tag:blogger.com,1999:blog-7944902213075756335.post1282238782847481405..comments2024-03-29T10:22:24.187+08:00Comments on A Singaporean Stocks Investor (ASSI): How to make my money last longer? A senior's example.AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-7944902213075756335.post-79826122017694666182015-02-06T13:22:24.024+08:002015-02-06T13:22:24.024+08:00Hi Sally,
Effective 1 July last year, the Medisav...Hi Sally,<br /><br />Effective 1 July last year, the Medisave Account minimum sum is S$43,500, if I remember correctly.<br /><br />If your MA is already at maximum, then, any voluntary contribution you make will go only to your OA and SA. That is good news for you. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-35511832192080667672015-02-06T12:18:22.214+08:002015-02-06T12:18:22.214+08:00AK
Thanks and I learned something from you today...AK <br /><br />Thanks and I learned something from you today I.e. If my Medisave account balance is already at maximum, any VC contribution will not go to medisave account any more but instead will channel to my OA and SA . This will probably affect my decision now as I think I have maxed my me dosage account . May I know what is the current maximum medisave account ?<br /><br />Thanks Ak<br /Anonymoushttps://www.blogger.com/profile/04404571687766630287noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-15051303903262207572015-02-05T08:29:02.450+08:002015-02-05T08:29:02.450+08:00Hi bb,
Well, I think that the CPF is an important...Hi bb,<br /><br />Well, I think that the CPF is an important tool in helping us achieve retirement adequacy but I don't think that it is an effective retirement vehicle. I am of the opinion that it cannot carry all our retirement needs comfortably.<br /><br />So, other than the CPF, there is still a need to grow our nest egg by saving more money and growing it through prudent investment.<br /AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-39530702724654220392015-02-04T22:36:27.342+08:002015-02-04T22:36:27.342+08:00hi AK!
thanks for your sharing! and like you, i be...hi AK!<br />thanks for your sharing! and like you, i believe in CPF as an effective retirement vehicle. (thank goodness your dad didn't join the #ReturnOurCPF looney fringe ^.^;)<br /><br />anyway would like to share a link that i've just read. bertha is an ex-ST editor abs i love her post-ST writing. she's written a post about the changes announced today, and i thought it's too bbmaghttps://www.blogger.com/profile/01473549423120731444noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-46528695842289590672015-02-04T12:06:48.669+08:002015-02-04T12:06:48.669+08:00Hi Sally,
Thank you so much for sharing the detai...Hi Sally,<br /><br />Thank you so much for sharing the details. Much appreciated.<br /><br />I have overlooked a very important point and that is my parents' MAs are maxed out. So, their VCs go only to their OA and SA. <br /><br />I will make a note in the blog post so that readers will read your comment. Thanks again! :DAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-66115474025447419022015-02-04T11:46:08.395+08:002015-02-04T11:46:08.395+08:00AK,
Thank you for sharing your financial knowledg...AK,<br /><br />Thank you for sharing your financial knowledge in the blog. I was quite keen to do a Voluntary CPF contribution of earning a higher interest rate between 2.5% to 4%, until I found out the below from CPF Board.<br /><br />The Allocation % of the VC to the 3 accounts viz OA, SA and Medisave varies with Age Group. For Retiree in the Age group of 60-65, the % allocation to Medisave is Anonymoushttps://www.blogger.com/profile/04404571687766630287noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-31566850975010900902015-02-03T21:18:51.892+08:002015-02-03T21:18:51.892+08:00Hi Machi,
What did I do? :o
But you are welcome...Hi Machi,<br /><br />What did I do? :o <br /><br />But you are welcome. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-85651522254423096682015-02-03T21:13:29.989+08:002015-02-03T21:13:29.989+08:00Thanks AK!Thanks AK!Machihttps://www.blogger.com/profile/17085379334878114093noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-24865673770944940152015-02-02T23:21:10.027+08:002015-02-02T23:21:10.027+08:00Hi RVS,
Hey, thanks for letting me know. I am gla...Hi RVS,<br /><br />Hey, thanks for letting me know. I am glad. :DAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-10878524328415367812015-02-02T23:01:25.479+08:002015-02-02T23:01:25.479+08:00Hi AK,
