if you're likely to purchase a 2nd HDB and if you can achieve better returns than 2.6% interest from HDB loan, it's actually better to pay off mortgage using CPF and max out both the loan amount and duration
Josh, great tips and good value to help people know more about CPF! Which I think more people need to understand and not be misled by misinformation as well.
Very informative video. I like watching your videos and advice on equities and such. Just a comment on point 6 is that employees who receive the maximum limit from than the mandatory employee contribution sum will not be able to contribute voluntarily to the medisave account and the monies put in will be refunded. $165 was deducted from my MA account for careshield and I decided to top up $165 to fill the deficit. I was informed by cpf board in late January that I had maxed out my voluntary contributions because my employer had contributed more than the maximum amount for the mandatory employee contribution. So my $165 was refunded to me with another $165 deficit in my medisave. Before the end of last year, I had considered point 6 but after the incident, I had to rethink putting money into my special account. So, I am only considering RSTU and cpf housing refund for now
Hi Yeosld thank you leaving a detailed experience. Point 6 from my understanding (no personal experience coz my MA is not full yet) is top up IN January when BHS limits are increased. To add in before employee contribution comes in. Then it works. Hope it explains!
Hey great video. Dont mind a noobie here. Can you explain further regards to the topping up of medisave at the start of the year and that more will flow into the SA portion? Thanks!
Hi Marcus, MA's BHS increases every year. Topping up MA in jan gets more months of interest. When MA becomes full, new contributions flows to SA. If MA is full and SA is also full, it will go into CPF OA instead. Hope it answers =)
Thank you for the video! I was searching about info on voluntary housing refund. I have zero intention to sell my HDB flat, but it's a good way to earn 2.5% risk-free, compared to just keeping my cash in a saving account.
No probs, smash the subs and cya around. Currently T-biils yield around 3.7%. Can be bought via OA Look for JOSH TAN FINANCE SUMMIT. Chapter 3 I teach on CPF and todays savings environment. Purchase access below 🌟 jtinvestacademy.thinkific.com/courses/JTFS
Another hack- just before turning 55, I used all I could from SA, leaving compulsory 40k? and used to buy a fund allowed by CPFIS. This was so that the OA money was taken out and transferred automatically to the Retirement Acct rather than from the SA. After turning 55, I sold the fund and the money was sent back to SA where interest is higher than OA.
Hi Josh, I'd wish to hear your view about investment-linked plans in the past and what's available now. Separately, what do you think about robo-investing? better than leaving to financial planners?
CPF pays interest at the end of Dec. I wish to withdraw the annual interest earned from my OA. Is it advisable to withdraw in Jan 23 for accrued interest for the year 2022 so as to keep the principal amount intact?Thanks
The interest calculation from my knowledge is by month (lowest value of the month). Hence, if you need (if you are above age55 with FRS) you may withdraw from CPFSA first. * double check w CPF to be sure k
Hello Josh, can you make a review about the Jardines C & C, JMH and JSH. Just curious if they are worth to invest to since they are like the highest in dividends blue chips
Hi Kenny, yes if FRS is met. Top up by voluntary contribution will go to all 3 accounts and has caps to note too k. Hope it answers and cya round kenny
@@joshconsultancy Thanks, wish to confirm, by voluntary topping up does it allocate accordingly to a percentage to each account ? or it will fill up MA first then go to SA to the cap then OA? And after topping up, if wish to withdraw, i think you mentioned in your video, it will have to be from SA first?
Hi Josh after selling my current flat I would return almost 200k to my OA. Would you recommend using OA for my next property or 100% cash to avoid the accured interest? I did think to keep more cash to invest into other financial products for higher returns eg reits.
Hi Gina, accrued interest is ok actually. It's just back to your own cpf. Not lost. It's hard to give a best answer without the full picture of age, budget, investment experience...
