The first passive income in 2021

After waking up on the first morning of Year 2021, the very first thing I did was to check my CPF account balances.

Yeah. This is in anticipation of the amount of interests that will be earned for 2020.

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, pay medical bills.

Here are my first passive income streams in 2021:

OA Interest: $4,307.01

SA Interest: $5,909.75

MA Interest: $2,376.17

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

$12,592.93

This is a 17.9% increase from $10,679.05 which I received in 2020.

On a side note, I noticed that the interests earned from Medisave account can easily cover the premiums for Careshield life ($165 for me) 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 helped if we bother to top up our own medisave account and strive to hit the maximum limits of $60k in 2020 or $63k in 2021 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 new year.

Let's charge towards freedom. Huat ah!!

Thanks for reading. Stay safe and strong always.

With Love and Peace,
Qiongster