Whats your net worth

Originally Posted by lazyplane

40k CPF a year and per individual and not as a couple !

Wa.. that guy got more than a million dollars in CPF. And his wife also.

Even this guy lose to him. And he has been showing his cpf records regularly unlike the unknown person posting here..

[url=://singaporeanstocksinvestor.blogspot.com/2019/01/cpf-interest-earned-in-2018.html]CPF interest earned in 2018. | A Singaporean Stocks Investor (ASSI)[/

can cpf money/interest be taken out? I am clueless.
at what age can i withdraw my money? is there any criteria for withdrawal?

Originally Posted by Unregistered

can cpf money/interest be taken out? I am clueless.
at what age can i withdraw my money? is there any criteria for withdrawal?

CPF's interest is fixed at the 2-2.5% for lower tier. Any monies used for Housing for example will be payable back together with cash money interest.

The interest accrued is as good as money deposited/contributed. No distinction.

Should you hit the minimum sum, you may elect to withdraw a certain sum upon maturity prior to the 'monthly payout'.

Why would you want to touch your CPF money? Government is doing investment in it! We need to have faith in them and similarly show them our support! Just refrain from touching it!

Originally Posted by lazyplane

40k CPF a year and per individual and not as a couple !

Wa.. that guy got more than a million dollars in CPF. And his wife also.

Even this guy lose to him. And he has been showing his cpf records regularly unlike the unknown person posting here..

[url=://singaporeanstocksinvestor.blogspot.com/2019/01/cpf-interest-earned-in-2018.html]CPF interest earned in 2018. | A Singaporean Stocks Investor (ASSI)[/

AK71 is kind enough to share his CPF numbers to spur and show others it can be done. However he is only 48, and his CPF numbers though respectable and relatively high, is not by any measure the highest.

CW of Createweath 8888 blogspot at 62, has more than $1M in his CPF OA, yes OA alone! You may say, oh, but he is 62!, so his CPF should be high. I can tell you that many people would have started to drawdown on their CPF when they turned 55, so it is very remarkable and impressive to still have $1M in his OA at 62. He has however started to draw out his yearly interest from his SA and OA totalling $23,000 (interests from Jan to Nov - why only 11 months? is another topic for another thread if you wish to understand more)

And CW is not a scholar, not a successful business owner nor in senior management when he was working (he retired at 60). He was a middle manager in a GLC. Again, like AK71, he showed it can be done - with discipline and determination, one can build up a handsome amount in one's CPF.

As you can see from the above two "success" stories, both AK71 and CW (both retired by the way) who were not in top management nor successful business people, yet they have built up respectable CPF numbers. What more can you expect of people who are more successful than them in their careers and businesses?

I shared that our combined interests from our CPF for last year was $80K (from all our accounts). We are also not in top management position but high enough with comfortable remuneration. This has allowed us to buy properties with cash payment rather using our CPF. Not only that, we have also constantly topped up (through both voluntary contributions and returning CPF monies that we used to buy our first home) our CPF. Both my wife and I, like CW, are "OA millionaires" - meaning we have more than $1M in our OA. And I know we are not alone, nor do we have the highest CPF numbers. People are just not sharing. Thats why we must be grateful to bloggers like AK and CW.

Originally Posted by Unregistered

AK71 is kind enough to share his CPF numbers to spur and show others it can be done. However he is only 48, and his CPF numbers though respectable and relatively high, is not by any measure the highest.

CW of Createweath 8888 blogspot at 62, has more than $1M in his CPF OA, yes OA alone! You may say, oh, but he is 62!, so his CPF should be high. I can tell you that many people would have started to drawdown on their CPF when they turned 55, so it is very remarkable and impressive to still have $1M in his OA at 62. He has however started to draw out his yearly interest from his SA and OA totalling $23,000 (interests from Jan to Nov - why only 11 months? is another topic for another thread if you wish to understand more)

And CW is not a scholar, not a successful business owner nor in senior management when he was working (he retired at 60). He was a middle manager in a GLC. Again, like AK71, he showed it can be done - with discipline and determination, one can build up a handsome amount in one's CPF.

As you can see from the above two "success" stories, both AK71 and CW (both retired by the way) who were not in top management nor successful business people, yet they have built up respectable CPF numbers. What more can you expect of people who are more successful than them in their careers and businesses?

I shared that our combined interests from our CPF for last year was $80K (from all our accounts). We are also not in top management position but high enough with comfortable remuneration. This has allowed us to buy properties with cash payment rather using our CPF. Not only that, we have also constantly topped up (through both voluntary contributions and returning CPF monies that we used to buy our first home) our CPF. Both my wife and I, like CW, are "OA millionaires" - meaning we have more than $1M in our OA. And I know we are not alone, nor do we have the highest CPF numbers. People are just not sharing. Thats why we must be grateful to bloggers like AK and CW.

