Could I use the money contributed voluntarily to my CPF?

The General Election has generated much more interest in the CPF:

YT:
hmmm.....if I already use the cpf for my first hdb. Now, I got cash to top up my OA. Can I use the OA to buy my second property.....say, a condo?

AK:
Yes, of course, You could use the money in your CPF OA for purchase of a second property. It doesn't matter how the money found its way into the OA.

You could do Voluntary Contributions to max out the annual Contribution Cap, you could do it and see the money flowing into your OA, SA and MA. If your MA is maxed, then, the money flows only into your OA and SA.

I think this gives those who think they might need their CPF-OA money for purchase of a second property (or for some other purposes) some flexibility while earning higher interest. If they decide not to, then, simply keep the money in their CPF accounts and the money goes towards retirement funding. For people who have decided that they want to make contributions to their CPF for retirement funding purposes, then, it is probably better to do a MS Top Up to their SA which also gives them income tax relief for the first $7K contributed per year.

The CPF is a self-help institution. If we are able to help the system to help ourselves, we should give it serious consideration.

Important note:"If you have already used CPF for a property and wish to use CPF for your second property, you can only use the excess CPF Ordinary Account savings for your second property after setting aside half of the prevailing Minimum Sum in your Special and Ordinary Accounts. The total CPF allowable for your second property is also capped at 100% of the Valuation Limit."(Source: http://www.moneysense.gov.sg/)

Related post:
Should a 20 yo do a VC or MS Top-Up?

Is InvestX Congress 2015 value for money? It depends.

When a reader asked me for my opinion about InvestX Congress 2015 which is happening next month, I said I feel it is a value for money event and she said whether it is going to be value for money depends on how much she would be able to absorb. 

Then, she sent me this sticker:

I think that is a very responsible way to behave and my respect for the reader went up a notch.

However, having been a teacher before, I know it is also my responsibility to be as clear as possible in my delivery, be it spoken or written. I tried my best to ensure my students understood me.

Even as I blog and talk to myself, I try to be coherent or I might not understand myself. So, I certainly hope that, as a blogger, I have been an effective communicator too.

Certain topics are more difficult to communicate, especially those which are more technical. It could be very challenging for the speakers then, especially if they were to give a speech to an audience who are not familiar with the topic and its jargons. From some of the feedback from readers regarding InvestX Congress 2014 about how they had difficulty understanding one of the speakers (whose topic was interesting but the details very technical), I know this to be true.

Well, at InvestX Congress 2015, I don't know the other speakers but I know Victor Chng and Rusmin Ang quite well and have seen them in action many times before. For those who have gone for their Dividend Machines workshop, they would know that Victor and Rusmin are very good trainers. They know their stuff and they deliver well.

AK with his readers at a Dividend Machines workshop.

Dividend Machines is, of course, about investing for income. I believe Rusmin is going to talk a bit about that at InvestX Congress 2015. However, he and Victor have interest in investing in growth companies which is something rather different from pure income investing. They will be talking more about this at InvestX Congress 2015.

Dividend Machines cost almost US$250 per person and I thought it was great value for money for what was delivered. What about the early bird tickets at S$99 each for InvestX Congress 2015 which is also a full day event? 

See why I think it is a good deal?

InvestX Congress 2014.

In case you would like to know, yes, AK will be at InvestX Congress 2015. 

There is going to be a 1 hour panel discussion at the event and I will be on the panel. So, if you are going to the event, I will see you there. 

Oh, if you have decided to go, please get your tickets early. Don't pay the full price. Yes, you would expect AK to say something like this.

Get your early bird tickets: HERE.

Date: 
17 October 2015, Saturday.

Time: 
9am to 6pm (Registration starts at 8.30am).

Venue: 
Suntec Convention Centre, Level 3, Summit 1.

"Whether socks or stocks, I like buying quality merchandise when it's marked down." Warren Buffett.

Related post:
AK is a panelist at InvestX Congress 2015.

TC bins are for burning joss paper, not other stuff.

The haze is very bad today. I didn't want to leave my home which has an air purifier on 24 hours a day.

Then, I had a craving for Mee Pok. Sigh. I decided to brave the haze and went out for lunch. Almost immediately, my eyes started to itch and my nose became runny. What I would do for a bowl of Mee Pok.

Well, was it worth it? Yes, the Mee Pok was good but on my way back, I saw a man trying to poke some candles into the grass verge at the car park. He had a whole stack of joss paper on the ground too.

I think most of us have seen burnt patches of grass, concrete pavements and metal grills which cover the drains before. This is despite the fact that the town councils (TCs) have placed metal bins for the burning of joss paper for Taoists to practice their religion.

The grass patches, concrete pavements and metal grills are public property. We know we shouldn't damage public property. Of course, burning them also affects the aesthetics of the environment.

Source: NEA

Anyway, I told the man that if he was thinking of burning joss sticks and joss paper on the grass patch, he shouldn't. There are bins for that purpose. I told him he would be damaging public property. 

He was very defensive and said that he was only placing the candles and joss sticks in the ground. He said he was going to burn the joss paper in the bin behind the building.

I took his word for it. What else could I do? I couldn't stand there and watch him. 

When I drove past the same spot a few minutes later, I saw that he was gone. No candles and no joss sticks in the ground either. Good.

Singapore is a densely populated country and it would be a more pleasant place to stay if we are all more considerate towards others. Before we do something, think how it might affect the common spaces and other people.

I also had an experience of telling some people not to use the TC bins for burning other stuff. This was when I saw two men, probably South Asians, who were disposing big pieces of styrofoam in one such bin. 

They weren't just throwing them into the bins, they were burning them! Imagine the smoke and the smell!

I told them to stop immediately. I asked them if someone told them to do it or did they do it on their own? They pretended not to understand. 

Then, I told them if they were to continue burning the styrofoam, they were going to die soon because the fumes were poisonous!

I saw their eyes widened in fear and they started fishing out the pieces of styrofoam faster than they put them in earlier. I found a new way to teach people the English language. Fear.

I quickly left after that. I am sure my life shortened by a few minutes in that encounter but I saved the environment from greater harm, I told myself.

Please don't be afraid to tell people if they are not aware that their actions are harmful to themselves or others. Of course, we can only hope that they listen.

Related post:
Vandals and selfish cyclists.