Your Views on SRS

[mummy1234]

I only topped up SRS twice long ago but the investments didn't do well so I stopped.

Now I would rather top up S$7k to RSTU scheme for tax relief.

Anyway with WMCR, I don't have to pay much tax.

 

[andyhtc]

I recently used my SRS to buy DBS shares after looking at the miserable interest over the years. At least DBS can pay me minimum 3% dividends in the long term, on top of the capital gain as of today.

 

[limster]

I recently used my SRS to buy DBS shares after looking at the miserable interest over the years. At least DBS can pay me minimum 3% dividends in the long term, on top of the capital gain as of today.

I am using SRS for CCT and Singtel. Power of CD!

 

[SBC]

wah.. you/your wife must have been very productive

“You/your wife” got to be a AND Haha.

 

[SBC]

To me, at least 10-15% marginal tax rate before it becomes attractive.

My income tax bracket is unfortunately low at 7% after much income tax relief.

 

[TabascoSauce]

SRS might not be suitable for those who want to retire early (say..by 45).

why not? unless u plan to splurge your entire retirement fund before the age of 65?

 

[SBC]

I am treating SRS as another last-option emergency fund.

 

[iduncheckmail]

why not? unless u plan to splurge your entire retirement fund before the age of 65?

I think he meant the passive income generated, not splurge all

 

[rerear]

Can advise how to use SRS to buy sg stocks? Is it must use the same bank as your SRS account to buy the shares? ie if SRS with DBS but portfolio with SCB.

Does using SRS for SSB also better to apply only on the last day or actually doesn't matter?

 

[SBC]

Can advise how to use SRS to buy sg stocks? Is it must use the same bank as your SRS account to buy the shares? ie if SRS with DBS but portfolio with SCB.

Does using SRS for SSB also better to apply only on the last day or actually doesn't matter?

Need to link your security account with your SRS agent bank.

 

[Jazzbie]

I maxed it ever since I hit 11.5% bracket after all other reliefs. For me, SRS funds is still my money, tax paid out is never gonna be my money.

 

[SBC]

I maxed it ever since I hit 11.5% bracket after all other reliefs. For me, SRS funds is still my money, tax paid out is never gonna be my money.

Congrats! Good package for you.

 

[Guojing88]

I was contributing even at 7% marginal tax rate. If you don't need the money and will invest them anyway, might as well put in SRS.

 

[SBC]

I was contributing even at 7% marginal tax rate. If you don't need the money and will invest them anyway, might as well put in SRS.

Ya lor. Agree with you. I am also on 7% bracket.

 

[hypertrophy]

Is it advisable to buy annuities using srs?

 

[Layers]

Hi all,

Please share your views.

1. Do you believe in income-tax reduction scheme?
2. If yes, how much will you top-up your SRS per-year?
3. How will utilize your SRS fund to grow it further?
4. How many years since you had started this top up.
5. Accumulated SRS funds to-date.
6. What other income-tax reduction methods have you been practicing?

My response:
1. Yes
2. 8k to 12k depending on cash flow that year.
3. Mainly used it to buy local stocks.
4. About 15 years
5. About 100k
6. Top to parent’s CPF RA

neutral

but to me no worth the hassle. will be just like CPFIS. limited funds affect the flexibility of the portfolio

plus I invest oversea as well

Sent from Samsung SM-N950F using GAGT

 

[BBCWatcher]

Is it advisable to buy annuities using srs?

Generally not, mostly because CPF LIFE offers the best annuity deal in Singapore by far, and that's the one to buy first.

There's one exception I can think of: Manulife's fully SRS qualified life annuity, if/when you're trying to stretch out SRS withdrawals beyond the allowed 10 calendar year tax deferral time limit. If you have a particularly big SRS balance when the time comes (age 62 or later), Manulife might offer some useful tax-related help for part of your SRS assets.

 

[henrylbh]

Generally not, mostly because CPF LIFE offers the best annuity deal in Singapore by far, and that's the one to buy first.

There's one exception I can think of: Manulife's fully SRS qualified life annuity, if/when you're trying to stretch out SRS withdrawals beyond the allowed 10 calendar year tax deferral time limit. If you have a particularly big SRS balance when the time comes (age 62 or later), Manulife might offer some useful tax-related help for part of your SRS assets.

If he is completely dumb in investments, then your answer (for him) is beyond dumb

 

[hypertrophy]

If he is completely dumb in investments, then your answer (for him) is beyond dumb

Maybe you should offer your point of view instead of making useless remarks

 

[henrylbh]

Maybe you should offer your point of view instead of making useless remarks

The useless remark was not meant to response to your query.

But if you like to know ... annuity is definitely better than leaving the fund idle in srs earning 0.05% pa. If you really want to know whether it is advisable, you need to mention the alternative that you have in mind.