Happy New Year 2025!
Interests earned in 2024 have been credited to our CPF accounts today.
As the CPF website is on maintenance from 12am to 8am today, the first thing I did after waking up is to check my CPF balances.
Pleased to receive more than $20k of free money!
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 or insurance.
Here are my CPF interests for 2024:
In total, I received $20,459.49.
This is an 11% increase from $18,409.68 for 2023.
The interest of $2.9k 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 $75.5k in 2025 to let the 4% interest rate do its compounding work.
I am certainly satisfied with this source of passive income which certainly boosts my CPF total and net worth on the first day of a brand new year.
