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



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Friday 6 December 2019

Return My CPF. PayNow!!!


Read? Turning 55 - and enjoying financial freedom (9)



No need for Opposition party to form the next Govt to return my CPF.

Just a few clicks on 'my cpf Online Services' and demand PayNow!

Few seconds later, Uncle8888 received his CPF payment!



Thank you for using 'my cpf Online Services'. 



We refer to your withdrawal application for members age 55 and above - Payment via PayNow (Transaction Number) submitted on 05 Dec 2019. 

Your application has been successfully processed. The payment has been credited to your bank account linked to your Singapore NRIC under PayNow.

$24K CPF Interests Withdrawal


1) Deducted interests from SA first i.e. Jan to Nov (11 months) is $1,534.94


2) Remaining balance deducted from OA i.e. $22,465.06








13 comments:

  1. I am following your blue print. I turn 55 next year

    ReplyDelete
  2. Wow wish I can also withdraw $24K interest every year.

    ReplyDelete
  3. I think I will start monthly drawing out on 2022 for next 23 yrs i.e. up to 88 yrs old at $1180 per month

    ReplyDelete
  4. Best withdrawal strategy if only we want to keep CPF SA principal intact to earn 4% ok interest for as long as possible.

    ReplyDelete
  5. People are now using the Lorna Tan CPF SA shielding hack to preserve as much SA as possible after 55. LOL!!

    This works if your OA is large enough, so that all or most of your RA is funded from OA instead of SA.

    A twist from the old days hack of preserving your OA instead of using it all before getting a HDB loan.

    ReplyDelete
  6. Uncle, I am considering to top up cash $90K to ERS to have a higher consistent baseline income. My wife is 6 years younger. We would probably retire together in 2030 when I turn 65. Her CPFLife payout will kick in 2036. What do u think?

    ReplyDelete
    Replies
    1. Treating CPF Life as consistent baseline for sustainable income for life is good consideration.

      Delete
  7. NO need to wait till 55 we want to draw as when we need

    ReplyDelete
    Replies
    1. Hmm .. one way is to be self-employed and lesser money will be locked in CPF till 55.

      Delete
  8. U yia Bo ? Next year I turn 55 ,, don't play play with my heart ok..I want my money back.

    ReplyDelete
  9. Dum hav to thank the gahment...this is your own saving...nothing new in this article..all freely available on the cpf website...as long as u hav the minimum retirement sum with property pledge or the full retirement sum (around $180 000) in ur RA u could then withdraw ur OA+SA anytime upon reaching 55

    ReplyDelete

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