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Thread: Any Ceiling for contribution of CPF OA?

  1. #971
    Junior

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    Quote Originally Posted by cbsh38584 View Post
    [COLOR="#0000FF"][SIZE=5]Advantages of Placing More Money in CPF Special Account[/SIZE][/COLOR]

    1) Guaranteed high interest rate return - 1st 40k earns 5%. Any amt above $40k will earns 4%.

    2) Inflation-proof Interest Rate.CPF Special Account does not only beat inflation, it also beats the stock market Long-Term
    investment.

    3) Away from Creditors like banks, loan shark & others.

    4) Contribute for cash into my son CPF special acct at very early age enable them to take more entrepreneur risk as their
    as call retirement fund is being planned. They don't have to worry about their old age retirement fund.

    50k into children's SA acct at age 5. At age 65, it will grow est $530k - $580k,
    100k into children's SA acct at age 5, At age 65, it will grow est $1m to $1.2m
    Singapore society (or our govt) is the kind of society that does not let it's people rest especially those working people. Work & work till beyond age 65. But if you can plan your retirement early using CPF as a retirement tool. It can be done. Go for your need as 1st priority. Not your want & desire (long for or yearn for or crave for).

  2. #972
    Ultimate Underdog

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    Quote Originally Posted by Khng8 View Post
    More than 5% every year for 30 years?
    I haven’t had 30 years to invest, but the last decade gains have helped me pay the down payment for several investment properties.

    Minimum 5% excluding dividends.

    As the tenants helped to pay down further, one day I find that can qualify for equity term loan. My dilemma is perhaps the last decade has been extraordinarily good. Should I embrace more risk, as stock volatility are creating huge opportunities.

    This year gain in stocks alone already exceeded 30% although I can expect a 5 drop next week.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  3. #973
    Junior

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    I have top up to wife's special acct to the ceiling limit of 171k (2017 figure). At age 65, it will grow to $550k (base on 4%).

    The CPF RA payout will start at age 65. U can delay to age 66,67,68 ..70.
    At age 70, u no longer able to keep your CPF RA untouch till "Kaput"( the rich don't need CPF RA & probably leave untouch)
    This is to prevent "the rich" from benefiting the high interest rate guarantee by our govt. CPF has just implemented the rule this year
    according to the CPF staff.

  4. #974
    Banned

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    Quote Originally Posted by cbsh38584 View Post
    I have top up to wife's special acct to the ceiling limit of 171k (2017 figure). At age 65, it will grow to $550k (base on 4%).

    The CPF RA payout will start at age 65. U can delay to age 66,67,68 ..70.
    At age 70, u no longer able to keep your CPF RA untouch till "Kaput"( the rich don't need CPF RA & probably leave untouch)
    This is to prevent "the rich" from benefiting the high interest rate guarantee by our govt. CPF has just implemented the rule this year
    according to the CPF staff.
    Last time when everyone say don't take HDB loan because the interest is very high, I take max loan and get another 3 private property loan.

    Now people say put money in CPF can earn interest, my mind tell me take as much out as possible. When everyone is doing it can't be right.

