This conversation is for people who are generally doing quite well and healthy. What about people who urgently need the money for an emergency need? Cancer chemo? Children’s serious illness? Just asking.
@@David-qf7zg Start with 200k (OA+SA+MA) at 2009, with constant contribution, interest gains from CPF accounts and cash top up my RA to ERS, it is possible to hit 1 mil saving after 15 years.
To elaborate on the complexity, ask which finance expert, economist and accountant in SG who dare to claim they know it fully and can answer any question on the complex monster
Why do anyone wish to top up cash into CPF? Firstly, tax in Singapore is really not an issue; no capital gain tax n interest is also tax free (conceptually). Secondly, CPF balances is not cash on hand... Thirdly, interest 4%...probably equal inflation or 1% above. Got mortgage, take the available cash n pay off your mortgage. Buy bank shares, yield 3+% n got chance of capital gains. Unless there is significant tax advantage (which I don't see), why top CPF with cash!
If cpf was so good, why did so many dislike it? Was the public policy too complex for it to be properly communicated to the peasants? I don't think I can say it's a public policy explanation failure because I am politically correct
If you're nearing retirement (maybe ~5 years away), they actually will give an estimate on their website. Obviously if you're younger it's harder to project that far away even for CPF Board, but it's not hard to project based on today's amounts, projected forward.
Good day, thanks for seeking clarification here. As far as we know, this stacks. The cap to CPF is tied to each job. So if you have 4 jobs, each job as it’s own cap so it is $37k x 4 We are working to get CPF on the show, so by then we can one time good one clarify everything. So if you have more questions please drop them here 😎👍🏻 Or email to hello@thefinancialcoconut.com
@@janicetan4626I have 2 employers paying me cpf every month but at the end of the year the total contribution cap is still $37400 dun know why, balance amount allow to top up for tax saving purpose think the Board using $37400 cap to calculate and show me the balance
All the talks about SA resulted in it's demise. All the talks about JB housing also seeing the gains will be lost to some extent. *Khiang Teo Hoh. Mai Gay Khiang*
he didn't reveal how much he put in over and above the initial sum, per annum. from 30 to 45, that's 15 years. even at 4%, say he had 100K at 35, he needs to put in roughly 40.94K a year. (That's I think more than the median salary a year in SingaPORE). IS that a reasonable amount? Also, the 4% interest is capped at 200K, so you only get 2.5%, INSTEAD OF the 4%. given that a big proportion of that sum is in medisave. You can't use it until you are sick. even if we use his original assumptions, 100K, 30 years compounding, you still need to contribute 8.2K per year. That means a salary of 1850SGD a month. Which begs the question: how did the person acquire an initial capital of 100K to end up with a salary of 1850sgd a month subsequently? I believe the people who managed to do that will realise that a sizeable chunk is locked up in the medisave and special. Also, you have to pay your apartment using cash all these while and not use cpf to pay for your flat. The proof of the matter is you look at the distribution of CPF versus age group. The proportion of people having 1 million in the CPF is very small. This guy is a joke. It is like saying why don't you buy 1000 USD worth of nivida share at its ipo and forget about it, 30 years later, you got 3 million usd. is it something realistic to be done?
The value proposition of the CPF is for people who knows nothing about investment including those who thinks they know a lot about investment but actually they don't, a risk free rate of return until you reach 55 years old.
You do know the cpf operates like the 401k or the uk’s retirement model? Its there as the government’s way to support citizens for retirement. Its used as a necessary supplement not a replacement for your investments.
no body knows about investments....proof great depression real estate/tech free fall...fx depreciation n high inflation....cpf fd is better than banks, bonds, shares , fx.etc..in troubled times... financial experts r 99% making an emplotees' wage...they r just as clueless as u....
I’m not sure if anyone sees any benefit in working like a dog juggling 2 jobs just to lock in more money in CFP. Quite likely they die doing that before they can benefit from the compounding.
Did I hear the word LOOPHOLE?? IF so I won't be surprised if something is Designed with so Much perceived Complexity where most cpf members still do not fully understand it. But I need to be Politically Correct and be seen to be so. So, this perceived Complexity I would say is a misperception and complexity in a tweaked system suggests a weakness but I won't call it LoopHole. A good engineer and designer or architect knows complexity usually hides a flaw or loophole
CASH IS KING ..these extremely uncertain times wars n all that don't listen 2 so called financial experts...keep all cash.. no property/stocks invesments......ride the storm n stay alive
@@Longtermalwayswins sg pa inflation rate 3.41%...cpf pa fixed deposir 4.21%.... banks'p.a. f.r 3.23%%%......now who is the stupid one ???..u lose 30/45% on shares... or flat depreciation is 20%..... plus property tax ..liens, losses...crying alll night....
