How do you plan to grow your nest egg ?? :)

[markfch]

Sorry small timer like me only thinks in terms of small sums. Here it goes.


I'm trying to find out how to make use of the CPF top-up scheme to reduce dw & mine income tax. Heard that the max CPF top-up per annum is $7K per a/c. Anyone knows any pitfalls for doing this (besides the money being stuck in CPF indefinitely that is)? Thanks.

Come to think of it, I'm slightly :offtopic: here. See, told you I'm small timer.

[mwchua]

So far not doing much loh....maybe I am too cynical of bank's tricks of selling UTs etc....so can't bring myself of buying those products.


Direct investment into stocks- not enough time to monitor leh....so end up NATO loh

Using CPF top up to reduce income tax liability - hmm...don't know leh, only know of SRS scheme with it's tax reduction benefits. For me personally, not that mich inclined towards locking more monies into CPF. Maybe by the time I am at retirement age, the withdrawal age willl be raised to 90 years !!

Actually just hope that my girl can study hard & get into local uni....afterwhich I will downgrade to a studio apt....

Heehee...not very ambitious ho...Like that forever will eat at hawker centre lah

[verykiasu2010]

for those who are thinking of sending the kids to the US for uni studies, it may be a good time to look into buying some ppty in the US now, it has become very very cheap since the banking crisis…and after the kids have graduated, can still keep to stay if they work in the US, or sell then after the capital appreciation…US$ now is about 1.35 ??

[hquek]

markfch:

I'm trying to find out how to make use of the CPF top-up scheme to reduce dw & mine income tax. Heard that the max CPF top-up per annum is $7K per a/c. Anyone knows any pitfalls for doing this (besides the money being stuck in CPF indefinitely that is)? Thanks.

U can go to AXS machine to do CPF top up (can't recall exacts) and pay via nets card. Don't have to do all one shot, as long as within the year. There was a time period when I gave my mum her monthly allowance via CPF top up (cos she didn't need the money mah) - and got my wee bit tax deduction.

At year end, I think (must check this hor) that you can either submit this in your tax returns or maybe it's auto. but there will be tat 7K (or actual amount - whichever is lesser) deducted.

Another way now is to donate to charity. I think it's like 2x or 2.5x the amount donated that is deducted. So every dollar donated to a 'participating' charity will net you double the deduction from taxes. Note that this don't apply to overseas charities and non-approved institutions.

[dunnoleh]

verykiasu2010:

for those who are thinking of sending the kids to the US for uni studies, it may be a good time to look into buying some ppty in the US now, it has become very very cheap since the banking crisis.....and after the kids have graduated, can still keep to stay if they work in the US, or sell then after the capital appreciation.....US$ now is about 1.35 ??

heh heh...

how to know when is the next capital appreciation scheduled in the US?

better check first,
see if it will fall within the lifetime of our children,
or grand children,
or great grand children,
or.... :?

[MMM]

verykiasu2010:

for those who are thinking of sending the kids to the US for uni studies, it may be a good time to look into buying some ppty in the US now, it has become very very cheap since the banking crisis.....and after the kids have graduated, can still keep to stay if they work in the US, or sell then after the capital appreciation.....US$ now is about 1.35 ??

But ... issue is US is very big. Which place to buy :?

[markfch]

MMM:

verykiasu2010:

for those who are thinking of sending the kids to the US for uni studies, it may be a good time to look into buying some ppty in the US now, it has become very very cheap since the banking crisis.....and after the kids have graduated, can still keep to stay if they work in the US, or sell then after the capital appreciation.....US$ now is about 1.35 ??

But ... issue is US is very big. Which place to buy :?

yalor, afterwards I buy boston but son end up in berkeley how? :rotflmao:

[MMM]

markfch:

But ... issue is US is very big. Which place to buy :?

yalor, afterwards I buy boston but son end up in berkeley how? :rotflmao:[/quote]

Yah I was thinking of that too. In Boston, got MIT and Harvard... Scarly go Princeton???? Then how????

[HyperKiasu]

MMM:

markfch:

But ... issue is US is very big. Which place to buy :?

yalor, afterwards I buy boston but son end up in berkeley how? :rotflmao:

aiyah, buy all of the Boston, Berkeley, Princeton, Stamford, Harvard.Cornel, UIUC......lah....

[markfch]

MMM:

markfch:

yalor, afterwards I buy boston but son end up in berkeley how? :rotflmao:

Yah I was thinking of that too. In Boston, got MIT and Harvard... Scarly go Princeton???? Then how????

Yeah, we parents can certainly dream, can't we?

But latest ranking puts cambridge as no. 1 uni leh, how? keke