How retiree in Singapore saved over $1.6m in her CPF

[mp4005 help]

if she has $1.6m in CPF , cash savings should be alot higher than CPF .

a decent ratio , 3 times in cash to CPF.

if I have $500k in cpf , I like to have $1.5m in cash.

 

[qcy888]

She is Ashley Wu?

 

[qcy888]

 

[qcy888]

https://illumineadvisory.com/trends-&-insights/f/how-retiree-in-singapore-saved-over-16m-in-her-cpf
Full article on the above link

"Postings in this website/blog have not been reviewed by the Monetary Authority of Singapore."

 

[UptheToon]

Hahah. No wonder it's 160th.

 

[highsulphur]

Cpf threads always attract salty people

 

[Shion]

only boomers get to enjoy these

 

[nujiln]

67 yo with 1.2mil cpf can do what???!!!

Want to get gigolo also later heart attack...want to travel also tire easily...want to eat also got health problem...end up mostly rest at home....better enjoy when u young lah....aiyoh..wat is this life....

What makes you think she didn't enjoy her life when she was younger.
She is obviously in no urgent need of this money, since she can still afford to top up $37k every year as a retiree. How many can do the same?

 

[highsulphur]

What makes you think she didn't enjoy her life when she was younger.
She is obviously in no urgent need of this money, since she can still afford to top up $37k every year as a retiree. How many can do the same?

People here are just salty

 

[nujiln]

People here are just salty

Some people here have the perception that putting money into CPF is mutually exclusive with investing or enjoying life, when in reality there are affluent people out there who do all 3 at the same time. It's just that it's pointless to feature such people in an ST article if it doesn't speak for the Average Joe's circumstances

 

[OrLengJuz]

Did ho jinx just check her CPF?

 

[kangzhengxing]

agreed with the yearly $37740 contribution and refund home loan portion
caveat is earning more than $6K and discipline in saving money

 

[blahblahsheep]

my friend ah gong last time buy alot of shop house.
now he collect rental every month, smelly also got 10k everymonth...
open a shop selling things that hardly earn any money..but he say pass time niah...
he say heng his ah gong smart....

 

[iceblendedchoc]

A 67-year-old retiree holds a record of sorts that most of us would yearn for - she has more than $1.2 million in her Ordinary Account (OA) of the Central Provident Fund (CPF).

If that's not impressive enough, she has another $400,000 in her Retirement Account and over $50,000 in her MediSave account.

Please subscribe or log in to continue reading the full article.
https://www.straitstimes.com/business/invest/how-retiree-saved-over-16m-in-her-cpf

it is one thing to make the best of it since the money has to stay there in CPF for many years before 55 and 62 years old, by topping up for income tax rebate but entirely a different (dumb)story to top up when she is a retiree which i assume means no income tax. If she is smarter, she would have more in RA and not OA, given her age, which i assume , she is risk averse.

 

[JLee88]

Sadly, people still believe cpf is yr own money.

 

[lifeafter41]

it is one thing to make the best of it since the money has to stay there in CPF for many years before 55 and 62 years old, by topping up for income tax rebate but entirely a different (dumb)story to top up when she is a retiree which i assume means no income tax. If she is smarter, she would have more in RA and not OA, given her age, which i assume , she is risk averse.

RA is limit by ERS……..

 

[orwell76]

members with 1 million balance technically no need subscribe to CPF Life scheme the interest is more than FRS monthly disbursement

 

[Dividends]

She's contributing $37,740 per year, she must have a strong financial standing outside of CPF as well. You guys are assuming she has nothing apart from CPF. Maybe she's enjoying life adequately, you don't need to buy conti car or splurge on branded stuff to enjoy life.

 

[standarture]

Haha this is exactly what no-lifers will end up. Just enjoy looking at bank account and CPF but didn't enjoy in life. Many edwmers here are on track to this.

 

[archon75@]

Plenty of them in boomer generation

Waiting for inflation to wipe up the hard save $$$