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Ever since the CPFB introduced a colorful pie chart of our CPF savings a few years ago, I would look forward to mine every year like a teenager would wait in line for a cup of bubble tea.
Do you know that bubble tea is wealth and health destruction incarnate?
Expensive carbohydrate and sugar.
Expensive empty calories.
Oops, I digress.
So, what does my CPF pie look like?
It looks different from previous years.
I shouldn't say "it" because this year we get more than one pie.
I prefer the old pie because it looked cheerful with bright colors.
These new ones look really dull.
Anyway, I will just show the first pie:
Are you disappointed?
Oh, you are but not with the colors of the pie but with the numbers?
Right, where is the one million dollars AK hinted at in the blog title?
Well, this is where AK got tricky.
Some of you might have guessed it.
Voluntary contribution of $37,740 this month to my CPF account means I have more than one million dollars in CPF savings now!
Maybe, AK is an overgrown hobbit.
"Stupid hobbitses, tricksy hobbitses."
Gollum reads Donald Trump's tweets:
Yes, I know.
Bad AK! Bad AK!
My CPF savings in January 2021:
Total:
$1,012,703.70
Hurrah!
We know of 1M65 which is to have one million dollars in CPF savings by age 65.
We might also have heard of people who have accumulated one million dollars in CPF savings before age 65 and now AK is one of them.
AK is 50 this year.
AK is 50 this year.
So, AK is a 1M50 CPF millionaire!
Technically, AK is a 1M49 CPF millionaire as he is a year end baby but 1M50 looks more wholesome.
So, 1M50 it is.
Anyway, 49 or 50, eh, who cares?
Indeed, I would argue that it doesn't really matter if it is 1M50, 1M55, 1M60 or 1M65.
I said before that the journey to financial freedom is not a race and as long as we achieve financial freedom, we win.
The same spirit should be applied to growing our CPF savings as just like the quest to achieve financial freedom, each of us could go at a different speed because each of us have our own circumstances to deal with.
Think of it as a rewarding journey that should provide some pleasure along the way.
No pressure, just pleasure.
As long as we are doing the right things as much as we can, we should give ourselves a pat on the back.
Growing my CPF savings over the years has been very satisfying and although I can only see the pie now, I will get to eat it one day.
Growing old is definitely not all doom and gloom if we are well prepared and we should help the CPF to help ourselves.
If we have not done so, start now.
Stay the course and, over time, we will see results.
Remember, compound interest might seem like magic but it really is simple math.
We don't have to be talented like Harry Potter to make it work for us.
If AK can do it, so can you!
AK says one hor. ;)
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