I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this

@eadad4371

Жыл бұрын

Not quite long I started investing. I'm very curious and need help on how to enhance and increase my returns. Any good investment tips would be appreciated

@skoopqueen.

Жыл бұрын

@@eadad4371 Alright so generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with (REGINA LOUISE COLLARO) an investment advisor who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance. She is quite popular for her services so you might have heard of her. She made me financially stable investing through her help, now I earn on a monthly basis through her passive income strategy...So I’ll advise you do get a good Investment advisor for yourself.

@eadad4371

Жыл бұрын

@@skoopqueen. That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?

@skoopqueen.

Жыл бұрын

@@eadad4371 look her up on the internet and leave her a message she's quite popular for her services as she was recently featured on cnn. She can work with anyone irrespective of where their located

@emeldcentor1474

Жыл бұрын

@@eadad4371 I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me

Thanks for this great channel helping many about cpf. I , like many , do not have cpf contributions and can easily calculate that i wont meet FRS by 55 in the few years time. At most i should be able to reach bit over BRS. In your opinion, should i leave jt this way or top up with fresh funds to earn the interest in SA so that i can have more by 55? Reason for asking is some say, if already little in cpf, dont put in to avoid locking up till 65

@HoneyMoneySG

Жыл бұрын

Thanks Dave, I felt that if you don't need the tax relief, then no point to top up CPF.

@HoneyMoneySG if you have done VCMA from $63,000 to $66,000, does the MA interest accumulated at the start of the year ($66,000) flows into the OA? Since you have hit the max for BHS and FRS

@HoneyMoneySG

10 ай бұрын

Yes correct

Hi chris, I m turning 55 in June. I intended to use my OA for cpf shielding instead of SA. My SA account is slightly below FRS, hence let all SA amt pump to RA. And using OA to buy TBill. May I know what is ur thought

@HoneyMoneySG

Жыл бұрын

What is the point of OA shielding?

@jeanieong7927

Жыл бұрын

@@HoneyMoneySG current Tbill is above 2.5% I need to refinance my mortgage in August. Might think of reducing my mortgage loan

So what interest rate would the spillover sum from MA to OA gets?

@HoneyMoneySG

Жыл бұрын

2.5% in OA

food for thought

@HumdrumSingaporeanREACTS

Жыл бұрын

🤔🤔🤔

Seems the top up to reach FRS is indirectly putting money into OA to get just 2.5% interest. Top up main objective is for tax relief, esp if you have cross certain tax bracket.

Chris, may i top up elderly parent's RA in their 80s to earn higher interest if under old retirement scheme not CPF life? also already named sole beneficiary in their nomination as only child. like to hear yr opinion,pls. thanks

@HoneyMoneySG

2 жыл бұрын

I think it's better to check with CPF, as this are policy admin matters

Thanks for the insights!

You can no longer do RSTU but still can do SRS top up for tax relief?

@HoneyMoneySG

2 жыл бұрын

Yes

How old are you ?

@chrisfraps589

Жыл бұрын

born in year 1991

@LordBagdanoff

Жыл бұрын

How did you manage to hit the max so young

Great sharing

Hi Chris, what do you mean by the 1k you will leave it for careshield life or insurance? I thought tou vcma 3k to max and 4k is into rstu? Thank you for clarifying.

@HoneyMoneySG

2 жыл бұрын

I mean that was my thought process when doing the top-up before 2022 started

is FRS really advisable for those that wants to achieve FI early (ie: before 40)? or BRS is sufficient as they don't need supplementary income after 65, unless one is aiming for fat FIRE when you are older? Won't they rather use the money to invest as much as possible into liquid assets (stocks/crypto)/semi-liquid assets (rent out properties) instead of aggressively topping up CPF (illiquid) to achieve FRS?

@HoneyMoneySG

2 жыл бұрын

I'm pursuing both FRS and FIRE. To me it is a form of diversification and security for retirement funds.

Congratulations. It is great that you fulfilled minimum sum at your early 30. compound interest 72% double and another 72% will four folds. I think when you reach 65 your CPF will reach about 1 million $.

Besides monthly mandatory contribution from MA overflowing into OA, the yearly 4% interest from MA also overflows into OA at the start of the year.

@HoneyMoneySG

2 жыл бұрын

Correct 💯

@HumdrumSingaporeanREACTS

Жыл бұрын

@@HoneyMoneySG 🤔

U sounded too complicated with all the abbreviations and speaking too fast 😅

I’m projecting my FRS to increase to about $300k.

Thanks for the insight Chris! Nice hack on topping up during the deduction window in MA for the tax relief 👍🏼

your BTO havent come you empty out your OA already? brave choice brave choice

Sounds like you are reaching 1M65...you should do an interview or guest appearance with Mr Loo leh.

Like your presentation in sort of concise steps. Simple and easy to understand. 👍🏻

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Maxing SA and MA is a good move this decade. My thesis for conventional indexes is a lost decade given the valuations.

Hi Chris, just a question. Is there a way to know how much in total the tax relief we accumulated for the year? (1) Do we have to meticulously keep track of the tax relief we done eg. via VCMA, Donation etc.? (2) Or is there an easier method for above? Maybe a function in IRAS to check on the above?

@HoneyMoneySG

2 жыл бұрын

Not that i know of, I track it manually

Chris, can start thinking about what to do with your oversized OA and leftover SA when you hit 55. Plus every new year, you will be excited to check your CPF account. Huat ah!

Congrats on your journey to FI so far. Getting married and BTO flat early is of great importance as well so you can do asset progression earlier.