tag:blogger.com,1999:blog-7944902213075756335.post5880220553835433072..comments2024-03-29T19:12:08.223+08:00Comments on A Singaporean Stocks Investor (ASSI): How did AK amass so much money in his CPF-OA?AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger41125tag:blogger.com,1999:blog-7944902213075756335.post-62566059436729053972021-05-30T08:45:40.097+08:002021-05-30T08:45:40.097+08:00Hi Tonny,
I have talked to myself: HERE. ;)Hi Tonny,<br /><br />I have talked to myself: <a href="https://singaporeanstocksinvestor.blogspot.com/2021/05/use-cpf-savings-for-homes-and.html" rel="nofollow">HERE</a>. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-62626629848641612892021-05-28T15:24:59.550+08:002021-05-28T15:24:59.550+08:00Hi AK, I have been reading your blog for many year...Hi AK, I have been reading your blog for many years and are still occasionally browsing through cos the info is timeless. I have a qn when I read through this blog. My 2nd BTO flat will be ready in 2 years time and I am thinking whether to use the CPF monies (from the sale of my first BTO flat) or use cash (currently invested in the 3 banks, bought during COVID crisis all below their NAV)? Can Tonnyhttps://www.blogger.com/profile/04858456216512369189noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-17965183781636554652020-01-28T08:58:48.195+08:002020-01-28T08:58:48.195+08:00Oops. Missing link #3.
See also:
3. My investment...Oops. Missing link #3.<br /><br />See also:<br />3. <a href="http://singaporeanstocksinvestor.blogspot.com/2017/08/investment-philosophy-and-property.html" rel="nofollow">My investment philosophy and property investment.</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-35433732602177101872020-01-28T08:55:47.680+08:002020-01-28T08:55:47.680+08:00Hi ChingKang,
To solve the mystery, I will direct...Hi ChingKang,<br /><br />To solve the mystery, I will direct you to a few blogs. ;)<br /><br />See:<br />1. <a href="http://singaporeanstocksinvestor.blogspot.com/2018/07/investing-or-speculating-in-real-estate.html" rel="nofollow">Investing or speculating in real estate?</a><br />and<br />2. <a href="javascript:void(0);" rel="nofollow">Use CPF savings or cash to pay for our home?</a><br />4. <a AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-91358765029204377132020-01-27T23:53:50.991+08:002020-01-27T23:53:50.991+08:00This comment has been removed by the author.Chrishttps://www.blogger.com/profile/17950763587901473849noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-92052205775835006522018-08-09T13:16:14.564+08:002018-08-09T13:16:14.564+08:00Hi Ben,
I am not against property purchase per se...Hi Ben,<br /><br />I am not against property purchase per se.<br /><br />I am against property purchase at any price.<br /><br />To be sure, property purchase can be a good thing if the price is right. :)<br /><br />See:<br /><a href="http://singaporeanstocksinvestor.blogspot.com/2014/05/buying-property-affordability-and-value.html" rel="nofollow">Affordability and value for money.</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-68670658138277912302018-08-09T12:35:36.425+08:002018-08-09T12:35:36.425+08:00Hi,
I believe that it's the matter of egg and...Hi,<br /><br />I believe that it's the matter of egg and chicken for the simple peasant like most of us. It's unlikely that one will have the best of the two worlds. For those who own the property, it's likely that one will have to use the CPF or cash to service the housing loan. It will be much more easier for one who is single and has no financial commitment to save more in CPF as WTKhttps://www.blogger.com/profile/11459028978258841179noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-30860244634849322032018-08-08T11:38:13.456+08:002018-08-08T11:38:13.456+08:00Yi Sarah says...
Wow. How did you do it ?
So muc...Yi Sarah says... <br />Wow. How did you do it ? <br />So much on OA. <br />It is hard to catch up as I have used up OA to buy my flat.<br /><br />AK says...<br />There is a very simple explanation. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-71546536924097103492018-08-08T11:34:47.230+08:002018-08-08T11:34:47.230+08:00Investminds said...
