🌟 JOSH TAN SPECIAL LINK HERE : tigr.link/5WT1ZO Tiger Brokers Welcome Rewards Deposit & trade to win prizes worth USD 888* + USD 30 Tesla fractional shares! Account Opening: • Unlimited Commission-Free Trades* for HK & SG & China A Stocks for 365 days • Unlimited Commission-Free Trades* for U.S. Stocks for 180 days Activate auto-sweep on Tiger Vault Reward for: • 30-day(trading days only) interest bonus boosted to 8%* p.a. First Deposit more than 0 • 3 months SGX LV2 advanced quotes First Deposit more than SGD 300 Reward: • USD 10 of Apple fractional shares (NASDAQ: AAPL) First Deposit more than SGD 1,000 & complete 5 New BUY Trades* Rewards: • USD 30 of Apple fractional shares (NASDAQ: AAPL) • 1 sure-win draw attempt (get free fractional shares valued between SGD 8.8- SGD 888) With a cumulative net deposit* of min. SGD 1,500 within 7 days of the first deposit • Special offer: Extra USD 30 Tesla fractional shares *T&Cs apply. This advertisement has not been reviewed by the Monetary Authority of Singapore.
I had $650,000 in my CPF in 2013 when we left Singapore. That is a lot of money in the country we currently live in, but just peanuts in Singapore. The money is barely enough to buy a luxury car. It is just barely enough to just make the down payment on a private condo.
43. In the yellow bracket 😅. By 50 might be in the 1m or more bracket 😅 OA in endowus invested in s&p500, SA just parked there FRS. MA topped up every year first day get tax relief. Dont buy a house unless its bto. Privileged to have a house from parents so invest OA to get 8% yoy.
Erm, I don’t mean to point out the obvious, but the yellow color segment you pointed out has a much bigger range (e.g 100k) while the others show a diff of 20k. The 300k-400k segment is not the largest proportion of Singaporeans
Hi Josh, you mentioned current CPF annual salary ceiling is at 102K salary. Assuming I have hit this cap by December, but then I get an additional 2 months bonus. 1. Will the 2 months bonus be paid to me in full (meaning no more CPF deduction for Employees contribution), and 2. The Employer will no longer include and contribute Employers portion for the 2 months bonus, (or will the Employer still pay the contribution to me in cash?). 3. Is there no way to earn CPF contribution beyond the 102K salary cap? What if I have 2 employers? Appreciate your advice. Thanks.
Hi Ben, from my understanding 1) not enough info Note there is a monthly ceiling cap of $6800 now. Depends on whether u had mid year bonus 2) yes coz of yearly limit 3) cap is per employer. 2 jobs is only way to be more Hope it answers
i think you might want to set up a personal call with josh. everyone's situation is very different...but just off the top of my mind as im also in my 40s.. i can say 40s is stil considered young la. so gotta really ask yourself what is your risk appetite, how urgent you need money etc.
Dear Josh, In relation to the topping up to MA for tax planning or retirement planning. what does this action will you consider & label as in terms of expenditure recprding? Do u put this under Needs, Wants or Investment? TIA.
Our system is no good compared to Europe’s system. Europe’s pension is paid monthly till death. That’s why they enjoy their retirement more than us. Ours have to work when the cpf retirement money is finished. So sad
Hi Josh. Let say I could top up $5k into my medisave before hitting the cap and this allows me to claim a tax relief of $5k. However the assessable income is still high and I still need to pay tax. Isn't it better just to channel my cash to pay tax directly?
At around 2:00 of this video you said that if MA is “full” and SA also “full”, your CPF contribution will flow into OA. That’s also what I understood. Around Q3 last year, my SA amount reach the FRS but it still continue to receive more contribution. Any idea why? I thought it’s some new policy, until I watched this video.
How about those that just want to have cash instead of large sum in Retirement Acc. What is the amount one can withdraw at age 55yo? May be you can give examples for those reach BRS & FRS when one says reach $250k with $50k SA Cash Top Up? As SA Cash Top Up has a catch, it seems to be a separate Retirement Sum that one cannot touch at all and not form part of BRS and FRS amt. Thanks.
Technically SA top up is reserved and will flow to RA for CPF Life But OA transfer to SA and SA from employment can be withdrawn when FRS is met. Hope it clarifies
@@joshconsultancy Thank you for the clarifications. It means once SA Cash Top Up is done, this amt + compounded interest will never see the light until 65yo in the form of gradual monthly pay up.
No. That will be the RA for monthly payouts from 65. After 55, if you've FRS in RA (or BRS with property pledge), you are free to take out everything from SA and OA if tou want. Many will want to do SA shielding for the risk free 4% interest. Once you've missed the window after 55, then you can't do so anymore
@@Phonedumb I think for SA Cash Top Up, it is a different story, it is not part of BRS or FRS, you can withdraw excess of FRS or BRS @55yo but does not include this SA Cash Top Up + compounded interest. I suspect this sum is also not eligible for investment purpose, ie. can't do shielding too but this must check with CPF.
Hi, I’ve been a homemaker most of my life and have very little CPF. I’m 63 now and trying to top up my RA account… meanwhile do you think I should also top up my MA or just stick to topping up my RA to FRS ? Your videos on CPF has been very helpful. Thank you !
My gut opinion is if possible find opportunities to build up income to ensure a good chance for retirement. Reason being if OA is used for home, SA is only part left for retirement. Hope it answers and all the best in your journey
Money lender 4% interest rates also based on monthly calculation, but the interest amount is much higher than cpf SA interest amount. If cpf is based on monthly then 100k will get 104000 on first month then second month will get 108160?
@@Longtermalwayswins Can you confirm it is calculated based on every month? As I have $100k in SA and interest per year is $4K+ and if based on monthly, then it will be much more isn't it?
@@joshconsultancyi think what the author meant is having more means wanting to have more, as current state "more" is insufficient to tame inner self to wanting more.
