Friday, January 5, 2018

CPF - Should you or should you not

Hi everyone!

Once again, the period of getting interest from cpf is here. Not everyone is excited but I am cause I am looking to every single ways to make my money working for me and getting interest/dividends are one of the ways!

So you might ask, do I even top up my cpf and if yes, how much do I top up every year? Personally I don't do any top up cause I don't have much savings to put in cpf especially I need more cash flow in the future (for my family). However, once I have extra savings, I might put some in cpf and the rest in other instruments.

Some people might asked, cpf money, you will not be able to withdraw until 55 years old. It's like can see but cannot touch, is it that worth it? Some people might see cpf as a liability as part of their salary are credited to cpf and they are unable to touch it. For me, I treat cpf as a long term saving program (especially for SA account) as it helps me to save and also earn quite a good amount of interest.

How about transferring OA to SA? Is it a good choice? Firstly, there isn't a fixed answer for this as there are pros and cons in transferring OA to SA. Let's say you are still young and want to build your family in the near future like buy a house and etc, I would suggest not to transfer your OA to SA yet until you have sufficient funds for it. The reason is because transferring from OA to SA is an irreversible move, once you transfer to SA, you won't be able to transfer it back to OA. So settle your big item first that requires your OA funds. After which, you can slowly consider how much to transfer in order to earn the attractive interest of 4% (extra 1% for the first 60k)

Will JYKL be doing the transfer? Yes, I will be doing it soon as I want to earn more interest in my cpf account by putting it more in SA cause the earlier you do, the more interest you will be able to get (compound interest effect). However do think carefully as you might need to use your OA for other stuff.

Thanks for reading!

14 comments:

  1. Change your life, thanks to a financial loan without protocol
    You dream to build your house, start your own business, erase all the credits that are in your name in banks or financial institutions, you want to buy your car or others ... I certify that you will benefit from the loan that you want without protocol.
    E-mail: nathanmercier4@gmail.com

    ReplyDelete
  2. This comment has been removed by the author.

    ReplyDelete
  3. Actually is 5% SA if u have total of 60 in your cpf account.

    ReplyDelete
    Replies
    1. Hi Andrew,

      The extra 1% is for amount up to 60k right? Thanks for the info, I will update in my blog.

      Thanks

      Delete
  4. I would like to say thank you to ANGEL financial investment for all the things they have helped me with. I have a large family, and every time we have had a crisis Angel kings Loan finance has helped us out.need for extra money can arise at just about any time. they pride themselves on being able to meet your needs and provide a loan for just about any reason you may need. their process is 100% online, quick and simple.they provide

    Home Loan
    Car Loan
    Real Estate
    Company Project
    Business Loans
    Loan to buy Property
    Company Expansion
    Personal Loan [secure and unsecured]
    Students Loan and so many others.

    I thank God for the help they have provided to me and my family,email them today at {angelloaninvestmentt@gmail.com

    or call: +14097944376
    {angelloaninvestmentt@gmail.com}

    Best Regards
    Julia Jeehee chung

    ReplyDelete
  5. I`m Charlie Bean. I needed a loan to buy a house and I searched for a mortgage loan from all banks and I was denied and I loss hope of having my own house until I came across a post just as you reading my post now. I saw a post about a Financial Service Company who gives loan at 2% interest so I applied in STEAKLEY FINANCIAL SERVICES using their email steakleyfinancialservices@yahoo.com. And my loan was granted it was like a dream but was true and now am a owner of a house in Toronto and am paying the mortgage loan with no stress and I also requested if I can be granted a business loan and I was also granted. Now am living a happy life, I will advice you if you have an financial problems and you need money to settle it so you can pay with no stress just contact Steakley Financial Service at their email Steakleyfinancialservices@yahoo.com or number +1(512) 714-8010.

    ReplyDelete
  6. URGENT LOAN OFFER BANK TO BANK TRANSFER EASY

    we offer loan to all
    categories of seekers be it companies or for staff usage. We offer
    loan at 3% interest rate, Contact us via Whats app +919205646839
    mrwilliam751@gmail.com
    LOAN SEEKERS APPLICATION FORM
    ******************************
    1) Full Name:
    2) Gender:
    3) Loan Amount Needed:
    4) Loan Duration:
    5) Country:
    6) Home Address:
    7) Mobile Number:
    8) Fax Number:
    9) Occupation:
    10) Monthly Income:
    11) Salary Date:
    12) Purpose of loan:
    13) Where did you get our loan advertisement:

    ReplyDelete
  7. Good day: you need an urgent loan to solve your financial needs, we
    offer a range from $ 5,000.00 to $ 10,000,000.00 loan Max, we are
    reliable, efficient, fast and dynamic, with a 100% guaranteed and we
    also gives credit to (. euros, pounds and dollars) the interest rate
    applicable to all payday loans (3%), if you are interested get back to
    us through ( helpfiance@gmail.com ) with the information below: full
    name: Country: Amount of the loan Address: Duration: Age: Gender:
    Occupation: phone number: Thanks. I await your urgent response
    Whats app +919971767157

    ReplyDelete
  8. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

    ReplyDelete
  9. How I Got My Loan From A Genuine And Reliable Loan Company

    My name is Mr Frank. I live in USA and i am a happy MAN today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $150,000,00 and was scammed by those fraudulent lenders and a friend introduce me to MR IBRAHIM MUSA,and he lend me the loan without any stress,you can contact him at (creationfinance7@gmail.com)

    1. Your Full names:_______
    2. Contact address:_______
    3. Country Of Residence:______
    4. Loan Amount Required:________
    5. Duration:_____
    6. Gender:_____
    7. Occupation:________
    8. Monthly Income:_______
    9. Date Of Birth:________
    10.Telephone Number:__________

    Regards.
    Contact Him At :creationfinance7@gmail.com
    WhatsApp Number +919717357946

    ReplyDelete
  10. Are you in need of a loan? Do you want to pay off your bills? Do you want to be financially stable? All you have to do is to contact us for more information on how to get started and get the loan you desire. This offer is open to all that will be able to repay back in due time. Note-that repayment time frame is negotiable and at interest rate of 3% just email us (creditloan11@gmail.com)

    ReplyDelete
  11. This blog is very nice and information is very useful Thanks For Sharing this information
    capitalheight

    ReplyDelete
  12. Do you need Finance?
    Are you looking for Finance?
    Are you looking for a money to enlarge your business?
    We help individuals and companies to obtain loan for business
    expanding and to setup a new business ranging any amount. Get a loan at affordable interest rate of 3%, Do you need this cash/loan for business and to clear your bills? Then send us an email now for more information contact us now via Email:maxcreditfinance@googlemail.com

    ReplyDelete
  13. Do you need Finance?
    Are you looking for Finance?
    Are you looking for a money to enlarge your business?
    We help individuals and companies to obtain loan for business
    expanding and to setup a new business ranging any amount. Get a loan at affordable interest rate of 3%, Do you need this cash/loan for business and to clear your bills? Then send us an email now for more information contact us now via Email:maxcreditfinance@googlemail.com

    ReplyDelete