Should You Contribute To SRS?

[@user-dv4rh2my1x]

This guy is underrated. Probably the best Singapore educational youtuber

[@KelvinLearnsInvesting]

Haha, thanks for the kind words

[@boonteeeng460]

Indeed the limited investment option is a problem. Actually one way that we can optimize SRS is by maxing up the contribution in the last few years just before retirement. This way you can save some taxes while keeping the SRS account small to avoid paying too much taxes during the withdrawal phase

[@ryankoh2606]

Kelvin, for Pple pursing FIRE, it is good to contribute too because SRS can withdraw at 62 instead of 65 for CPFLife. This allow 3 more years to withdraw. But of course, once you reach FIRE, then no point to contribute. Good video. Thanks

[@seanomics]

Dear Kelvin, very true, money works better elsewhere than sitting in SRS. Unless it earns me 4% guarantee interest like SA, that will be a different story ... lol

[@verbie65]

For Malaysian, foreigner or PR, before you consider to contribute to SRS, pls note there are withholding tax of 24% when you withdraw from SRS and you will be tax as non resident !!! 😢😢😢

[@curiousboy2204]

The main problem I see in SRS is that the money is locked in and not meant to be taken out. And SRS seems to be more for ppl who have to pay high taxes (meaning they earn large income).

[@aktor8132]

Don't put too much in SRS, when you withdraw at age 62 , the tax if I am not wrong depends on income tax if be below 20,000 should be 0 but again tax can change.

[@delphikit]

As of now, when u reach retirement age, u can withdraw up to 40k tax free/yr. Read "Withdrawal After Retirement": www.iras.gov.sg/irashome/Individuals/Locals/Working-Out-Your-Taxes/Special-tax-schemes/Supplementary-Retirement-Scheme--SRS-/Tax-on-SRS-withdrawal/

[@fangzongheng894]

Just liked this video because it mentioned "Supplementary Pao Pao Cha Scheme" hahaha !! Keep up the good work !!

[@KelvinLearnsInvesting]

Thanks!!

[@wenkangchin1655]

thanks for the tip on "locking down the retirement age of 62", account opened!

[@chloeng0179]

Hello kelvin! Thank you for the insightful video!! Appreciate it, just one question could I ask how the 2239 yearly tax was derived for da XM? Haha cbecause by IRAS it would be 7950 on the first 120k? Thank you!!

[@kamal9991999]

Nice videos and good knowledge sharing . Thanks . Request for Tesla updates . 🙂👍🏽

[@shellyannegoh6054]

Could you do a simple video please to help us read or make sense of the google graphs of tesla, etc you use to show us?

[@StanLeyBadoet]

Nice! just opened my SRS account in DBS. so simple!

[@milowife]

how do you calculate he have $1,282,579?

[@aneesahamed9746]

First Like and First Comment.. YAY!!!

[@KelvinLearnsInvesting]

Here's a heart!

[@ezann]

No to SRS as you can only invest in SG stocks and the STI is 😰 compared to US market

[@tansiaklim582]

You can still access overseas stocks with your SRS money by investing in unit trust. in 2020, you would have achieved> 50% return in China equity with your SRS money buying China equity fund. But of course, this year will be different.

[@KelvinLearnsInvesting]

Good advice! Unit trust should give better yield than local stocks

[@raghuprasath001]

Hi Kelvin.. thanks for the video.. very useful. Do you have recommendations on platform to use for SRS investment?

[@jameslww]

Thanks for the tip on SRS account opening :)

[@tommyleong8328]

Came to say, I opened SRS account with $1 after watching your video. LOL, just to unlock the 62 age thingy. LOL. Also am I right to say, first 400k becomes tax-free after retirement age if one withdraw 40k per year?

[@arielcyl]

Very informative and straight forward

[@jacklai2120]

Thanks for the tips and content Kelvin. Love your channel! There is no account maintenance fee to open SRS account with DBS right?

[@KelvinLearnsInvesting]

From what i understand, there's no maintenance fee in srs

[@JazzySaxy]

This is not really related to SRS but, any chance you could talk about Day Trading? Any advice/experience on Day Trading using DBS Vickers or Saxo?

[@Longtermalwayswins]

i think Endowus has the option to invest in lionglobal s&p 500. which srs can be used

[@gnvsem8640xnq]

Srs for tax relief, is property tax also subject to tax relief if I use srs to invest ? Tks

[@KelvinLearnsInvesting]

Property tax no relief

[@eugenechang4258]

How about those who reach 55 years old but earn low salary, should he open and contribute to SRS?

[@boontonglee2481]

can i open SRS account with DBS bank, and use FSMone to buy share using money from SRS account ?

[@KelvinLearnsInvesting]

Yes can

[@dovetofree]

Can you share what are the products we should invest our OA to beat the 2.5% given by cpf?