Please be rest assured that the lady has r...Hi AK,<br /><br />Please be rest assured that the lady has read this article and very happy to have gone for the meeting on Saturday.<br /><br />She found the meeting very fruitful and expresses her thanks to AK and everyone there for being so patient, answering in great detail the question she posed.Anonymoushttps://www.blogger.com/profile/18180792490884202536noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-41581092485993157712015-02-02T22:58:54.690+08:002015-02-02T22:58:54.690+08:00Hi Machi,
I am afraid I do not have any experienc...Hi Machi,<br /><br />I am afraid I do not have any experience in this area.<br /><br />You should give your broker a call and find out from them. I think they should be able to point you in the right direction. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-44968642509303248042015-02-02T22:57:50.868+08:002015-02-02T22:57:50.868+08:00Hi BP,
My parents are also of the pioneer generat...Hi BP,<br /><br />My parents are also of the pioneer generation but they had RAs created for them by the CPF when they turned 55. I guess your dad must be much older than my parents. :)<br /><br />My understanding is that if your dad didn't have a MS he had to meet and was able to withdraw all his CPF savings, any VC to his OA and SA now can be withdrawn at any time if he is no longer AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-52922589457844481902015-02-02T22:43:10.843+08:002015-02-02T22:43:10.843+08:00Hi Ak,
Is there a way to email you or is this the...Hi Ak,<br /><br />Is there a way to email you or is this the best way/platform to ask questions? I feel like I am asking questions in the wrong blog topic. SORRY! :)<br /><br />Would like to ask you what is the best (Cheapest) way to buy US shares from Singapore? <br /><br />I searched online and there are so many different information - like convert SGD to USD from one bank first and then Machihttps://www.blogger.com/profile/17085379334878114093noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-23603412616322328082015-02-02T22:31:41.767+08:002015-02-02T22:31:41.767+08:00My dad was the pioneer generation which he had wit...My dad was the pioneer generation which he had withdrew all oa and sa as that was before the minimum sum scheme, if i were to do VC into his cpf. He could withdraw it anytime? Or once a year? Or would the money he locked in as it doesnt meet ms?BPhttps://www.blogger.com/profile/16909857149096270885noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-45901431513086316612015-02-02T21:45:00.057+08:002015-02-02T21:45:00.057+08:00Instead of giving monthly allowance for retired pa...Instead of giving monthly allowance for retired parents. One can also make arrangement with the elders to top up to the RA account instead. <br /><br />The children gets to enjoy tax relief for the money they top up and the parents get to enjoy higher interest rate for a higher payout over time. <br /><br />Some parents might need some convincing, enlighten one will lead to a arrangement that Solacehttps://www.blogger.com/profile/08801978818033316328noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-41606604758416537262015-02-02T16:12:56.142+08:002015-02-02T16:12:56.142+08:00You might also be interested in videos regarding r...You might also be interested in videos regarding reaching 55 and CPF Life:<br /><br /><a href="http://singaporeanstocksinvestor.blogspot.sg/2014/09/videos-on-reaching-55-and-what-is-cpf.html" rel="nofollow">Videos.</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-82033676361542110542015-02-02T16:10:34.598+08:002015-02-02T16:10:34.598+08:00Hi pansy,
At 55, a RA will be created for us. Mon...Hi pansy,<br /><br />At 55, a RA will be created for us. Money from the SA will be moved to the RA to meet the prevailing MS. If insufficient, money from the OA will also be moved to the RA.<br /><br />Thereafter, if there should be any amount remaining in the SA and OA, the money could be withdrawn once a year if the CPF member is still gainfully employed or anytime he wants if he is retired.<brAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-64472426292724111012015-02-02T15:58:08.799+08:002015-02-02T15:58:08.799+08:00a little confused here as I thought the gov combin...a little confused here as I thought the gov combine OA and SA into RA once we hit 55. <br /><br />is there a min amt to be kept in the accounts even though your dad is well over the retirement age? is he able to withdraw from SA once a year too?<br /><br />i wonder if the gov has a max amt for VC ( just like for us! ) for the elders. truly there is no place in the market that guarantees 4%. If weAnonymoushttps://www.blogger.com/profile/03213226658155618573noreply@blogger.com