tag:blogger.com,1999:blog-3276688108456391559.post3167652606982401330..comments2024-02-27T13:41:46.698+08:00Comments on SG Young Investment: Planning retirement for my parentsSGYIhttp://www.blogger.com/profile/09445517891969740960noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-3276688108456391559.post-11278023607429834612014-06-01T03:47:17.524+08:002014-06-01T03:47:17.524+08:00:):)Investment in Stockshttp://www.investment-in-stocks.com/noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-85038529325828025152014-05-28T14:04:26.652+08:002014-05-28T14:04:26.652+08:00Hi SMOL,
Haha, then you can make a lot of money f...Hi SMOL,<br /><br />Haha, then you can make a lot of money from the more than 50% who are confused. CPF system is already hard for me to understand. I spent days and nights just to read up on it. If the system can be more straight forward it would be good. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-44133265405123267262014-05-28T13:53:37.232+08:002014-05-28T13:53:37.232+08:00Hi,
The interest earned will be factor in when yo...Hi,<br /><br />The interest earned will be factor in when you get your monthly payout. Effectively, you'll receive higher monthly payouts because of the interest earned. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-29178287483553855012014-05-28T12:43:03.840+08:002014-05-28T12:43:03.840+08:00Hi,
Thanks for the info,
Am surprised that I can&#...Hi,<br />Thanks for the info,<br />Am surprised that I can't withdraw the interest earned on the R.A<br />So sadUnsurenoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-680324511683316352014-05-28T12:06:03.197+08:002014-05-28T12:06:03.197+08:00SGYI,
You are doing a great job here! Love the re...SGYI,<br /><br />You are doing a great job here! Love the real examples of your parents.<br /><br />I remember many years ago at the bus interchange for buses to MY, there's an uncle that charge 50 cents to fill in the immigration form for travellers.<br /><br />I think CPF may need to review their website design and content. If not, I think I will bring my stool and sit outside CPF building - charge $1 per question from the confused public! Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-87969271045110591852014-05-28T11:43:19.210+08:002014-05-28T11:43:19.210+08:00Hi,
The amount for cpf life is transferred in two...Hi,<br /><br />The amount for cpf life is transferred in two instalments. <br /><br />Some information I got from cpf website: <br /><br />"When you are 55 years old, we will deduct your RA savings up to the Minimum Sum Cash Component (MSCC) that applies to you as the first instalment of your annuity premium. The rest of your RA savings will stay in your RA. Your MSCC is half of the MS that applies to you.<br /><br />One to two months before your drawdown age (DDA), we will deduct the rest of your RA savings as the second instalment of your annuity premium. This will include any new money that you have built up between your 55th birthday and your DDA. The new money can be from any top-ups, transferring of funds from other accounts into your RA, interest earned or refunds from selling property or investments.<br /><br />When you reach your DDA, you will start to receive monthly payouts from the annuity fund. The annuity fund is also known as the Lifelong Income Fund. In this context, it consists of the annuity premium, the interest earned on the annuity premium and the 1% extra interest earned by members on the CPF LIFE Standard Plan"<br /><br />You can't withdraw any interest or any sum on both accounts. It will be transferred fully to the annuity pool by the time you reach age 65. I hope this clarifies your doubts. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-61538610015076717192014-05-28T11:43:05.216+08:002014-05-28T11:43:05.216+08:00Your CPF Life will start paying you upon reaching ...Your CPF Life will start paying you upon reaching 65.<br /><br />SA and RA earn 4%<br /><br />You can't touch RA but you can withdraw RA.<br /><br />Did you attend CPF reaching 55 seminar?<br /><br />If not, good to attend.<br /><br />I also attended<br />Createwealth8888https://www.blogger.com/profile/08563834016250153049noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-81897688458753466482014-05-28T11:22:33.813+08:002014-05-28T11:22:33.813+08:00Hi SGYI,
I have reached 55yrs last yr. I have deci...Hi SGYI,<br />I have reached 55yrs last yr. I have decided to opt for cpf life. However, I have reached the minimum sum of $149K+. CPF, upon my opt-in to cpf life, CPF board transfered from my retirement ac of $74K and leaves the balance of $75k+ in R.A. <br />Will my retirement ac and Cpf life be accrued any interest. Can i withdraw the interest from both accounts. Am confusedUnsurenoreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-70070482906045367572014-05-28T09:13:37.311+08:002014-05-28T09:13:37.311+08:00Hi Uncle CW,
Agreed. Many people surprising think...Hi Uncle CW,<br /><br />Agreed. Many people surprising think that they don't need to save additional and just take out cpf money will be enough for them to retire. Many do not want to receive monthly payment but want to take out everything at one shot. Many want to enjoy now and suffer later. Maybe they don't know they will suffer. SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-15697369725699328182014-05-28T08:22:11.386+08:002014-05-28T08:22:11.386+08:00Many may not like to hear the hard truth.
CPF mi...Many may not like to hear the hard truth. <br /><br />CPF minimum sum which is NOT inflation adjusted is just SMALL part of our retirement planning.<br />Createwealth8888https://www.blogger.com/profile/08563834016250153049noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-82169904833140682972014-05-28T08:18:34.934+08:002014-05-28T08:18:34.934+08:00Hi,
You're welcomed. Wising you prosperity to...Hi,<br /><br />You're welcomed. Wising you prosperity too.SGYIhttps://www.blogger.com/profile/09445517891969740960noreply@blogger.comtag:blogger.com,1999:blog-3276688108456391559.post-67890519255558121472014-05-28T03:07:40.130+08:002014-05-28T03:07:40.130+08:00Thank you for this nice post.
I like this kind of ...Thank you for this nice post.<br />I like this kind of post ,<br />Because it gives me clear and beautiful ideas about this topic.<br />I hope your prosperity.<br /><br /><br />Investment in Stockshttp://www.investment-in-stocks.comnoreply@blogger.com