Thank you for sharing! 1. Overreacting to the Closure of CPF Special Account 2. Rushing into Bad Financial Products 3. Relying Solely on CPF for Retirement 4. Ignoring CPF's Role in Financial Planning 5. Blindly Following Influencers' Advice

@Sethisfy

4 ай бұрын

👍🏻 thanks for watching (I’m not talking to AI bot right? 😂)

Your take is usually the most useful one and I always look forward to yours the most. Please never skip an upload because HMSG or KLI already posted something!

@Sethisfy

4 ай бұрын

Thank you for the very, very nice comment 🥲🥲

It’s a big deal cause over the years, the policies keep changing to tighten the Government’s hold on our CPF. People who don’t earn much and little savings have to keep working when most of their money is locked in CPF.

Agreed, CPF is our retirement saving but do not rely soley on it. I will continue to top up until FRS.

@Sethisfy

4 ай бұрын

FRS is about S$1,500 of today’s money per month… not too bad to take care of basic needs 👍🏼

Well done Seth a very mature way to present the case. 👍

@Sethisfy

4 ай бұрын

Thank you for watching and leaving a kind comment 🙏🏼

Thanks for sharing your perspective. Also the part on Kelvin's encouragement for you to share your perspective is really nice.

@Sethisfy

4 ай бұрын

Yes indeed Kelvin has been a very nice colleague and friend in this space! Thanks for leaving a comment which helps to boost my channel 😊

Thanks for ur honesty. Ur videos and write ups i.e. are clear and concise and easily digestible. Kudos

@Sethisfy

4 ай бұрын

Thank you for taking the time to leave such a kind comment 🙏🏼

Great video & great advice ...Thanks for sharing your views

@Sethisfy

4 ай бұрын

Thanks! Glad you enjoyed it and thanks for leaving a comment to help boost the video 🙏🏼

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Really appreciate your honesty and that everyone just looking for views.. Its perfectly fine to make a video, but yeah dont need to overreact to thia kind of thing.. Thank you for your view about this..

@Sethisfy

4 ай бұрын

Thanks for leaving a comment! Much appreciated 🙏🏼

of all finfluencers that i watched about cpf, yours is the only i gave a like! 👍

@Sethisfy

3 ай бұрын

Thank you for your support and kind comment 🥲 Hope the video was useful

@frjuy

3 ай бұрын

@@Sethisfy it gives sort of a balanced, calmer tone/feel, and counters the some what emotional aspect of the topic 🙂

SA shielding aside. With closure of SA at 55, you will lose out on the SA 4% interest from your monthly CPF contribution into your SA if you continue to work past 55.

@Sethisfy

4 ай бұрын

Indeed. I think it’s clear from CPF that if you want 4% p.a. you have to lock it up. And even then 4% is subject to change 🙃

@jompfish

3 ай бұрын

@@Sethisfy Well , if only government given new option for those who wish to retain SA for 4% earned interest to lock for every few 3-5 years than limit on withdrawal “ That would be more fair to these group 55 years & above

1:59 why got thirst trap there! but good analysis again! thanks!

@Sethisfy

4 ай бұрын

Oops, it’s the commenter’s profile pic 😂 Thanks for the comment

Why I cannot transfer my OA to SA ? Any comment?

Totally unrelated but that thumbnail keeps reminding me of Lady Seth thumbnail… GET OUT OF MY HEAD 😂😂😂

@Sethisfy

4 ай бұрын

Steph is flattered 🌚

only $ in your bank account ATM is your $.

Good advice

@Sethisfy

4 ай бұрын

Thank you for watching and leaving a comment 🙏🏼

Although I did shielding but it does not just affect this group (my pay is way below average income 😮‍💨). Imagine if u work from 55-65. Your contributions to SA will be diverted to OA. And you lost some interest there too… Years back we were not encourage to anyhow invest monies using our CPF monies back. Now it change again

@Sethisfy

4 ай бұрын

Yes that is an unfortunate effect of this change too. But I think the same principles should apply. The people who are impacted more are the higher income folks who have more contribution to SA. And even then between 55 to 65 the amount of SA contribution is decreasing. If the drop in interest going from 4% to 2.5% is so drastic it affects one’s retirement plan greatly I think the person has bigger issues surrounding retirement planning than just interest.

If I got one million, can I throw all into CPF to get max cpf life payout? Or they put a hard cap at ERS?

@Sethisfy

4 ай бұрын

Capped at ERS

I thought the max top up (for tax relief) was 8K regardless of one's own or others' CPF accounts?

@Sethisfy

4 ай бұрын

It is $8,000 self + $8,000 loved ones!

@andrea9797mdd

4 ай бұрын

​@@SethisfyOh great! Thank you!

Should make ERS = 5 X BRS

@Sethisfy

4 ай бұрын

Apparently 4 times already covers 99% of people!

For the sum 200k CPF SA shielding will compound interest earn of 4% for 5 years will earn u over 43k+ vs 26k on 2.5% “ U work out the sum here …isn’t it a huge lost 😡

I will top up to 4 x brs if I hv extra cash next year. Just let the rest of cpf money stay in OA for few more years.

@Sethisfy

4 ай бұрын

Why stay in OA if you intend to top up to ERS?

@kcchiew4247

4 ай бұрын

@@Sethisfy I will not top up to 4xbrs if not able to save extra cash by end of this year. 😉

Nono no very risky invest In other products …Management is the problem … Stay put in CPF 2.5 % rather than price drop

Hi Seth May I ask you regarding CPF retirement account? CPF payout is not guarantee. If CPF interest goes down and more people live longer, then payout will go down. Contrary I read that if we want to get more payout then top up to RA account. My question is what is the point of topping up if the payout will go down due to the reasons I mentioned above. I am very confuse. Could you kindly reply? Thank you in advance!

@Sethisfy

4 ай бұрын

CPF Life is like an insurance policy. The more you buy the more your payout. But like insurance policies the payout is also affected by claims. So if more people start to live longer and get more payout, they have to adjust accordingly.

@nancylim5221

4 ай бұрын

Thanks very much for your reply

@nancylim5221

4 ай бұрын

​@@Sethisfy Keep it up with your sharing! I look forward to it!

@nancylim5221

4 ай бұрын

@Sethisfy I understand Interest earned on CPF life is pooled together and will not paid to beneficiary when a member dies. How about interest in OA after a member meet the FRS in RA. The balance funds in OA, the interest will it pay to beneficiary when a member pass on? I guess Medisave Account is not included in CPF LIFE so definitely the interest is pay to beneficiary? Am I right? Thank you

I love you

Agree

@Sethisfy

4 ай бұрын

Thanks for boosting the video with your comment ☺️

First!

@Sethisfy

4 ай бұрын

First finfluencer to hit 100k??

You use drawdown as the basis that it does not make a huge difference between 2.5% and 4%>. That's totally not the key impact. I think you just too young to understand the entire perspective. A long way to go, boy.

@Sethisfy

4 ай бұрын

Feel free to share your perspectives instead of commenting on my youth, but thank you for calling me young 😂

@petiachoo1615

4 ай бұрын

@@Sethisfy there are cpf calculators that will project the difference with and without shielding from 55 to 65. The 1.5% difference compounded over time is a huge chunk of savings lost.

@Sethisfy

4 ай бұрын

​@@petiachoo1615 Yeah there is definitely more interest when SA shielding is employed. But again it is a loophole that has been living on borrowed time. I’m not sure how wise or prudent it is to expect the loophole to be a big part of one’s retirement plan.