if i have a S$1m in cash

[LOLMum]

if i have S$1m in cpf, definitely take some out to invest in bricks.


but if a man has S$1m in cpf, better keep an eye on him. too many news about men throwing away $$$ on 小三，小四 the minute they hit the withdrawal age. :moneyflies: :moneyflies: :moneyflies: :nunchuk:

[peapot]

I wasn’t aware that CPF contribution was 50% in the 80s!!

[verykiasu2010]

peapot:

I wasn't aware that CPF contribution was 50% in the 80s!!

and early 90s before the crisis

[KSP]

verykiasu2010:

Atan:

How to have $1M in the CPF account? Not unless one inherit it fm others (such as deceased spouse, etc..) or top up own account? For the latter, why should one do that? To enjoy higher interest rate in the special or even ord acc? Anyway, if there is $1M in the CPF acc, it will probably be used in investment (trust fund, bonds, shares etc) or used to finance a property.

those who started work in the 80s would have around $1m in CPF esp grown during those years of 50% contribution .... and no cap on bonus payments CPF

i still think is hard to achieve $1M in CPF even for those started working in the 80s.... the starting pay for grads then was around $1.8k if i remember correctly..... and the 50% monthly CPF is capped base on $6k salary..... not forgetting after reaching 45 the CPF is going down trend... unless we have a live example here who has $1M in the CPF... vks2010, are u the one?? i think $6-700k still achievable...

[verykiasu2010]

KSP:

verykiasu2010:

[quote=\"Atan\"]How to have $1M in the CPF account? Not unless one inherit it fm others (such as deceased spouse, etc..) or top up own account? For the latter, why should one do that? To enjoy higher interest rate in the special or even ord acc? Anyway, if there is $1M in the CPF acc, it will probably be used in investment (trust fund, bonds, shares etc) or used to finance a property.

those who started work in the 80s would have around $1m in CPF esp grown during those years of 50% contribution .... and no cap on bonus payments CPF

i still think is hard to achieve $1M in CPF even for those started working in the 80s.... the starting pay for grads then was around $1.8k if i remember correctly..... and the 50% monthly CPF is capped base on $6k salary..... not forgetting after reaching 45 the CPF is going down trend... unless we have a live example here who has $1M in the CPF... vks2010, are u the one?? i think $6-700k still achievable...[/quote]actually the CPF rate last time was the same all the way to age 55. from age 55 its goes down; the age 45 thing only started in recent years. that is why the complaint and the cry to restore CPF. though CPF contribution last time was capped at $6k, there was no cap for bonus until the introduction of the 40% rule and a separate reporting under IR8S

if I have $1m in my CPF I won't be a keyboard warrior today :rotflmao: :rotflmao:

[Atan]

CPF does not go downtrend until 50yrs old, haha… I guess no one is more than 45 in this thread, that’s why you dunno.


I have asked someone (earn good salary since 80s) in the mid 50s about the possibility of having 1M in CPF. He said that it is possible to be close to a Mil, but not a Mil.

[LOLMum]

haha, one way to have S$1m in cpf is to dump your own $$$ into it.


one of my brothers has been putting $$$ monthly into another brother's cpf account (very old already cant work) on top of a small amt of pocket $$$. of course the amt is no where near to S$1m....................

[KSP]

come to think of it $1M is not alot in SG… a 1.6L Jap car is $100k… a 1,200fts condo in a non-prime area is around $1M…

[Atan]

YES, you are so right. Many S’poreans are rich in assets, esp housing but do not have free cash of at least a million, either in the bank or in investments. Actually, even if one as this one million, it is really not alot of $ now…

[concern2]

A friend just sold his house for over than a million. Told us no need to be envious - he has an old mom to look after, has no kids, and recently broke his back…