Retirementat Salary.sg – Your Salary in Singapore |
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 [...]
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 [...]
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 [...]
Read the full article at Case Study 5 – Shrewd Millionaire EmployeeStarting 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 [...]
Read the full article at CPF Changes from January 2008After 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.
Read the full article at New CPF Interest Rates (update)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 [...]
Read the full article at CPF Withdrawal: 2 WaysPM Lee announced some changes to the CPF scheme during National Day Rally. Subsequently, Manpower Minister Ng Eng Hen divulged further details. I summarise the changes here: The interest rate for the Special, Medisave and Retirement accounts (SMRA) will not be fixed at 4% anymore. Starting from 1 Jan 2008, the rate will be pegged [...]
Read the full article at New CPF Interest RatesJuxtapose the profiles of 2 rich men – 1 of whom very rich – and you get some idea of how they grow their money. Featured in Sunday Times today are decamillionaire couple George Raymond Zage III and his wife Kathleen Zage, and a rather rich insurance veteran Stanley Jeremiah. Here’s what I gather from [...]
Read the full article at Of property, career and carsIn case you’ve forgotten, the employer CPF contribution has just been increased from 13% to 14.5% (effective 1 July). If your gross income is $4,500 or more, this increase translates to, heh, an additional $67.50 to your CPF accounts each month. In fact, your Ordinary Account will get $45 and the remaining $22.50 goes to [...]
Read the full article at Employer CPF contribution now at 14.5%Minister Lim Boon Heng said yesterday that the CPF Minimum Sum withdrawal age may be raised to 65 (from 62). Note that you can still withdraw money from your Ordinary and Special Accounts when you reach 55 years old, subject to the rules given on this CPF page. Example: If you are retiring today and [...]
Read the full article at CPF Minimum Sum withdrawal age
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