tag:blogger.com,1999:blog-7944902213075756335.post5438332622446554849..comments2024-03-28T23:00:40.055+08:00Comments on A Singaporean Stocks Investor (ASSI): 4 ways to beef up our CPF savings! (InvestX Congress and the CPF.)AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger31125tag:blogger.com,1999:blog-7944902213075756335.post-26444916359163602722019-02-25T12:28:32.367+08:002019-02-25T12:28:32.367+08:00Lim Ho says...
If I top up 7k to SA and VC 1k to m...Lim Ho says...<br />If I top up 7k to SA and VC 1k to medical account, how much tax relief will I get?<br />7k or 8k?<br /><br /><br />AK says...<br />I can only share ideas. <br />For exact computation, give CPFB or IRAS a call. ;)<br />AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-76660591989971116662019-02-22T11:54:24.712+08:002019-02-22T11:54:24.712+08:00Reader says...
Do you know if there is a limit on ...Reader says...<br />Do you know if there is a limit on the maximum VC I am able to make? <br />If so, how should I go about achieving the maximum amount to contribute? <br /><br />AK says...<br />Read this blog. ;p AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-31036633582205885132018-11-25T16:27:02.556+08:002018-11-25T16:27:02.556+08:00CH CH Ng says...
I was wondering if I topped up th...CH CH Ng says...<br />I was wondering if I topped up the SA 7k for tax relief am I able to claim the $2.7k in the MA increase also..looks like need a phone call to CPF again<br /><br />Goh Beng says...<br />top-up is for SA/MA, so for your example only 7k eligible for tax relief<br /><br />AK says...<br />I know it can be confusing. :)<br />Top Ups and Voluntary Contributions (VC) are different.<AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-13740856995493765672018-06-06T14:44:35.797+08:002018-06-06T14:44:35.797+08:00Jack James says...
By following Assi AK advices di...Jack James says...<br />By following Assi AK advices diligently , my SA hit MS this year . No more S$7K tax relief for next year . But I see it as a good problem .<br /><br />"If AK can do it, so can you!" - AKAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-76393102300778643662018-01-02T13:27:54.453+08:002018-01-02T13:27:54.453+08:00Reader says...
thank you for posting all the artic...Reader says...<br />thank you for posting all the articles on how to maximize $$. <br />Can i check, <br />Lets say i have contributed:$7000 (Cash) in 2018 .<br />can i still do transfer from OA to SA? <br />is the limit $7000 ?<br /><br />AK says...<br />I assume that the $7K is a top up to your SA.<br />If your SA has yet to hit the FRS, you can do OA to SA transfer even after this $7K top up.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-35879709893431988192017-11-17T11:44:57.948+08:002017-11-17T11:44:57.948+08:00Reader says...
Let's say my medisave is alread...Reader says...<br />Let's say my medisave is already $52K for 2017 and next year the cap is $54.5K.<br />My employment contributes more than the $2.5K increase e.g. $3K in medisave cap for 2018.<br />So even if i top up $2.5K medisave next year in January, I am not entitled to the VC-MA tax relief right? How about the interest calculated<br />----------------<br /><br />AK says...<br />If we AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-20094922612622289032017-10-07T01:17:14.873+08:002017-10-07T01:17:14.873+08:00Hi Yan,
Older than 55?