  5. #975
    Junior

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    [LEFT][COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][SIZE=5][B][COLOR=#ff0000][FONT=Helvetica][FONT=Helvetica]CPF - Central provident fund or cash poor forever U decide[/FONT][/FONT][/COLOR][/B][/SIZE][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][SIZE=5][B][FONT=Helvetica][FONT=Helvetica]===================================================[/FONT][/FONT][/B][/SIZE][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][COLOR=#0000ff][SIZE=4][B][FONT=Helvetica][FONT=Helvetica]SOW & REAPING - The man who moves a mountain begins by carrying away small stones.[/FONT][/FONT][/B][/SIZE][/COLOR][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][COLOR=#0000ff][SIZE=4][B][FONT=Helvetica]
    [/FONT][/B][/SIZE][/COLOR][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][COLOR=#0000ff][SIZE=4][B][FONT=Helvetica][FONT=Helvetica]I hated every minutes of my money being lock in my CPF , but I said to myself. Take the leap of faith & persevere. Continue contributing to CPF to max ceiling . I will live a more comfortable retirement for my rest of my life. [/FONT][/FONT][/B][/SIZE][/COLOR][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Most of us are going to live longer. it means that we need to save for a longer retirement beyond age 85. Our CPF $ is primarily for retirement funding priority. Not for other purpose like paying for your HDB or investing in stocks[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Looking after OLD AGE PARENT & eventually you yourself (if unmarried) . Are u mentally & financially plan ahead & be prepare for it ?[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]The idea of compound interest mean start saving from a very early age that money you have set aside in your CPF SA (only) to compound over next 35 yrs at 4-5% risk free interest and guarantee.[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]If u can set aside CPF full retirement sum of 176k let say at early age of 35, then you can sort of enjoying your life more with knowing that that your CPF SA will grow from 176k to est $590k (ONLY CPF SA ) at age 65 . If you are still contributing (working) into your CPF SA from age 35 till age 60. Your CPF SA will grow even more to est $850k by age 65. If include CPF SA +OA + MA. It will be more than $1m to 1.3m. You will become retired with comfort. Success is no accident[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Why people actually couldnt take advantage of it ?[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Lack of financial knowledge.[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]-------------------------------------[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]100k bank saving 0.25%. Take 280 yrs to grow to 200k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]100k bank fixed deposit 1.8%. Take 39 yrs to grow 200k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]100k CPF OA 2.5%. Take 28 yrs to grow to 200k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]100k in CPF SA 4%. Take 17 yrs to grow to 200k.[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]http://www.moneychimp.com/calculator/compound_interest_calculator.htm[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]35 years (age 25 to 60) of Salary (base on 36k/yr) = $1.26m[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Take home pay = 1,080,000X80% = $1m[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]CPF contribution employee 20% of $1.26m = $252k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]CPF contribution employer 17% of $1.26m = $214k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Total 35 yrs of CPF contribution = $252k+214k=$466k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]35 years of Salary (base on 72k/yr) = $2.52m[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Take home pay = 1,080,000X80% = $2.016m[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]CPF contribution employee 20% of $2.52km= $504k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]CPF contribution employer 17% of $2.52m = $428k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Total 35 yrs of CPF contribution = $252k+214k=$932k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Over confidence - CPF OA 2.5% easily to make through stock[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]-----------------------------------------------------------------------------------[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Over the last 10 years,>80% of those who invested through the scheme would have been better off leaving their money in the CPF OA (2.5%).[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]CPF SA 4% is the world best. Don't need to bother what US President does or did in the past or what he will do in the future to make life difficult for the world.[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]The investment strategy is always preached (No1) is to form a financial safety net 1st by topping up your special acct & MA acct & let it run to millions dollars. With the knowledge that now you have a million dollars that is coming . Then you go and try out at stock mkt or more holiday or buy car etc. You need an emotional stabiliser for your financial emotions.[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]There are 2 ways to grow your CPF SA faster:[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]1. Top up SA with cash (Max ceiling limit 37.7k per year)[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]2. Transfer from OA (2.5%) to SA (4-5%) (Max limit @$176k


    I have contributed cash at total of $50k into my father (age 88) CPF retirement acct earning 5-6% (1st 30k 6%. Next 30k 5% Amt >60k earn 4%).
    Don't intend to switch to CPF life. Just leave it there unless urgent need.
    [/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR][/LEFT]

