In Singapore, there are 2 big things that the government is giving you as big gifts:
1. BTO flat - This is the cheapest property which is sold so cheap that it will make you laugh so hard. You can clear the mortgage in just a few years if you earn a decent salary and not a spendthrift (buy cars, employ maids, go expensive holidays, gambling). After MOP, you can sell at big profit. You have 2 chances to buy BTO flats. EC is also another big present because it is sold so cheap, compared to PC.
2.
CPF rates - 2.5% in OA and 4% in SA and MA. These are risk free. I repeat, risk free. No where in the world can you get this type of big presents. Max up your SA as fast as possible so that you can enjoy the 4% risk free rate as long as you can. I don't understand why some people don't want the
CPF min sum to increase, I want to top up my SA as much as I can and as fast as I can so that my SA will grow steadily for many years. In fact, if allowed, I want to top up my SA to $1m now. Remember, risk free. If you put money in stocks and investment properties, these can crash any time. Many people lose money investing in stocks and property.
Quote:
Originally Posted by Unregistered
Self 37 - 140,000 pa
Wife 29 - 65,000 pa
4 room HDB, fully paid
1 daugther
Save 80,000 pa
No car
No maid
Not thinking of upgrade to condo as not worth it.
Thinking of investing but based on comments in the forum, the return is about 5% which haven't taking into consideration the risk involve.
Should I top up my CPF special accounts to the max? At least the risk is lower and still can generate 4% return? |