Cash on hand

[momoeagle]

I think bond is not a good idea because cpf is one of world safest bonds. Almost cannot scam because you cannot withdraw unless you fulfil some conditions. If you have outstanding mortgage, 1 is to repay your cpf usage for mortgage loan. You get 2.5% payout almost with little risk. Singapore savings bonds you need to put long term else they give you 0.85% per annum. I like equities a lot because in the world of inflation, what is better than to invest in the world greatest companies? Again this is high risk and you may suffer 50% paper lost so need to be able to stomach the losses

If high income already maxed out cpf mah. There's a cap of 37.74k annually I think.

Want to put in more also cannot.

 

[momoeagle]

If CPF is a bond, it’s a illiquid bond. Sure, it’s safe but excess cash pumped into cpf will have leakage not going into OA, which cannot be used for housing. If you later use the OA to fund your housing, the interest suck your future sales proceeds back into CPF.

Sure it has nice rates but there is a reason why. It’s pretty much a pit that will draw on your real liquidity unless you are already close to retirement.

Put $$ into parents CPF.

Can withdraw anytime and first 30k get 6%. Next 30k 5%.
Where else can find?

But it depends on your relationship with your parents of course.

 

[halfnode]

If high income already maxed out cpf mah. There's a cap of 37.74k annually I think.

Want to put in more also cannot.

Only for the all 3 accounts top up. If doing only SA for frs, you can one shot put in the full frs in if you want.

 

[momoeagle]

Only for the all 3 accounts top up. If doing only SA for frs, you can one shot put in the full frs in if you want.

Oh, didn't know that. I will go check out.

Wanted to put in more for old parents.
Free 4% yield and paying out monthly already. So very worth.

 

[diminishin]

Oh, didn't know that. I will go check out.

Wanted to put in more for old parents.
Free 4% yield and paying out monthly already. So very worth.

I don't think you can top up SA after 55 years old. Only can top RA via RSTU

 

[momoeagle]

I don't think you can top up SA after 55 years old. Only can top RA via RSTU

ok la, still 4%

 

[diminishin]

ok la, still 4%

Yes 4% but RA cannot take out immediately. Not liquid

 

[halfnode]

If past age 65 then it becomes atm, especially now they use paynow

 

[diminishin]

If past age 65 then it becomes atm, especially now they use paynow

Yes can withdraw any amount that is left over in SA and OA that's left over after transferring into RA. I think most boomers don't have much left haha cos they don't believe in cpf

 

[momoeagle]

Yes can withdraw any amount that is left over in SA and OA that's left over after transferring into RA. I think most boomers don't have much left haha cos they don't believe in cpf

which then makes a lot of sense to put in because 6% for first 30k
and 5% for next 30k

and cpf just wants to keep paying out.

Parents above 70 btw

 

[diminishin]

which then makes a lot of sense to put in because 6% for first 30k
and 5% for next 30k

and cpf just wants to keep paying out.

Parents above 70 btw

Yes but if they are above 70 u can only top up their RA which you cannot withdraw like atm. You can't top up their SA or OA anymore. Once take out you can't put in to enjoy the extra interest

 

[diminishin]

which then makes a lot of sense to put in because 6% for first 30k
and 5% for next 30k

and cpf just wants to keep paying out.

Parents above 70 btw

The way to play cpf is you have to start early. If you have kids can top up their SA to the max and it will really grow to a considerably substantial amount when they turn adults. Also because their SA is maxed out, any contribution to their SA will flow to their OA making them grow OA at a much faster rate. When they turn 55, do SA shielding (assuming govt still allow this loophole) so the FRS amount to be transferred to RA will be taken from OA instead. After that, every year you enjoy 4% interest in your SA. Just withdraw the interest amount every year to keep it running, or withdraw like atm, it's all up to you.

If not rich, then can just top up just enough in order to get the extra 1%.

Tbh topping up cpf at old age doesn't really make much sense anymore. Cos you don't have the runway for it to grow much. Can make the elderly happy initially but once they realized the cpf money in RA cannot withdraw like atm they will Sian already lol

 

[momoeagle]

The way to play cpf is you have to start early. If you have kids can top up their SA to the max and it will really grow to a considerably substantial amount when they turn adults. Also because their SA is maxed out, any contribution to their SA will flow to their OA making them grow OA at a much faster rate. When they turn 55, do SA shielding (assuming govt still allow this loophole) so the FRS amount to be transferred to RA will be taken from OA instead. After that, every year you enjoy 4% interest in your SA. Just withdraw the interest amount every year to keep it running, or withdraw like atm, it's all up to you.

If not rich, then can just top up just enough in order to get the extra 1%.

Tbh topping up cpf at old age doesn't really make much sense anymore. Cos you don't have the runway for it to grow much. Can make the elderly happy initially but once they realized the cpf money in RA cannot withdraw like atm they will Sian already lol

Consider scenario ma
1) That cash don't need, quite a fair bit of cash lying around and the pile still growing.

2) Old people don't trust CPF because cannot take out and policies can change anytime. But for so old, new policies don't affect plus get monthly payouts. A 4% annual on the amount is better than any fixed deposit. It's no longer about the runway for the compounding but having a bit of the liquidity while enjoying 4% at least, and at the same time reduce income tax payable.

I did think of putting into children's CPF. But I considered that putting into theirs or mine or parents, still going to yield that min 4%. Difference is put into theirs, cannot take out for many many years, but put into parents, it's being paid out right now.

For each of my children instead, I got a life insurance when they were below a year old to cover them till 103 years old. They can surrender anytime when they are adults to get back the amount, while being covered at the same time.

 

[diminishin]

Consider scenario ma
1) That cash don't need, quite a fair bit of cash lying around and the pile still growing.

2) Old people don't trust CPF because cannot take out and policies can change anytime. But for so old, new policies don't affect plus get monthly payouts. A 4% annual on the amount is better than any fixed deposit. It's no longer about the runway for the compounding but having a bit of the liquidity while enjoying 4% at least, and at the same time reduce income tax payable.

I did think of putting into children's CPF. But I considered that putting into theirs or mine or parents, still going to yield that min 4%. Difference is put into theirs, cannot take out for many many years, but put into parents, it's being paid out right now.

For each of my children instead, I got a life insurance when they were below a year old to cover them till 103 years old. They can surrender anytime when they are adults to get back the amount, while being covered at the same time.

Oh your parents are not enrolled into cpf life? I suspect might not be since you mentioned that they are > 70 years old. If they are in cpf life, the interest earned in RA don't actually go to you, it goes to the pool where those who live longer will benefit... Lol

 

[momoeagle]

Oh your parents are not enrolled into cpf life? I suspect might not be since you mentioned that they are > 70 years old. If they are in cpf life, the interest earned in RA don't actually go to you, it goes to the pool where those who live longer will benefit... Lol

Don't think they are in CPF life. Old scheme is good.

You make perfect sense there.

 

[halfnode]

Oh your parents are not enrolled into cpf life? I suspect might not be since you mentioned that they are > 70 years old. If they are in cpf life, the interest earned in RA don't actually go to you, it goes to the pool where those who live longer will benefit... Lol

No what, the interests shows up inside the account and you can withdraw that. not like the interest isnt shown you end of every year.

 

[diminishin]

No what, the interests shows up inside the account and you can withdraw that. not like the interest isnt shown you end of every year.

You should read up on how cpf life works...

 

[halfnode]

You should read up on how cpf life works...

Doesnt the interest for the amount left in RA after joining cpf life go directly to them?

 

[wetdreamx]

Hearsay put into USDT bao jiak 10%, is that true?