tag:blogger.com,1999:blog-7944902213075756335.post829085295217754233..comments2024-03-29T10:22:24.187+08:00Comments on A Singaporean Stocks Investor (ASSI): Tea with EY: Make CPF a part of your child's savings plan?AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger23125tag:blogger.com,1999:blog-7944902213075756335.post-82334777849970119882017-06-12T09:43:03.352+08:002017-06-12T09:43:03.352+08:00Reader:
Which account should we do VC for kid? OA...Reader: <br />Which account should we do VC for kid? OA,SA or MA?<br /><br />AK:<br />Depends on what you want to achieve. Each account has a different purpose.<br />If you are unsure, then, do a regular VC and the money gets apportioned by the CPF into all 3 accounts.<br />AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-42246057692699404872015-01-09T19:57:36.630+08:002015-01-09T19:57:36.630+08:00Hi Benjamin,
Thanks for sharing your findings wit...Hi Benjamin,<br /><br />Thanks for sharing your findings with us here. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-62978634857817903082015-01-09T19:24:24.037+08:002015-01-09T19:24:24.037+08:00Cpf says there is no restriction on what age we ca...Cpf says there is no restriction on what age we can contribute to our kid cpfBenjaminhttps://www.blogger.com/profile/03314111333345769535noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-3870466489542060632015-01-03T19:17:08.054+08:002015-01-03T19:17:08.054+08:00Hi Siew Mun,
There isn’t any tax deduction for vo...Hi Siew Mun,<br /><br />There isn’t any tax deduction for voluntary contribution to our children’s account. Sorry that I can’t find the link but I’ve read it on the CPF website.<br />EYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-49348909953911250492015-01-03T19:16:42.557+08:002015-01-03T19:16:42.557+08:00Hi EH,
Quality of life is relative, isn’t it? :) ...Hi EH,<br /><br />Quality of life is relative, isn’t it? :) $3 for recess and lunch is sufficient if they budget properly. Cut the drinks and they will have 2 relatively decent meals. There is fresh milk and snacks at home if they are hungry in the late afternoon. Dinner is home cooked food. BTW, I do lead by example. My budget for lunch is $5 and on most days, I spend within my budget. :)<br /><EYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-77764936435483074572015-01-03T19:15:13.157+08:002015-01-03T19:15:13.157+08:00Hi Benjamin,
CPF hasn’t specified the minimum age...Hi Benjamin,<br /><br />CPF hasn’t specified the minimum age in setting up a CPF account. To confirm, you may wish to call them to enquire. 1800-227-1188.<br />EYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-10407771642251451042015-01-03T19:14:30.488+08:002015-01-03T19:14:30.488+08:00Hi yeh,
There are ways to maximise the use/benefi...Hi yeh,<br /><br />There are ways to maximise the use/benefit of the CPF money. The key is knowing the regulations on what we can do with the savings in the OA/SA. Then it’s planning the work and working the plan. Here I’m talking about using the CPF for the various investments/education and maximising interest returns. <br /><br />The portion that you mentioned that is ‘untouchable’ is the EYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-43388197474399341552015-01-03T19:13:02.617+08:002015-01-03T19:13:02.617+08:00Hi Phyllis,
I’d asked CPF the same question. Was t...Hi Phyllis,<br />I’d asked CPF the same question. Was told there is no minimum age in starting a CPF account and making voluntary contributions. <br /><br />Just that if the child has not received his IC, he/she will not be given a Singpass account which would allow online access. <br />EYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-44578355322904430392015-01-03T19:12:34.189+08:002015-01-03T19:12:34.189+08:00Hi Rebel,
Sounds like a good plan! :)
Hi Rebel,<br /><br />Sounds like a good plan! :)<br />EYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-8346669235765841062015-01-03T17:12:45.168+08:002015-01-03T17:12:45.168+08:00Hi Siew Mun,
I do not see why not. However, I am ...Hi Siew Mun,<br /><br />I do not see why not. However, I am not able to find any such information online. So, it is best for you to enquire directly with the CPF Board. Let us know what they say if you do. Thanks. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-15421107506484299562015-01-03T13:09:38.774+08:002015-01-03T13:09:38.774+08:00One more question, do u get any Iras tax deduction...One more question, do u get any Iras tax deduction if u contribute to your child's CPF? I know u can get iras tax breaks when u contribute to wife, parents and siblingsSiew Munhttps://www.blogger.com/profile/11468092627549905017noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-71780329718781633482015-01-03T12:12:33.547+08:002015-01-03T12:12:33.547+08:00Hi Siew Mun,
