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It's interesting that the investment returns on your SRS are effectively subjected to "capital gains" tax as part of your assessable income upon withdrawal.
Actually since investment returns on SRS is also taxable, the 400k put in over many years, esp. in the earlier years (age 20s or 30s) would very likely have grown to a much larger amount at the statutory retirement age of 63, say 1 mil. By then, one would have to withdraw 100k per year instead of 40k a year, and this will incur taxes. If one puts in say 800k over the years, and say it grows to 2 mil, then one will incur even more taxes upon withdrawal.
Great sharing. But I think is it misleading to compare 0.69% effective tax rate vs 7% marginal personal income tax rate. They are essentially different things.
Want to grow your money & outpace inflation? With OCBC RoboInvest, you can invest in what you believe in with 38 portfolios to choose from. Start investing from just US$100. From now till 31 Dec 2024, get up to S$908 cash when you invest and get insured with OCBC. T&Cs apply: go.ocbc.com/investcr
This message is brought to you by OCBC. This advertisement has not been reviewed by the Monetary Authority of Singapore. Investments are subject to investment risks, including the possible loss of the principal amount invested.
Learned something new about SRS - locking in the retirement age in your first contribution. Thank you for sharing!
It's interesting that the investment returns on your SRS are effectively subjected to "capital gains" tax as part of your assessable income upon withdrawal.
Where/how can you check your statutory retirement age when you top up your SRS with $1? Can’t remember when I did the top up.
hihi , why do u prefer the ishares IE over the amundi's Prime USA Fund?
Actually since investment returns on SRS is also taxable, the 400k put in over many years, esp. in the earlier years (age 20s or 30s) would very likely have grown to a much larger amount at the statutory retirement age of 63, say 1 mil. By then, one would have to withdraw 100k per year instead of 40k a year, and this will incur taxes.
If one puts in say 800k over the years, and say it grows to 2 mil, then one will incur even more taxes upon withdrawal.
isnt amundi prime USA fund lowever fees?
hihi thanks for this video! SRS + 1 , Is it more cost efficient to use Endowus instead of poems?
Thx for the sharing
would like to know how you built up that 40k+ in Ishares, seems like it was lumpsum over DCA? How come U decided not to DCA?
Hw abt invest in amundi funds carried by poems? No advisory fee or any fee other than fund expense. Just found out abt it from moneyowl
Great sharing. But I think is it misleading to compare 0.69% effective tax rate vs 7% marginal personal income tax rate. They are essentially different things.
Is capital gain of SRS fund taxable?
Curious about it too
Yea….else how you gonna have 800k in srs with 15.3k limit contribution per year
LOL, with you I can never see the promo or sponsor coming up. always so seamless!
💹 Invest SRS with - Endowus hmsg.link/endowus (S$100 credits offer till 31 Dec 2024)
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400k you put in the mkts yourself also no tax lol
Already taxed before you put it in mkts 😅
Wow, good loophole for the foreigners to siam tax obligations
26 years to hit 400k… your age limits you..,
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