Open Sharing: How We Hit S$1.8M in Our CPF!

[@ronnieyong]

God bless you for sharing this with the younger generation. Many of them need guidance.

[@1m65]

Thank u very much

[@nickyyap1663]

Remember, nothing is cheap as time goes by,especially good assets. Grap then when there is a crash. It can be gold, it can be property, it can be solid Bluechips. Why deprived yourself the chance to make your life easier. Unless you like to give excuses after excuses that you don't know how. Time wait for no man. 🙄

[@skirtrunning]

Mr Loo, you are so underrated. Thank you for your wisdom

[@janicetan4626]

Thank you Mr Loo for your generous sharing

[@jasxteo]

Totally agree, I chose to leave my former career and at the worse timing, one month before covid I resigned and who knows I was actually jobless for 2 years, but I paid off my small little hdb flat and no car ownership, I don’t have an expensive lifestyle. So actually I was able to survive very well until I got my break into the new field in 2022. The financial freedom is really very important. To me the ability to not force myself to take a job that I no longer love and in fact hate it is oriceless.

[@chrono9428]

Good job! However, would like to add CPF compounds but the S&P does not "compound".

[@KamLonYee]

Mr Loo I am your follower. I often I listen to yr programm

[@music_adventures88]

Thank you Mr Loo for sharing. I am SAHM I really need to look into my CPF OA for investment so that my CPF will grow while looking after my kid 😅

[@kelvynchin1968]

Nice sharing. Not sure whether you are on CPF Life. Those who are younger than you will have CPF life component to consider. I notice you didn't mention that or the RA. One thing to note is that after one turns 55, if u make any withdrawals, the money is taken from your SA first. So essentially, you can't touch your OA monies without emptying out your SA first. In effect, your OA balance is "snookered". Of course you can use OA to buy stocks etc, and then make a CPF withdrawal of your investment, but I guess you can only do it once as your CPF-IS account with the bank will be closed permanently.

[@angelateo528]

Appreciate your humbly sharing. TGIF and have an enjoyable weekend.

[@1m65]

Thanks, you too!

[@engjoo]

Regarding MA, it is ok to use it but one should also top up right away as these top up (up to $8k) will give you tax relief. This is better than not using MA at all. It is also advisable to top up MA to the prevailing limit each new year so that new contribution will flow into SA/OA instead.

[@bernardloh777]

Happy for you Mr Loo

[@esy15288]

Mr Loo, I am your fan since 2022

[@1m65]

Thank u very much

[@christyhilton1919]

Hello Mr Loo, your humble follower. Very thankful to your immensely generous sharing to help fellow singaporean to achieve financial freedom in pretty brainlessly way. Is S$ 1.8 m your current net worth?

[@1m65]

Well, I do have some wealth in cash stocks, businesses, ventures, cash and a humble HDB and a written off JB house. Don’t really know my net worth, and need not know.

[@lohti6399]

Medisave basic health sum for 2024 not out yet ? Will BHS be lower due to higher GST ?

[@1m65]

I don’t know

[@raymondlim5358]

Hi Mr Loo, thank you very much for your sharing, i really learn a lot from you! May i know whether we should buy private hospitalization insurance please? Thanks

[@1m65]

yes a must!

[@raymondlim5358]

Thanks Mr Loo@@1m65

[@YaroslavKovalenko-b3f]

Hi Mr Loo, do you mind sharing why did you transfer your unit trusts from FSM to Endowus? Thank you.

[@xiaocai7]

Respect your humility of staying in a HDB despite being able to afford private properties. Not fazed by peer and societal pressure to "upgrade home" Even Warren Buffet and Charlie Munger stayed in their home for many years.

[@prophunter8865]

Good sharing! S&P500 investment is really no horse run, but have to have a ball of steel to hold!

[@1m65]

It sure is!

[@1m65]

Or invest and forget it!

[@leanne2330]

Isn't it the max CPF contribution is $37.5k a year a person? Any extra, it will bounce back to us in Jan.

[@nickyyap1663]

Thanks for sharing.

[@g.o.a.t4393]

House as investment is not liquid. It's not mobile.

