As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Wednesday, 3 January 2018

Turning 55 - and enjoying financial freedom (8)


Read? Turning 55 - and enjoying financial freedom (7)


Read? 1M65 CPF OA Possible Or Not???


Counting interests no stress unlike collecting dividends as Panadols when sitting on paper losses.

Uncle8888 has already withdrawn $23K from CPF SA and CPF OA in Dec 2017


CPF OA = $21,478 +  $3,267 = $24,745

CPF SA = $1,522 +  $139 = $1,661

CPF MA = $2,145

CPF RA = $7,556

Total = $36K or $3K per month


Since there is no more mandatory CPF contributions after his retirement from full-time job as employee and he still says NO to voluntary CPF top up to all 3 CPF accounts. 

Currently; he only contributes to CPF MA as self-employed for his 8 HWW + XX Hours Variable WW so that he will qualify for Workfare as low income worker. This is money from Government and not CPF interests!


This is how he accumulates $1M in CPF OA!

Voluntary CPF Top Up























15 comments:

  1. Hoho ... my test comment succeeded ... been having disappearing comments for past few weeks :P

    Anyway good job Uncle8888!!! :)

    Oh ... I learnt something new ... interest from RA can also be withdrawn.

    I'm guessing this only applies to those on MSS and not those on CPFLife??

    ReplyDelete
  2. RA can't withdraw. Only SA and MA if exceeds BHS

    ReplyDelete
    Replies
    1. Ooops my bad ... read wrongly ... tot u withdraw total $36K.

      For a min there tot ah gong became so generous hahaha!!

      hmmm you know wat?

      From your retirement funds, many people may be better off focusing on their jobs, skills & income/sales-generating abilities AND savings, rather than on investing / trading!! LOL!!!

      Problem is this requires a stable job or industry, at least median income or higher, no splurging on property, using cash to service mortgage and/or topping up CPF... But nowadays people want to FI before 40 and not at 55 or 60 hoho!!

      Off-topic: Buffett confirmed to have won bet against active-investing hedge funds.

      Good job on him to also more than double the cash pot for charity to USD2.2M

      Delete
  3. what is this WW and Workfare stuff?

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

    ReplyDelete
  5. Hi Uncle CW8888,
    Congrats !!🥂🥂👏👏 Guess this is one of the more stable and consistent cash flow from your ‘3 taps system’....
    Cheers !!! :)

    ReplyDelete
    Replies
    1. We need decades to see the effect of 2.5% CAGR

      Delete
  6. Both Bay Chow.

    Somemore got WW or Work Fare.

    ReplyDelete
  7. Hi Uncle CW,

    Huat ah! Power! But nowaday all use CPF to pay house. Even mandatory contribution also doesn't have much compounding effect already.

    ReplyDelete
  8. Even you have uses CPF to pay house. Your CPF OA is compounding at 2.5% CAGR in your retained interests in property value of your house when you sell it before 55 as payback to CPF OA as Accrued interests unless your SA has exceeded FRS.

    In another word; you still have that compounding CPF OA interests effect.

    ReplyDelete
  9. Uncle, hv u tried to go CPFB and withdraw interest earned in SA for Dec 17 ?

    ReplyDelete
    Replies
    1. Don't think I will try this year to test the training received by CPF counter staff. :-)

      Delete
    2. Just withdraw $139 interests in SA should not be an issue as it would not hit the principal in SA and OA.

      Delete

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