No top ups to CPF-SA is ...Hi Yan,<br /><br />Older than 55? <br /><br />No top ups to CPF-SA is allowed. <br /><br />You are allowed to top up your CPF-RA if it has yet to hit FRS. <br /><br />The Top Up will get income tax relief.<br /><br />You have to decide on BRS, FRS or ERS at age 55 but top up is only till FRS. <br /><br />ERS is achieved by transferring money from SA/OA to RA.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-78147282390973809352017-10-07T00:35:45.770+08:002017-10-07T00:35:45.770+08:00Hi AK,
If one has reached the Full Retirement Sum...Hi AK,<br /><br />If one has reached the Full Retirement Sum limit and is over the age of 55, will they still get the tax exemption for the $7000 cash top up, assuming that they have not reached the Enhanced Retirement limit?<br /><br />Thanks<br />Yanhttps://www.blogger.com/profile/10759984432484826048noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-59655986524818564592017-09-27T10:01:47.013+08:002017-09-27T10:01:47.013+08:00Hi Alvin,
1. Saving as much as possible and as ea...Hi Alvin,<br /><br />1. Saving as much as possible and as early as possible can only be a good thing especially with compound interest in the mix.<br /><br />2. You can do that from age 55 if you still have money left in your CPF-SA once your retirement sum option (BRS, FRS or ERS) is locked in your newly created CPF-RA then.<br /><br />3. Anything above the FRS can be withdrawn from your CPF AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-84436196572242920472017-09-26T17:09:07.405+08:002017-09-26T17:09:07.405+08:001) Is there any drawbacks to contribute the full A...1) Is there any drawbacks to contribute the full Annual Limit of $37,740 from age 22 onwards till age 55?<br />2) Can I use the CPF SA as a high yield savings account whereby I just withdraw the interest earned from the previous year for daily usage for the following year? Meaning to say can I live on the 4% interest earned year on year?<br />3) If we reached FRS in RA we can absolutely withdraw Anonymoushttps://www.blogger.com/profile/11388956217084718830noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-82910256942192834312017-09-26T17:07:56.001+08:002017-09-26T17:07:56.001+08:001) Is there any drawbacks to contribute the full A...1) Is there any drawbacks to contribute the full Annual Limit of $37,740 from age 22 onwards till age 55?<br />2) Can I use the CPF SA as a high yield savings account whereby I just withdraw the interest earned from the previous year for daily usage for the following year? Meaning to say can I live on the 4% interest earned year on year?<br />3) If we reached FRS in RA we can absolutely withdraw Anonymoushttps://www.blogger.com/profile/11388956217084718830noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-13566330970171107302017-09-12T09:33:20.261+08:002017-09-12T09:33:20.261+08:00Hi Ben,
There is a right or wrong decision.
If ...Hi Ben,<br /><br />There is a right or wrong decision. <br /><br />If our actions are detrimental to what we want to achieve, it is the wrong decision. Having said this, we don't always make the right decisions in life. <br /><br />We have to take ownership and find remedies. <br /><br />Unfortunately, most people just complain and blame the government.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-86884715827596424422017-09-11T20:14:58.613+08:002017-09-11T20:14:58.613+08:00CPF is the avenue in which one can take full advan...CPF is the avenue in which one can take full advantage of the reasonable high interest by making voluntary contributions as well as transfer from OA to SA. <br /><br />It will be fastastic if one refrains from using the CPF funds to pay for the housing related payment. It will be difficult for one to do so especially for those with minimal CPF savings when they join the workforce. In a few years&WTKhttps://www.blogger.com/profile/11459028978258841179noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-32781483137682511522017-08-29T22:56:16.523+08:002017-08-29T22:56:16.523+08:00Hi Brina,
I must remember to water down my jokes ...Hi Brina,<br /><br />I must remember to water down my jokes in future. The CPF is no laughing matter. ;pAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-21654685236885728922017-08-29T22:28:45.250+08:002017-08-29T22:28:45.250+08:00Thanks for clarifying AK! I must have laughed too ...Thanks for clarifying AK! I must have laughed too much from all your jokes and got everything mixed up. >.<<br /><br />brinaBrinahttps://www.blogger.com/profile/18133551176351589445noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-51070887662351135412017-08-25T09:49:31.017+08:002017-08-25T09:49:31.017+08:00Hi Match,
