Happy New Year 2023!
The first thing I did when I woke up today is to check my CPF savings accounts.
Very happy to receive more than $16k of interests from CPF!
Another important step in the journey towards financial freedom and retirement.
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 2022:
In total, I received this amount of interests from my CPF savings:
$16,739.56
This is a 16% increase from $14,365.69 which is received for 2021.
The interest of $2.6k 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 if we bother to top up our own medisave account and strive to hit the maximum Basic Healthcare Sum limit of $68.5k in 2023 to let the 4% interest rate do its compounding work.
I am certainly pleased with this sum of passive income as it certainly boost my CPF total as well as net worth on the first day of a brand new year.
Let's hop and bounce towards financial freedom in this Rabbit year. Huat ah!!
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