CPF SA

[Mysterio2020]

What is your spouse CPF figures?

Lonely peasant, nobody wants.

 

[Sambuca78]

Uncle 42 this year, yet to buy any property yet. Planning to get 1 within a year.

Should i transfer 44K from OA to SA? Or use this 44K to buy ETF / Reit instead?

Account Balances (As at 05/06/2020)
Ordinary Account (OA)$301,204.49
Special Account (SA)$137,021.92
Medisave Account (MA)$60,000.00

Thanks!

 

[Thoreldan]

Uncle 42 this year, yet to buy any property yet. Planning to get 1 within a year.

Should i transfer 44K from OA to SA? Or use this 44K to buy ETF / Reit instead?

Account Balances (As at 05/06/2020)
Ordinary Account (OA)$301,204.49
Special Account (SA)$137,021.92
Medisave Account (MA)$60,000.00

Thanks!

I would txf to sa to hit frs. 4% guaranteed compounding is pretty nice. The earlier the better to max frs imho

 

[SKenny]

But your OA is....?

My OA only has $1,179.00 k

And SA has $106,000.00.

Old uncle above 50, very emo nao.....

 

[highsulphur]

1m in OA????

Now your know. Champion is uncle Kenny

 

[lordofthering]

i got a question

if you are above 55, can you put $100,000 into OA and earn 4% per year and withdraw anytime if you are above RA?

 

[The_Davis]

you can still transfer OA to SA fill up $181k now

Agree with polar. Top up to 181k as you got limited years (2) to go till 55. Unless you want to do RTSU next year. Else just top up next jan then transfer from OA to SA.

 

[Sambuca78]

I would txf to sa to hit frs. 4% guaranteed compounding is pretty nice. The earlier the better to max frs imho

Transfer $44k to SA mean I would need to take a higher hse loan...

 

[The_Davis]

My OA only has $1,179.00 k

And SA has $106,000.00.

Old uncle above 50, very emo nao.....

1m in OA????

 

[The_Davis]

Transfer $44k to SA mean I would need to take a higher hse loan...

You want buy hdb or pte?

 

[elf108]

Cpf OA very fast earn back.
Just whack to max FRS lah.

 

[SKenny]

i got a question

if you are above 55, can you put $100,000 into OA and earn 4% per year and withdraw anytime if you are above RA?

A few points;
- OA earns 2.5% interest and not 4%.
- You can't top up your OA with $100k at one shot unless you are returning your housing loans/investments. The maximum is $37.7k per year.
- When you are above 55, you can withdraw upto your entire OA and SA, assuming you have set aside FRS (or BHS with the appropriate pledge) in your RA. Yes, you can withdraw any time you want.

 

[iceblendedchoc]

Uncle 42 this year, yet to buy any property yet. Planning to get 1 within a year.

Should i transfer 44K from OA to SA? Or use this 44K to buy ETF / Reit instead?

Account Balances (As at 05/06/2020)
Ordinary Account (OA)$301,204.49
Special Account (SA)$137,021.92
Medisave Account (MA)$60,000.00

Thanks!

It really depend on your overall financial situation

Pricing of the house you want to buy

How you want to finance the house

If you work these out and find that yes you can spare the money, go ahead and make the transfer from OA to SA

Also , if you are in those tax bracket that because of a $7k cash top up to your cpf sa will drop you a couple of thousands in tax, you can do that too.

 

[Sambuca78]

You want buy hdb or pte?

Hasn't decide, nowadays 4rm resales smelly also cost ard 500k+, also looking at 2/3rm resales EC / condo but dunno can afford or not.

 

[Gitaro]

i got a question

if you are above 55, can you put $100,000 into OA and earn 4% per year and withdraw anytime if you are above RA?

Cannot if your contribution is not from your employment.

You can beat the system by making voluntary housing repayment if you have earlier used your OA to pay for your house.

 

[Gitaro]

A few points;
- OA earns 2.5% interest and not 4%.
- You can't top up your OA with $100k at one shot unless you are returning your housing loans/investments. Yes correct The maximum is $37.7k per year. (No. This applies to your contribution via ordinary wage. Voluntary refund can be made up to the full sum plus accrued interests)
- When you are above 55, you can withdraw upto your entire OA and SA, assuming you have set aside FRS (or BHS with the appropriate pledge) in your RA. Yes, you can withdraw any time you want. yes correct

My comments in RED.

 

[mp4005 help]

Uncle 42 this year, yet to buy any property yet. Planning to get 1 within a year.

Should i transfer 44K from OA to SA? Or use this 44K to buy ETF / Reit instead?

Account Balances (As at 05/06/2020)
Ordinary Account (OA)$301,204.49
Special Account (SA)$137,021.92
Medisave Account (MA)$60,000.00

Thanks!

if me, i will top up using $7k cash to SA yearly to save some money on income tax which i am sure is more than 4% for you.

 

[ocs_woodlands]

discuss real money in edmw will have lots of "noise" one... wont be able to figure out what's rubbish, what's gem....

better go money mind

 

[popdod]

Ah Lim ish right.
see all the happy edmwers in this thread.

 

[lordofthering]

i am ready to top up 200k to my SA so that after 65 I can receive FRS for my retirement.

But if I top up 400k instead of 200k, I will not be able to withdraw the extra 200k on my 55th birthday?