Hi Josh able to answer my queries please? For example i have 200k in OA and SA combined. I pledge my property after turning 55 example 90k Basic Retirememt Sum (BRS). Meaning my OA SA will have left 200k-92k=118k withdrawable sum. Though will have less monthly payouts after 65, can safe to say that we would have more liquidity in having the ability to draw out more funds from 55 years old ya? Money above the BRS will still enjoy its % in OA and SA accounts respectively?
Hi Josh, can I check with you. For the cpf housing refund to OA, I will be using cash to refund monies for my hdb loan back to my cpf OA. Question is, after I do that, can I transfer that money in OA to SA?
@@joshconsultancy oh so it's possible yea? Becauae my real intention is to put funds in my cpf SA for retirement. But was given the idea that I could kill 2 bird with 1 stone by doing the housing refund and den transfer to CPF SA for better interest.
For property refund to CPF, once the refunded amount is withdrawn for an emergency, it cannot be returned to CPF again (assuming the emergency has been settled) as property refund. Is this correct?
@@joshconsultancy Emergency means I need the funds for a period of time and thereafter I may have the same amount of funds back again after the emergency has been solved.
Hi Yeeen, its if you want to pump more back to CPF, there is a place in CPF u can repay what u used for your property from OA previously. Hope it answers!
does the excess amount above the reitirement sum continue to earn interest after 55? i.e. can we leave the money in cpf to continue earning interest after 55?
Hi Josh, what's your take on the ever increasing FRS? I think young people will have a very hard time hitting their FRS. Worse still, if they use most of their OA money to fund property purchase.
Hi Johnny, It’s good. On the other hand 1M65 has many fans who idolize building up cpf. Low income families struggle on FRS, it’s an issue I’d like to try help solve with the influence I’ve here :)
It would even be better if you dont even touch it for properties, or pay it back very quickly, like me. Govt pays me 2.5%pa, not i pay myself ( excuse the bad english) 🤣
I still have $600k in my CPF account although I am no longer a Singapore PR. I will withdraw all CPF fund during next crisis to invest on my own. The return from CPF is just too low.
![สาวเมืองเพชร - ธีเดช ทองอภิชาติ [Official MV]](http://i.ytimg.com/vi/kEt7F9PvO3I/mqdefault.jpg)
A very informative video...well done!
Glad it helped! Cya around more Johnny 👍
Very informative, thank you sir
Thanks Sanjay, smash the LIKE =)
Best is use 100% cash to buy HDB.
Depends maybe? For someone starting a business cash is king 😉
if you're likely to purchase a 2nd HDB and if you can achieve better returns than 2.6% interest from HDB loan, it's actually better to pay off mortgage using CPF and max out both the loan amount and duration
@@hahahahaha191990 good points
Josh, great tips and good value to help people know more about CPF! Which I think more people need to understand and not be misled by misinformation as well.
Thanks Chris!
Good advice 👍🏻
Glad it was helpful! Cya around Benis
Very informative video. I like watching your videos and advice on equities and such.
Just a comment on point 6 is that employees who receive the maximum limit from than the mandatory employee contribution sum will not be able to contribute voluntarily to the medisave account and the monies put in will be refunded.
$165 was deducted from my MA account for careshield and I decided to top up $165 to fill the deficit. I was informed by cpf board in late January that I had maxed out my voluntary contributions because my employer had contributed more than the maximum amount for the mandatory employee contribution. So my $165 was refunded to me with another $165 deficit in my medisave. Before the end of last year, I had considered point 6 but after the incident, I had to rethink putting money into my special account. So, I am only considering RSTU and cpf housing refund for now
Hi Yeosld thank you leaving a detailed experience. Point 6 from my understanding (no personal experience coz my MA is not full yet) is top up IN January when BHS limits are increased. To add in before employee contribution comes in. Then it works. Hope it explains!
Hey great video. Dont mind a noobie here. Can you explain further regards to the topping up of medisave at the start of the year and that more will flow into the SA portion? Thanks!
