Should I transfer money from OA to SA account?

transfer-OA-to-SA.jpg

One of the key aspect to achieving early Financial Independence is to optimise the returns of your wealth. However, many people focuses primarily on building up their cash bags and neglect the other bulk of their savings, the CPF. Although our CPF savings cannot be withdrawn before the age of 55, it is important to start acting early, to take advantage of the risk-free interest rate on our CPF … [Read more...]

Are you neglecting your wealth: you have more CPF savings than you think

employment-income-breakdown.JPG

Let me start this post by the following statement: At least 31% of your wealth are in CPF Rub your eyes, stare at the statement again. <No, this is not a typo>¬†If your only source of income is your full-time employment, then a whooping 31% of your income goes to CPF, and the remaining 69% are the cold hard cash you receive as monthly take-home pay. Are you kidding me? 31%? For … [Read more...]

1 year closer to financial independence – great 2016, awesome 2017?

2016 will be a critical year in my life as I began to take a more active approach to achieving my financial goals. Let's evaluate how I fare and set new goals for 2017. Income - Evaluating my source of money Total income (after CPF deduction) for 2016 is broken down into 4 main categories: Salary - 67.4% Bonus - 30.5% Benefits - 0.9% Others - 1.1% Benefits¬†are subsidies which I … [Read more...]