4:30 CPF I believe cash top-up monies cannot be withdrawn even if the amount if greater than FRS? Amount which you can withdraw (From CPF): "Any Retirement Account savings (excluding interest earned, any government grants received and top-ups made under the Retirement Sum Topping-up Scheme) above the Basic Retirement Sum, if you own a property with remaining lease that can last you to at least 95 years old."
Hi Sheen, can withdraw if it is above FRS as long as it is not into CPF Life already. The portion you pasted is on RSS and for BRS withdrawal circumstance. Watch th-cam.com/video/CRewg-U9WaM/w-d-xo.html, cya there =)
Thanks for sharing. Good video. Everyone's investment need is different from others. Please continue to share your opinion openly and don't worry too much
Just wondering if I can hit FRS this year, does it mean that I am set for life given that the moving target increases by 3.5% but the interest is at 4%. Upon attaining FRS, does that mean I have freedom of choice to work on my passion and potential earn much lower. Do I still need to strive to earn $6k per month based on your bullet point? Thanks in advance and appreciate your clarification
Is there a way to breech the gap and regain back my freedom of choice? I.e if I can hit FRS already then work for my passion part time and earn an average salary of approx. $ 3,400? While explore dividend investing , SSB and one more stream of passive income.
Hi Josh, I haven’t seen the video you took down. I have been following your videos for few weeks already and I would like to thank you for the content you put on and the obvious dedication you have to share your views and insights to others. This is very valuable and hope you will still continue to do so! Very best! Vuong.
Hi, just want to say I totally agree wit your point of view. 1 think that Loo did not mentioned about the negative side of CPf is that when you reached age 65, RA become CPf life and that the interest you earned will go towards the other cpf members. I.e. 0% interest when you are at the prime of your life. And this is not highlighted at the cons on his page.
Hi logapluslogb, not too sure on "0% interest when you are at the prime of your life". In my understanding, when calculating the payout monthly, it factors in that just like any annuity. Great to cya around!
@@joshconsultancy Oh what i meant is that when RA amount transfer to cpf life, the interest of 4% that you earn will not be borne to you but to the other cpf members. meaning to say you get 0%. Hence this is something that is not higlighted enough by bloggers or loo despite being an advocate of CPF. I did PM him on this before and he just pretend to ignore this fact and not debate on this.
@@logapluslogb That's wad cpf life is about, it's doing risk pooling to ensure that everyone has enough to survive on in their golden yrs till they pass away.... If u dun Wan to pool so much of ur CPF $$ interests, then choose cpf life basic plan ....
Good video! My feel...when investing, only invest with money you can afford to lose, then you will be able to sleep well at night even during a downturn. Also, during the downturn is the best chance to own stocks cheaper. But many of these so called investors actually sold out during the recent downturn. Could be due to over leveraged or maybe panic sell.
Hi Jane, missed your comment. Why top up? - For higher interest when money locked in CPFSA. This sharing is mainly on alternative method to get higher returns. Hope it helps and SMASH ON THE LIKE button! =)
@@joshconsultancy One question is should I top up my CPF with cash to meet the minimum sum? Actually, I have no intention to withdraw. I have two insurance packages. One of them whose preminimum is fully paid. Expect to receive $100K by 65. As for the other one, payout in 4 years' time.
Dear Josh, do you mind to share your personal experience about your investment(ex age vs % investment on your income, % of investment returns..etc)? Appreciate it :)
Hi Zhi Hao, try to get as much of your income saved and invested. I've a subsequent video on it so do smash the subscribe. Don't put too much pressure on seeking high % returns as it encourages excessive risk taking. Neither is there use seeking experts who trumpet their past investment prowess. A 5-10%pa will get you to financial freedom quite easily. Hope it helps and cya around =)
Lol why would you take that down? 1M65 is just a very catchy phase. If u break it down for the people at their late 20s or early 30s, u will get approximately 500k if u do it for 30 yrs. However the minimun sum of cpf at age 55 will also rise to approximately 500k at 2050 (192k currently assuming 3+%) growth annually. So u eventually get nothing as well, so whats the point? 1M65 is just meeting basic CPF retirement.
Hi josh, no worries. 1M65 is basic CPF requriements 30 yrs down the road. That is getting about $1,400/monthly, using today's $ term. Subsequently he introduced another one called 4M65. Its more than challenging yet the max you can get is about 4x more $5k+ monthly (using today's $ term) , which is the average salary of Singaporeans at $5,596 in 2019. While you can argue that you may not have mortgages at 65 (I doubt 30 yrs down the road, we can retire at 65 maybe 70/75?), other things such as medical will still cover that outflow. Its really scary if you are in late 20s/early 30s planning for this. If you are in your late 20s early 30s, $5m or more for a comfortable retirement sounds more like a plan. Because of the quantum is so large, diversification on all asset classes (including private properties appreciating till your 50s then slowly downgrading down) must be a consideration as well (even though you are not quite into this LOL).