To grow the OA no that you hav...Investminds said...<br />To grow the OA no that you have, we will need to invest in a property. We need to sell it to earn a profit and money goes back to OA. I will need to wait for another GFC.<br /><br />AK said...<br />Nope. You don't have to invest in properties to grow your OA.<br />Remember, what I have in my OA is mostly a refund of the money I used to buy my first home (plus accrued AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-2785481077133364622018-08-08T10:25:44.236+08:002018-08-08T10:25:44.236+08:00Hi disr,
Nope, VC to the 3 accounts does not get ...Hi disr,<br /><br />Nope, VC to the 3 accounts does not get tax relief.<br /><br />Only VC to the MA gets relief (for the recipient).<br /><br />MC gets tax relief. <br /><br />So, you might have mixed up VC and MC?<br /><br />You want to read this:<br /><a href="http://singaporeanstocksinvestor.blogspot.com/2017/04/know-how-to-grow-our-cpf-savings.html" rel="nofollow">How to grow our CPF?</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-25058040526551727692018-08-05T16:25:13.123+08:002018-08-05T16:25:13.123+08:00Hi AK,
I noticed you mentioned this in your reply...Hi AK,<br /><br />I noticed you mentioned this in your reply to LOL<br /><br />"OK, let me put it this way, if you want to beef up your CPF savings for retirement and enjoy tax relief at the same time, do a MS top-up (up to $7,000 per year) to your CPF-SA. You can do this as long as you have not hit the MS which is $161,000 this year.<br /><br />If you have already hit the MS, you cannot do disrhttps://www.blogger.com/profile/10037980553086913084noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-85117553453032356922017-12-07T13:25:09.693+08:002017-12-07T13:25:09.693+08:00Reader says...
What else can I do with the faster ...Reader says...<br />What else can I do with the faster growing OA to grow my overall CPF funds? <br /><br />AK says...<br />Let the government work harder to help fund our retirement.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-69899372609702240802017-05-21T10:42:54.853+08:002017-05-21T10:42:54.853+08:00Reader:
Considering to lock $XXXK in my CPF OA to ...Reader:<br />Considering to lock $XXXK in my CPF OA to enjoy a minimum 2.5% interest from sale of my home. I can use my OA money for share/reit to get a higher return when the opportunity arises. In 3 years time, at 55 I can withdraw all if I need too. That way money is controlled. No itchy finger to anyhow spend. What u think?<br /><br />AK:<br />How do you suppose I have so much money in my AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-46638580631426734952017-01-31T11:03:39.117+08:002017-01-31T11:03:39.117+08:00From FB:
Reader:
hi ak, when you graduated, you t...From FB:<br /><br />Reader:<br />hi ak, when you graduated, you transferred all your OA to SA. How did you manage to pay off your housing loan purely with cash and nothing from OA? would be good to hear from you as i want to use the same strategy 🙂 you did not use any OA to purchase house right?<br /><br />AK:<br />Answer in this blog post 😉<br />Very difficult for most to buy 1st property AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-81993155222546248442015-09-16T08:59:02.395+08:002015-09-16T08:59:02.395+08:00Hi Jovan,
I am quite happy if I am able to right ...Hi Jovan,<br /><br />I am quite happy if I am able to right the misconceptions out there about the CPF. What people do after that is up to them.<br /><br />However, I must say that if people were to treat the CPF as a very long term AAA rated sovereign bond that pays a rather attractive coupon, they would want to top up if they could afford to. It is a no brainer. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-62574777605229961082015-09-16T00:24:10.461+08:002015-09-16T00:24:10.461+08:00For now it's an uphill task but I must say tha...For now it's an uphill task but I must say that you have done hell of a good job trying to convince people on the good side of cpf. As usual, keep up the good work. With your blog getting all the popularity I am sure that more people will be convinced or at the very least think harder n deeper into this. :)<br /><br />I always can't apprehend y people can buy many other products that can&jovanhttps://www.blogger.com/profile/02806999727610477019noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-42448120967396312892015-09-15T22:54:42.249+08:002015-09-15T22:54:42.249+08:00Hi Jovan,
