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-   -   How much CPF do u have? (https://forums.salary.sg/cpf-central-provident-fund/2800-how-much-central-provident-fund-do-u-have.html)

Unregistered 05-06-2013 03:42 PM

Quote:

Originally Posted by Rhys (Post 38054)
Not married. Earning 3k mthly. Still got non working-parents obligation. Just scared not enough money retire.

How can you earn 3k monthly and yet have only 40K odd in OA? You started work at late age?

Unregistered 05-06-2013 03:50 PM

in my early 50s

OA: 418K (another 358K inclusive interest, withdrawn to pay for home)
SA: 174K
MA: 43.5K

Unregistered 05-06-2013 05:09 PM

Quote:

Originally Posted by Unregistered (Post 38149)
in my early 50s

OA: 418K (another 358K inclusive interest, withdrawn to pay for home)
SA: 174K
MA: 43.5K

Hi Sir thats remarkable, can I safely says that u are on the way to retirement soon? How did u get earn such a big figure? Are u living in condo or HDB? Thanks for the enlightenment

Unregistered 05-06-2013 08:29 PM

Quote:

Originally Posted by Unregistered (Post 38152)
Hi Sir thats remarkable, can I safely says that u are on the way to retirement soon? How did u get earn such a big figure? Are u living in condo or HDB? Thanks for the enlightenment

The amount may be remarkable, but I don't think it is a good model to emulate. It shows the money was not invested for better returns. It could have been invested in a property which would have reaped capital gains as well as provide rental income - this is only way to take cash out of the CPF!

Unregistered 05-06-2013 10:25 PM

OA $30k
SA $120k
MA $40k

Owns 3 condos, fully paid. Total worth of 3 condos $3.6m. If only I could use my SA to buy another condo, it would better utilized. I am good at investing.

Unregistered 05-06-2013 11:15 PM

Quote:

Originally Posted by Unregistered (Post 38174)
OA $30k
SA $120k
MA $40k

Owns 3 condos, fully paid. Total worth of 3 condos $3.6m. If only I could use my SA to buy another condo, it would better utilized. I am good at investing.

correction: you have been lucky in your investments.

Unregistered 06-06-2013 07:18 AM

Quote:

Originally Posted by Unregistered (Post 38179)
correction: you have been lucky in your investments.

Not true, I am indeed very good at investing. I accumulate my OA and cash savings to prepare to buy during downturns and crisis. I bought my first condo in 1985 during the recession, my second condo in 1999 during the Asian financial crisis and my third in 2009 during the recent global crisis. As you can see that is why my OA is so low because I have utilized it. My returns from my property investments is many times fold. I don't understand why we have all this minimum sum thing. They should exempt those rich people like me from the min sum as I can very well take care of myself. The min sum is only for investment illiterate people.

I am building up my cash reserves to buy another condo during the next market downturn in 2025. I have 12 years to prepare.

Unregistered 14-06-2013 04:24 PM

Quote:

Originally Posted by Rhys (Post 38054)
Not married. Earning 3k mthly. Still got non working-parents obligation. Just scared not enough money retire.

its weird tat u r earning 3k n considering u r 31 n ur odinary has only 40k... some more u r not married n not yet buy a house. did u use it for investment in stock?

u should have started working at around 23 since u r a dip. even if u got a starting pay on 1500, along the 8 yrs + current salary u should have more than 40k.

Unregistered 15-06-2013 02:57 PM

early 40s

OA - 260k + 35k in investments
SA - 97k + 15k in investments
MA - 43.5k

Unregistered 15-06-2013 05:24 PM

Quote:

Originally Posted by Unregistered (Post 38675)
early 40s

OA - 260k + 35k in investments
SA - 97k + 15k in investments
MA - 43.5k

R u making better returns investing your CPF money? SA giving 4% and very safe, so it is hard to beat.

Noticed u r already 40+ but didn't use any CPF for property. Buying HDB could be a safe investment, better than shares.


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