I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

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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!

 
Posted by Createwealth8888 at 20:35
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14 comments:

  1. Createwealth888824 December 2015 at 20:37:00 GMT+8

    We learn best from our own personal experience.

    ReplyDelete
  2. Createwealth888824 December 2015 at 20:41:00 GMT+8

    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. Singapore Man of Leisure24 December 2015 at 21:27:00 GMT+8

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

      Delete
    2. Createwealth888824 December 2015 at 23:02:00 GMT+8

      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. The Sun25 December 2015 at 19:36:00 GMT+8

    Hi Createwealth8888,

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

    ReplyDelete
    Replies
    1. Createwealth888825 December 2015 at 22:03:00 GMT+8

      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. OT8327 December 2015 at 13:36:00 GMT+8

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

    ReplyDelete
  5. Createwealth888827 December 2015 at 14:59:00 GMT+8

    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. OT8327 December 2015 at 19:28:00 GMT+8

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

      Delete
    2. Createwealth888827 December 2015 at 19:38:00 GMT+8

      The problem are those with their home as property only.

      Delete
  6. OT8327 December 2015 at 19:26:00 GMT+8

    This comment has been removed by the author.

    ReplyDelete
  7. OT8328 December 2015 at 18:43:00 GMT+8

    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. Createwealth888828 December 2015 at 18:47:00 GMT+8

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

      Delete
  8. Createwealth888829 December 2015 at 07:59:00 GMT+8

    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. :-)

    ReplyDelete

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