From one stupid person to another, well...Hi Jovan,<br /><br />From one stupid person to another, well done! ;)<br /><br />I know there is plenty of unhappiness with the CPF system but I dare say that much of this unhappiness stems from ignorance. Those of us who understand how the system works should try to help people with misconceptions. We can only hope that once they understand, they won't be unhappy anymore.<br /><br />However,AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-54351060078389718592015-09-15T21:49:44.487+08:002015-09-15T21:49:44.487+08:00Hi AK,
thank you once again for trying so hard to...Hi AK,<br /><br />thank you once again for trying so hard to convince many people on our CPF system. Like you I had also been trying very hard to convince my friends on transfer OA to SA early and let the system work hard for us instead of us working hard for the system. The journey is not easy and so far I only manage to convince 5 person including myself.<br /><br />Indeed, a lot of people out jovanhttps://www.blogger.com/profile/02806999727610477019noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-21677128932395177322015-09-10T00:29:49.749+08:002015-09-10T00:29:49.749+08:00On FB, I shared a blog post titled:
"The Dir...On FB, I shared a blog post titled: <br />"The Dirty CPF-HDB Scheme To Trick Singaporeans?"<br />http://singaporeanstocksinvestor.blogspot.sg/2014/04/the-dirty-cpf-hdb-scheme-to-trick.html<br /><br />In that blog post, I said that our CPF money <br />"is primarily meant for retirement use. We are allowed to use it for some other purposes including housing in the meantime but pleaseAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-90282507912286678862015-02-16T11:42:59.631+08:002015-02-16T11:42:59.631+08:00Thanks AK for clarifying, I always had the impress...Thanks AK for clarifying, I always had the impression that MS top-up and VC are one and the same. I learned something new again from your blog.Nickhttps://www.blogger.com/profile/17126013903326828525noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-86327739375550422622015-02-15T11:43:58.985+08:002015-02-15T11:43:58.985+08:00Hi Ah John,
Yes, the MS top up is not considered ...Hi Ah John,<br /><br />Yes, the MS top up is not considered as part of the annual contribution limit of $31,450. Make sure you use the correct forms for doing MS Top Up and VC. If in doubt, call the CPF Board to check again. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-14778051993316424352015-02-15T10:35:00.714+08:002015-02-15T10:35:00.714+08:00So MS Top Up is separated with VC, and no yearly $...So MS Top Up is separated with VC, and no yearly $31450 limit? I just learned another rule, so complicate. AhJohnhttps://www.blogger.com/profile/07927395374670213105noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-53057109462142745812015-02-15T09:19:20.538+08:002015-02-15T09:19:20.538+08:00Hi LOL,
Hmmm... I looked at my reply to Darryl bu...Hi LOL,<br /><br />Hmmm... I looked at my reply to Darryl but it seems to me that there is nothing left unsaid.<br /><br />OK, let me put it this way, if you want to beef up your CPF savings for retirement and enjoy tax relief at the same time, do a MS top-up (up to $7,000 per year) to your CPF-SA. You can do this as long as you have not hit the MS which is $161,000 this year.<br /><br />If you AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-50880472356742883972015-02-15T01:04:01.275+08:002015-02-15T01:04:01.275+08:00Hi AK,
Regarding your reply to Darryl, can you ki...Hi AK,<br /><br />Regarding your reply to Darryl, can you kindly explain it a little more in detail? As a young Singaporean, I became interested to make VC to my cpf but it is quite confusing grasp the cpf system in detail for me to take advantage of it. Can you kindly help? :) <br /><br />Thank you!LOLhttps://www.blogger.com/profile/00527762392530686749noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-30384853172064460392015-02-06T16:59:37.976+08:002015-02-06T16:59:37.976+08:00Hi Darryl,
We can do MS Top Ups to our SA and we ...Hi Darryl,<br /><br />We can do MS Top Ups to our SA and we can also do VC to our CPF accounts.<br /><br />We cannot do MS Top Ups to our SA if we have hit the MS. However, we can still do VC to our CPF accounts as long as our mandatory contributions do not exceed the annual conribution cap which is $31,450 this year. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.com