Somehow we seldom hear Singapore investment bloggers and investment writers talking or writing on Path B approach to become CPF Millionaire.
Hmm .. may be it is true that long-term investing sounds simple on theory; but NEVER EASY to execute as it will require all our 3M to be strongly aligned!
3M in investing : Method, Mind, and Money Management
Read? Investing Made Simple by Uncle8888 (17)
SINGAPORE: Workers in Singapore received a bump of 2.2 per cent in their income in 2019, according to the Labour Force in Singapore Advance Release report released on Thursday (Nov 28).
The nominal median income of Singapore residents on full-time employment increased this year to S$4,563 from the S$4,437 recorded in 2018, the Ministry of Manpower (MOM) report said.
From above median income number; it looks like many Singapore residents on full-time employment may not have large CPFIS as war chest.
Monthly CPF OA contribution @ median income of S$4,563 * 23% = $1,049
Monthly CPFIS growth @ 35% of CPF OA = $367
Annual CPFIS growth and assuming 2 months of bonus = $5,142
How to become CPF millionaire through Path B?
Any secrets?
Toto approach also can...:-p
ReplyDeleteCan. Use prize money from ToTo top up CPF to the Max
DeleteCW,
ReplyDeleteThat's because most people (I assume) would prefer to have that million OUTSIDE of CPF ;)
Having said that, must compliment you - you would be the intended poster boy for when CPFIS was introduced - GROW (Earn More) our CPF savings ;)
Unfortuately, we know how that went...
You are the minority CPFIS success story :(
Then again, if anyone and everyone can have a million in CPF by age 60, how to flex?
Big daddy has capitulated. Now the pendulum has swung to the Save More camp.
They'll do the "investing" on behalf of CPF savers instead ;)
"Daddy, I don't trust myself, you do it for me? Don't worry, I follow you forever and ever!"
If low interest environment remains low for another decade, We will love CPF even more.
DeleteAnother long forgotten investment scheme for Singapore citizens was to sell Singtel shares at great discounted rate. Government soon learnt that was damn bad idea as wealth building
ReplyDeleteGovernment learnt cannot control the market. Cheap can become cheaper
ReplyDeleteCW,
ReplyDeleteLucky they stopped.
Imagine if they went on to sell discounted SPH and SMRT shares?
Near monopolies with strong big daddy connections, what can go wrong?
Or else we will see at Hong Lim park shouting Return My Investment. LOL!
ReplyDelete