Personal Finance
Why I do not want my CPF SA to attain FRS now?
By Live Rich Life Free  •  January 5, 2022
Having received $14k of interests from my CPF savings for 2021, I am getting greedy. I ponder whether to earn more interests by transferring funds from CPF Ordinary Account (OA) to Special Account (SA). The Full Retirement Sum (FRS) is $192,000 for members who turn age 55 in year 2022. My current Special Account balance is $178,795.29. I have sufficient funds in my OA to transfer $13,204.71 to SA for attainment of FRS instantly. However, I decided not to attain FRS this year for 2 reasons.
  1. Personal loan from my own OA account for property purchase
As I have already made a down-payment for a HDB BTO flat, there is an outstanding amount of more than $300k to be settled with either a bank loan or HDB loan in 5 years time. Having no intention to cash out on my investments in stocks, Reits and savings...
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By Live Rich Life Free
The purpose of this blog is for me to share my reinventions of how life should be lived and journal my journey towards financial independence. I believe that life is a story book. Each chapter contains 10 years of our lives. I am moving on towards mid 30s in 2021. As a nobody but somebody, I am in Chapter 4 of my story book. I hope to influence my philosophy of living a rich life freely and healthily with all of you. Embrace the future and empower freedom!

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One response to “Why I do not want my CPF SA to attain FRS now?”

  1. Raja says:

    Good choice. Hope you achieve your dreams. One should plan forward. Well hope i had done that myself. Never too late.

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