I think you will see the magic of co...Hi Siew Mun,<br /><br />I think you will see the magic of compound interest at its most dazzling. LOL. ;)<br /><br />That is what happens when we give compound interest more time to work its magic. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-80253540286098881152015-01-03T11:28:53.976+08:002015-01-03T11:28:53.976+08:00What the advantages if I max out the child's S...What the advantages if I max out the child's SA?Siew Munhttps://www.blogger.com/profile/11468092627549905017noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-89393658320294409872015-01-03T08:16:27.724+08:002015-01-03T08:16:27.724+08:00Hi qook,
For a list of approved institutions, ple...Hi qook,<br /><br />For a list of approved institutions, please see:<br /><br /><a href="http://mycpf.cpf.gov.sg/NR/rdonlyres/1C022D59-F3E4-45EB-9DAD-DA3145824BD3/0/FORM_AES_F1.pdf" rel="nofollow">INSTRUCTIONS FOR CPF MEMBER / STUDENT FOR THE USE OF CPF SAVINGS<br />UNDER THE EDUCATION SCHEME</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-38842420847776855332015-01-03T05:39:27.678+08:002015-01-03T05:39:27.678+08:00Can the cpf money be used for university overseas?...Can the cpf money be used for university overseas?qookhttps://www.blogger.com/profile/16589715121656455558noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-10131569035518961212015-01-02T23:38:45.645+08:002015-01-02T23:38:45.645+08:00Two things I wonder:
1. Would the boys' qual...Two things I wonder: <br />1. Would the boys' quality of life be better with the extra $10 per week?<br />2. Would the boys appreciate the efforts and planning of their parent when they grow older?KChttps://www.blogger.com/profile/15681244843883578276noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-21987173071825937662015-01-02T23:21:06.791+08:002015-01-02T23:21:06.791+08:00Hi Phyllis and Benjamin,
This is a guest blog by ...Hi Phyllis and Benjamin,<br /><br />This is a guest blog by EY who is a very wise parent, in my opinion. So, EY would be the best person to answer your questions.<br /><br />However, I believe that once we get our NRIC, we are allowed to start a CPF account. That means 15 years old. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-26901084434082128342015-01-02T22:18:45.282+08:002015-01-02T22:18:45.282+08:00AK, what is the youngest age of our kid that we ca...AK, what is the youngest age of our kid that we can start to contribute to their cpf. I also have the same thinking as u but din ask cpf cos my son is only twoBenjaminhttps://www.blogger.com/profile/03314111333345769535noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-28485278146718361922015-01-02T20:48:53.357+08:002015-01-02T20:48:53.357+08:00To me, my CPF money mainly to keep for my mum or p...To me, my CPF money mainly to keep for my mum or probably my siblings.<br /><br />i do not think i can live so old enough to enjoy my CPF money.yehhttps://www.blogger.com/profile/12571111570066245051noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-33347711054045391192015-01-02T20:47:25.368+08:002015-01-02T20:47:25.368+08:00I am also keen to implement for my child. Do you k...I am also keen to implement for my child. Do you know what age can start voluntary cpf contributions?<br /><br />Thank you<br /><br />Regards<br />PhyllisUnknownhttps://www.blogger.com/profile/12494741251664091400noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-62036612246108423292015-01-02T19:27:39.312+08:002015-01-02T19:27:39.312+08:00My plan - 18 yrs old. . . They can start their cpf...My plan - 18 yrs old. . . They can start their cpf, srs, cdp while in the army or working or in university. <br /><br />Gd move EY!Rebelhttps://www.blogger.com/profile/13699200497110968796noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-48698068946185883302015-01-02T18:12:18.149+08:002015-01-02T18:12:18.149+08:00Hi Gary,
You will find all the calculators (and g...Hi Gary,<br /><br />You will find all the calculators (and games) here:<br /><br /><a href="http://mycpf.cpf.gov.sg/Members/Calculators" rel="nofollow">CPF calculators and games.</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-41979457039186059722015-01-02T18:00:30.342+08:002015-01-02T18:00:30.342+08:00Simple idea and I think it is easy to implement! =...Simple idea and I think it is easy to implement! =) Got me started thinking for my kids. Do you know where I can find that calculator which you have shown in your blog?Garyhttps://www.blogger.com/profile/16720789927377358171noreply@blogger.com