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I had $650,000 in my CPF in 2013 when we left Singapore. That is a lot of money in the country we currently live in, but just peanuts in Singapore. The money is barely enough to buy a luxury car. It is just barely enough to just make the down payment on a private condo.

Dear Josh, In relation to the topping up to MA for tax planning or retirement planning. what does this action will you consider & label as in terms of expenditure recprding? Do u put this under Needs, Wants or Investment? TIA.

@joshconsultancy

5 ай бұрын

Hi there may be no best answer I would put as expenses needs

Hi josh. Amount topped up to MA is not reserved, unlike SA. So that you can do more shielding at age55. So you may wanna consider to top up 3k into MA

@joshconsultancy

5 ай бұрын

Valid point

What should be a investment strategy for 40s? ie. should i max out my FRS(ie. top up into SA) or use my funds to invest in dividend stock?

@joshconsultancy

5 ай бұрын

If tax rate is high, topping up to SA for tax relief is favourable

@Longtermalwayswins

5 ай бұрын

i think you might want to set up a personal call with josh. everyone's situation is very different...but just off the top of my mind as im also in my 40s.. i can say 40s is stil considered young la. so gotta really ask yourself what is your risk appetite, how urgent you need money etc.

Hi Josh. Let say I could top up $5k into my medisave before hitting the cap and this allows me to claim a tax relief of $5k. However the assessable income is still high and I still need to pay tax. Isn't it better just to channel my cash to pay tax directly?

@joshconsultancy

5 ай бұрын

Money topped up into cpf that qualifies for tax relief is still your money. Buy money paid as taxes is gone

No more 4% in SA , gets closed n transfer to OA .

Hi Josh, you mentioned current CPF annual salary ceiling is at 102K salary. Assuming I have hit this cap by December, but then I get an additional 2 months bonus. 1. Will the 2 months bonus be paid to me in full (meaning no more CPF deduction for Employees contribution), and 2. The Employer will no longer include and contribute Employers portion for the 2 months bonus, (or will the Employer still pay the contribution to me in cash?). 3. Is there no way to earn CPF contribution beyond the 102K salary cap? What if I have 2 employers? Appreciate your advice. Thanks.

@joshconsultancy

4 ай бұрын

Hi Ben, from my understanding 1) not enough info Note there is a monthly ceiling cap of $6800 now. Depends on whether u had mid year bonus 2) yes coz of yearly limit 3) cap is per employer. 2 jobs is only way to be more Hope it answers

@Ben-pc8ou

4 ай бұрын

Thanks so much. Had difficulty finding this info@@joshconsultancy

At around 2:00 of this video you said that if MA is “full” and SA also “full”, your CPF contribution will flow into OA. That’s also what I understood. Around Q3 last year, my SA amount reach the FRS but it still continue to receive more contribution. Any idea why? I thought it’s some new policy, until I watched this video.

@joshconsultancy

5 ай бұрын

Hi, SA earned from employment will continue to flow in Its only the interest and the surplus from medisave that will flow to OA Hope it answers

@dantofl8811

5 ай бұрын

@@joshconsultancy I see. Thanks for the explanation

@xyheng663

5 ай бұрын

SA interest will remain in SA. Only medisave interest that exceeds will go into OA.

Uncle Josh, are you familiar with TV show Billions? Bobby Axlrod?

@joshconsultancy

5 ай бұрын

Not familiar. Maybe not old enough haha?

Erm, I don’t mean to point out the obvious, but the yellow color segment you pointed out has a much bigger range (e.g 100k) while the others show a diff of 20k. The 300k-400k segment is not the largest proportion of Singaporeans

@joshconsultancy

5 ай бұрын

Valid point

im 40 i only have 30k in CPF will never top up all my money are in other investment

43. In the yellow bracket 😅. By 50 might be in the 1m or more bracket 😅 OA in endowus invested in s&p500, SA just parked there FRS. MA topped up every year first day get tax relief. Dont buy a house unless its bto. Privileged to have a house from parents so invest OA to get 8% yoy.

@joshconsultancy

5 ай бұрын

Good journey 👍

How about those that just want to have cash instead of large sum in Retirement Acc. What is the amount one can withdraw at age 55yo? May be you can give examples for those reach BRS & FRS when one says reach $250k with $50k SA Cash Top Up? As SA Cash Top Up has a catch, it seems to be a separate Retirement Sum that one cannot touch at all and not form part of BRS and FRS amt. Thanks.

@joshconsultancy

5 ай бұрын

Technically SA top up is reserved and will flow to RA for CPF Life But OA transfer to SA and SA from employment can be withdrawn when FRS is met. Hope it clarifies

@JS-ev4xc

5 ай бұрын

@@joshconsultancy Thank you for the clarifications. It means once SA Cash Top Up is done, this amt + compounded interest will never see the light until 65yo in the form of gradual monthly pay up.

