Personal Finance
Do You Get All Your Money From Your HDB Sales Proceeds For Your Retirement?
By Seedly  •  January 27, 2019
Planning To Sell Your Flat As Your Retirement Plan?

Common conversations heard over dinner,

“When you all grow up and all married liao, I will downgrade my house for my retirement.”

Honestly, I really thought it was a feasible retirement plan. It doesn’t sound all too bad when I first heard it back when I was young, in fact, it sounds like a terrific retirement plan! I believe this was what most of our parents had planned to do.

But, is it really as simple it seems? Like this equation below?

A Myth:
3-Step Process to Get Money (in Cash) for My Retirement 1 Sales Proceed from my current house 2 Minus: Cost of New House (A Downgrade) 3 Equals: My Retirement Savings (In Cash) Yes, if you paid for your house using cash. No, if you have used your CPF, HDB or bank loan to finance your home....
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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