When Should you Start Topping up your CPF?
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I know this is a highly debatable topic and using my experience may not be the best example because back then the CPF rules were quite different when I was still a fresh grad.
But for context, I started topping up CPF in 2016 when I was 25. This was 1 year after I started Full-time employment, mainly as a way to reduce taxes so it was a very simplistic thinking.
Unlike what I share nowadays about financial and retirement safety net and all these ikigai financial independence stuff, which are mostly developed in my late 20s.
In this video, I will share what period I feel is the most optimal for topping up CPF, and maybe you can consider it. Not necessarily to reach Full Retirement Sum, which is 198.8K in 2023, but more from a optimising standpoint
1) When you have less than $60,000 combined CPF Balance
2) When you need to start paying for your own Integrated Shield Plan
3) Why your tax assessable income is above $40,000 per year (7% tax bracket)
Ultimately the decision is yours on whether to top-up but I hope I’ve help some people clear their doubts before they start to top-up CPF
Пікірлер: 16
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What should i look out for ISP? Seem to have a lot of options even for public hospital.
Excellent explanation, thanks.
If you have full retirement sum of 198k at 37yrs old,how much will you get in Basic cpf life at 65yrs old.
Hi Chris, If I wish to top up 8k to my CPF for tax relief, would it make a difference to top up to MA or SA?
@HoneyMoneySG
11 ай бұрын
Yes, differences explained here kzread.info/dash/bejne/p5lrsbSjeqjJpqw.html
why not only use medishield life and just stay in C ward ?
@Xamael666
Жыл бұрын
I agree with this. Hospital stay should be to get well soon & get out ASAP lol...but some ppl want to live like "kings / queens" in a "hotel"...whatever, that's their own prerogative...anyway, this is Singapore & the level of medical care is better as compared to the neighbouring countries...u still get quality medical care even tho it's subsidised
@sohwenwen99
Жыл бұрын
Have you tried staying in C ward before? Imagine you’re sick af and three other families happily chatting beside you.
@Xamael666
Жыл бұрын
@@sohwenwen99 Yes I have lol....but the good thing is the nurses will tell these families to FO by 9pm lol
@sohwenwen99
Жыл бұрын
@@Xamael666 If you can endure it before 9pm, good for you. Not me lol
@ryanyoutube7315
Жыл бұрын
Its not about wards.. it's really about access to quality of docs. To each it's own 😉
Thank You for educating on CPF. Question: so for voluntary contributing is it possible to do OA to MA transfer to achieve BHS? @HoneyMoneySG
@HoneyMoneySG
Жыл бұрын
Not possible for transfer OA-MA
@KoshilanKoshTV
Жыл бұрын
@@HoneyMoneySG thank you bro. Noted :)