Reader says...
Excluding cases where they need to work to have the $ to pay bills, be it for self, family or descendants.
Most of the people I know in their 50-70’s would prefer working than the so-called relax life.
A granny lament she would rather work than “enjoy life” at home.
2 other aunties I know of took up a 4-5 hour/day job after retiring.
Their jobs are not the physically demanding kind. It’s mostly light duties in a comfortable pace environment.
Not everyone views work the same way, like a chore.
AK says...
Of course, not everyone is lazy like AK. ;p
I am not suggesting nor would I ever suggest that everyone be like me.
What would happen to Singapore then? :o
"If AK can do it, so can you!"
It isn't a war cry for people to achieve financial freedom and become a full time gamer like me.
It is simply an encouragement for people to achieve financial freedom because being financially free gives us options.
Simply put,
We want to work because we want to and not because we have to.
Financial freedom affords us this enviable position in life.
If we are working because we need the money, how like that?
If we are working because we want the money, why like that?
If we are working because we simply enjoy working, why not like that?
Give me the freedom to enjoy life!
Related post:
Average income workers can be rich too!
PRIVACY POLICY
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1M50 CPF millionaire in 2021!
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Give me the freedom to enjoy life!
Monday, August 20, 2018Posted by AK71 at 2:53 PM 4 comments
Labels:
money,
passive income,
rich
CPF-SA is not a free lunch but it is not a myth.
Sunday, August 19, 2018
Reader says...
As you were showing your SA amount i was wondering how come it can b higher than the FRS?
I tot SA amount should be capped at FRS.
How did u accumulate $200K+ in your SA?
AK says...
Once our CPF-SA has hit the FRS, no Top Up is allowed.
No OA to SA transfer is allowed either.
However, mandatory contribution and voluntary contribution are still allowed up to the annual contribution cap (i.e. contribution that goes into all 3 accounts) every year.
CPF-SA will also continue to grow from interest earned year after year even after it hits the FRS.
The former Minimum Sum (MS) and, now, the Full Retirement Sum (FRS) are not monsters we should fear.
The FRS has to increase year after year as cost of living increases year after year.
If we push more money into the SA earlier on in life and continue to be gainfully (and legally) employed till we are 55, even after we stop contributing to our CPF, the interest earned in the SA will likely keep pace with the increase in FRS year after year.
Could the interest earned, in fact, be higher than the increase in FRS?
Definitely, it could or, at least, that has been my experience.
The CPF-SA can actually continue to grow without additional effort on our part!
So, is the CPF-SA like the mythical perpetual motion machine?
No.
The perpetual motion machine is a myth.
The CPF-SA is not.
You cannot get something for nothing.
There is no free lunch in this world.
If someone is getting something for free, someone else is paying for it.
The CPF is about helping members to help themselves.
Put nothing in and we get nothing in return.
Put something in and we get something in return.
Feel as if you cannot beat the system?
You are only beaten if you think you are beaten.
Bad AK! Bad AK!
Remember.
If AK can have more than the FRS in his CPF-SA, so can you!
Relates posts:
1. AK showing off his CPF-SA again?
2. 4 ways to boost our CPF savings.
Posted by AK71 at 9:59 AM 5 comments
Labels:
CPF-SA

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