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Thursday, 24 December 2015

Is CPF Accrued Interest for our housing loan increasing and we have to pay back one day when we sell our house?



Before 55 ....



 





No. Once we reach 55, this CPF accrued interest is game over!

 

16 comments:

  1. We learn best from our own personal experience.

    ReplyDelete
  2. Same as CPF Education loan to your children, once we reach 55 we can waive off the payment of CPF education loan plus accrued interests by our children.

    ReplyDelete
    Replies
    1. Sometimes its better to ask those coming down the mountain than those who are still climbing the mountain ;)

      Delete
    2. Through reading, it can only take us that far; but by passing through it we will know we have been there at least once.

      Delete
  3. Hi Createwealth8888,

    Is it because you had the met the minimum sum required that caused the accured interest to be waived?

    ReplyDelete
    Replies
    1. That right. Once we meet the minimum sum, the rest of our CPF OA balance is for us to keep it in there or withdraw out.

      Delete
  4. the problem is how many young people can meet the minimum sum?

    ReplyDelete
  5. Even among my peers, some couldn't meet the minimum sum and have to pledge their house. How come?

    They chase after another home/property and got them into another debt and become asset rich but cash poor.

    Why so many keep thinking after more than 30 yrs still cannot accumulate enough in CPF to meet minimum sum?

    You have no problem in meeting since you are debt free. Right?

    ReplyDelete
    Replies
    1. People can sell their 2nd property and use the earning to cover minimum sum?

      Delete
    2. The problem are those with their home as property only.

      Delete
  6. This comment has been removed by the author.

    ReplyDelete
  7. Actually if accrued interest will be waived off if ms is reach, wouldn't it be better if we top sa yearly when we are young to get tax rebate and for hitting ms?

    ReplyDelete
    Replies
    1. The question is for us to answer. What do we want to be? Be saver or good investor?

      Delete
  8. You have to be both if you want to carry on to grow your wealth to your last day on Earth.

    ReplyDelete
    Replies
    1. The Three Taps Solution to Sustainable Retirement Income For Life will help us to achieve that and may be able to leave behind some and especially the investment portfolio. :-)

      Delete

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