Now Uncle8888 becomes low income earner who doesn't have to pay any tax! This Sep 2018 he will unlock his SRS and draws out $12K per year over the next few years to avoid paying any tax. That is the primary objective of SRS! Tax deduction! SRS will be his source of fixed income upon 62 and then RA upon 65.
$12K from SRS and $24K from CPF OA & SA
Fixed income for 2019 will be $36K! He also into assets allocation! Hee hee!
Last updated : 15 Sep 2018
I am 62 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 3nd year Uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
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