Wednesday, 15 August 2018

How Much Did I Save From Earned Income After Tax Till 30 Sep 2016 (Retirement From Full-Time Job)


From Jan 2002 to 30 Sep 2016 (retirement from full-time job); Uncle8888 has managed to save about 40% of TOTAL earned income (including employee and employer CPF contributions) after tax. 

 25% in CPF accounts and 15% in cash!

 That is for family of five as single household income!




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5 comments:

  1. WGM16 August 2018 at 05:16:00 GMT+8

    Wah! Congrats! I can't imagine supporting 4 other people while saving 40% of my total income for 14 years. Hope I can achieve that next time!

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    Replies
    1. Createwealth888816 August 2018 at 09:56:00 GMT+8

      I think current generation may find it hard to save much money in their mandatory CPF accounts due to high property price if using CPF to pay housing loan.

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  2. RayNg16 August 2018 at 18:46:00 GMT+8

    Under statement???

    1. CPF contribution ~37 of income (including bonus). Part of it goes to housing, balance in OA/SA/RA/MA.
    So, your 25% is excluding housing right?

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