How much CPF do u have?
Hi im 3mth before 31 with only 40k in OA and 11k in SA. 15k cash. At this rate, I dun think I can survive in SG... Im currently in logistic field with non relevant diploma. Any advise for me to upgrade my salary?
BR Lost Sheep |
I have a building and facility dip. Should I consider hop back to what I studied?
|
Quote:
The CPF issue got into the spot light recently because our Gahmen think it should be sufficient to sustain low to middle income earners by the time they retire assuming they managed to achieve the required minimum sum. This sum would then be used to purchase an annuity plan that pays out a monthly sum from 65 till the recipients pass on. Currently the minimum sum required is $148K (from Jul 13). I see it continuously increasing every year to keep pace with inflation, possibly by $10K a year. Is it realistic for young workers to meet / catch up with this amount? I am not sure. For older workers like myself, in the initial years, I was behind in the amount. But I took the plunge and transfer money from my OA account to meet the minimum sum then. Because of the relatively high interest rate of 4%, my SA amount now is always above the prevailing minimum sum. For eg, my SA amount is now $180K against the required $148K. But I dont think I can just rely on the annuity payout when I reached 65. I am looking at other income sources. |
Min sum is OA + SA/RA? **** man I have buy hdb yet... im in deep ****
|
Wife and me. Late 30s. OA+SA+Medisave = 400k. Still paying $1.8k a month for our first EA HDB.
|
Quote:
At the end of the day, dont need to compare. You want compare sure compare against yourself ie set a goal eg by what age u want to earn what amount and from there see whether u have the capability or skillset to achieve it Like what the others had say early start investin early be it properties, annualties, stocks, bonds etc coz time is on your side now. Btw u married? If not why u worry so much? Wait till u get married then u come post here and tell me whether what you have is sufficient or not hahaha |
Not married. Earning 3k mthly. Still got non working-parents obligation. Just scared not enough money retire.
|
Quote:
|
am a male turning 29 this year
Ordinary Account (OA) $49k Special Account (SA) $13k Medisave Account (MA) $18k |
Male/33.
Ordinary Account (OA) $17k Special Account (SA) $48k Medisave Account (MA) $43k 100K odd OA went into housing. Healthy status? |
All times are GMT +8. The time now is 12:55 PM. |
Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2