Category: CPF & Government Policies

Another Reason Why CPF Top Ups are Incredible Investments

[By Dr Jake Goh]

My son was born last November. We had been planning and waiting for his arrival. But what we didn’t expect was for my wife to undergo an emergency caesarean delivery. Thankfully, I was able to use my Medisave. Then, when I received my year-end bonus, I topped up my Medisave, intending only to maximise my CPF account. But what happened next was a pleasant surprise.   

(more…)

Government Schemes for Singaporeans Over 50 – in a New Integrated Portal

The median age of Singapore’s resident population is just over 40. So chances are that you or someone you know is aged 50 and above, and in need of government assistance. You also may know that there are way too many schemes to keep track of (nearly 50 of them). But now there’s a one-stop portal that was designed especially for the older adult and senior population. It’s called Silver Schemes. (more…)

How Anyone Can Be A CPF Millionaire

cpf chalkboard
The easiest (and safest) way to be a millionaire.

As a Certified Financial Planner, whenever I even mention the word “investment”, people are way too eager to ask about “stocks/equities”, “bonds”, and “funds/unit trusts”, thinking that these are the best, sure-fire ways to financial security and financial freedom. But they are always surprised when I instead mentioned CPF. Although most people think CPF is a retirement tool, I’d like to think of CPF as an investment tool. What other investment is low-risk (or virtually no-risk) and has a guaranteed return of 2.5% up to 6%? What other investment is inflation-adjusted, commission-free, out of reach by creditors, and has an annuity payout that you cannot outlive? To learn more about CPF, please visit the CPF website. (more…)

4 Things to Invest in that will Make You (Not Your Financial Planner/Broker) Wealthy

investing conf
You’ll never hear these tips in a financial seminar (because these tips won’t generate a commission).

It seems that everywhere you look, there’s some guy hosting a free seminar who’s going to tell you secrets on how to pick winning stocks. Sometimes these talks are hosted by financial services companies like RHBInvest and Phillip Capital. Or, they are given by notable “experts” in the field, like Mark Lin and Nicholas Tan. Other seminars are held by financial education companies, like Wealth Mentors, where much of what they teach could be found in a good book (free, from the library).

As a former financial educator who was not tied to an investment company or to selling certain products (and therefore, I had absolutely no conflicts of interest), I can honestly say that for the vast majority of people, these seminars won’t benefit them. They will mainly benefit the organiser(s). So what should these people invest in? (more…)

What the CPF Advisory Panel Should Consider

cpf focus group
These are some things the CPF Advisory Panel should consider.

I recently attended a focus group discussion on various aspects of CPF. These included the minimum sum scheme, how much one needs for retirement, how much of a part should CPF play in retirement, the possibility of a partial lump sum withdrawal, and different considerations on the life annuity payouts. My discussion group was very diverse. There were people in their mid-20s, who have just started their careers, and retirees who were in their early-70s. These are my insights and take-away points from the discussion: (more…)