LONG STORY SHORT - VERY SMART MOVES
-repay cpf used for PURCHASING home (something property agents either fail to explain how the interest will work/omit to explain)
-withdraw accordingly and not abusively (something not everyone does, in fact everyone is only concerned about min sum and min age)
-personal contributions-> way to go (everyone thinks that the SA is crap, interest rate is crap, govt is crap, but forgotten to find out who truly benefits from such - IT IS US!)
-continue to motivate anyone reading his posts

Those who constantly dabble in stocks with CPF monies, good luck and it goes both ways (be thankful that there is no requirement to 'pay back' if there is a loss)

Originally Posted by Unregistered

CPF's interest is fixed at the 2-2.5% for lower tier. Any monies used for Housing for example will be payable back together with cash money interest.

The interest accrued is as good as money deposited/contributed. No distinction.

Should you hit the minimum sum, you may elect to withdraw a certain sum upon maturity prior to the 'monthly payout'.

Why would you want to touch your CPF money? Government is doing investment in it! We need to have faith in them and similarly show them our support! Just refrain from touching it!

Because i need cash. Is it not my money? Last time i hospitalised, i had money in CFP but they not allow me to use. i had to borrow money to pay bills.

Originally Posted by Unregistered

Because i need cash. Is it not my money? Last time i hospitalised, i had money in CFP but they not allow me to use. i had to borrow money to pay bills.

I will not feel sorry for saying TWO of the following points I have in mind.

FIRST, the recent posts in this thread are all targeted towards retirement with passive income and either one of the income or the bulk of the income comes from CPF's OA/SA.

SECOND, it is obvious that you do not have sufficient cash flow due to one of the many reasons, lacking of a sufficient medical coverage policy.

Look, the point here is not to demoralise you in any manner. But time to be awaken by the reality of CPF that indeed it is our money so called and we cannot withdraw it as and when we favour. Get your financial planning sorted out and if it is because of any reasons you cannot which includes medical reasons where you are denied a insurance policy, failure to contract for social assistance, but not limited to. Then, your future is fixed, you will then impatiently wait for the disbursements of the funds as stipulated by law.

Note: Lets not even speak of investments. Get your body up running fine before anything else.

There seems to be keen interest in the CPF lately. More people are now warming up to the fact that CPF can be a good and viable scheme to save up for retirement.

CPF is a rather unique and interesting scheme in that once you put money in (either through salary deduction or voluntary contributions), you cannot simply make withdrawals from it except for housing, local uni education or for some medical expenses. It is also a scheme where you cannot put more money in even if you wanted to.

So, people are curious as to what is the maximum amount of money one can have in their CPF at a given age. This is not a simple question to answer, as there are people who received their bequests from their relatives direct into their CPF OA thus boosting their amounts.

Even for those without the benefits of bequests, it is still difficult to pin down the maximum amount one can accumulate in his/her CPF at a given age because it is dependent on when one starts working and thus starts contributing to his/her CPF.

There are however people who share their numbers online; people such as AK71, CW8888 and others.

Their CPF numbers provided good benchmarks for those who are in the same age groups as these bloggers. But their CPF amounts by no means represent the highest amount attainable at their age.

AK71 at 48, has accumulated a total of $845,373 in his combined CPF accounts. Then we have a Jac Lau, who at 57, accumulated $1,044,000 in his combined CPF accounts. Jac is what we called a CPF millionaire.

And there is yet another category of CPF members who attained CPF OA millionaire status. CW8888 is one of them. He attained this status at age 62. Mind you, he retired at 60!

I did a simple modeling and concluded that it is possible for a high performer to accumulate $1M in his OA by the age of 55! I achieved this status at age 56, one year late. But better late than never.

38 year-old single female
Salaried worker $950k per annum
Cash $3.7m
Equities $1m

Passive income of $100k per annum (combination of interest income and dividends)

No debt, no car, no credit card, no property (live with parents)

Originally Posted by Unregistered

38 year-old single female
Salaried worker $950k per annum
Cash $3.7m
Equities $1m

Passive income of $100k per annum (combination of interest income and dividends)

No debt, no car, no credit card, no property (live with parents)

I want to marry you.

Originally Posted by Unregistered

I want to marry you.

This made me laugh out loud because I found it funny and very flattering (thank you very much by the way, even if you were being sarcastic), and prompted me to render a rejoinder.

Having read through 265 pages worth of "net worth" comparison (yes, I have that much free time) - what came through strongly is that everyone's idea of an "enough is finally just nice & enough" number, is just that, a personalised numerical figure of "having arrived".