After the CPF contribution for my Mar 2022 income was credited, below are my CPF account balances.
My CPF SA has surpassed $192k!!!
$192k is the CPF full retirement sum in 2021.
Hence, officially I have achieved this important milestone of FRS.
My CPF SA will be able to compound automatically at 4% to beat future FRS figures, assuming FRS increase at below 4% rate perpetually.
This will guarantee that I will be able to withdraw excess CPF savings above FRS from my CPF when I turn age 55 in 2 decades time.
Although I am happy to have conquered this feat, I am disappointed that I will no longer be able to participate in Retirement Sum Top-Up into my CPF SA from next year onwards.
This will result in lesser tax relief and hence paying more taxes to IRAS.
After all, paying too much taxes is a rich man woe, which is still financially better than not earning enough income for spending nor being eligible to pay tax.
I hope to share about how I managed to hit CPF FRS in mid 30s in a future blog post soon. Do stay tuned.
Thanks for reading.
As always, stay safe and remain strong.
22 comments:
Congrats Qiongster! How did you gather so much in your OA also ?! Looking forward to learn more about your CPF strategy :)
Cheers,
P
Thank you P. Hope to share soon.
Cheers.
Can't wait for the next article.
I shall try to post tmr.
Cheers.
Sweet! Congrats!
Thanks Kevin!
Congrats! Hope to hit the same achievement by mid 30s too!
Thanks Cherry! You will do it too!
Can I take out my money from the CPF ?
Can you use your CPF money to pay property, hospital and invest?
Congratulations on your achievements. Hope to learn how you attain such a high sum in your CPF OA too.
Thanks wckk!
I believe there's a typing error....isn't it the SA earning 4% interest and not the OA?
Thanks for spotting the typo. Has rectified it.
Wow how did you do it? Super high income or through top ups? Share lah. :)
Hi Henry, I shared it in my latest post.
How much savings you have and SRS
Hi Anonymous, I shared my latest net worth update here: https://liverichlifefree.blogspot.com/2022/03/net-worth-update-mar-2022.html
For lower income...doesn't have that much In OA..including MA..someone doesn't fall sick...can recommend Me good medicine/supplements for heath...hospital fees expensive...
Break free of the poverty mindset and switch to an abundance mindset. Work on more and higher income. The best things in life are free - exercise, vitamin d from sun, minerals and vitamins from fruits and vegetables. Prevention is better than cure.
Wow at 35... that's very commendable
Thank you. Everyone can do it too!
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