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!

Click to email CW8888 or Email ID : jacobng1@gmail.com



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Friday, 31 May 2019

CPF OA After 55 Is A Financial Proof Of Ready Cash


Uncle8888 learnt something new when he became one of the two sureties for an overseas scholarship as retiree without IRAS assessment statement. 

 He was told that he still qualified as surety by submitting his CPF OA statement as financial proof of cash.

 CPF OA after 55 is power!

 Quickly go and top up CPF before 55!



Posted by Createwealth8888 at 20:03
Labels:

8 comments:

  1. Createwealth888831 May 2019 at 21:17:00 GMT+8

    Never top up CPF.

    ReplyDelete
  2. Createwealth888831 May 2019 at 21:45:00 GMT+8

    During my time; there was cap for CPF mandatory contribution at $5K per month so it didn't matter how much we earn after hitting $5K limit.

    ReplyDelete
  3. Createwealth88881 June 2019 at 07:47:00 GMT+8

    The reason why 1M65 movement is popular. LOL!

    ReplyDelete
  4. Small Time Investor1 June 2019 at 11:25:00 GMT+8

    Uncle 8888 time should be CPF contribution rate is 50% compared to 37%. Many many

    ReplyDelete
  5. Spur1 June 2019 at 12:38:00 GMT+8

    50% contribution rates only for a few years. 40% rates slightly longer but also didn't last long.

    And Uncle8888's salary during those years wouldn't be that high (plus the $5K monthly salary cap & also total annual contribution cap). ;)

    During AFC & for many years after, the monthly salary cap subject to CPF was further reduced to $4K -- to allow punch drunk Sinkie workers to take more salary home LOL. And let companies pay less CPF. Not that that many Sinkies were earning > $4K those days.

    The relatively higher interest rates till the late-1990s helped though! :) But of course you have to take higher inflation --- that's why interest rates high mah! Those born after 1980 have NO IDEA what real inflation feels like LOL! Most of today's startups & app companies wouldn't be able to survive in those years.

    Actually no secret to 1M55 --- earn at least today's median salary, make sure no retrenchment or firing for 30 years, buy BTO in non-mature estate, don't upgrade (or buy extra) property.

    No need to top up CPF! ;)

    ReplyDelete
    Replies
    1. Small Time Investor1 June 2019 at 17:08:00 GMT+8

      Ah.. uncle spur also should be near uncle 8888 age.

      Hmm not those who is near/or adult hood in 1980s?

      Delete
    2. Createwealth88881 June 2019 at 20:42:00 GMT+8

      Real "pit chia Lobang" from Spur to beat 1M65! Ha ha!

      Actually no secret to 1M55 --- earn at least today's median salary, make sure no retrenchment or firing for 30 years, buy BTO in non-mature estate, don't upgrade (or buy extra) property.

      Delete
    3. Createwealth88881 June 2019 at 22:25:00 GMT+8

      Whole department or division retrenched. A grader office politicians also no use.

      Delete

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