A $2k Ang Bao I give to my future self on CNY Eve

After my first top up to CPF SA in 2021, today on CNY eve, I am giving myself another $2k Ang Bao into my CPF SA to round up the $7k Retirement Sum Top Up (RSTU) scheme.

At a compounded 4% interest rate p.a, this $2k will balloon to $6,486 in 30 years time in 2051.

I also get to save taxes i.e 7% of $7k at $490 for 2021. If I invest this $490 for 30 years at 5% yield, it will become $2117 in 30 years time in 2051.

In total, I am giving my future self a big Ang Bao of $8,604 from this $2k top up into CPF SA. Huat ah!

Thanks for reading. Wishing everyone a prosperous Chinese Niu Year!

With love & peace,

Qiongster