07:59:31.042+08:002014-08-07T07:59:31.042+08:00Hi betta man,
Withdrawal can be done once a year....Hi betta man,<br /><br />Withdrawal can be done once a year. I know this because my parents are in the same shoes.<br /><br />However, they chose to leave their money with the CPF because they cannot get 2.5% to 4% interest anywhere else. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-45350075707513225312014-08-07T07:22:09.852+08:002014-08-07T07:22:09.852+08:00Hi AK, not sure if u could help shed some light on...Hi AK, not sure if u could help shed some light on this. Based on my own situation, I should have $300k in my SA by 55. Assuming I stop working then, how does that translate in cpf life payout eventually? Does that mean I still get only $1200 every mth or much more since $1200 is based on $155k min sum? Thanks!Kyran Tanhttps://www.blogger.com/profile/02470625551768643110noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-17321158994113469202014-08-07T06:59:02.685+08:002014-08-07T06:59:02.685+08:00Hi AK,
If a person has already reached his min su...Hi AK,<br /><br />If a person has already reached his min sum at age 55, does it mean that he can withdraw his CPF contribution any time he wants if he continues to work beyond 55 ?Betta manhttps://www.blogger.com/profile/02597553932202096004noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-6456959711355736572014-08-07T00:19:27.377+08:002014-08-07T00:19:27.377+08:00Hi pf,
Hmmm... I don't know what constitutes ...Hi pf,<br /><br />Hmmm... I don't know what constitutes "enough" tax savings but I will take any savings I can get. ;pAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-40151031229025122492014-08-06T23:07:07.573+08:002014-08-06T23:07:07.573+08:00I did a table. I might hit min sum in 7 yrs time. ...I did a table. I might hit min sum in 7 yrs time. And the tax relief from this and SRS does not make enough diff in tax savings for me. Sigh.pfhttps://www.blogger.com/profile/07201135543092422698noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-1637024436011078262014-08-06T22:46:30.977+08:002014-08-06T22:46:30.977+08:00Hi Lib Lib,
A happy problem. ;)
If you want inco...Hi Lib Lib,<br /><br />A happy problem. ;)<br /><br />If you want income tax relief, you could consider starting and contributing to an SRS account then. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.com