Personal Finance
CPF Milestone ($40k in Special Account) and The Power of Compound Interest
By KPO and CZM  •  September 16, 2017
Yay! KPO's CPF has hit a milestone, my SA (Special Account) has hit its first $40,000! If you are wondering, what is the big deal? It is just 4/5% of risk-free interest (for now) that can be compounded for many many years :) I have been transferring my OA to SA ever since I started working. The reason why I can do this is that I do not have any liability/mortgage to pay as of now. Going forward, I will stop transferring as I need to build up my OA for my house in 2019! Anyway, the interest rates for our CPF are as follows: These interest rates include an extra 1% interest paid on the first $60,000 of a member’s combined balances (with up to $20,000 from the OA). To be more specified, OA has 2.5% interest with an additional 1% on the first $20,000 (3.5%) and 4% for SA and ......
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By KPO and CZM
I am Ong and my fiancee (Chan Zui Mao a.k.a CMZ) calls me a Kiam Pok (i.e. stingy/thrifty depending on how you look at it). Hence, the nickname KPO (Kiam Pok Ong). We have decided to name the blog KPO because I have proposed to CMZ successfully and she is officially a KPO too. The purpose of the blog is to list down all the money-saving tips, our investment/journey to financial freedom and to document my life with CZM.
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