Hi Marcus, MA's BHS increases every year. Topping up MA in jan gets more months of interest. When MA becomes full, new contributions flows to SA. If MA is full and SA is also full, it will go into CPF OA instead. Hope it answers =)
Thank you for the video! I was searching about info on voluntary housing refund. I have zero intention to sell my HDB flat, but it's a good way to earn 2.5% risk-free, compared to just keeping my cash in a saving account.
No probs, smash the subs and cya around. Currently T-biils yield around 3.7%. Can be bought via OA
Look for JOSH TAN FINANCE SUMMIT. Chapter 3 I teach on CPF and todays savings environment. Purchase access below
🌟 jtinvestacademy.thinkific.com/courses/JTFS
Another hack- just before turning 55, I used all I could from SA, leaving compulsory 40k? and used to buy a fund allowed by CPFIS. This was so that the OA money was taken out and transferred automatically to the Retirement Acct rather than from the SA. After turning 55, I sold the fund and the money was sent back to SA where interest is higher than OA.
Yes it is CPF SA shielding. Anyone looking for an explanation, tutorial links are in summary.
Hi Josh, I'd wish to hear your view about investment-linked plans in the past and what's available now. Separately, what do you think about robo-investing? better than leaving to financial planners?
Hi Alexis, second part it really depends. For insurance check this video sharing too. Hope it helps th-cam.com/video/Ixm8JHdbRM8/w-d-xo.html
Learnt new things again from you...thanks!
Glad to hear it! Cya around more Jeff
Hi Josh, thanks for the informative videos. For the housing refund to cpf OA, can we continue to contribute even after 55 or only until 55?
Hi omegaopy, after 55 im actually not sure sorry. My guess is yes can. But do double check
CPF pays interest at the end of Dec. I wish to withdraw the annual interest earned from my OA. Is it advisable to withdraw in Jan 23 for accrued interest for the year 2022 so as to keep the principal amount intact?Thanks
The interest calculation from my knowledge is by month (lowest value of the month).
Hence, if you need (if you are above age55 with FRS) you may withdraw from CPFSA first.
* double check w CPF to be sure k
1. First 20k has 3.5% sound good. But some investor trainer ask us to invest in local etf or local company.
First $20k the extra 1% interest if its not capped out by SA and MA already k
Great video. Btw do you have video on how to reduce Income Tax too? 😀
Hi Ackc, yes. But action now is for 2022. Check 6 Ways You Can Save On Your Taxes In Singapore! 👍 th-cam.com/video/yrOnAakvoec/w-d-xo.html
Contribute to SRS
@@joshconsultancy Thanks.
@@damyeuful Already done that for last few years.
Hello Josh, can you make a review about the Jardines C & C, JMH and JSH. Just curious if they are worth to invest to since they are like the highest in dividends blue chips
Hi Ana, Jardine is made up of many parts and complex. I'd prefer to skip the challenge 😉
So using SA to buy bonds before 55 is still valid?
Hi z, bond funds yes. I’ve the Cpf Sa shielding video in summary 👌🏻
I opened an acct with FSMOne
Hi Josh, wish to check after age 55, and if SA becomes 0 after all went to RA account , able to top up to OA and/ or SA and withdraw anytime?
Hi Kenny, yes if FRS is met. Top up by voluntary contribution will go to all 3 accounts and has caps to note too k. Hope it answers and cya round kenny
@@joshconsultancy Thanks, wish to confirm, by voluntary topping up does it allocate accordingly to a percentage to each account ? or it will fill up MA first then go to SA to the cap then OA? And after topping up, if wish to withdraw, i think you mentioned in your video, it will have to be from SA first?
Hi Josh after selling my current flat I would return almost 200k to my OA. Would you recommend using OA for my next property or 100% cash to avoid the accured interest? I did think to keep more cash to invest into other financial products for higher returns eg reits.