Nice video as usual. Appreciate you made financial concepts easy to understand in SG context. For 1M65, can the SA be more than the FRS (of that year) before the age of 55? I have the impression, I could be wrong, that the SA is capped at FRS, anything extra (interest from SA, CPF contributions, etc) will be channeled into OA.
Great sharing. I found out about property investing a while ago and wanted to give it a try. What's your recommendation for someone who has already purchased a HDB flat and is living in it? Stop payments via cpf? Save up for a private property for investment?
Hi Crumblik, calculate how you can pay off the current HDB. I've a sharing on this channel before on how I own my condo. Hope it helps and cya around more k! =)
✅ ENGAGE Josh Tan on a fee for financial planning to build towards for your retirement!
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Thank you😊
You're welcome paramaeswary 😊 There may be a period soon in equity markets like what Ive described in this tutorial. Be invested correctly =)
Josh, thanks for the video. Keep up your good work.
Thanks for the high praise Cheng
4:30 CPF I believe cash top-up monies cannot be withdrawn even if the amount if greater than FRS?
Amount which you can withdraw (From CPF): "Any Retirement Account savings (excluding interest earned, any government grants received and top-ups made under the Retirement Sum Topping-up Scheme) above the Basic Retirement Sum, if you own a property with remaining lease that can last you to at least 95 years old."
Hi Sheen, can withdraw if it is above FRS as long as it is not into CPF Life already. The portion you pasted is on RSS and for BRS withdrawal circumstance. Watch th-cam.com/video/CRewg-U9WaM/w-d-xo.html, cya there =)
@@joshconsultancy Thanks for clarifying!
Thanks for sharing. Good video. Everyone's investment need is different from others. Please continue to share your opinion openly and don't worry too much
Thank you! Will do!
First video I watched on Saturday morning. Thank you Josh.
No probs Jeff! SMASH ON THE LIKE =p
Just wondering if I can hit FRS this year, does it mean that I am set for life given that the moving target increases by 3.5% but the interest is at 4%. Upon attaining FRS, does that mean I have freedom of choice to work on my passion and potential earn much lower. Do I still need to strive to earn $6k per month based on your bullet point? Thanks in advance and appreciate your clarification
If your SA has the FRS it is likely that you will hit it even if you stop work. The problem is from now to age65 theres still a retirement gap
Is there a way to breech the gap and regain back my freedom of choice? I.e if I can hit FRS already then work for my passion part time and earn an average salary of approx. $ 3,400? While explore dividend investing , SSB and one more stream of passive income.
Hi Josh, I haven’t seen the video you took down. I have been following your videos for few weeks already and I would like to thank you for the content you put on and the obvious dedication you have to share your views and insights to others. This is very valuable and hope you will still continue to do so! Very best! Vuong.
Hi Vuong, sure! Welcome to the community and cya around more =)
But how to do this for freelancers that dont partake in the CPF system
Voluntary contributions. There will be certain tax relief too
You are really cool and you seem honest and frank-please stay this way.
Thank you Gireesh and welcome to the community! =)
It takes courage to admit that sometimes we are wrong.
Thanks Coo1eo
Hi, just want to say I totally agree wit your point of view. 1 think that Loo did not mentioned about the negative side of CPf is that when you reached age 65, RA become CPf life and that the interest you earned will go towards the other cpf members. I.e. 0% interest when you are at the prime of your life. And this is not highlighted at the cons on his page.
Hi logapluslogb, not too sure on "0% interest when you are at the prime of your life". In my understanding, when calculating the payout monthly, it factors in that just like any annuity. Great to cya around!
@@joshconsultancy Oh what i meant is that when RA amount transfer to cpf life, the interest of 4% that you earn will not be borne to you but to the other cpf members. meaning to say you get 0%. Hence this is something that is not higlighted enough by bloggers or loo despite being an advocate of CPF. I did PM him on this before and he just pretend to ignore this fact and not debate on this.
@@logapluslogb That's wad cpf life is about, it's doing risk pooling to ensure that everyone has enough to survive on in their golden yrs till they pass away....
If u dun Wan to pool so much of ur CPF $$ interests, then choose cpf life basic plan ....
Didnt see the old video, is it still available by any chance?
Hi Steph, no it's deleted sorry. SMASH THE LIKE button and cya around more =)
Tq for your down to earth sharing
Hi Chow, cya around more and SMASH ON THE LIKE button! =)
Good video! My feel...when investing, only invest with money you can afford to lose, then you will be able to sleep well at night even during a downturn. Also, during the downturn is the best chance to own stocks cheaper. But many of these so called investors actually sold out during the recent downturn. Could be due to over leveraged or maybe panic sell.
Well said whis key =)
I’m happy to buy their stocks if they are fundamentally sound companies.
Yes.
Josh, investing via SRS would also mean selecting the right equities.
