Pay back CPF or HDB first?

[henrylbh]

I didn't want to compare other sources of income as I wanted to do an apple to apple. BRS+SA or FRS

Something like this can?

 

[GeraldineT]

Wah. I am so confuse by the conversation now. Haha
Side track, if I intend to trf the amount from OA to SA is there a difference if I trf now or trf trf before month end?

 

[Mecisteus]

The kids and grandkids are still going to inherit tons of wealth. That's never going to be a problem, based on your description anyway. But income smoothing -- let's call it what it is, having fun, enjoying life -- is going to be tougher without a reasonable dose of (solid value) longevity insurance.

The way I understand, I notice you like to focus and put so much emphasis on a longevity insurance.

Is this ideal? I don't think so.

Remember, if you don't win, someone else will. So it is never a good idea to put too much money into any insurances. Moderation is good.

By the way, your kids and grandkids must be very fortunate to have a pa/grandpa like you.

 

[henrylbh]

Wah. I am so confuse by the conversation now. Haha
Side track, if I intend to trf the amount from OA to SA is there a difference if I trf now or trf trf before month end?

If I remember correctly, no difference.

 

[SBC]

If I remember correctly, no difference.

If you are working, transfer OA to SA after the credit from coy.

 

[Mecisteus]

The way I understand, I notice you like to focus and put so much emphasis on a longevity insurance.

Is this ideal? I don't think so.

Remember, if you don't win, someone else will. So it is never a good idea to put too much money into any insurances. Moderation is good.

By the way, your kids and grandkids must be very fortunate to have a pa/grandpa like you.

OK now I understand why.

https://forums.hardwarezone.com.sg/114815071-post254.html

 

[henrylbh]

The way I understand, I notice you like to focus and put so much emphasis on a longevity insurance.

Is this ideal? I don't think so.

Remember, if you don't win, someone else will. So it is never a good idea to put too much money into any insurances. Moderation is good.

By the way, your kids and grandkids must be very fortunate to have a pa/grandpa like you.

I guess that with the CPF Life longevity Insurance - less than half will gain and more than half will lose with the balance in the pool perpetually with more in the initial years

 

[henrylbh]

If you are working, transfer OA to SA after the credit from coy.

Agree. That credit in the month earns no interest in OA till the next month.

 

[hwmook]

The way I understand, I notice you like to focus and put so much emphasis on a longevity insurance.

Is this ideal? I don't think so.

Remember, if you don't win, someone else will. So it is never a good idea to put too much money into any insurances. Moderation is good.

By the way, your kids and grandkids must be very fortunate to have a pa/grandpa like you.

It depend on your life experience. I have never personally witness any of my relatives live to 80+ so longevity is probably a far fetched idea for me. I will wait until 55 before I decide so in the meantime no top up or OA transfer for me. I invest my OA and cash for a returns >4%.

 

[GeraldineT]

If you are working, transfer OA to SA after the credit from coy.

sorry what is coy?

 

[Tiger9119]

sorry what is coy?

I think coy = company.

 

[Toni90]

I took BBCW numbers without checking which plan its for, so you are right, its not a balanced comparison. I just used the CPF Life calculator for a male born on 7 Jun with 85500 and 171000 respectively for payout at 65.

Average of basic payout for 85500 is 708 versus average of basic payout for 171000 is 1297 for a difference of 589. 85500 at 4% interest for 10 years is 126560 and this will give $421 per month. The difference is $168 per month and I will still choose to forego $168 per month to keep my 126k

You may compare the money left if u die early too.

 

[angtc11]

Something like this can?

I think this is an optimized way of 'playing the cpf and cpf life game'. Your situation is similar to mine and my plans are to do exactly the same

 

[henrylbh]

I think this is an optimized way of 'playing the cpf and cpf life game'. Your situation is similar to mine and my plans are to do exactly the same

that's not my plan. I put in pic what I think you plan to do for the benefit of others who's trying to figure out what talking you.

 

[maple96]

that's not my plan. I put in pic what I think you plan to do for the benefit of others who's trying to figure out what talking you.

then what is your plan?

 

[angtc11]

that's not my plan. I put in pic what I think you plan to do for the benefit of others who's trying to figure out what talking you.

No wonder it is similar, lol.

 

[angtc11]

I cannot hit BRS, but at 65 I will withdraw 20% and start payout, then put the money in another "portfolio" with almost guaranteed more than 4% return, then can play with various CPF balances freely, still can achieve more mthly payout!

At 55 the cpf balances in first SA then OA will be transfered to RA. If you don't have BRS at 55,i don't think you can withdraw anything at 65 since everything will be locked in RA?

 

[henrylbh]

At 55 the cpf balances in first SA then OA will be transfered to RA. If you don't have BRS at 55,i don't think you can withdraw anything at 65 since everything will be locked in RA?

This illustration shows that that those with as low as 20k in RA can still make up to 20% lump sum withdrawal from age 65.

 

[angtc11]

This illustration shows that that those with as low as 20k in RA can still make up to 20% lump sum withdrawal from age 65.

There is no illustration embedded in your post but I will take your word for it. Learnt something new about cpf again.

 

[cscs3]

Use this

https://www.facebook.com/70638270922/posts/10156120352215923/