  6. #976
    Banned

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    Quote Originally Posted by cbsh38584 View Post
    [LEFT][COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][SIZE=5][B][COLOR=#ff0000][FONT=Helvetica][FONT=Helvetica]CPF - Central provident fund or cash poor forever – U decide[/FONT][/FONT][/COLOR][/B][/SIZE][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][SIZE=5][B][FONT=Helvetica][FONT=Helvetica]===================================================[/FONT][/FONT][/B][/SIZE][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][COLOR=#0000ff][SIZE=4][B][FONT=Helvetica][FONT=Helvetica]SOW & REAPING - The man who moves a mountain begins by carrying away small stones.[/FONT][/FONT][/B][/SIZE][/COLOR][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][COLOR=#0000ff][SIZE=4][B][FONT=Helvetica]
    [/FONT][/B][/SIZE][/COLOR][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][COLOR=#0000ff][SIZE=4][B][FONT=Helvetica][FONT=Helvetica]I hated every minutes of my money being lock in my CPF , but I said to myself. Take the leap of faith & persevere. Continue contributing to CPF to max ceiling . I will live a more comfortable retirement for my rest of my life. [/FONT][/FONT][/B][/SIZE][/COLOR][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Most of us are going to live longer. it means that we need to save for a longer retirement beyond age 85. Our CPF $ is primarily for retirement funding priority. Not for other purpose like paying for your HDB or investing in stocks[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Looking after OLD AGE PARENT & eventually you yourself (if unmarried) . Are u mentally & financially plan ahead & be prepare for it ?[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]The idea of compound interest mean start saving from a very early age that money you have set aside in your CPF SA (only) to compound over next 35 yrs at 4-5% risk free interest and guarantee.[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]If u can set aside CPF full retirement sum of 176k let say at early age of 35, then you can sort of enjoying your life more with knowing that that your CPF SA will grow from 176k to est $590k (ONLY CPF SA ) at age 65 . If you are still contributing (working) into your CPF SA from age 35 till age 60. Your CPF SA will grow even more to est $850k by age 65. If include CPF SA +OA + MA. It will be more than $1m to 1.3m. You will become retired with comfort. Success is no accident[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Why people actually couldn’t take advantage of it ?[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Lack of financial knowledge.[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]-------------------------------------[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]100k bank saving 0.25%. Take 280 yrs to grow to 200k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]100k bank fixed deposit 1.8%. Take 39 yrs to grow 200k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]100k CPF OA 2.5%. Take 28 yrs to grow to 200k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]100k in CPF SA 4%. Take 17 yrs to grow to 200k.[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]http://www.moneychimp.com/calculator/compound_interest_calculator.htm[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]35 years (age 25 to 60) of Salary (base on 36k/yr) = $1.26m[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Take home pay = 1,080,000X80% = $1m[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]CPF contribution employee 20% of $1.26m = $252k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]CPF contribution employer 17% of $1.26m = $214k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Total 35 yrs of CPF contribution = $252k+214k=$466k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]35 years of Salary (base on 72k/yr) = $2.52m[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Take home pay = 1,080,000X80% = $2.016m[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]CPF contribution employee 20% of $2.52km= $504k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]CPF contribution employer 17% of $2.52m = $428k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Total 35 yrs of CPF contribution = $252k+214k=$932k[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Over confidence - CPF OA 2.5% easily to make through stock[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]-----------------------------------------------------------------------------------[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]Over the last 10 years,>80% of those who invested through the scheme would have been better off leaving their money in the CPF OA (2.5%).[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]CPF SA 4% is the world best. Don't need to bother what US President does or did in the past or what he will do in the future to make life difficult for the world.[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]The investment strategy is always preached (No1) is to form a financial safety net 1st by topping up your special acct & MA acct & let it run to millions dollars. With the knowledge that now you have a million dollars that is coming . Then you go and try out at stock mkt or more holiday or buy car etc. You need an emotional stabiliser for your financial emotions.[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica]
    [/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]There are 2 ways to grow your CPF SA faster:[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]1. Top up SA with cash (Max ceiling limit 37.7k per year)[/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR]
    [COLOR=#1D2129][FONT=Helvetica][LEFT][FONT=Helvetica][FONT=Helvetica][FONT=Helvetica]2. Transfer from OA (2.5%) to SA (4-5%) (Max limit @$176k


    I have contributed cash at total of $50k into my father (age 88) CPF retirement acct earning 5-6% (1st 30k 6%. Next 30k 5% Amt >60k earn 4%).
    Don't intend to switch to CPF life. Just leave it there unless urgent need.
    [/FONT][/FONT][/FONT][/LEFT]
    [/FONT][/COLOR][/LEFT]
    Something is not right, next year end Feb I will take as much out as possible.

