CPF SA closed: What should you do now?

Budget 2024 announced significant changes for the CPF program to streamline the program and remove loopholes within the system. The CPF Special Account (CPF-SA) is a liquid store of value that provides a riskless 4.08% return with the latest changes, it will close for all members above the age of 55. CPF members would now have to struggle with choosing whether to commit funds to the CPF Ordinary Account (CPF-OA), which would provide a greatly diminished 2.5% return or the CPF Retirement Account (CPF-RA), which preserves the 4.08% returns but can only allow a 20% withdrawal at age 65. Find out more in the video on what should you do now moving forward. Otherwise, you can read more here: www.drwealth.com/a-best-effor...
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[@chrono9428]

I beg to differ. Stocks always carry risk. Dividends/Rentals are not guaranteed. At 75, I am not even sure one can remember one's bank saving account number. Hence your floor should be as high as possible. If I have a million dollars, I would max out CPF Life and only invest the rest in absolute guarantees like government bonds.

[@chinchowpowpook]

Unfortunately “if i have” unbelievably u about to die in next 5 Christmas or so still harvest the dream of get rich. Max here max there,,where u can’t even max your life to enjoy the return ..pathetic

[@simonchin7746]

Actually I have the same sentiments. We don't know our mental capacity as we age. So it might be better to max the CPF Life and get a higher payout especially if it the only revenue stream one has.

[@compass_128]

Dr Welath, Thanks. Now I have a good understanding of the Basic Plan

[@rpj341]

This is the best explanation of CPF Life. It also contains a proposed retirement plan comprising CPF Life and a dividend/rental portfolio

[@CalvinK-the_old_fogey]

I agree. It’s the best explanation so far and I appreciate the advice at the end of the talk about not to be over-insured.

[@Utube1024]

I do once a year investment in iTOTO buying at several places. So far able to recoup back the capital and even made a small profit. Looking forward for next year Hong Pow draw 2025 😛 HUAT AH !!!

[@andrewsim5725]

Well done. One of the best explanation in KZbin. Thanks so much 😊

[@fishphage2762]

dr wealth is an underrated financial guru. well done dr wealth and thank you.

[@ObeluStrawberry]

may i check at which point do you decide how much to put into CPF-life? at 55 or 66? for example can you top up your RA to 4xERS to earn the compounding 4% till 65. then you only put in like what you mentioned 300k or even lower, then withdraw the rest ?

[@lobsterking3633]

Worst still stock dividends companies closed down … all money gone .. Risky too if you don’t know how to read financial reports

[@user-uj2li6jg6s]

Very clear explanation thank u 🙏

[@lynnc6155]

Do you have videos on how to invest in dividend stocks?

[@lynnc9531]

Dr Wealth, could you cover a topic with the concern for those whose SA accounts are now closed, how best can they cover the 4% interest lost...thank you

[@magnusthor6259]

What does it mean breakeven at 75 years old for standard plan. Say $300,000 in RA. Started withdrawing monthly $1500 at age 65, so yearly is 18,000. If death occurs at 75 years old, I collected $180,000 and my beneficiaries get $120,000. I lost all interests in the 10 years from 65 years old to 75 years old. What does it mean to break even at 75 years old?

[@BBallUncleSLim-vr3rf]

I found the table shown at time stamp 9:30 a little confusing. What happened to the compounding effect from age 55 to 65 (10 years)? The BRS, FRS, OERS and ERS you have described should be based on age 55, instead of age 65 shown in table. For example, if i have FRS of $205,800 at age 55 in year 2024, my CPF LIFE payout basic plan will be $1,510 (instead of $1,040 in table) at age 65 (year 2034). While we may not know for sure the baseline expenses for a 65 y.o. in 2034, i would think the adequacy of CPF LIFE payouts could be better than what you have claimed in your video.

[@Ben-gp5ty]

It was mentioned that with 4xERS in 2025, the payout is about 3,300, is the monthly payout table correct ?

[@stevenlee5019]

One of the most unclear and assuming that their audience is on their same level of understanding. I had better perception of Dr Wealth when it comes to putting this to a basic so that non savvy investors is able to understand what WOULD BE THEIR NEXT STEP TO TAKE!!

[@stan2509]

The figures on ERS payout is wrong at 65 when your commit $300k at 55

[@ericboon-gl5si]

my suggestion, continue put inside RA and sleep. then opt for basic plan. close case. make nomination today hor..

[@tim1934]

Think there are errors in the payout at 9:25.

[@Ben-gp5ty]

At the age of 65, can I redraw anything in excess of ERS ?

[@compass_128]

Your video is very clear

[@compass_128]

Throughly explained.GREAT video

[@poko71]

Can you check again RA $ cannot withdraw from 55-65? Shouldn't it be CPF allows withdrawal from RA in excess of FRS + interest earned + top-ups? at least before further CPF changes.

[@DrWealthVideos]

www.cpf.gov.sg/member/faq/retirement-income/retirement-withdrawals/conditions-to-withdraw-part-of-ra-savings-using-my-property Hi, withdrawal from RA is only possible with Property Pledge, which probably requires a separate video explanation by itself 😅

[@stevenheng3336]

By far, the simplest and clearest explanation!!

[@stan2509]

The payout figures are wrong based on $300k commmited at 55

[@bkoh1771]

Pls enlighten. I thought 4x BRS will get about $3.3k as highlighted in many news articles.

[@CalvinK-the_old_fogey]

You can check this yourself in the CPF website. There is a CPF Life estimator calculator.

[@tanhakkoon]

Maybe today $1,500 per mth is more for eat and wait to die lifestyle.

[@cac1504]

Focus on CDC vouchers, no need to worry about SA.

[@jessiechew4192]

What is CDC peanut compare to SA😂😂😂

[@chinchowpowpook]

Anyone who look forward to vouchers or handout is pathetic beggars..mind screwed..hope u don’t passed that knowledge to next generation..

[@onexoxtoo]

VTO

[@chinchowpowpook]

U know what is investing? Something in and something out for enjoy when make profit..as n when..cpf even at 20% is not an investing tool, anything u can draw out $1 to buy ice cream later or tmr is not!!! What go in and don’t come out till u aged like spoiled cheese is called jail

[@LonganLee]

What if the long term "lock up" resulted in some sleeping outside? 🤭🤭🤭🤝🤝😉😉🏆🏆👍 Can use for buying a pigeon hole. Oh, we can spend tax money to house them? Same same but different? 🤭🤣🏳️👍🤝