One of the famous concept today movement I heard past months is 1M65. And if we are to inject 65k into our baby account and let it compound for 65 years, the account will grow to 1M.
From Mr Loo,
“To make baby millionaires, you first need quite a sum of money: S$64,350 to be exact for each baby at birth, to be contributed into their CPF SA.”
For Cory that will be 130k. Ahem ! Even for a millionaire, to cough out this sum is not like a walk in the park. This sounds more like headline grabbing rather than practicality riches of wealth. After 65 years, $1M probably be good enough after inflation, if we still have the purchasing power to pay full for a 2 room BTO if such unit still exist.
I could also use that money to pay for the down payment for another investment