  7. #977
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    Quote Originally Posted by Arcachon View Post
    Something is not right, next year end Feb I will take as much out as possible.
    Can share why?

  8. #978
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    Quote Originally Posted by sying View Post
    Can share why?
    he is just a fool who got lucky

  9. #979
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    Quote Originally Posted by sying View Post
    Can share why?
    Not many can accept what I share. I am not Lucky just God Bless.

    Those who MTB is even worst and they keep missing it.

    But I will still share with those who agree so that fewer people MTB again.

    Money is created out of thin air, the amount can only increase cannot reduce.

    The rate of inflation is invisible to many.

    We are in a period of wealth transfer from the have not to the have.

    The government is doing it best to help the have not but still many will tell them they can wait.

    If Bank can lend me money to buy I will still buy.

  10. #980
    Junior

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    Default Re: Any Ceiling for contribution of CPF OA?

    Quote Originally Posted by cbsh38584 View Post
    Singapore society (or our govt) is the kind of society that does not let it's people rest especially those working people. Work & work till beyond age 65. But if you can plan your retirement early using CPF as a retirement tool. It can be done. Go for your need as 1st priority. Not your want & desire (long for or yearn for or crave for).

    Things have CHANGED after the once in a century US financial crisis in 2008/09. Negative interest rate , stagnant pay , uncertainty job security , high cost of living (food & healthcare high inflation) & surging housing price (HDB sold at record $1.2M)


    The govt had pumped trillions of $$ into the economy to stabilize the banking sys. So never before in history has there been as much $$ as there is today and rarely has $$ been so cheap (-ve) & yet the central banks continue to pump $$ into the world We are being flooded by trillions trillions of $$.


    Many Sporean have been burned by stock , high yield junk bond & scam investment. Now they want to stay away from risky investment. They faced the dilemma as many others what to do with their savings with low interest rates. The bank interest on savings acct which is almost zero at just 0.05% That means that U get 50ct interest for every $1000 per yr. Days of high the interest rates of 5% to 8% we had 30 to 40 yrs ago is gone.
    The poor & middle class are not financially educated enough. Poor citizens suffer the most because high inflation is getting higher year by year. The 40 yrs of high growth is the thing of the past The next 10 to 20 yrs will be a tough for future generation.


    With so many uncertainty , you need to micro manage your financial planning seriously. As most of us are going to live longer. We need to save for our retirement beyond age 85.Make sure you plan your retirement way ahead. U need to CHANGE your attitude toward the CPF as a source for retirement planning. It is a damn good scheme even our foreign PR love so much due to high interest rate 4-5%come with risk free & guarantee.


    ----------------------------------------------------------------------
    100k - bank saving rate 0.25%.
    Take 280 yrs to grow to 200k

    100k - bank fixed deposit of 1.8%.
    Take 39 yrs to grow to 200k

    100k - CPF OA 2.5%.
    Take 28 yrs to grow to 200k

    100k - CPF SA 4%-5% .
    Take 17 yrs to grow to 200k.

    -----------------------------------------------------------------------
    There are ways to grow your CPF SA (4% - 5%)
    1a.Top up cash $100/mth for 240 mths or 20 yrs . Amount saved is $24k in your CPF SA. It will grow to $36,389.

    1b.Top up cash $200/mth for 240 mths or 20 yrs . Amount saved is $48k in your CPF SA. It will grow to $72,778 .



    2. Top up SA with cash immediately to current FRS ceiling 176k ( for 2019) if you have the mean.


    3. Transfer from OA (2.5%) to SA (4-5%) to the Max limit @$176k as young as possible if you have the ability to service your housing loan with cash.
    -----------------------------------------------------------------------


    Do it as young as possible while you can. Don't gamble on the future retirement. Act now without delay. You may hated every minutes of your money being locked in my CPF , but you remind to yourself. Take the leap of faith & persevered. Continue contributing to CPF SA . You will live a more comfortable retirement for my rest of my life.

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