Retirement

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31% Hit Medisave Contribution Ceiling Before 33

Tuesday, June 22nd, 2010

In a recently concluded Salary.sg poll, 31% of the respondents indicated that their medisave balance reached the prevailing medisave contribution ceiling before they were 33 years old. Are you one of them?
Once your medisave balance hits the MCC, the excess will be transferred to your Special Account.
How soon you hit the MCC is an indirect reflection [...]


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Posted in Other Money Matters, Retirement | 4 Comments »

CPF Minimum Sum Now $123k – Buying a 2nd Property?

Friday, May 14th, 2010

The prevailing CPF Minimum Sum will be increased to $123,000 effective 1 July 2010 (source: Straits Times). This is a $6k increase from the previous $117,000.
If you are thinking of using CPF to pay for a second property, you will need to set aside half of the prevailing Minimum Sum. This amount is currently $58,500, [...]


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Posted in Investment, Other Money Matters, Retirement | 9 Comments »

CPF Restored – $22.50 More In Medisave Account

Wednesday, May 5th, 2010

The government has announced that the employer CPF contribution rate will be increased by 1%.
From 1st September this year, your employer will pay an additional 0.5% to your Medisave Account. If you earn more than $4,500, you will get exactly $22.50 more. This is because CPF contributions are calculated based on the cap of $4,500.
However, [...]

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Posted in Retirement | 3 Comments »

Compare Your CPF Special Account Balance

Thursday, February 18th, 2010

If you have been working for some years, you should have a rather significant amount of money in your CPF Special Account.
The savings in your CPF SA currently still earn a 4% interest rate, totally risk free. There’s also an additional 1% interest paid to the first $60k of OA+SA.
The interest is high enough to [...]

Read the full article at Compare Your CPF Special Account Balance

Posted in Investment, Retirement | 10 Comments »

What’s not good about Supplementary Retirement Scheme (SRS)

Sunday, November 15th, 2009

At first glance, the Supplementary Retirement Scheme (SRS) appears to be a very good deal. But after a simple analysis, we will know why it is not the case.
As illustrated in today’s Sunday Times (see similar example in Finatiq), a contribution of $11,475 to your SRS account brings about a tax saving of $1,096. This [...]

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Posted in Retirement | 29 Comments »

The Wrong and Right Way to Invest: Wheelock CEO

Saturday, July 4th, 2009

Once in a while you get these great gems from reading the papers. In a Business Times interview, David Lawrence practically whacked the greedy banks and at the same time dished out an excellent investment advice. It’s never been so clear.
In the words of the Wheelock Properties CEO,
“A lot of this crap was sold by [...]

Read the full article at The Wrong and Right Way to Invest: Wheelock CEO

Posted in Investment, Retirement | 2 Comments »

Launch of Salary.sg Forums

Friday, June 12th, 2009

We have launched Salary.sg Forums.
Now you can discuss salary, job, career and investment matters in a user-friendly forum format.
Powered by vBulletin – which is the most popular forum engine among top discussion forums worldwide – you can now view well organized threads of discussions and reply directly to a particular thread or post that is [...]

Read the full article at Launch of Salary.sg Forums

Posted in Career, Education, Income, Investment, Jobs, Net Worth, Other Money Matters, Retirement | 3 Comments »

Retire when I am about to Kick Bucket?

Saturday, January 10th, 2009

Same survey, but different headlines.
I thought I heard over TV news that two-thirds of those surveyed are NOT willing to work beyond 65 years old.
Then, in printed and online news today, the headlines are “Baby boomers are not ready to call it a day” (BT) and “Survey shows 3 in 10 expect to retire at [...]

Read the full article at Retire when I am about to Kick Bucket?

Posted in Retirement | 4 Comments »

Is your Net Wealth 300k?

Sunday, November 23rd, 2008

The average household has a net wealth of $710,400, says an interesting article in New Paper on Sunday.
“Total Assets: $859,970
Currency & Deposits $157,930
Shares & Securities $120,360
Life Insurance Equity $76,820
CPF/Pension Funds $119,930
Residential Property $384,920
Total Liabilities: $149,570
Mortgage Loans $110,390
Personal Loans $39,180
Net Wealth: $710,400“
But that figure applies to the average household. What about the average person?
To keep things [...]

Read the full article at Is your Net Wealth 300k?

Posted in Investment, Net Worth, Retirement | 12 Comments »

Case Study 5 – Shrewd Millionaire Employee

Friday, May 30th, 2008

A reader called “whizzard” generously shares his experience in getting rich.
“I was pretty careful in the way I spent money and diverted much of what I had left over into investments … My friends were having a ball, wining, dining and holidaying”
Read his story here. Thanks, whizzard!
[Edit: for more words of wisdom from whizzard, see [...]

Read the full article at Case Study 5 – Shrewd Millionaire Employee

Posted in Income, Investment, Net Worth, Other Money Matters, Retirement | 10 Comments »

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