After a decade of working and manipulating with my CPF savings, my CPF balances have crossed SGD500k.
This is a psychological milestone that I am happy about.
Definitely there will always be CPF naysayers who claim CPF monies are locked up and not our monies. Goal post can keep shifting as Full Retirement Sum keeps increasing to ensure most peasants will never get to touch their own CPF savings until they end up in grave and so on.
I still believe that CPF is our monies as we could use it to pay for housing, education and medical needs other than food, clothes, car and entertainment.
How I managed to hit 0.5M3X?
a. I started working odd jobs in my teens and got CPF contributions.
b. I also transferred funds from OA to SA when I started working after graduation from university.
c. I made CPF SA contributions under Retirement Sum Top-Up scheme for tax reliefs.
d. I refunded back the CPF OA amount used for HDB BTO downpayment.
e. I grinded in a job that allows me to hit $6k monthly salary within 6 years of working, to max out both employee and employer CPF contributions.
If I can do it, anyone can do it too. In fact, I slowed down the transfer of OA to SA in order to slow down hitting CPF SA Full Retirement Sum early so as to enjoy a few more years of RSTU.
Thanks for reading!
Many successful investors (AK, 1M65, Adam) said CPF is the best investment instrument Singaporean had, only those low life who can't even manage their life and income, constantly making up conspiracy stories to find way to access it, once the lost it all they will then blame the government, the society and Vladmi Putin for creating their hardship :p
ReplyDeleteI sort of agree. Even though everyone starts off from different grounds, every human owns the same 24 hours of precious asset everyday. It is up to us to manage our own physical, intellectual and financial well-being.
DeleteCongratulations Qiongster.
ReplyDelete0.5M35? is an impressive achievement. Well done.
With your savings trajectory, you will have no problem attaining 1M49! And perhaps 2M60!
I would like to introduce you to fellow "CPF Wealth Trees" here : https://t.me/Loo1M65/273413
Please take a look. AK71's CPF trees is inside (the tree with the glow)
Thanks! 1M49 would be a great supplementary tool for FIRE cause. 2M60 seems better but it means another decade of slavery and corproate rat race.
Delete