There are two points to note in this reply I made to a reader:
"Well, in your case, with $157K in the SA, at age 53, 10 years from now, even without another contribution, the money in the SA will grow to be at least $236K. I say "at least" because I have not taken into consideration the additional 1% interest for the first $40K.
"$236K in your SA at age 53 and without any risk. Sounds good? ;)
"... Yes, it is harder for older workers (to rejoin the workforce). This is also why I said during a discussion in FB that a bigger emergency fund is necessary as we grow older."
The two points are:
1. Help the government to help us meet the CPF minimum sum. Beef up our CPF-SA as soon as possible and let time and the government do the rest for us.
2. The size of our emergency funds ......