Read? Meeting Your FRS at 55. Hard hurdle???
Singapore Man of Leisure8 July 2020 at 11:17:00 GMT+8
CW,
Trust but Verify time.
1) Did you, your wife, or children make any voluntary CPF contributions to your wife's CPF account AFTER her "retirement" at age 34?
I am not with Top up your CPF Camp!
2) Did your wife invested with CPFIS or used her CPF to buy and sell property? If yes, were the realised investment gains part of her current RA $164K?
Read? Top Up CPF SA From CPF OA? Depending On Who You Ask!
Good tips or hacks to get rich faster we must jio own spouse; own family, close relatives and close friends. Right? It is common sense!
1. Top up CPF SA from CPF OA
Yes. But, he only did once and never again.
Ha ha, Spur may have to re-do reverse engineering.
2. No CPFIS investing and no deduction for property for wife. I bought my 4 Rm HDB two years before marriage under priority joint balloting scheme for siblings and parents to live near each other.
3) If no to the above 2 questions, can we safely say AFTER age 34, any further contributions into her CPF ONLY came from big daddy's giveaways?
I know where you coming from.
But there will be readers who are thinking about what I've asked but "too polite" or "too embarrassed" to ask you... (Thank you Kevin for starting the ball rolling!)
You know what the sad thing is?
Want to bet there will be bei kambing readers who will take what you say at face value without questioning, when you have left so many questions on the table unanswered...
How's that any different from listening to those other financial bloggers???
Better don't tell me you've "unintentionally" forgot to say part of your wife's RA include the investment gains from that time you "jio" her to buy Keppel and DBS together with you...
I'll kick you all the way to Holland!
LOL!
Posts
CW,
ReplyDeleteMakes one wonder doesn't it?
Non graduate.
Upgrade also upgrade to diploma, no degree needed.
Almost same, same like "FIRE" at age 35 doesn't it?
Only difference is she didn't need to invest to escape...
She married a long term meal ticket ;)
Now who says being "single" is easier to achieve financial independence?
She went farther to "invest" three human assets. Each human asset stayed "invested" for 9 months. Female asset provided monthly passive income after 22 yrs but male asset took two years longer after 24 yrs. Monthly passive income for a long time until until one day she tells them to keep these income for their own family as mummy has enough.
DeleteUncle8888,
ReplyDelete"Ha ha, Spur may have to re-do reverse engineering."
Heehee, if Auntie8888 did substantial OA-to-SA transfer, it means that her historical salary is even lower than my estimate. :P
This means that it is even more possible for someone with very modest salary to hit FRS, given time & patience.
However the elephant in the room still stands --- don't take out for property.
This is also parroted by the CPF cheerleader. But as everybody knows (but keep quiet), in today's context for an average couple to pay just using take-home pay, your salary better be good, better, best! LOL!
Or have no kids. Oops!
Oh btw, in case anyone thinks that it's hard to hit FRS.
ReplyDeleteNope.
It just requires a damn boringly long diligence & patience.
Even if you earn at the 30th-40th percentile of your cohort.
Even if you need to use 100% OA for HDB.
Even if never do cash top-ups (cannot afford & no point since your income tax is so low anyway :P ).
You should still be able to hit FRS just from normal SA contributions.
The catch?? Just need to work non-stop for 25-30 years.
There's a reason why CPF tweaked the interest rates & the contribution rates the way they are. ;)