@Phonedumb

5 ай бұрын

No. That will be the RA for monthly payouts from 65. After 55, if you've FRS in RA (or BRS with property pledge), you are free to take out everything from SA and OA if tou want. Many will want to do SA shielding for the risk free 4% interest. Once you've missed the window after 55, then you can't do so anymore

@JS-ev4xc

5 ай бұрын

@@Phonedumb I think for SA Cash Top Up, it is a different story, it is not part of BRS or FRS, you can withdraw excess of FRS or BRS @55yo but does not include this SA Cash Top Up + compounded interest. I suspect this sum is also not eligible for investment purpose, ie. can't do shielding too but this must check with CPF.

@christinaaugustine27

5 ай бұрын

Hi, I’ve been a homemaker most of my life and have very little CPF. I’m 63 now and trying to top up my RA account… meanwhile do you think I should also top up my MA or just stick to topping up my RA to FRS ? Your videos on CPF has been very helpful. Thank you !

hi sir.. what is your serious opinion for a 44 year old working adult with a cpf SA of 60K?

@joshconsultancy

5 ай бұрын

My gut opinion is if possible find opportunities to build up income to ensure a good chance for retirement. Reason being if OA is used for home, SA is only part left for retirement. Hope it answers and all the best in your journey

If I top up CPF in 2024, does it qualify as income tax relief for 2023?

@joshconsultancy

5 ай бұрын

No doesn’t. Has to be before 31/12/23

I thought topping up at the start of the year would be better ? Higher interest compared to topping up end of the year

@joshconsultancy

5 ай бұрын

Topic up at start yes will get full year calculation of interest But I’m moving capital to investing. Hope it answers 👌🏻👍

i aso have 220k in my OA..SHD i put all in TBILL?

@joshconsultancy

4 ай бұрын

Factually interest is higher. But u decide because I don’t have full context to give advice on 👌🏻🙏

I top up my MA on 2nd of Jan.

@joshconsultancy

5 ай бұрын

nicely done!

Haiyah... I want my cash and spend it too. 🤪

@joshconsultancy

5 ай бұрын

Ahya safety net safety net :)

If you already have a property good enough this 250k in cpf. Unless no have then is bad

@Twodaae

5 ай бұрын

IF if have a property, only have $50k in CPF (did not touch cpf for house), but have $500k in cash is it still bad?

Josh. I thought u sold off your hdb. Most money should have go back to your ordinary account. Why only $45k?

@joshconsultancy

5 ай бұрын

Yes did. Previously it was mainly cash and wife OA.

CPF no point la, can only enjoy at 65, cash on hand is more important

@joshconsultancy

5 ай бұрын

Excess cpf is liquid at 55 👌🏻

I started work late at 33 years old and I work in a low salary job So now 40 years old I have only $100 thousand

@joshconsultancy

5 ай бұрын

Find long term ways to build up income gradually and keep building for your retirement however best you can

@est4574

5 ай бұрын

Hi, how to attend yr class? ​@joshconsultancy

Envy .. in my eye u r rich , i only hv 100k in my RA account 🙃

@joshconsultancy

5 ай бұрын

Everybody has their own path. Do the best to stretch your retirement dollars k =)

45 years old. CPF total 213K. Low salary = low CPF.

@joshconsultancy

5 ай бұрын

Dont worry on it too much, keep building for your retirement however best you can

Just curious, what’s your main broker?

@joshconsultancy

5 ай бұрын

I use one for buy and keep into CDP account and a few for trading one of which is TIGER

Our system is no good compared to Europe’s system. Europe’s pension is paid monthly till death. That’s why they enjoy their retirement more than us. Ours have to work when the cpf retirement money is finished. So sad

@joshconsultancy

5 ай бұрын

That’s why their taxes so high and unsustainable 😬

I thought cpf interest calculation is based on per annum and not monthly.

@joshconsultancy

5 ай бұрын

Month to month figure is tabulated and paid 31dec

@Longtermalwayswins

5 ай бұрын

Interest is accumulated every mth and calculated annually. Base of SA is updated monthly to get the latest monthly accrued interest

@stiwrc2002

5 ай бұрын

Money lender 4% interest rates also based on monthly calculation, but the interest amount is much higher than cpf SA interest amount. If cpf is based on monthly then 100k will get 104000 on first month then second month will get 108160?

@Longtermalwayswins

5 ай бұрын

per annum not per month la@@stiwrc2002

@stiwrc2002

5 ай бұрын

@@Longtermalwayswins Can you confirm it is calculated based on every month? As I have $100k in SA and interest per year is $4K+ and if based on monthly, then it will be much more isn't it?

The compounding rate to millionaire cannot even beat inflation rate 😅 Maybe by then buy HDB 5 rooms need at least 3 million minimum.

@joshconsultancy

5 ай бұрын

Inflation is dropping not as the same as 2022. Property prices also go in cycles dont worry

The more u hv the more u want the more unhappy u are 🥸

@joshconsultancy

5 ай бұрын

No la, it’s just the “more you want” Not too much to do with more you have

@kornhead8

5 ай бұрын

Its human nature la 🫰