Quote:
Originally Posted by Unregistered
Uncle, if you are truly unassuming, please share tips on how you accumulated so much wealth. Are you and your wife high earners making 200k to 300k a year? Did you make a lot of good investments in stocks and properties?
I'm asking because my parents also worked hard and saved hard and even invested rather well, but they don't even have half of what you have.
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Ok, share some more. Me and wife combined annual income about 350K (not as fantastic as others who posted). No loans, just daily normal expenses and kids studies to fund, so annual spending is about 85K or less. Lucky to have bought condo units earlier. Also constant savings is important.
One guy questioned how can SA be more than limit. The SA limit currently is 131K. This limit prevents people from transferring more than 131K to the SA. However
CPF continues to take portion of your salary to add to SA every month and every once a year, the interest earned in SA is left in SA whether you hit the limit or not. So if you have topped up your SA to the limit in earlier years, it will now grow to more than the current limit.