How do you plan to grow your nest egg ?? :)
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Ming, if the amount is not substantial why not top up your CPF instead to earn 4%
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Eagle-Ladybird:
Ming, if the amount is not substantial why not top up your CPF instead to earn 4%
What is the max $$ for such cpf top up? But alas must wait till 85 yo then can take out..... Don't know whether get to see it -
verykiasu2010:
What is the max $$ for such cpf top up? But alas must wait till 85 yo then can take out..... Don't know whether get to see it
My belief nowadays is don't put anymore money with the gahmen, may not get to see your money again. Try to take it out and invest it eg into property, at least can get rental in return.
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My stand is just place spare cash in short term FD 6 months. And look for buying opportunities in property market 6 months down the road.
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DesertWind:
Serious ? So pessimistic ! Somehting is wrong with me than :oops: :lol:
My belief nowadays is don't put anymore money with the gahmen, may not get to see your money again. Try to take it out and invest it eg into property, at least can get rental in return.
If you're talking about \"giong down\" between the 2, I would have my last $ in the Govt than SIA :!:
But don't forget, CPF is also usable for property and other approved investments i.e. stocks and etc. -
Eagle-Ladybird:
well, now they lock $$ here and there....I have a firm belief that I probably won't get to see my cpf money - my descendents probably, but not me.
But don't forget, CPF is also usable for property and other approved investments i.e. stocks and etc.
Reading the title again, I think for me, first thing is to cut down on my spending. Buy less books and go library more.
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hquek:
Yup - my sentiment exactly, which is why I won't contemplate topping up CPF.
well, now they lock $$ here and there....I have a firm belief that I probably won't get to see my cpf money - my descendents probably, but not me.
Before the 30 Aug announcement, property seems a viable proposition. But now I do intend to move nearer to my girl's school once she reaches morning session, so have to consider the latest ruling announced.
Hopefully there will be refinement to the property measures, once the big \"e\" day is over
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Eagle-Ladybird:
only a small portion of it, not the full amount in the CPF account can be used
But don't forget, CPF is also usable for property and other approved investments i.e. stocks and etc. -
Eagle-Ladybird:
Ming, if the amount is not substantial why not top up your CPF instead to earn 4%
Hi Eagle-Ladybird,
CPF is a good vehicle if you want to build up your retirement nestegg and you don't need the money for many many more years to come! The 4% is definitely attractive & I have considered doing this as well. But not forgetting CPF is now trying to cut this interest-rate down to be on par with the SGS interest-rate so won't be at this level forever.
In the past I would say the past 15-20 years or so if one kept CPF funds and did not withdraw for any investment, the compounded interest rate would have snow-balled to a large sum of money and can grow nest-egg in this way. Furthermore upon age 55 years old can take out this nest-egg already.
However nowadays, retirement age has been raised to 62 years old and it has been announced that it is going to increase furthermore right? Also with the \"annuity scheme\" in consideration for the good of our citizens, we can no longer withdraw one lump sum right? So must pay a lump sum to buy annuity of perhaps each month take out a few hundred dollars over 10 to 20 years?
Also the withdrawal ceiling for using the CPF to buy properties and investments has been increasing and not yet ended will be increased over the next few years.
So with all the above measures, taking out CPF even for investment is no longer so straight-forward. In a nutshell, it is reasonable for most to feel we may not see our $$$ again.....
So right now, don't want to put anymore $$$ into CPF because the ceiling is going to increase and may not be able to use this $$$ even for investment.
Earning 4% with cash locked-up for 20-30 years is this a price you want to pay?
So now trying my best to think how to take $$$ out instead to be more liquid.....
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mwchua:
it really depends on how the wind is blowing. Once upon a time, hdb measures were fairly strict - no subletting etc; then it all went loose and prices spiralled like nobody's issue. Now controls are back in again. What I am trying to say is, stuff that's used for tightening may be loosened again, only thing is we don't know when.Before the 30 Aug announcement, property seems a viable proposition. But now I do intend to move nearer to my girl's school once she reaches morning session, so have to consider the latest ruling announced.
Hopefully there will be refinement to the property measures, once the big \"e\" day is over
For me, I'll keep my hdb very tightly, and hold on to some cash/liquid stuff so I can take advantage should the right opportunity arise.
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