👵 👴 Your golden years may still be a diamond in the rough. Let's chat about everything from government schemes to estate planning, and help you reach that future you deserve.
Conversation in Ready for Retirement
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How much money should I save to retire comfortably in Singapore?
I read that we would likely spend lesser during retirement days. With the rising cost of living and inflation, what is a good way to gauge how much is enough?.
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Useful for monthly coverage withoit hussle and waiver fee for traveling account
Thr term and condition on the waiver fee might be useful to me and my siblings and family too
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SRS top up
Better to top up SRS or CPF?
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Cash Needed for Retirement
How much do we need to retire nowadays?
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SRS Invested in Endowment Plan >4% pa
I was lucky to park my SRS funds (not much) in a single premium endowment plan for 15 years, yet to mature, earning more than 4% pa todate guaranteed surrender value! This will help contribute to my retirement funds as another source of income.
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Delayed CPF Topup in 2023
Every end of January, I will topup my CPF. But this year, I decided to delay the topup as I can earn more than 5% interest in high interest rate savings account with a foreign bank. When the bank ended its promo in March 2023, I decided it was time to topup my CPF end of April, not knowing there was another foreign bank offering high interest rate of more than 5%!
Oops, I made a mistake as I could still earn high interest rate of more than 4-5% pa with another foreign bank, though interest will be paid 6mths later.
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Estate Plannning - a Useful Website
I was helping someone about her mum's estate claims and discovered this useful website which I bookmarked
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SRS tax deduction is based on amount placed for the year, inclusive of what you invested for the year or only whats left in your SRS?
Assuming as of Oct 2021, your total SRS contribution for 2021 is 12K, and in Nov 1 2021 you decided to invest it in DBS Savvy 6, will your tax deduction for 2022 will be 12k or just 2k ( balance after you invested 10k)?
I understand that the amount that they eligible for tax deduction is the amount you put in a year before you tax is due. Will they count the ones you invested for that year or just the balance?
Thanks for your input..
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Planning to retire early
Want to find out what are the various way to build and plan for it, i.e. building a passive income.
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Have 5 minutes? Catch up on these 8 CPF Hacks to Grow Your Nest Egg!
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We've seen a few conversations started by you guys here on the best ways to maximise CPF. Here's a mega cheat sheet for you.
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What is the recommended SRS withdrawal schedule to minimize tax?
There are some considerations as to when and how much we should start drawing on our SRS account - we may still have on going passive income from rental, investment, business, etc. and may incur tax. Is there any tool or advice on this matter?
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How best to juice CPF!
Want to know how best to juice CPF returns! anyone can share their journey?
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Prepare for retirement
How much money you propare for retirement?
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Maximising SA interest
I came across the following article. Would be keen to know your view on this approach. This is especially for those who are about to reach 55 years old.
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Balancing between spending and saving
Hi! Would like to find out here how you parents balance between spending on giving the best to your kids and saving for retirement?
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Tax Relief for topping up your spouse RA
Come across a clause in CPF website stating if you top up your spouse RA and your spouse earned more than $4000 in previous year, you will not be eligible for income tax relief, I don't understand the rationale behind this policy, can someone please to enlighten?
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Any FI/RE walker here?
Planning for early retirement?
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How much is sufficient for retirement?
How do you estimate the amount for retirement? Always have this question if it's too little or too much
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