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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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Starting from 1 January 2008, your CPF balances will earn more interests.
Interest Pegging for Special Account, Medisave Account and Retirement Account (SMRA)
The yield will be pegged to 1% + the 12-month average yield of the 10-year Singapore Government Security (10YSGS), subject to a minimum of 4% for 2 years. The yield data is available at [...]
After PM Lee’s announcement on CPF changes, it’s now official. (Well, the annuities scheme is still being studied.)
See this CPF In Touch issue for an excellent summary.
There are 2 ways to withdraw from CPF. Each can be viewed as “easy” or “hard” depending on how you look at it.
Let’s first talk about the more straightforward one:
You work diligently and both you and your employer contribute to your CPF accounts (as mandated by law).
Then at age 55, you can withdraw [...]
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