Many young Singapore residents are worried about their future. They believe they do not have enough savings both on hand and in their Central Provident Fund (CPF) accounts even as the country’s cost of living keeps going up. But did you know that among the nearly 400,000 CPF members that had at least S$500,000 in their accounts, around 8,500 of them were aged 40 and below? While it may not seem like a huge pool of people, it proves that it is possible to pocket half a million by 40. Here’s a few tips on how you can become one of them. 1.   Transfer funds from Ordinary Account to Special Account While your Ordinary Account (OA) only pays an annual interest of 2.5%, the Special Account (SA) offers 4%. The extra 1.5% makes a huge difference as interest compounds over time. Here’s an example of what your savings will look like after 30 years in either the OA or the SA:...