Hi Shang, yes. SMASH on the LIKE button and cya around more =)
Hi Josh, why CPF encourage CPF member to top up CPF either by transfer fund from OA to SA or cash top up and i am confuse in SRS too
Hi Jane, missed your comment. Why top up? - For higher interest when money locked in CPFSA. This sharing is mainly on alternative method to get higher returns. Hope it helps and SMASH ON THE LIKE button! =)
Am I right to say if I have $165k in RA at age 55, I can withdraw $5k + amount above my Basic Retirement Sum of my time(pledge to a property)?
Yes correct Kean
rewatching this
Sure, any thoughts do leave here too
Agreed with you emergency fund is very important.
Thanks and cya around Maureen =)
@@joshconsultancy One question is should I top up my CPF with cash to meet the minimum sum? Actually, I have no intention to withdraw. I have two insurance packages. One of them whose preminimum is fully paid. Expect to receive $100K by 65. As for the other one, payout in 4 years' time.
Hi Josh, keep it up. I am learning as a investor and also how to maximise my cpf:)
Your video is educational and beneficial.
Thanks
Glad it was helpful! Cya around more Kenny! =)
Dear Josh, do you mind to share your personal experience about your investment(ex age vs % investment on your income, % of investment returns..etc)? Appreciate it :)
Hi Zhi Hao, try to get as much of your income saved and invested. I've a subsequent video on it so do smash the subscribe. Don't put too much pressure on seeking high % returns as it encourages excessive risk taking. Neither is there use seeking experts who trumpet their past investment prowess. A 5-10%pa will get you to financial freedom quite easily. Hope it helps and cya around =)
Lol why would you take that down? 1M65 is just a very catchy phase. If u break it down for the people at their late 20s or early 30s, u will get approximately 500k if u do it for 30 yrs. However the minimun sum of cpf at age 55 will also rise to approximately 500k at 2050 (192k currently assuming 3+%) growth annually. So u eventually get nothing as well, so whats the point? 1M65 is just meeting basic CPF retirement.
Hi Boyce, because that old version the tone was abit too aggressive. It was my raw perspectives that deserved deeper thinking first...
Hi josh, no worries.
1M65 is basic CPF requriements 30 yrs down the road. That is getting about $1,400/monthly, using today's $ term.
Subsequently he introduced another one called 4M65. Its more than challenging yet the max you can get is about 4x more $5k+ monthly (using today's $ term) , which is the average salary of Singaporeans at $5,596 in 2019. While you can argue that you may not have mortgages at 65 (I doubt 30 yrs down the road, we can retire at 65 maybe 70/75?), other things such as medical will still cover that outflow.
Its really scary if you are in late 20s/early 30s planning for this.
If you are in your late 20s early 30s, $5m or more for a comfortable retirement sounds more like a plan. Because of the quantum is so large, diversification on all asset classes (including private properties appreciating till your 50s then slowly downgrading down) must be a consideration as well (even though you are not quite into this LOL).
Nice video as usual. Appreciate you made financial concepts easy to understand in SG context. For 1M65, can the SA be more than the FRS (of that year) before the age of 55? I have the impression, I could be wrong, that the SA is capped at FRS, anything extra (interest from SA, CPF contributions, etc) will be channeled into OA.
Hi CP, great to hear from you. RSTU into CPFSA is capped at FRS for voluntary contributions. Employment CPFSA yes will still go in
@@joshconsultancy thanks Josh. 4% risk free cmpd over many years sure sounds like a good base/plan for retirement.
Nothing wrong to give your perspectives
Thank you John, relieved to hear that! This NEW video shld give a more rounded perspective!
72/4 is 18 year to double , and 1 percent extra for first 40k in SA. Definitely can get better return comparewith the sgx market index.
Hi Jason, depends on which timeframe used. Of course SA is guaranteed. Great to cya around =)
i will retire before 60 years old.
work
A pity you deleted the last video. I feel it could be kept as an educational resource for us to know what you feel was incorrect.
Hi gaijinhan, welcome to the family. It would otherwise have been searchable or suggested on TH-cam and I thought it may bring some harm that’s why :)
i thot the 1m65 person also mentioned before it's not for everyone.. hmmm
Hi Darren, you can check with their community. =)
Great sharing.
I found out about property investing a while ago and wanted to give it a try. What's your recommendation for someone who has already purchased a HDB flat and is living in it?
Stop payments via cpf? Save up for a private property for investment?
Hi Crumblik, calculate how you can pay off the current HDB. I've a sharing on this channel before on how I own my condo. Hope it helps and cya around more k! =)
Thanks , from lampung - indonesia . 👍👍👍👍
No probs tgm. =)
U are not focused.
Hi Chi Wei, how so?
I've only started to watch your videos recently. Really appreciate the honest and Frank sharing. Esp from a SG perspective. Keep up the good work.👍
I appreciate that! Welcome to the family ancc =)