This guy is underrated. Probably the best Singapore educational youtuber
@KelvinLearnsInvesting3 жыл бұрын
Haha, thanks for the kind words
@boonteeeng4603 жыл бұрын
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
@ryankoh26063 жыл бұрын
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
@seanomics3 жыл бұрын
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
@verbie6511 ай бұрын
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 !!! 😢😢😢
@curiousboy22043 жыл бұрын
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).
@aktor81323 жыл бұрын
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.
@delphikit3 жыл бұрын
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/
@fangzongheng8943 жыл бұрын
Just liked this video because it mentioned "Supplementary Pao Pao Cha Scheme" hahaha !! Keep up the good work !!
@KelvinLearnsInvesting3 жыл бұрын
Thanks!!
@wenkangchin16553 жыл бұрын
thanks for the tip on "locking down the retirement age of 62", account opened!
@chloeng01792 жыл бұрын
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!!
@kamal99919993 жыл бұрын
Nice videos and good knowledge sharing . Thanks . Request for Tesla updates . 🙂👍🏽
@shellyannegoh60542 жыл бұрын
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?
@StanLeyBadoet3 жыл бұрын
Nice! just opened my SRS account in DBS. so simple!
@milowife3 ай бұрын
how do you calculate he have $1,282,579?
@aneesahamed97463 жыл бұрын
First Like and First Comment.. YAY!!!
@KelvinLearnsInvesting3 жыл бұрын
Here's a heart!
@ezann3 жыл бұрын
No to SRS as you can only invest in SG stocks and the STI is 😰 compared to US market
@tansiaklim5823 жыл бұрын
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.
@KelvinLearnsInvesting3 жыл бұрын
Good advice! Unit trust should give better yield than local stocks
@raghuprasath0012 жыл бұрын
Hi Kelvin.. thanks for the video.. very useful. Do you have recommendations on platform to use for SRS investment?
@jameslww3 жыл бұрын
Thanks for the tip on SRS account opening :)
@tommyleong83283 жыл бұрын
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?
@arielcyl3 жыл бұрын
Very informative and straight forward
@jacklai21203 жыл бұрын
Thanks for the tips and content Kelvin. Love your channel! There is no account maintenance fee to open SRS account with DBS right?
@KelvinLearnsInvesting3 жыл бұрын
From what i understand, there's no maintenance fee in srs
@JazzySaxy3 жыл бұрын
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?
@Longtermalwayswins3 жыл бұрын
i think Endowus has the option to invest in lionglobal s&p 500. which srs can be used
@gnvsem8640xnq7 ай бұрын
Srs for tax relief, is property tax also subject to tax relief if I use srs to invest ? Tks
@KelvinLearnsInvesting7 ай бұрын
Property tax no relief
@eugenechang42582 жыл бұрын
How about those who reach 55 years old but earn low salary, should he open and contribute to SRS?
@boontonglee248110 ай бұрын
can i open SRS account with DBS bank, and use FSMone to buy share using money from SRS account ?
@KelvinLearnsInvesting10 ай бұрын
Yes can
@dovetofree2 жыл бұрын
Can you share what are the products we should invest our OA to beat the 2.5% given by cpf?
@limav2906 Жыл бұрын
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.
@khalidhamid74482 жыл бұрын
Very well explained
@haiziwang3 жыл бұрын
very sensible stuff!
@annelim5823 жыл бұрын
Does it make sense for a retiree who has no income to open an SRS account ?
@savethebees25063 жыл бұрын
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!!!!!
@KelvinLearnsInvesting3 жыл бұрын
If unsure which to get, can take a look at endowus or stashaway, both allow to invest srs money
@eightfoldsg3 жыл бұрын
I like your humour, lol
@mnorberta243 жыл бұрын
hi, sorry if this is a dumb q lol but are investments/profits i earn from investing subject to taxes in sg? :")
@KelvinLearnsInvesting3 жыл бұрын
Ah, no wories :) There's no taxes for capital gains or dividends in singapore
@investinyourfuture7133 жыл бұрын
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?
@KelvinLearnsInvesting3 жыл бұрын
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
@aichee01263 жыл бұрын
Is good for foreigners to invest in SRS as no CPF contribution and employer will contribute 17% while employee contribute 20%.
@KelvinLearnsInvesting3 жыл бұрын
I feel it also depends if he/she wants to retire in SG or not
@aichee01263 жыл бұрын
@@KelvinLearnsInvesting yeah,just leave it as retirement fund
@dheeraj86mathur3 жыл бұрын
I wish to know SRS rules and investment options specifically for foreigners in singapore. Can you please help with that.
@KelvinLearnsInvesting3 жыл бұрын
Foreigners can contribute a larger amount $35,700 to srs. Other than that, there's no difference
@L3dn0d3 жыл бұрын
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
@smellybing3 жыл бұрын
Kelvin loves his pao pao cha. Always have bubble tea joke in his video
@jacklee16123 жыл бұрын
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.
@KelvinLearnsInvesting3 жыл бұрын
Yea haha, it depends whether u trust they will keep their word or not
@malcolmmalcolm47183 жыл бұрын
hi kelvin can you do a video regarding FSMONE?
@KelvinLearnsInvesting3 жыл бұрын
Don't worry, im planning for it :)
@melvinlow74803 жыл бұрын
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?
@KelvinLearnsInvesting3 жыл бұрын
There's no minimum, the account won't be terminated, so no worries
@PptyS2092 жыл бұрын
How to use SRS account to buy singapore stocks?
@KelvinLearnsInvesting2 жыл бұрын
You need to use either dbs uob or ocbc to access srs
@Zhongxina1733 жыл бұрын
Hi Kelvin. Could you do a video on how to purchase ETFs via SCB? Something similar to the IB guide you did :)
@KelvinLearnsInvesting3 жыл бұрын
Give me some time to plan it out :)
@Zhongxina1733 жыл бұрын
@@KelvinLearnsInvesting Looking forward!
@lucasyee1233 жыл бұрын
I don’t have SRS
@KelvinLearnsInvesting3 жыл бұрын
Can use $1 to open :D
@spuncyco99142 жыл бұрын
LOL U CALLED IT, GOVT INCREASING TO 67yrs
@ron20403 жыл бұрын
No.. Srs not worth in the long run
@onglielie Жыл бұрын
So confusing...
@misslurmath3 жыл бұрын
Cant the withdrawal age be increased? Just like CPF used to be withdrawable at 55, now is 62.
@KelvinLearnsInvesting3 жыл бұрын
For srs, terms n conditions state that withdrawal age is fixed at account opening
@c-k46663 жыл бұрын
too many ads in your video
@pylpoh3 жыл бұрын
Steady pom pi pi
@larrymah88153 жыл бұрын
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 🙂
@KelvinLearnsInvesting3 жыл бұрын
Haha, yaa
@idunnoosola3 жыл бұрын
Hey Kevin, can I connect with you privately? Make friends make friends.
@KelvinLearnsInvesting3 жыл бұрын
Hi, come join the discord channel: discord.com/invite/Sj5HG6sedv
@ramalingamsangeetha99873 жыл бұрын
Thanks
@jkho83653 жыл бұрын
Imo srs is only worth if u are close to 62 years old haha