Single Premium using SRS

[dork32]

how much income per year will hit 11.5%?


Am I right to say it is taxable income of between $80,000 and $120,000 for the year?

yes you are right.

but if you are in the 7% range, you dont enjoy much tax savings. put srs for what?

but even if you put it in when you are 7%. it is quite unlikely that your salary will double before you retire. so you still can have savings.

 

[babyrobo]

yes you are right.

but if you are in the 7% range, you dont enjoy much tax savings. put srs for what?

but even if you put it in when you are 7%. it is quite unlikely that your salary will double before you retire. so you still can have savings.

can share what you use your srs for? i only open a srs account to "chope" the entry age so can withdraw at 62. my account only has $100 inside haha..

noob here (not familiar with too many financial intruments, have read some of shinny's thread) but hope to stretch my dollars a little. time flies and before we know maybe have to retire already or forced out of job

 

[dork32]

i dont like srs. The main reason is when i have money there, i am under pressure to use it. otherwise it is going to give me 0.05%.

because i am under pressure, many times, i bought things that are no good. my srs portfolio is ugly. i have put in 30k but i am down 2.5k even with the dividends. down 8%

my cash account is doing much better than that. i am never under pressure to buy with cash. my cash is earning a respectable 2+% in uob, ocbc, boc.

you still want to follow a loser like me? maybe i should learn more from other people here.

 

[OngHuatHuat]

Yes.
If you have rental income, it may have a chance to exceed 120 k. Then it is a even higher bracket.

how much income per year will hit 11.5%?


Am I right to say it is taxable income of between $80,000 and $120,000 for the year?

 

[babyrobo]

i dont like srs. The main reason is when i have money there, i am under pressure to use it. otherwise it is going to give me 0.05%.

because i am under pressure, many times, i bought things that are no good. my srs portfolio is ugly. i have put in 30k but i am down 2.5k even with the dividends. down 8%

my cash account is doing much better than that. i am never under pressure to buy with cash. my cash is earning a respectable 2+% in uob, ocbc, boc.

you still want to follow a loser like me? maybe i should learn more from other people here.

thank you for honestly sharing your lesson learnt with me. my $100 earning 0 interest for the last few years.. UOB CSO says not enough to credit me that few cents interest haha..

 

[beautyseek]

Dont want the little 0.05% interest....
That is why i am thinking of putting into the single premium with great eastern. At least got 1.88% for 5 yrs... i am also noob here so this seems to be quite simple and lazy way of still earning something lar

 

[JK1688]

Dont want the little 0.05% interest....
That is why i am thinking of putting into the single premium with great eastern. At least got 1.88% for 5 yrs... i am also noob here so this seems to be quite simple and lazy way of still earning something lar

if you wan it, i can help

Sent from using GAGT

 

[beautyseek]

if you wan it, i can help

Sent from using GAGT

I am still thinking. Also looking at the various retirement plans on the DIY insurance website (got 30% rebates on commissions there)...

If get those longer term ones, the IRR on these plans are obviously much higher... anyone knows which insurer is known to pay decent returns historically or can point me to where past bonus rates of insurer can be found? I always wonder what is basis of the stated projected non guaranteed rates and if these are realistic? NTUC SAIL looks decent at 4.28% IRR? (Stress again i am noob here.)

Any independent insurance experts (not agents) pls feel free to jump in and comment....

 

[JK1688]

I believe most retirement plans offered by insurer will be approx 4%++ as the lock in period is much longer than normal endowment plans.

Sent from using GAGT

 

[dork32]

I believe most retirement plans offered by insurer will be approx 4%++ as the lock in period is much longer than normal endowment plans.

Sent from using GAGT

more insurance plans project a 4% returns, but with the effects of deductions, what is left?

 

[henrylbh]

more insurance plans project a 4% returns, but with the effects of deductions, what is left?

None would dare to guarantee a min of 2.5% for 15 or 20 years commitment but never fail to zap you the moment you should fail to stick with them.