When Should You Hit CPF Full Retirement Sum (FRS)?
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- Опубліковано 30 лип 2024
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0:00 - Intro
0:53 - Is FRS enough for retirement?
1:56 - Benefits of achieving FRS early
7:35 - Downsides of achieving FRS early
8:46 - When should you hit FRS?
11:53 - My thoughts
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Great CPF video Kelvin! I just want to clarify here that in the old CPF tax relief policy, we could top-up more than $8000 per year (self) to get tax relief. With the new rules since 2022, it does not make sense anymore to top-up more than $8000 (self) for either RSTU and VCMA. Hence, no need to rush to top up till FRS by 30, because the net benefit will not be that advantageous now.
Thanks for the clarification!!
hoho honeymonesg gg liao cannot tax relief
I achieved minimum sum in SA before 2009 (around 100k at age 40). My total cpf interest gain (OA + SA + MA) was more then 200k at the end of 2022 (age 54), more than enough to transfer FRS ($198800) into RA at age 55 last year . CPF's interest paid my RA saving.😉
Great video Kelvin! Your webull advertisement is getting longer 😅
When I see the title, the answer is so straightforward that I don’t feel like clicking in lol
Please make a video on the margin requirement for option selling for stocks and index.
Can do a video on how to achieve ERS instead?
You can always top up your CPF MA every 1 Jan for tax relief since the MA ceiling goes up every year.
If I can turn the clock backwards and has excess moneys , every year from 1 years old.
CPF accrued interest no longer an issue when you sell your house after the age of 55, before that even if you sell your house having hit FRS before 55 (say 40), you will still need to factor in to pay the cpf accrued interest using the sales proceeds from the house hence eating into your cash profits.
Accrued int is still your money leh… whats the prob e
Bro can make a video on what to invest in if you have spare 100-200k?
Do a video of what age to achieve FRS so that RA ownself hits ERS by 55.
Where can I find the CPF calculator which is shown towards the end of this video?
Here you go :)
valuewarrior.blogspot.com/p/cpf-calculator-test.html
Can you pl prepare a video with info, good and bad of matgage HDB ownership and keep is as SRS, instead of FRS...which is afterall a diminishing asset and at one point children will get zero.
Invest the gain by not putting money into FRS, but in three banks and live on dividends.
Do u mean, compare topup cpf vs topup into srs, then invest the srs money?
@@KelvinLearnsInvesting No, I meant Standard Retirement Sum + HDB Flat pledging vs FRS.
If this retirement sum is of a depleting asset, is it not better to opt for Std Ret Sum + pledging and use the excess amt if it is for FRS, invested in local banks and reap the dividends and still the stocks will go to children.
My guess is 45
A 3 mins webull advertisement for a 12 mins meaningless “everybody also know” video. Most financial educated Singaporeans already knows this, so no need keep repeating & copying other SG youtubers just to get views. Just watch the SG original ones like 1m65 Mr Loo & Ak71SG enough already.
Hi. If I work after 55y( RA is already FRS), can I withdraw my OA anytime? If yes, can I have tax relief for the CPF contributions?
Tax relief is only for contributions up to the FRS..so if you already hit FRS, there is no more tax relief for topping up
Yes, you can withdraw your excess OA any time as you need it. But do remember it gives you 2.5% interest rate. Self top up ,No tax relief after you hits FRS after 55. If I m not wrong, do check with CPFB.
Does anyone knows if I top up my wife special account do I get tax relief? She earn about 3.5k per mth.
Typo in title? “When” not “which”?
Ops, i brainfarted. Thanks!
FRS is around $200k isnt it? ERS is around $400k.. confused
Ya, why?
title short of 1 age
Bro no video today 😢
Nah :) ua-cam.com/users/shortsauTLQP6O9oA?feature=share
@@KelvinLearnsInvesting oh! Shorts! Nice
I dont even need to do any top up and reach FRS before 40. Use OA to buy pte and sell 3-4 yrs and repeat. I can get a hdb worth 1.2m using my profits.
Only poor pple focus on means and ways to hit FRS 😂
before u are 21, means your parents have Topped up for you