CPF SA

[reddevil0728]

If he used $100K from SA to invest in ILP/Unit Trust, and currently the ILP/UT is in RED ...value left about $50K.

Can he uses OA to top up SA for the $50K loss?

I think possible after he close out his investment to realise the loss.

 

[SkyNinja]

I like what you say. Even better, join the freegan group. You have no need for money, as long as you can accept the way they live. Their Lifestyle is a lifestyle full of abundance. They give until you say "enough already, i dun want liao. too much". That's how the freegan group is.

Anyway this kind of future value are incredibly stupid if you used it the wrong way.
Knowing is 1 thing. Using it correctly for the context and situation is another.

Check out this news

https://www.asiaone.com/lifestyle/its-easier-retire-early-singapore-you-think-says-freegan

 

[Keyite2021]

Oh i see. Makes sense with what u posted. I will need to check with him on mon then. Thanks!

 

[Value.Matrix]

Check out this news

https://www.asiaone.com/lifestyle/its-easier-retire-early-singapore-you-think-says-freegan

If you speak to him in person, you will know more. Thats just a glimpse of it.

 

[Nofear40]

Math is about the truth isn't it?

The HDB will be 0 in 99 years time..

How do you buy hdb when you already have a condo? hdb not under your name

 

[Keyite2021]

Following up - u are spot on. He had invested $20k using his SA. Thanks for solving the “mystery”.

 

[mopiko_boy]

If I have already hit the FRS of $186,000 in my SA, can the SA interest earned in 2021 be used to offset/cover the $6,000 increase for 2022 FRS (i.e. $192,000) in Jan 2022?

Just wondering, coz the 4% SA interest (i.e. $7,440) on $186,000 can already easily cover the yearly FRS increase, and if can cover, there seems no need to top up cash/OA to the new FRS yearly. Well, unless earned SA interest cannot be considered as 'contribution' in this way.

anyone can advise?

 

[luei74]

If I have already hit the FRS of $186,000 in my SA, can the SA interest earned in 2021 be used to offset/cover the $6,000 increase for 2022 FRS (i.e. $192,000) in Jan 2022?

Just wondering, coz the 4% SA interest (i.e. $7,440) on $186,000 can already easily cover the yearly FRS increase, and there seems no need to top up cash/OA to the new FRS yearly, well, unless earned SA interest cannot be considered as 'contribution' in this way.

anyone can advise?

Answer is yes. After you hit 186K beginning of 2021. Till the year end if you are still working, your SA will still be contributing along the year of 2021.

 

[mopiko_boy]

Answer is yes. After you hit 186K beginning of 2021. Till the year end if you are still working, your SA will still be contributing along the year of 2021.

thanks, but actually my question is whether the INTEREST earned for 2021 can be used to cover the FRS increase in Jan 2022.

Example:
1) 01 Jan 2021 - I hit 186k, SA maxed out. I quit my job=no further monthly contributions for 2021.
2) 31 Dec 2021 - SA interest for 2021 of 7k credited into SA. SA becomes 193k.
3) 01 Jan 2022 - FRS increases to 192k for 2022. Since my SA has 193k, is my SA already maxed out again? Can i still top up SA using cash/OA?

 

[zoneguard]

3) 01 Jan 2022 - FRS increases to 192k for 2022. Since my SA has 193k, is my SA already maxed out again? Can i still top up SA using cash/OA?

No. But you can VC to all 3 accounts subject to annual limit $37,740. MA allotment will flow to MA if MA hasn't reached BHS and to OA if MA already hit BHS.
SA allotment will still flow to SA regardless of FRS.

 

[endlssorrow]

Anyone here SA hit target min liao then take out Excess OA to invest before OA all transfer time SA?

 

[Value.Matrix]

Anyone here SA hit target min liao then take out Excess OA to invest before OA all transfer time SA?

Not able to understand you.

If SA hit FRS, OA cannot be transferred into SA.

If OA has above $20,000, any excess money above $20,000 can be invested.

 

[andyhtc]

I have already hit the top-up limit for my SA.

Hence, I just transferred cash to top up the SA of my family member after reading this thread and checking the effect of compounding interest.

A consistent 5% interest rate is hard to beat

I also plan to top up my Medisave to the maximum whenever possible (after the insurance policies cleaned out some) so that any further contribution will flow into SA.

 

[andyhtc]

How To Make Babies Millionaires In Singapore (Using CPF!)​

Your child can be a CPF millionaire too

by Loo Cheng Chuan December 18, 2020

To make baby millionaires, you first need quite a sum of money: S$64,350 to be exact for each baby at birth, to be contributed into their CPF SA.

https://dollarsandsense.sg/make-babies-millionaires-singapore-using-cpf/

 

[Nofear40]

I have already hit the top-up limit for my SA.

Hence, I just transferred cash to top up the SA of my family member after reading this thread and checking the effect of compounding interest.

A consistent 5% interest rate is hard to beat

I also plan to top up my Medisave to the maximum whenever possible (after the insurance policies cleaned out some) so that any further contribution will flow into SA.

I think if you max out your FRS and BHS, the monthly MA contribution flows to OA?

 

[andyhtc]

I think if you max out your FRS and BHS, the monthly MA contribution flows to OA?

Yes. MA will overflow into SA and OA. I want to top up and max out my MA so that it constantly overflows, since I can no longer top up SA. I have yet to try as my MA is currently maxed out.

 

[highsulphur]

I think if you max out your FRS and BHS, the monthly MA contribution flows to OA?

Yes. 10 char

 

[dork32]

Hence, I just transferred cash to top up the SA of my family member after reading this thread and checking the effect of compounding interest.

A consistent 5% interest rate is hard to beat

if you already have 60k in your cpf, additional top up earns you 4%

 

[RedsYWNA]

I think if you max out your FRS and BHS, the monthly MA contribution flows to OA?

Yes, govt dont want you to earn too much from SA and MA, so the monthly MA contribution overflows to OA.

Lucky compared to previously, we have more options to invest our CPF OA to beat 2.5%. I am using OA for housing loan, and excess OA are invested with robos.

 

[compro_1975]

After reading so much and well I plan to leave sg leaving my property in Sg to generate income while I enjoy overseas for my retirement. Is my following understand right?
If I have 186k now in SA and 63k in BHS, I do foresee to be working still till 2040, the year
interest will cover the increment and that every month contribution from work will flow from MA to OA while those that are for SA will be in SA where by come 30dec 21 my SA May be 192k? While MA is still cap at 63k? I can no longer do cash TOP up to reduce my taxes?