First $14K Income In 2022!

 

I woke up in year 2022 to receive an income of $14.3k in my CPF savings accounts!

It certainly feel great to be able to earn money when I sleep.

Even though CPF monies do not seem to be like real monies, I believe they are still illiquid monies that can be used to fund our retirement in our late lives, purchase properties, pay for education fees of children and pay medical bills.

Here are my CPF interests for 2021:

In total, I received this amount of interests from my CPF savings:

$14,365.69

This is a 14% increase from $12,592.93 which I received in 2021.

The interest of $2.4k earned from Medisave account can easily cover the premiums for Careshield life and Medishield life. In a way, it is possible to enjoy free insurance by using passive income from CPF savings to cover the insurance premiums. This can be achieved only if we bother to top up our own medisave account and strive to hit the maximum limits of $66k in 2022 to let the 4% interest rate do its work. 

I am certainly pleased with this sum of passive income as it certainly boost my net worth on the first day of a brand new year.

Let's charge towards freedom in this Tiger year. Huat ah!!

Thanks for reading. Stay safe and strong always.

With Love and Peace,
Qiongster