Discussn CPF : Anyone alredy reached ERS ($450k) or topping up FRS to ERS ?

[Jeremy1]

i dunno who is Mr Loo

 

[cosmothecat]

what's the strategy if I do not want to leave any amount for anyone and want to finish every cent i have before I die?

When you feel almost like passing on, hoot all your money on Toto tickets

 

[Dividends]

Faster go and pop a kid

Maybe in my next life, it's too late now, at least in my opinion.

 

[hachi]

what's the strategy if I do not want to leave any amount for anyone and want to finish every cent i have before I die?

Hard... But some alr spend finish and need to work when they are old and weak.

 

[hachi]

When you feel almost like passing on, hoot all your money on Toto tickets

Whats the point... If tio can leave with a S smile?

 

[inmyopinion]

what's the strategy if I do not want to leave any amount for anyone and want to finish every cent i have before I die?

(1):
Obtain another citizenship / Give up citizenship. Then withdraw all CPF money.

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(2):
Like some who pledge their property, commit only BRS, instead of FRS.
Whatever amount in OA, you can spend/draw down slowly.


Assume you have $500K in CPF after setting aside BRS/FRS

CPF OA is 2.5%. Risk free. Assume u don't invest.

You slowly draw down from 55 yo to 70 yo (15 yrs)

55 yo to 70 yo: Monthly is around S$3,327. It's RM 11K (today's exchange rate)

65 yo or 70 yo till u RIP: You start getting monthly payout till you RIP from CPF Life (Basic plan)

Source

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(3):

For those who want to top up RA but don't want to top up so much.
And since CPF removed SA (4%), you can use below method to maximize & earn 4% interest in RA and can withdraw out before CPF Life payout.

For those turning 55 yo in 2024:
Top up 40K to RA. Then u withdraw 20%. The amount is the same as you don't do any top up.
The 40K earns 4% interest for 10 yrs.

Include those turning 55 yo in 2025:

Source

 

[KnyghtRyder]

what's the strategy if I do not want to leave any amount for anyone and want to finish every cent i have before I die?

Renounce citizenship.

 

[RSKeisuke]

(1):
Obtain another citizenship / Give up citizenship. Then withdraw all CPF money.

-------------------------------------------------------------------------------------------------------------------------------------------------

(2):
Like some who pledge their property, commit only BRS, instead of FRS.
Whatever amount in OA, you can spend/draw down slowly.


Assume you have $500K in CPF after setting aside BRS/FRS

CPF OA is 2.5%. Risk free. Assume u don't invest.

You slowly draw down from 55 yo to 70 yo (15 yrs)

55 yo to 70 yo: Monthly is around S$3,327. It's RM 11K (today's exchange rate)

65 yo or 70 yo till u RIP: You start getting monthly payout till you RIP from CPF Life (Basic plan)

Source

-------------------------------------------------------------------------------------------------------------------------------------------------

(3):

For those who want to top up RA but don't want to top up so much.
And since CPF removed SA (4%), you can use below method to maximize & earn 4% interest in RA and can withdraw out before CPF Life payout.

For those turning 55 yo in 2024:
Top up 40K to RA. Then u withdraw 20%. The amount is the same as you don't do any top up.
The 40K earns 4% interest for 10 yrs.

Include those turning 55 yo in 2025:

Source

I thought top up to RA is never reversible? How to withdraw out from RA?

edit: ok found it on CPF website
https://www.cpf.gov.sg/member/retir...withdrawal-of-cpf-savings-for-property-owners

 

[inmyopinion]

I thought top up to RA is never reversible? How to withdraw out from RA?

edit: ok found it on CPF website
https://www.cpf.gov.sg/member/retir...withdrawal-of-cpf-savings-for-property-owners

https://www.cpf.gov.sg/service/article/how-much-cpf-savings-can-i-withdraw-from-age-65
How much CPF savings can I withdraw from age 65?

 

[~sabaisabai~]

oh but i am not interested to watch

 

[kyang69]

It really depends on individual circumstances.

For those with dependents, topping up can provide assurance that, in the unfortunate event of something happening, the funds will go to their loved ones.

For single individuals, the need may be less pressing. In such cases, the funds would go to the nominated person, or, if none is appointed, be passed on to the next-of-kin according to established procedures.

A common concern is the fear of not having enough money in retirement. My view is that if one maintains a simpler lifestyle with moderate expenses, a very high monthly payout may not always be necessary. By age 65, many individuals may also have personal savings or even some employment income to supplement their retirement needs.

That said, I do share some reservations about CPF funds being locked in. I see it as more of a complementary income, thus prefer to have more disposable income rather than have most of my money locked in CPF.

 

[Jeremy1]

oh but i am not interested to watch

Just watch for leisure only but no need to follow their saying

 

[~sabaisabai~]

Just watch for leisure only but no need to follow their saying

mlmlwml
not interested
if got time, i rather watch stock market

 

[Jeremy1]

mlmlwml
not interested
if got time, i rather watch stock market

Stock market no need to always watch unless you're trading.

Follow ML in value investing

 

[~sabaisabai~]

Stock market no need to always watch unless you're trading.

Follow ML in value investing

Also not keen. Lol

 

[Jeremy1]

Also not keen. Lol

You must learned if you wanted to retire early

 

[eAtNeAt]

Wah lao eh. You all hit FRS at age 40 and asking whether to hit ERS of $450,000!!! And then complain about $4-5 wanton mee? Please lah... That's really hypocritical making me angry. You deserved $450,000 CPF and the hawkers don't deserve the $4-5 wanton mee. if only this forum not issuing points for vulgarity...

Salute you for thinking this way.
Moi also think hawkers deserve more.
But garmen keep indirectly depress their income.

 

[coyote]

Salute you for thinking this way.
Moi also think hawkers deserve more.
But garmen keep indirectly depress their income.

Well, it's mostly the consumers... I'm starting to understand what one minister said, “I always think that if you’re prepared to pay S$18 or S$20 for a pasta, why are you not prepared to pay S$5 for wanton mee?

 

[kitsura]

When you feel almost like passing on, hoot all your money on Toto tickets

How many k did you hoot?

 

[~sabaisabai~]

You must learned if you wanted to retire early

I know liao
I don't follow the influencer
You go watch la. I don't need. Thanks.