CPF interest 2017

[crimsontactics]

Ha ha like you can choose the timing.

Had you bought DBS about twenty years ago at a high price you will be terribly sore even with today's closing price

20 years ago I only 6 years old...

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[mummy1234]

Ha ha like you can choose the timing.

Had you bought DBS about twenty years ago at a high price you will be terribly sore even with today's closing price

Yeah, my mum has a lot of shares and is already 70 years plus. Was upset when DBS fell and sold some when it rose again. I dunno if she should be having so much shares at her age though she has also other investments. But apparently above 70 years or so u cannot invest alone, you need someone to sign with u in case u have dementia I suppose.

 

[crimsontactics]

Yeah, my mum has a lot of shares and is already 70 years plus. Was upset when DBS fell and sold some when it rose again. I dunno if she should be having so much shares at her age though she has also other investments. But apparently above 70 years or so u cannot invest alone, you need someone to sign with u in case u have dementia I suppose.

But dividend should be not bad mah...

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[mummy1234]

But dividend should be not bad mah...

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Yeah I Guess, and she says will give to me and my Sister when she passes on. She is financially independent thankfully so when my sis and my hubby are unemployed, she understands when we give less to her monthly. She put S$90 k plus into her CPF herself under the old scheme so that she had about S$1 k payout a month for 10 years. She has little CPF otherwise cause was mostly a housewife.

But your SA will compound very nicely since you r young.

 

[JuniorLion]

All the big cannons are firing in this thread

 

[mummy1234]

mummy no tax relief if already FRS is met regardless which account cash topup is going into. I asked at 2 branches last week

Yeah, so should just TOP up S$7k yearly to get tax relief probably. Need cash on standby for emergencies and still have big mortgages with 3 properties...considering if I should sell my 1 bedder freehold condo/apartment in Sims Ave and return the money to CPF. But rental income and property is more liquid than CPF which may push back the draw down age or adjust rates.

 

[mummy1234]

All the big cannons are firing in this thread

How old r u? There r many much more wealthy people than me amongst my peers u know?

 

[OngHuatHuat]

I like sims avenue.
I thought your Malaysia property is fully paid?

Yeah, so should just TOP up S$7k yearly to get tax relief probably. Need cash on standby for emergencies and still have big mortgages with 3 properties...considering if I should sell my 1 bedder freehold condo/apartment in Sims Ave and return the money to CPF. But rental income and property is more liquid than CPF which may push back the draw down age or adjust rates.

 

[ocs_woodlands]

All the big cannons are firing in this thread

You got lost liao.... Please find your way back to EDMW .... lol

Sent from Common Sense using GAGT

 

[OngHuatHuat]

1 k payout per month for 10 years only under old scheme? What will happen after 10 years?

Yeah I Guess, and she says will give to me and my Sister when she passes on. She is financially independent thankfully so when my sis and my hubby are unemployed, she understands when we give less to her monthly. She put S$90 k plus into her CPF herself under the old scheme so that she had about S$1 k payout a month for 10 years. She has little CPF otherwise cause was mostly a housewife.

But your SA will compound very nicely since you r young.

 

[mummy1234]

1 k payout per month for 10 years only under old scheme? What will happen after 10 years?

No more payout. I asked her to choose CPF Life she don't want cause lower payout.

 

[mummy1234]

I like sims avenue.
I thought your Malaysia property is fully paid?

Yeah, from borrowed equity on my Sg terrace though... so I got the title deed this funny way...

 

[OngHuatHuat]

Like that seems quite bo hua, your mum should be quite healthy.

What if she doesn't have anymore payout after 10 years? She will need to rely on you?

No more payout. I asked her to choose CPF Life she don't want cause lower payout.

 

[OngHuatHuat]

Yeah, that is still considered as one property under loan, another fully paid. Anyway, you shouldn't do something like that because interest expenses can offset rental income.

Yeah, from borrowed equity on my Sg terrace though... so I got the title deed this funny way...

 

[mummy1234]

Like that seems quite bo hua, your mum should be quite healthy.

What if she doesn't have anymore payout after 10 years? She will need to rely on you?

She has other FDs and shares to cash out and put more in CPF. Or she and my Brother can downgrade from their HDB maisonette. Or they can rent out and retire with us to JB?

Anyway, we r digressing from topic...

I Guess we need a balance of both CPF funds and cash...don't throw everything into CPF, diversify and have other liquid sources of income.

 

[BBCWatcher]

I Guess we need a balance of both CPF funds and cash...

Well, there's more available than CPF and cash (ordinary bank deposits I assume you mean), even if you have an extremely conservative posture.

 

[OngHuatHuat]

The best and most liquid income still active income in my opinion.

She has other FDs and shares to cash out and put more in CPF. Or she and my Brother can downgrade from their HDB maisonette. Or they can rent out and retire with us to JB?

Anyway, we r digressing from topic...

I Guess we need a balance of both CPF funds and cash...don't throw everything into CPF, diversify and have other liquid sources of income.

 

[mummy1234]

Well, there's more available than CPF and cash (ordinary bank deposits I assume you mean), even if you have an extremely conservative posture.

And REITs and ETFs and unit trusts and gold and of course property....I am quite conservative....

 

[starfish.starfish]

Don't compare to them... Some is CSB. Some earns high pay. Some is VC.
Anyway, just look at if you have achieved what you want.

I ish not csb....

 

[edwinttt1978]

I ish not csb....

I don’t know if I can be considered one too as I relentlessly transferred from OA to SA since younger days.

Recently, I stop doing so as the annual interest from SA alone, even without any new contributions, is enough to cover further increase in the Full Retirement Sum which currently stands at $171,000.