How retiree in Singapore saved over $1.6m in her CPF

[Angmoh_TuaKi]

To have 1.6m in CPF is impressive.
To have 1.2m in OA is foolish.
To have 15k in SA is pathetic.

1.2m in OA gives her 30k pa
1.2m in SA can give her 48k pa. Heck, you don't even need 1.2m in SA. Just 750k in SA will give 30k.
The other 450k go buy DBS bonds giving 4.75% pa. Will give her an extra 21k.

in conclusion, she is losing 18k - 21k EVERY year because of the poor allocation between hwr CPF accounts.

Her money that is locked in CPF for 30 years, Govt / CPF board would have already tripled or quadrupled her capital, but they only give her 2.5% compounded interest. The rest govt gobbled up. The 30 year opportunity cost is enormous. U throw your CPF capital to any reputable fund manager also can get higher Return on Capital. U let CPF manage your funds, you not only see meager ROC, you may not even get Return of your capital - either GIC or temasek lost it all or change policy.

 

[tank_t]

Her age no bto to buy. Must be silver serpent can save so much.

the good days are over, when i 67 probably still have a housing loan.

 

[Laoyeh]

Har? Not one lump take out once hit min sum????


That’s pretty csb

Can take out one lump sum meh???

 

[ramlee]

whats the point having 1.6mil at 67yo

cant enjoy most things liao

Maybe she can steel call marnee boys

 

[inmyopinion]

She should start learn how to spend the money

 

[TANKOKBENG]

So many stupid rich sinkies.

No wonder scammers around the world keep targeting sinkies.

 

[archon75@]

Knn.
This Merdeka gen want to brag about money is it?
How come already 67 years old still bragging about money in CPF?

Take out and spent lah. Bragging for what?

守财奴another proud evolution of coolie genes

 

[buttbERry]

satki 1.6mil

 

[KnyghtRyder]

1.6mil look impressive but once u discover it's only for appearance sake and you can't use it like a snap of a finger, it's worthless!

She 67 liao.. she can withdraw her OA and SA any time.. so what snap of finger you want . ?

 

[KnyghtRyder]

67 years old still has OA....i thought no more.....only RA.

Shows how many people still clueless about CPF..

 

[KnyghtRyder]

BRS got 1.6mil withdrawable in one-off? Or just pitiful small sum of monthly interest payment?

What BRS.. she ERS leh.. you missed the part where her RA balance is >ERS.

 

[highsulphur]

Shows how many people still clueless about CPF..

the level of ignorance at this age is baffling

 

[KnyghtRyder]

It's a ponzi.

She can only withdraw if there is enough fund flowing into CPF from other younger gen or from new PRs.

Suddenly become lim kopi thread.

 

[KnyghtRyder]

55 years old can take out one shot already what. Only need to leave FRS/ERS insai until 65.

Those complaining must be contributing damn little to CPF or wipe out OA to pay for housing. This type blame who?

They will blame everyone but themselves.. scared to lose.. but too scared to win also.

 

[avviicc]

this type is the day she uplorry, she will look at her CPF statement with still alot of $$$ inside, smiling looking at her statement and the breathe for the same time and uplorry. Then her children/govt if no children will be the last one laughing out loud..

Work so hard and dun want to enjoy life but enjoy seeing the $$$ in the CPF statement

hai..really live for nothing.. 白活了。

 

[inmyopinion]

Her OA = 1.2 mil
Her SA = now building up to 15K (because moved to form RA)
Her RA = 400K

She intends to draw down from RA when she hits 70.


At 70, assuming she doesn’t even touch her OA.

Interest earned per month + monthly draw down from RA = a lot of money to spend.

 

[KnyghtRyder]

She has 1.2m in her OA but can't take out and use right?
Can transfer from OA to RA?

She can take out the 1.2mil anytime.. she already past 55.

 

[KnyghtRyder]

She can take out any time she wants. But she still pump in $37k every year

For the extra 30k of interest..

 

[Wolfgang]

i hope she die at 70 yrs old.

 

[KnyghtRyder]

To have 1.6m in CPF is impressive.
To have 1.2m in OA is foolish.
To have 15k in SA is pathetic.

1.2m in OA gives her 30k pa
1.2m in SA can give her 48k pa. Heck, you don't even need 1.2m in SA. Just 750k in SA will give 30k.
The other 450k go buy DBS bonds giving 4.75% pa. Will give her an extra 21k.

in conclusion, she is losing 18k - 21k EVERY year because of the poor allocation between hwr CPF accounts.

But she has no choice.. she already ERS liao.. I don't think they let you do OA to SA transfer.. otherwise it defeats the purpose of drawdown SA then OA rule.