SYFE SRS Launch Promo 🌟 Promo Code: ASTUTE24 - joshtan.link/syfe Promo Mechanics: Earn up to S$400 in cashback rewards when you invest in our Core Equity100 or Income+ SRS portfolios. Eligibility: Open to both new and existing Syfe users. **** ENGAGE Josh Tan on a fee for full retirement planning NOW - Hear the IMPROVEMENTS you can make IMMEDIATELY! ► www.theastuteparent.com/josh-tan
perhaps im short sighted but dont see much benefits from topping up SRS for uncertain return (due to investing required) against the monthly income tax savings?
Guys if you are new here please listen to this guy. If i had done half the things he had suggested in the past 5 years i would be in a better place..😅😅 but well better late than never
May I check what the interest rate of SRS account? Is it worth for the initial saving from tax relief comparing to the long term interest rate return at 3%?
The conundrums with SRS, giving the tax relief one entitled, would outweigh the gains from let's say US-based stocks e.g.. S&P500? I don't see an in depth comparison on the above thou
Noted. Will share more in a future episode. Check out - Here's Why I'd Get To $1m In SRS 👏! Get Tax Relief And Aim For It Too! - ruclips.net/video/INnURuCkTHI/видео.htmlsi=ma6lov84crQPzoOf
Hi Shawn, it deepends on your Chargeable income. It is 60k and above at 7% level, I think the savings is not bad already. 7% of $15,300 relief is $1071 savings
Yes SYFE SRS Launch Promo 🌟 Promo Code: ASTUTE24 - joshtan.link/syfe Promo Mechanics: Earn up to S$400 in cashback rewards when you invest in our Core Equity100 or Income+ SRS portfolios. Eligibility: Open to both new and existing Syfe users.
I use L&T who i worked with as an intern when i was young. Happy to refer to them. Do drop us an email to josh.tan@theastuteparent.com and my assistant will help further k
What about SRS for a foreign/EP holder? been here 13+ years, plan to settle down but still not sure if that would mean I am here till age 60+ or not, so there is a 50/50 chance I will pull the money out before. The money I have allocated for this would be used for REIT/FD investments anyways, so trying to understand if I should invest this via SRS account instead? The limit for foreigners is 35k so tax savings would be quite a lot.
Hi, regardless of where you would reside, I guess its best. to ensure that the amount is not needed for next 10years? So that withdrawal penalties are avoided, hope its answers =)
@@joshconsultancy you are not being honest for foreigners....taxable gain of 35k investment for let's say 10 years vs upfront tax of 35k...unless you are expecting a measly ROI 4-5% annual...with US tech investment average 15%...it's better to pay tax upfront and avoid the taxable gain upon withdrawal
Acceptable risk maybe we should redefine. If there is enough horizon, go with equities and tolerate volatility k =) Check out core equity 100 portfolio from our sponsor SYFE today SYFE SRS Launch Promo 🌟 Promo Code: SRSAST joshtan.link/syfe Promo Mechanics: Earn up to S$400 in cashback rewards
To my best knowledge k, smash the subs and LIKE stocks cannot be withdrawn. Need to sell to cash first. Then cash withdrawal (note of SRS withdrawal rules) to go to branch to set up withdrawal request to bank account. Hope it answers k =)
@@joshconsultancy this is a common theme i see in a lot of blogs/videos...everybody talks about SRS and investing the money deposited. But very very few explored in detail, the withdrawal process and the associated potential pitfalls/hiccups.
If you use the money in SRS to invest and when you reach the withdrawal age, the total SRS amount exceeds S$400k. Does that mean that you will be tax on your investment return? Assuming no change in tax rates.
Josh, do we need to sell the invested amount using SRS if age is 63 for withdrawal? Can we defer the withdrawal since the run way reaching 63 is about 10years from now?
You don’t need to withdraw immediately, but it’s crucial to fully withdraw all funds within the 10-year period. Any remaining funds after age 73 will be fully taxed as a lump sum. • During the withdrawal period, 50% of each withdrawal is taxable as income, so staggering withdrawals to stay within lower tax brackets is ideal. It seem the withdrawn years reduce to 8years if defer 2 years later
@joshconsultancy I work in a stable hospital healthcare work. Mid class income. Have all the benefits from a govt body. I have most of my money in US stocks, doing well for now. Properties are basically paid off
The issue is all the returns and dividends stuck in SRS. Will it be better if one build a portfolio that able to pay off all the income tax and have exceed cash?
@@joshconsultancy to be honest, I believe those that are able to top up yearly and invest srs. Majority would not have any issue for their retirement or managing their wealth.
When garment announced SA to cease in 2025 for people above 55, u took all of my SA out which I shielded and put it in DBS share at 33 and my oh my, what a % return it has been since then, laughing my way to the bank 😂
Annual withdrawal of 40k after 63, is provided when you got no other income, to avoid tax. High income earners usually is workaholic, or rather most ppl dont fully retire in their 60s. They will still be open to earn some incomes , e.g advisor of company , take a pay cut and do lower stress job etc, which still led to increase in chargeable income. and SRS withdrawal cant be delay right?
