One of the many stuffs that Mr and Mrs Budget set out to do this year is to top up our Special Account via the Retirement Sum Topping Up Scheme.
With the receipts from the wedding angpaos recently, Mr Budget has used the receipts and went ahead to top up S$7,000 to his Special Account.
The reason why I do it earlier in the year is to allow the compounding effect to start earlier this year in order to enjoy the interest rate by end of 2020. Of course, we also stand to claim a personal tax relief of the amount contributed.
Mrs Budget will also be contributing to her CPF SA account in the next few weeks when we do our monthly finance reconciliation.
With the RSTU done, what’s left for Mr Budget this year is to:
Increase Singapore portfolio to S$110,000 from the current S$80,000 level.Reduction of