Read? CPF Special Account (SA) Shielding: How You Can Perform This
Uncle8888's ex colleague who turned 55 this year did CPF SA shielding with his FA; and after 55 he sold his CPF SA shielding fund and returned the money back to his CPF SA.
His immediate loss from this SA shielding is -2.7%.
Never mind! It just needed 2 years of additional 1.5% in CPF SA to recover this loss and; then from 57 yrs old onwards; every year gets additional $2K interests! Shiok!
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CW,
ReplyDeleteEh?
His FA never promote the SMARTER way to grow his CPF is....?
LOL!
CW, your ex-colleague quite unfortunate to be doing SA shielding in this current climate. But still it is worth the trouble for him as the SA savings will earn him the 4% and compounded yearly.
DeleteMost of my younger colleagues who turned 55 and shielded their SA actually made a few hundred dollars from the short shielding move. Now they have $250,000 in their SA earning 4% annually.
Hi CW,
DeleteDo you want to have your "CPF Wealth Tree" planted? I have planted over 30 such trees, from 21 yo to 62 yo. See here : https://t.me/Loo1M65/299098
Uncle8888,
ReplyDeleteHope he didn't have to pay the FA for it lol.
Any bonds with duration longer than 1 year are getting haircuts due to Fed.
Money market funds are starting to accelerate upwards these 2 months though, same as SSB's. Too bad can't use these 2 for SA shielding.
One good thing from this single data point will be that it's less likely for govt to close the loophole. ;)
No additional charges for buying and selling. May be for FA to meet his sales number. LoL!
DeleteI also lost last year. But ok can recover from the extra 1.5%.
ReplyDelete