Hi Gina, accrued interest is ok actually. It's just back to your own cpf. Not lost. It's hard to give a best answer without the full picture of age, budget, investment experience...
Hi Josh able to answer my queries please? For example i have 200k in OA and SA combined. I pledge my property after turning 55 example 90k Basic Retirememt Sum (BRS). Meaning my OA SA will have left 200k-92k=118k withdrawable sum. Though will have less monthly payouts after 65, can safe to say that we would have more liquidity in having the ability to draw out more funds from 55 years old ya? Money above the BRS will still enjoy its % in OA and SA accounts respectively?
Hi Flarks, not that its a superior approach, it fits if you may need to withdraw. Agree with your understanding
@@joshconsultancy thanks! :D
Hi Josh, can I check with you. For the cpf housing refund to OA, I will be using cash to refund monies for my hdb loan back to my cpf OA. Question is, after I do that, can I transfer that money in OA to SA?
Oa to SA available
Only if SA not at $186k (FRS)
@@joshconsultancy oh so it's possible yea? Becauae my real intention is to put funds in my cpf SA for retirement. But was given the idea that I could kill 2 bird with 1 stone by doing the housing refund and den transfer to CPF SA for better interest.
For property refund to CPF, once the refunded amount is withdrawn for an emergency, it cannot be returned to CPF again (assuming the emergency has been settled) as property refund. Is this correct?
Withdrawn for an emergency? Never heard about it bill
@@joshconsultancy Emergency means I need the funds for a period of time and thereafter I may have the same amount of funds back again after the emergency has been solved.
What is the house refund about? Didn't catch..
Hi Yeeen, its if you want to pump more back to CPF, there is a place in CPF u can repay what u used for your property from OA previously. Hope it answers!
@@joshconsultancy oh i see. Thanks!
does the excess amount above the reitirement sum continue to earn interest after 55? i.e. can we leave the money in cpf to continue earning interest after 55?
Yes confirm. Cya around more lynn
hi Josh, can we still make cash refund to CPF for HDB loan after age 55
Hi Jessica, Im not 100% sure but I think can le. Best to check w CPF =)
@@joshconsultancy noted, thank you:)
Hi Josh, what's your take on the ever increasing FRS? I think young people will have a very hard time hitting their FRS. Worse still, if they use most of their OA money to fund property purchase.
Hi Johnny, It’s good. On the other hand 1M65 has many fans who idolize building up cpf. Low income families struggle on FRS, it’s an issue I’d like to try help solve with the influence I’ve here :)
Also before turning 55, I returned all my OA money used for our property
Nice one DG 👍
It would even be better if you dont even touch it for properties, or pay it back very quickly, like me. Govt pays me 2.5%pa, not i pay myself ( excuse the bad english) 🤣
@@DonYang73 That’s true, but I needed some help for the property😀
@@damyeuful yes fully understand. Drawing a line somewhere such as 55 like you are doing is good. Cheers
I rather put in SA 4% , to bet 4%
Hi John, sure. Its a one-way ticket. If not used for housing and if SA is not at FRS
I still have $600k in my CPF account although I am no longer a Singapore PR. I will withdraw all CPF fund during next crisis to invest on my own. The return from CPF is just too low.
Hi Zhanyun, sounds good. Meanwhile cpf can be your bond component in your portfolio.
@@joshconsultancy I am not interested if the return is less than 100% because the risk is high.
agreeable as bond
Would be helpful if you'd explain what CPF is first.
Hi JR, by demographics of viewers here, most are very familiar of CPF. Cya around, hope the tutorial is useful =)
@@joshconsultancy Yes, but isn't the idea to get NEW viewers wanting to learn? Maybe not.
@@JRspeaking Are u even Sporean in the first place??
Pls google bro.. u can easily find all e answers frm there.
Period.
at 18yo.......i knew CPF is totally unsustainable.........
Hi WTS, Im not CPF's biggest fan ever but also so far so good =)