Very succinct. Yes, that is correct. :)...Hi Match,<br /><br />Very succinct. Yes, that is correct. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-9762167352281032882017-08-25T08:01:13.069+08:002017-08-25T08:01:13.069+08:00AK,
Thank you so much. Just want to check if my ...AK, <br /><br />Thank you so much. Just want to check if my understanding of how CPF works is correct on the interest earned. Interest are earned as per OA, SA and MA, and the interest earned flows from MA to SA to OA when it reaches per say the Max. BHS or FRS. Is this correct? <br />Matchhttps://www.blogger.com/profile/00991653820777551310noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-66561875269065932712017-08-23T14:12:29.330+08:002017-08-23T14:12:29.330+08:00Hi match,
No interest would be given for any exce...Hi match,<br /><br />No interest would be given for any excess contribution. <br /><br />Basically, we would get back the excess contribution and nothing else.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-17482741039368121352017-08-23T14:10:45.889+08:002017-08-23T14:10:45.889+08:00Hi InvestSg,
I guess I should blog about this and...Hi InvestSg,<br /><br />I guess I should blog about this and here it is:<br /><a href="http://singaporeanstocksinvestor.blogspot.sg/2017/08/do-this-to-inject-more-funds-into-cpf-sa.html" rel="nofollow">Do this to inject more funds into CPF-SA?</a>AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-91639634085902760562017-08-22T19:00:19.392+08:002017-08-22T19:00:19.392+08:00Hi AK,
If your voluntary contributions exceeds th...Hi AK,<br /><br />If your voluntary contributions exceeds the annual contribution, CPF would refund the excess fund less the interest. Lets say if your MC is $37,740 at the end of the year and through the months, VC of total $12,000 ($1000 per month) is made. CPF would refund the excess of $12,000 less the interest and what would happened to the interest or would there be interest earned on the Matchhttps://www.blogger.com/profile/00991653820777551310noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-42384429598923299982017-08-22T17:51:32.389+08:002017-08-22T17:51:32.389+08:00Hi AK,
Good recap of your talk.. thank you:)
Got a...Hi AK,<br />Good recap of your talk.. thank you:)<br />Got a question: "Top Up your SA (not beyond FRS) - is it possible to max out SA to buy SG gov bonds, then top up SA to max, and then sell the SGBs and return money back to SA? workable bo?<br /><br />Invest Sghttps://www.blogger.com/profile/08190446446852309354noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-7643059387622702082017-08-21T09:33:24.340+08:002017-08-21T09:33:24.340+08:00David Poh:
i really enjoyed your talk. As you wer...David Poh: <br />i really enjoyed your talk. As you were showing your SA amount i was wondering how come it can b higher than the FRS? I tot capped at $166k. How did u accumulate $200K+ in your SA?<br />---------------<br /><br />AK:<br />Once our CPF-SA has hit the FRS, no Top Up is allowed. No OA to SA transfer is allowed either.<br /><br />However, mandatory contribution and voluntary AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-41927678555896134292017-08-20T23:19:36.449+08:002017-08-20T23:19:36.449+08:00Hi Apex,
Oops. I missed your earlier comment.
Yo...Hi Apex,<br /><br />Oops. I missed your earlier comment.<br /><br />You are probably referring to the option to do voluntary refunds to our CPF-OA for money used to pay our housing loan. This makes sense because it will stop accrued interest from growing over the years and it will help us grow our CPF-OA money.<br /><br />However, topping up our SA offers income tax relief. If the income tax AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-12477368595740660022017-08-20T22:19:55.130+08:002017-08-20T22:19:55.130+08:00Would it be better to pay off the HDB mortgage or ...Would it be better to pay off the HDB mortgage or top up SA?apex property investmenthttps://www.blogger.com/profile/10212043999663021172noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-64661326463538524922017-08-20T22:07:08.520+08:002017-08-20T22:07:08.520+08:00Hi Brina,
Remember, top ups and voluntary contrib...Hi Brina,<br /><br />Remember, top ups and voluntary contributions are separate.<br /><br />Refer to the terminology and the 4 ways to beef up our CPF which I shared during my talk.<br /> I have listed them in this blog for easy reference. ;)<br /><br />Mandatory contributions + voluntary contributions cannot exceed the annual contribution limit.<br /><br />Top Ups are on top of this annual AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.com