I am starting the year with moves to improve financial security for me and my dad.

I am making a voluntary contribution to my CPF account again this year. The idea is to max out the annual limit of $30,600 and let the magic of compound interest contribute to my retirement funds. Yes, the government will be helping me in my efforts. Although this will not be tax deductible, it will help to provide me with a peace of mind.

I have also decided to do quarterly voluntary contributions to my dad’s Medisave Account from now on. As he has pre-existing medical conditions, he was unable to upgrade his Medishield plan. Thus, his share of medical bills are heftier.

My dad’s Medisave Account is also depleted due to the many times my paternal grandmother was hospitalised in recent years. So, helping him to build up his Medisave Account seems like a …