CPF Accounts Value thread

[SBC]

My 311 Hougang nearer to interchange or yours?

I am advertising it for sale at 363k (3rm corner at 83sm move in condition with brand new toilets and rooms including dinner area airconditioned). Flat is vacant and early move in allowed

Saw your ads. Marketed by Wong & Chew.

 

[henrylbh]

Saw your ads. Marketed by Wong & Chew.

Valuer came Wed morning to view my place. How much you think would be the value? If below 343k, I agree with buyer to refund the otp fee.

 

[JuniorLion]

Anyone else has awesome CPF balances to share?

 

[SBC]

Valuer came Wed morning to view my place. How much you think would be the value? If below 343k, I agree with buyer to refund the otp fee.

That’s cluster is rather old. But it’s plus point is it’s recent HIP. Will probably walk to MRT if staying around that cluster.

Your Reno is not bad too.

320 to 340k sound like a fair range. Beyond 350k will depend on your luck?

You did not sign any exclusive with agent? Standard 1% comm?

 

[a4973]

Yes sir, good suggestion. Intend to try out with just a little 3 months before turning 55 to ensure that I did it right (like firing a tracer shot for night range).

i am turning 55 in 4Q19
i have got my POEMS account set up & linked to CPFIS OA & SA.
i would like to test the hack
should i just use 1k of SA & test how fast the full turn around time from SA > UT > SA?
any other suggestions how what i should test for?

 

[iMac]

i am turning 55 in 4Q19
i have got my POEMS account set up & linked to CPFIS OA & SA.
i would like to test the hack
should i just use 1k of SA & test how fast the full turn around time from SA > UT > SA?
any other suggestions how what i should test for?

Can try SSB?

 

[a4973]

Can try SSB?

huh? you mean use SA to buy SSB? is it even possible?

 

[BBCWatcher]

you mean use SA to buy SSB? is it even possible?

It is not. Starting next month, it will be possible to use Supplementary Retirement Scheme (SRS) funds to buy Singapore Savings Bonds.

You can use Special Account funds (or SRS funds, or cash) to buy other Singapore Government Securities directly at auction, but using SA funds is too expensive in the circumstances and too cumbersome.

Sure, you can test the hack with your chosen unit trust. If $1,000 is the minimum, that works. But now (January, 2019) or soon is much too early if your 55th birthday is toward the end of 2019.

 

[ELKYme]

Think the most important thing is that the test amount gets deducted from your SA account (confirm by looking at your CPF e-statement).

Take note of the transaction timeframe (date of transaction till SA deduction date).

Please post the results here so that I can follow your footsteps when it’s my turn.

Thank you.

i am turning 55 in 4Q19
i have got my POEMS account set up & linked to CPFIS OA & SA.
i would like to test the hack
should i just use 1k of SA & test how fast the full turn around time from SA > UT > SA?
any other suggestions how what i should test for?

 

[ELKYme]

Bro a4973,
Another thing, if you had never used your CPF funds for investment before, think you need to first complete the CPFIS self-awareness questionnaire (SAQ).

Login with your Singpass:
https://www.cpf.gov.sg/Members/Schemes/schemes/optimising-my-cpf/cpf-investment-schemes

 

[a4973]

Bro a4973,
Another thing, if you had never used your CPF funds for investment before, think you need to first complete the CPFIS self-awareness questionnaire (SAQ).

Login with your Singpass:
https://www.cpf.gov.sg/Members/Schemes/schemes/optimising-my-cpf/cpf-investment-schemes

done that already

 

[a4973]

It is not. Starting next month, it will be possible to use Supplementary Retirement Scheme (SRS) funds to buy Singapore Savings Bonds.

You can use Special Account funds (or SRS funds, or cash) to buy other Singapore Government Securities directly at auction, but using SA funds is too expensive in the circumstances and too cumbersome.

Sure, you can test the hack with your chosen unit trust. If $1,000 is the minimum, that works. But now (January, 2019) or soon is much too early if your 55th birthday is toward the end of 2019.

was thinking of testing the timelines.
so as long as i do a buy & sell + refund back to SA within 1 calendar month i only lose 1 month of SA 4% yes?
loss / gain on the UT side is understood.

 

[BBCWatcher]

was thinking of testing the timelines.
so as long as i do a buy & sell + refund back to SA within 1 calendar month i only lose 1 month of SA 4% yes?

Compounded, so the earlier you run this test, the bigger the loss. I'd be patient. You'll have plenty of time to run this test and to resolve any problems when you're closer to your 55th birthday.

When do run the test -- in September, for example -- then I'd kick off the test at the very beginning of the month so that you have plenty of time to wrap it up within the same month or even to troubleshoot and to re-run the whole test if you have to.

 

[a4973]

Compounded, so the earlier you run this test, the bigger the loss. I'd be patient. You'll have plenty of time to run this test and to resolve any problems when you're closer to your 55th birthday.

call me dense but i really dont understand this.
say i use $1k from SA to buy , sell & refund back to my SA account within the calendar month of Feb. what is the compounded loss of SA interest?
thanks

 

[dork32]

Compounded, so the earlier you run this test, the bigger the loss. I'd be patient. You'll have plenty of time to run this test and to resolve any problems when you're closer to your 55th birthday.

call me dense but i really dont understand this.
say i use $1k from SA to buy , sell & refund back to my SA account within the calendar month of Feb. what is the compounded loss of SA interest?
thanks

try to use this formula

interest - [(1 + 0.04/12)^n - 1] *1000
Eg if you lose 10 months of interest, n = 10. it is 33.83

but if there is no compound interest, you lose 10/12 * 0.04 * 1000 = 33.33

what is the moral of the story. the effects of compounding coffee is not enough to buy you a cup of coffee at the coffee shop. so why bother to calculate.

 

[henrylbh]

Compounded, so the earlier you run this test, the bigger the loss. I'd be patient. You'll have plenty of time to run this test and to resolve any problems when you're closer to your 55th birthday.

When do run the test -- in September, for example -- then I'd kick off the test at the very beginning of the month so that you have plenty of time to wrap it up within the same month or even to troubleshoot and to re-run the whole test if you have to.

If he completes the test within the month, at most he loses 1 month's interest on $1k and that is $3.33 only. There is no compound interest as far as CPF is concerned. Other cost incurred in the test is much more, assuming he buy and sell within the same month.

 

[a4973]

If he completes the test within the month, at most he loses 1 month's interest on $1k and that is $3.33 only. There is no compound interest as far as CPF is concerned. Other cost incurred in the test is much more, assuming he buy and sell within the same month.

POEMS UT is just based on NAV up or down only

 

[henrylbh]

Anyone else has awesome CPF balances to share?

Early this month had a refund to OA of 144,639.36 inclusive of accrued interest from selling my flat. They turned down my request to refund to my OA another principal amount used of $78,660 plus accrued interest

Last year, I had a refund of $110,875.84 from my father's RA to my OA.

 

[henrylbh]

POEMS UT is just based on NAV up or down only

No transaction cost or in buying and selling? No CDP cost? No CPF agent's cost?

 

[a4973]

No transaction cost or in buying and selling? No CDP cost? No CPF agent's cost?

nope just the NAV as far as POEMS is concerned
what's this about CDP , CPF agent's cost?

edit
i have searched the above fees & all i have found are that they are levied on CPFIS OA trades.
for my purpose i am using SA