@@raymondwan-k4w s&p500 year on year gains over the last 100 years AVERAGED at 10%. But u prefer -3.4% on sg inflation yr on year. Your choice. Good luck on being a dumb a$$
![Ways to FIRE: Real Stories from Middle-Class Corporate Professionals [Chills 163 ft Matthew & Tony]](http://i.ytimg.com/vi/Iv9vJu95X80/mqdefault.jpg)
![Ways to FIRE: Real Stories from Middle-Class Corporate Professionals [Chills 163 ft Matthew & Tony]](/img/tr.png)
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very candid & frank talk. alamak you mention don"t buy singpost.
Informative videos. Can Mr Loo share where we can buy NASDAQ ETF in SG?
You can buy in Moomoo.
can we do 2-4x BRS for CPF LIFE or strictly 2x 4x for FRS and ERS respectively?
This conversation is for people who are generally doing quite well and healthy. What about people who urgently need the money for an emergency need? Cancer chemo? Children’s serious illness? Just asking.
Key is not how much you have inside CPF...is how u can withdraw or use CPF when you are old.
Everyone's health and lifespan and situations are different. But it is one size fits all. This is the issue
I managed to top up SA till minimum sum (around 100k) at 2009. Going to hit 1m this year at the age of 56.😉
$100k compound 15 yrs reach $1m?
@@megasunn0204 Include 37% monthly contributions.
Lmao more like you top up to 1m .
100k I give you 10% interest compound not even touch half a mil . Lol
@@David-qf7zg Start with 200k (OA+SA+MA) at 2009, with constant contribution, interest gains from CPF accounts and cash top up my RA to ERS, it is possible to hit 1 mil saving after 15 years.
Nice to see Anthony more often !
Anthony will know about this 🤭👍
If cpf changes after Loo puts in $400k, will he still own up for what he claimed?
But Rode is blocking a large part of you guys
Early stage CPF totally doesn’t compounded want’s reaches 55 year old member can withdraw the amounts fully
Mr Loo!!!! Have him on TFC W&S more often too!!
you can disturb him about it? hehe I am sure we will get him on!
Is Reggie the same guy who advised on not opening cafe before?
To elaborate on the complexity, ask which finance expert, economist and accountant in SG who dare to claim they know it fully and can answer any question on the complex monster
Why do anyone wish to top up cash into CPF? Firstly, tax in Singapore is really not an issue; no capital gain tax n interest is also tax free (conceptually). Secondly, CPF balances is not cash on hand...
Thirdly, interest 4%...probably equal inflation or 1% above.
Got mortgage, take the available cash n pay off your mortgage.
Buy bank shares, yield 3+% n got chance of capital gains.
Unless there is significant tax advantage (which I don't see), why top CPF with cash!
If cpf was so good, why did so many dislike it? Was the public policy too complex for it to be properly communicated to the peasants? I don't think I can say it's a public policy explanation failure because I am politically correct
good point diversification
But when you call the CPF office to know how much money you will receive they tell you they don’t know
If you're nearing retirement (maybe ~5 years away), they actually will give an estimate on their website. Obviously if you're younger it's harder to project that far away even for CPF Board, but it's not hard to project based on today's amounts, projected forward.
Oh, I thought even if u have 4 jobs, the annual CPF contribution remains $37 k per year per member. And not $37k x 4 jobs?
Kindly clarify. Thanks
Good day, thanks for seeking clarification here. As far as we know, this stacks. The cap to CPF is tied to each job. So if you have 4 jobs, each job as it’s own cap so it is $37k x 4
We are working to get CPF on the show, so by then we can one time good one clarify everything. So if you have more questions please drop them here 😎👍🏻
Or email to hello@thefinancialcoconut.com
I know people who receive two sources of CPF contribution from two different jobs. It is allowed.
@@janicetan4626I have 2 employers paying me cpf every month but at the end of the year the total contribution cap is still $37400 dun know why, balance amount allow to top up for tax saving purpose think the Board using $37400 cap to calculate and show me the balance
All the talks about SA resulted in it's demise.