After you finish withdrawing your SRS money at the age of 63 onwards , what will happen to the SRS account ? Can withdraw for more than 10 years ? Etc withdraw until age 85
Hi the account will close in 10y after the first withdrawal is made. For unwithdrawn amount from an annuity, it will not be “deemed” withdrawn at year 10 for tax counting. But for investments in funds and stocks it will
@@joshconsultancyif I may confirm, does that mean that only the monthly payouts from the annuity within the 10y withdrawal will be counted towards withdrawal amount for the 50% taxable amount but beyond that, there is no tax at all on the payouts?
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
SYFE SRS Launch Promo 🌟 Promo Code: ASTUTE24 - joshtan.link/syfe
Promo Mechanics: Earn up to S$400 in cashback rewards when you invest in our Core Equity100 or Income+ SRS portfolios.
Eligibility: Open to both new and existing Syfe users.
****
ENGAGE Josh Tan on a fee for full retirement planning NOW - Hear the IMPROVEMENTS you can make IMMEDIATELY!
► www.theastuteparent.com/josh-tan
can SYFE invest in individual REIT using SRS?
What do you put your SRS in and what are the fees. Please share how you plan to invest the 15300 for this year
perhaps im short sighted but dont see much benefits from topping up SRS for uncertain return (due to investing required) against the monthly income tax savings?
There is already upfront benefits in tax savings esp at a higher tax bracket 👌🏻
@@joshconsultancyeg 20% tax bracket of 15,300 is 3k but using 15k…. 😅 nonetheless this is useful for thoughts!
Guys if you are new here please listen to this guy. If i had done half the things he had suggested in the past 5 years i would be in a better place..😅😅 but well better late than never
Yes better late than never =)
May I check what the interest rate of SRS account? Is it worth for the initial saving from tax relief comparing to the long term interest rate return at 3%?
Goal is to invest the srs into equities actually
The conundrums with SRS, giving the tax relief one entitled, would outweigh the gains from let's say US-based stocks e.g.. S&P500?
I don't see an in depth comparison on the above thou
There are US equity funds for US exposure if preferred 👌🏻
Not an either or
@joshconsultancy those equities approved for srs e.g.those USA/global etf not that interesting thou
I will be interested to hear your thoughts on how next to take the money out of SRS after 63 and above without paying too much tax.
Noted. Will share more in a future episode.
Check out - Here's Why I'd Get To $1m In SRS 👏! Get Tax Relief And Aim For It Too! - ruclips.net/video/INnURuCkTHI/видео.htmlsi=ma6lov84crQPzoOf
If i havent even hit 100k per year and already age 40+, will SRS still benefit me? All my spare cash US1k into US equities for now every month.
Hi Shawn, it deepends on your Chargeable income. It is 60k and above at 7% level, I think the savings is not bad already. 7% of $15,300 relief is $1071 savings
Don’t bother then
Is the promo code still valid
Yes SYFE SRS Launch Promo 🌟 Promo Code: ASTUTE24 - joshtan.link/syfe
Promo Mechanics: Earn up to S$400 in cashback rewards when you invest in our Core Equity100 or Income+ SRS portfolios.
Eligibility: Open to both new and existing Syfe users.
Hi Josh, what platform do you use to invest SRS in REITs?
I use L&T who i worked with as an intern when i was young.
Happy to refer to them. Do drop us an email to josh.tan@theastuteparent.com and my assistant will help further k
Josh it will be nice also if you can share how you will deaccumulate your SRS when you reach the age to redraw from SRS
It’s still 20+ years time ;)
I might convert to an annuity when nearer
What about SRS for a foreign/EP holder? been here 13+ years, plan to settle down but still not sure if that would mean I am here till age 60+ or not, so there is a 50/50 chance I will pull the money out before. The money I have allocated for this would be used for REIT/FD investments anyways, so trying to understand if I should invest this via SRS account instead? The limit for foreigners is 35k so tax savings would be quite a lot.
Hi, regardless of where you would reside, I guess its best. to ensure that the amount is not needed for next 10years? So that withdrawal penalties are avoided, hope its answers =)
@@joshconsultancy you are not being honest for foreigners....taxable gain of 35k investment for let's say 10 years vs upfront tax of 35k...unless you are expecting a measly ROI 4-5% annual...with US tech investment average 15%...it's better to pay tax upfront and avoid the taxable gain upon withdrawal
Josh’s which SRS investment product the better and high return with acceptable risk ..? How about Endowus customise ETF????
Acceptable risk maybe we should redefine. If there is enough horizon, go with equities and tolerate volatility k =)
Check out core equity 100 portfolio from our sponsor SYFE today
SYFE SRS Launch Promo 🌟 Promo Code: SRSAST joshtan.link/syfe
Promo Mechanics: Earn up to S$400 in cashback rewards
Do you suggest topping up SA or SRS for tax relief? Seeing how SA is a somewhat guaranteed 4% (+1% for above $60K)
Both to do but if 1, I prefer SRS over SA.