[@1m65]

Many Singaporeans don’t care about it …

[@ibrahimseth8646]

Just do this. Loan1=3.6M Yield=6% Year=30 Loan(30 Year)=1.06^30*3.6M Loan(30 Year)=21M Payout(30 Year) =Loan(30 Year)+150%(income) =21M+31.5M =52.5M Insurans: Payout(30 Year)=52.5M Premium=? Yield=12% Year=30 Premium=52.5M/1.12^30 Premium=1.8M(Balance=1.8M) Loan1=Premium+Balance Loan1=1.8M+1.8M Loan1=3.6M Thank you.

[@nicholasgoh3526]

2 of the most important things in life is trust and liquidity. CPF has neither of these. You can’t even withdraw part of it when you are unemployed and on the verge of jumping down your HDB flat. Just take it as a pyramid scheme or another form of tax. If you can withdraw some while you are still alive, just take it as a bonus or striking 4D (not even Toto because you will not be able to withdraw that much).

[@ahjingteo7497]

Summary: 1. Top up SA and OA to limit in late 20s and early 30s 2. Had more than 1 jobs. Each job can contribute up to CPF limit (currently $37 500) each. 2 jobs potentially mean 37500 x2 3. Crash time buying. When stock market crash, use OA and SRS account to buy S&P 500. (can only use Endowus for OA account). S&P500 has 100 yrs of record averaging 8-12%. Tip: DCA over long is a bit like crash time buying, if very disciplined about DCA 4. After bought S&P500, ignore crashes. Also ignore the rises (cos will be tempted to sell). Ignore market volatility. 5. Do not rob your CPF if you have decided on this path 6. Do not rob your medisave 7. Right now, can use OA to go for T-bills

[@1m65]

Thank u very much for the summary. I will post it up in my description! Everytime you do it, I will put it up! Thank u very much

[@1m65]

Eh…. I can’t copy it. Can email me? [e-mail]

[@andrewlee1275]

How do we convert OA to T Bills? via endowus?

[@1m65]

@@andrewlee1275your CPFIS bank will do

[@leanne2330]

Item 2 need to check. There's a limit however no. Of jobs one holds.

[@alextay2543]

I can't find s&p in endowus kindly screenshot...thank

[@1m65]

I buy Amundi or lionglobal 500.

[@sepa3740]

Mr. Loo good boy

[@vincensiaxiuqingwu4126]

Hi gd afternoon Mr Loo

[@chyelinchong9269]

Good evening Mr Loo 👋🥰

[@1m65]

Hi Chye 𝓁𝒾𝓃𝑔!

[@lynnchua1890]

Hello Mr Loo… 1.8M is for you and your wife, or just yourself

[@angelateo528]

Would it be good to use cash to DCA and at the same time leave OA alone?

[@1m65]

Cash is worth a lot now a days. So I rather use OA first

[@sgboon]

?? If investing OA can get 5% return, why keep it in OA?

[@168hugo]

This is interesting

[@alphaev7]

Hi Mr Loo, cn share you returns so far over the years from endowus S&P 500?

[@1m65]

I shared in the video…. S$200k+

[@willsontoh7105]

i think you have to mirror the video. lol i cant read it

[@1m65]

I trying to figure out a software that can enlarge for me….

[@alfaen673]

@@1m65 It's not just the size. the words \ figures on the screen is reverse, need to flip around.

[@ImBrandonLim]

How do u work 3 jobs?

[@OngLes-vv1uj]

What did u do to yr face, suddenly handsome

[@royboon2128]

nah if anything happen to you then money down the drain. enjow while it last

[@chinchowpowpook]

Chase $$$ ..then retire in Malaysia…Pui…spineless ..even sweeper and cleaners paid tax n soldier on in sg with smiling face

[@yekai7599]

If you die early, ur CPF money can't be spent...

[@kelvynchin1968]

Yes, but if you don't die early, and you spent all of your money, when old you got nothing ie destitute. Life sucks, so take your pick how u want it to suck LOL

[@yekai7599]

@@kelvynchin1968 rather spent my money,then when I old got alot of seniors benefit left, then die early and all my money disappear

[@choonsengteo9694]

Billionaire in the making.

[@1m65]

I wish…. Dream on