All the talks about JB housing also seeing the gains will be lost to some extent.
*Khiang Teo Hoh. Mai Gay Khiang*
he didn't reveal how much he put in over and above the initial sum, per annum. from 30 to 45, that's 15 years. even at 4%, say he had 100K at 35, he needs to put in roughly 40.94K a year. (That's I think more than the median salary a year in SingaPORE). IS that a reasonable amount? Also, the 4% interest is capped at 200K, so you only get 2.5%, INSTEAD OF the 4%. given that a big proportion of that sum is in medisave. You can't use it until you are sick.
even if we use his original assumptions, 100K, 30 years compounding, you still need to contribute 8.2K per year. That means a salary of 1850SGD a month. Which begs the question: how did the person acquire an initial capital of 100K to end up with a salary of 1850sgd a month subsequently? I believe the people who managed to do that will realise that a sizeable chunk is locked up in the medisave and special. Also, you have to pay your apartment using cash all these while and not use cpf to pay for your flat.
The proof of the matter is you look at the distribution of CPF versus age group. The proportion of people having 1 million in the CPF is very small. This guy is a joke. It is like saying why don't you buy 1000 USD worth of nivida share at its ipo and forget about it, 30 years later, you got 3 million usd. is it something realistic to be done?
Very hard to understand this Singlish style of talking. :(
Let us get more good stuff around CPF in due course! Do you have specific questions you would like to be answered?
Mr Loo!!!!
😅 clearly a fan! Haha
The value proposition of the CPF is for people who knows nothing about investment including those who thinks they know a lot about investment but actually they don't, a risk free rate of return until you reach 55 years old.
You do know the cpf operates like the 401k or the uk’s retirement model? Its there as the government’s way to support citizens for retirement. Its used as a necessary supplement not a replacement for your investments.
no body knows about investments....proof great depression real estate/tech free fall...fx depreciation n high inflation....cpf fd is better than banks, bonds, shares , fx.etc..in troubled times... financial experts r 99% making an emplotees' wage...they r just as clueless as u....
@@Longtermalwayswins that's not right, 401k is full risk/reward, cpf, mostly you just get the fixed coupon
@@hatchegg80 you can invest your cpf in index funds or other asset classes as well. Those are risk not guaranteed.
I’m not sure if anyone sees any benefit in working like a dog juggling 2 jobs just to lock in more money in CFP. Quite likely they die doing that before they can benefit from the compounding.
Top up cpf by cash is for tax saving purpose
In SG I believe it’s enough to stress to the eye balls with one job; how on earth can one handle another job😮😮😮
At 65 all of us can withdraw 20% of total amount from CPF
Mr Loo jiak a lot of good food in JB, belly come out riao kekekeke
haha leading the good life ? haha
SA gone to the Loo. Loo all the SA. LooSa
Get Mr Loo back to teach more kung fu!
Alright 😅👍
Bitcoin is 111% up for 1 year, Old Man.
Did I hear the word LOOPHOLE?? IF so I won't be surprised if something is Designed with so Much perceived Complexity where most cpf members still do not fully understand it. But I need to be Politically Correct and be seen to be so. So, this perceived Complexity I would say is a misperception and complexity in a tweaked system suggests a weakness but I won't call it LoopHole. A good engineer and designer or architect knows complexity usually hides a flaw or loophole
Not all wrong or all bad? Wrong is wrong. Right is right. Half wrong is still wrong
CASH IS KING ..these extremely uncertain times wars n all that don't listen 2 so called financial experts...keep all cash.. no property/stocks invesments......ride the storm n stay alive
Good luck on enjoying all the inflation lol
@@Longtermalwayswins sg pa inflation rate 3.41%...cpf pa fixed deposir 4.21%.... banks'p.a. f.r 3.23%%%......now who is the stupid one ???..u lose 30/45% on shares... or flat depreciation is 20%..... plus property tax ..liens, losses...crying alll night....
@@raymondwan-k4w s&p500 year on year gains over the last 100 years AVERAGED at 10%. But u prefer -3.4% on sg inflation yr on year. Your choice. Good luck on being a dumb a$$
10:04 now...how to replicate self for 3-4 jobs :')
🥲🥲🥲
the tea set quite sah kee
Atas right! haha
08:53 CPF at birth! woot woot!
Is that the ultimate savings plan? Haha 😆