SRS can be invested into equities and has more flexibility =)
Interesting, how ppl can contribute SRS at age 30? Thought it likely at age 40.. especially 30 onwards many expenses such as housing, child’s etc….
Start early. I started contributing early too
If I bought stocks with SRS funds, how does one "withdraw" from SRS upon retirement?
To my best knowledge k, smash the subs and LIKE
stocks cannot be withdrawn. Need to sell to cash first.
Then cash withdrawal (note of SRS withdrawal rules) to go to branch to set up withdrawal request to bank account.
Hope it answers k =)
I read somewhere that there's no need to sell the stock. Just need to do a transfer to CDP account.
@@joshconsultancy this is a common theme i see in a lot of blogs/videos...everybody talks about SRS and investing the money deposited. But very very few explored in detail, the withdrawal process and the associated potential pitfalls/hiccups.
If you use the money in SRS to invest and when you reach the withdrawal age, the total SRS amount exceeds S$400k. Does that mean that you will be tax on your investment return? Assuming no change in tax rates.
Yes. As shared if you draw out like $60k a year, $30k is taxable which is a small amount
@@joshconsultancyDoes the tax only on seed amount we put in SRS? Or including the growth part of investment? Thanks
@@joshconsultancyoh, even the person have 600k, 60k per year with 30k tax is not allow. It’s still worth it and treat SRS like force saving??
Josh, u into syfe 100% ??? The management fee is worth it?
Josh, do we need to sell the invested amount using SRS if age is 63 for withdrawal? Can we defer the withdrawal since the run way reaching 63 is about 10years from now?
Not forced to sell at age63. You can start the withdrawal later.
Once start though, 10y window starts
You don’t need to withdraw immediately, but it’s crucial to fully withdraw all funds within the 10-year period. Any remaining funds after age 73 will be fully taxed as a lump sum.
• During the withdrawal period, 50% of each withdrawal is taxable as income, so staggering withdrawals to stay within lower tax brackets is ideal. It seem the withdrawn years reduce to 8years if defer 2 years later
Can you elaborate more on annuities with SRS that help to minimise the amount of tax we need to pay after we start drawing down from SRS
In annuity plan the payout can be stretched lifelong past the 10y window 👌🏻
I am 52, self employed for a long time. Have a full time job now but SRS is low. No liability somehow , you still advise to top up?
Hi depends on chargeable income level declared 👌🏻 what business do you work in?
@joshconsultancy I work in a stable hospital healthcare work. Mid class income. Have all the benefits from a govt body. I have most of my money in US stocks, doing well for now. Properties are basically paid off
The issue is all the returns and dividends stuck in SRS. Will it be better if one build a portfolio that able to pay off all the income tax and have exceed cash?
Stuck until age62/63. Its meant for retirement anyway =)
@@joshconsultancy to be honest, I believe those that are able to top up yearly and invest srs. Majority would not have any issue for their retirement or managing their wealth.
@@wc2671quite true
I have rental income.. a year around $65000 so i will be taxed for SRS if I withdraw $10k per year right?
yes it will add.
$10k withdrawal will add only $5k, do note k. Hope it helps
If I have max up my relief cap of 80,000 does it still work if i invest in SRS?
Cannot. Cap $80k applies 👌🏻
When garment announced SA to cease in 2025 for people above 55, u took all of my SA out which I shielded and put it in DBS share at 33 and my oh my, what a % return it has been since then, laughing my way to the bank 😂
SA?
@ yes SA , typo, in a way I thank the garment for this
Annual withdrawal of 40k after 63, is provided when you got no other income, to avoid tax. High income earners usually is workaholic, or rather most ppl dont fully retire in their 60s. They will still be open to earn some incomes , e.g advisor of company , take a pay cut and do lower stress job etc, which still led to increase in chargeable income. and SRS withdrawal cant be delay right?
Can be delayed indefinitely actually 👌🏻
Once withdrawal made for example 75 then the window starts
Money in your pocket is more important ... hardship is coming .i do not agree.
Plan long term k. It important for success 👌🏻
is it a good idea to top up at beginning of year or towards the end of year?
Maybe Towards end so that you know the years income has been clocked
After you finish withdrawing your SRS money at the age of 63 onwards , what will happen to the SRS account ? Can withdraw for more than 10 years ? Etc withdraw until age 85
Hi the account will close in 10y after the first withdrawal is made.
For unwithdrawn amount from an annuity, it will not be “deemed” withdrawn at year 10 for tax counting. But for investments in funds and stocks it will
@@joshconsultancyif I may confirm, does that mean that only the monthly payouts from the annuity within the 10y withdrawal will be counted towards withdrawal amount for the 50% taxable amount but beyond that, there is no tax at all on the payouts?
RUclips - This is Why US is Falling While China is Rising - Rise of Asia - 26 November 2024 - Geopolitics Upset Plans.