Personal Finance
I am on Retirement Sum Scheme (RSS) (4)
By Create Wealth Through Long-Term Investing and Short-Term Trading  •  December 26, 2019
Read? I am on Retirement Sum Scheme (RSS) (3) So based from CPF official reply ... We refer to your enquiry of 20 December 2019. We'd like to clarify that your payout will be calculated based on your current Retirement Account savings, to last you up to 20 years from your payout eligibility age (i.e. 65), with a base interest of 4% a year. The extra interest paid by the Government (up to 2% per year) on your Retirement Account savings will be used to extend your payouts beyond 20 years, capped at your age of 90. Members who are concerned about the risk of outliving their savings can consider joining CPF LIFE before age 80. This will eliminate longevity risk as they will receive CPF LIFE payouts for as long as they live. (1) your payout will be calculated based on your current Retirement Account savings, to last you up to 20 years from your payout...
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By Create Wealth Through Long-Term Investing and Short-Term Trading
I am 62 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016. Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 3nd year Uni in SUTD. I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild. I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038. Cheers!
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