HDB Question

[cleverman]

Should I fully pay up my BTO now or slowly pay it finish.

I left around 90K, but both wife and me have around 40K each in our CPF account.

Will keeping it in CPF earn more interest for me or clear finish my loans then slowly build up my CPF be better...

depends, you using HDB Loan or Bank loan now?

 

[purplewave]

Any reason for doing so?

not to miss any investment opportunities

 

[1982-1994]

Use $20K OA to invest some stocks with at least 6% dividend,not only to cover 2.6% HDB interest and 2.5% annual interest but also to tide you over retrenchment

 

[KnyghtRyder]

I intend to upgrade if there is a chance...

Second property or sell and buy? If second property then you would qualify for a bigger loan if you clear your current.

If sell and buy then again probably no point.

 

[Balian]

Wanted to upgrade if there is a chance...

not much point to clear loan

 

[audiovideo]

No difference, just focus on working

 

[jericho75]

if not selling, no point paying off

compare opp costs.
cpf loan is 2.6%
interest on cash is 3 to 4%

as long as i can get better returns more than 2.6%, why will i use cash to pay off?

if i use 90k pay right now. i lose the interest of 4% on the 90k? just to avoid paying 2.6% interest?

doesnt make sense right brother

where u get interest on cash 3-4%?

 

[henryscy]

CPF is not your money.

 

[AnTzX_]

Good idea lei...

tats wat i m doing actually... i still got like ard 100over k left le... wanna do nx lumpsum payment soon

 

[Nemesis_lane123]

Should I fully pay up my BTO now or slowly pay it finish.

I left around 90K, but both wife and me have around 40K each in our CPF account.

Will keeping it in CPF earn more interest for me or clear finish my loans then slowly build up my CPF be better...

Bro recently nearing 40. More of my frens became retrenched. I myself division this year May 25 looking to close down and my boss told me the 3 of us in our team better start looking out.

Thankfully our hse almost fully paid n we have more than FRS n BHS in our acct.

I told my wife I am finding job now but likely in 2 years we try fr BTO again and unlock 700k frm our current place as buffer fr any job losses down the road.

I advise you to be as debt free as possible as the market is really changing fast with AI , RBA and more foreigners come in. You see the budget for so much support for retrenchment and employment gir reason one.

Thos with condo even worst. Imagine have to wait 18 months to buy hdb. 30 months then can apply BTO. Nv include building timeline

Advise to clear debt asap.

 

[Justanewbie]

Personal preference. No harm waiting out if no hurry but want to clear also can.

 

[dry_county]

Sengkang 4 room flat paid in full in 2008. Now worth $600,000

So you are currently 52 years old?

 

[coyote]

Should I fully pay up my BTO now or slowly pay it finish.

I left around 90K, but both wife and me have around 40K each in our CPF account.

Will keeping it in CPF earn more interest for me or clear finish my loans then slowly build up my CPF be better...

Upgrade to private la... There's no benefits regardless paying off or keeping in CPF. Cash out your BTO and use the $500,000 profit to upgrade to a condo at the expense of the PR who bought from you because he cannot buy BTO.

 

[dry_county]

I prefer to be debt free….
Then can sleep well at night.

 

[MungoDungo]

See which interest higher.

 

[EJB]

Bro recently nearing 40. More of my frens became retrenched. I myself division this year May 25 looking to close down and my boss told me the 3 of us in our team better start looking out.

Thankfully our hse almost fully paid n we have more than FRS n BHS in our acct.

I told my wife I am finding job now but likely in 2 years we try fr BTO again and unlock 700k frm our current place as buffer fr any job losses down the road.

I advise you to be as debt free as possible as the market is really changing fast with AI , RBA and more foreigners come in. You see the budget for so much support for retrenchment and employment gir reason one.

Thos with condo even worst. Imagine have to wait 18 months to buy hdb. 30 months then can apply BTO. Nv include building timeline

Advise to clear debt asap.

This...

Debt free sibeh song one.

 

[RandomPancake]

Minimally keep at least 20k in OA, they give more interest than your loan

 

[Evil_Boss]

Accumulate another $10k then pay off in full. No more debt

Still have. You now owe CPF accrued interest

 

[mgx-alander]

Jin satki loan free at 35 yo

Bbfa me just started at 35 and has 500k debt

 

[iam7377]

Sengkang 4 room flat paid in full in 2008. Now worth $600,000

Wow, is it BTO or Resale Flat?