[@limav2906]

Hi, Can some one please confirm these 1. If i invest in Singapore bonds the dividends earned are tax-free. but if i invest using SRS money then i will need to pay tax on 50% on dividends too while withdrawing final amount. is that correct? 2. Do i need to pay 50% tax on SRS money while i am using it for investment and will i get that 50% tax back when i pull the money from investments and credit it back to SRS account.

[@khalidhamid7448]

Very well explained

[@haiziwang]

very sensible stuff!

[@annelim582]

Does it make sense for a retiree who has no income to open an SRS account ?

[@savethebees2506]

So Kelvin gor gor, if we already invested in SRS (😭), how can we maximise the sum there ? Invest SRS in what unit trusts .... Is best... ? Robo advisor?? 🤭 Thanks!!!!!

[@KelvinLearnsInvesting]

If unsure which to get, can take a look at endowus or stashaway, both allow to invest srs money

[@eightfoldsg]

I like your humour, lol

[@mnorberta24]

hi, sorry if this is a dumb q lol but are investments/profits i earn from investing subject to taxes in sg? :")

[@KelvinLearnsInvesting]

Ah, no wories :) There's no taxes for capital gains or dividends in singapore

[@investinyourfuture713]

Hey Kelvin bro, thanks for sharing. the main reason for SRS is to reduce taxes because the returns from SRS are pathetic. A balance and high ROI portfolio can perhaps be SRS 10%, High growth US Stocks 80%, Cryptocurrency 10%. What are your thoughts on this?

[@KelvinLearnsInvesting]

I think this is possible. Srs for stable stocks, us stocks for growth. Personally crypto is only 5% in my portfolio, but if u are ok 10% its great too

[@aichee0126]

Is good for foreigners to invest in SRS as no CPF contribution and employer will contribute 17% while employee contribute 20%.

[@KelvinLearnsInvesting]

I feel it also depends if he/she wants to retire in SG or not

[@aichee0126]

@@KelvinLearnsInvesting yeah,just leave it as retirement fund

[@dheeraj86mathur]

I wish to know SRS rules and investment options specifically for foreigners in singapore. Can you please help with that.

[@KelvinLearnsInvesting]

Foreigners can contribute a larger amount $35,700 to srs. Other than that, there's no difference

[@L3dn0d]

I read somewhere that foreigners can withdraw without penalty if he maintained the SRS account for 10 years from the first time opening. Not sure how true it is

[@smellybing]

Kelvin loves his pao pao cha. Always have bubble tea joke in his video

[@jacklee1612]

The fact that the government have total managerial control over the account, greatly dissuades me to put anything more than $1. Think about it, how many times they already raise the retirement age, it could jolly just happen when they deem fit, and there's nothing you can do about it.

[@KelvinLearnsInvesting]

Yea haha, it depends whether u trust they will keep their word or not

[@malcolmmalcolm4718]

hi kelvin can you do a video regarding FSMONE?

[@KelvinLearnsInvesting]

Don't worry, im planning for it :)

[@melvinlow7480]

What u mention to open an acc and transfer $1 to the srs acc to lock the minimum age at 62 After which I f I don’t contribute anymore to this acc will it be terminate or need to pay acc maint fee in the future? Another when lock at 62 , future age increase will only not affect this acc not related to our Ra acc right?

[@KelvinLearnsInvesting]

There's no minimum, the account won't be terminated, so no worries

[@PptyS209]

How to use SRS account to buy singapore stocks?

[@KelvinLearnsInvesting]

You need to use either dbs uob or ocbc to access srs

[@Zhongxina173]

Hi Kelvin. Could you do a video on how to purchase ETFs via SCB? Something similar to the IB guide you did :)

[@KelvinLearnsInvesting]

Give me some time to plan it out :)

[@Zhongxina173]

@@KelvinLearnsInvesting Looking forward!

[@lucasyee123]

I don’t have SRS

[@KelvinLearnsInvesting]

Can use $1 to open :D

[@spuncyco9914]

LOL U CALLED IT, GOVT INCREASING TO 67yrs

[@ron2040]

No.. Srs not worth in the long run

[@onglielie]

So confusing...

[@misslurmath]

Cant the withdrawal age be increased? Just like CPF used to be withdrawable at 55, now is 62.

[@KelvinLearnsInvesting]

For srs, terms n conditions state that withdrawal age is fixed at account opening

[@c-k4666]

too many ads in your video

[@pylpoh]

Steady pom pi pi

[@larrymah8815]

whether you put in SRS or not and how much taxes you save, you still have to pay tax at the end when you withdraw above 20,000 🙂

[@KelvinLearnsInvesting]

Haha, yaa

[@idunnoosola]

Hey Kevin, can I connect with you privately? Make friends make friends.

[@KelvinLearnsInvesting]

Hi, come join the discord channel: discord.com/invite/Sj5HG6sedv

[@ramalingamsangeetha9987]

Thanks

[@jkho8365]

Imo srs is only worth if u are close to 62 years old haha

[@misslurmath]

Can you elaborate please

[@random123659]

death and taxes 😂😂😂

[@KelvinLearnsInvesting]

True story