Personal Finance
Should you top up to CPF Enhanced Retirement Sum?
By Kelvin Learns Investing  โ€ข  February 24, 2024
๐Ÿ“ˆ With ERS now at 4 times the Basic Retirement Sum (BRS), you could potentially receive significantly higher monthly payouts from CPF LIFE. ๐Ÿ’ฐ Starting payouts at 65: ~$3,300/month ๐ŸŒŸ Delaying till 70: ~$4,400/month ๐Ÿ’ธ Crunching the numbers: $4,400 ร— 12 months รท ERS ($426,000 in 2025) compounded by 4% over 15 years โžก๏ธ A juicy yield of ~6.9% annually, ensuring steady income for life! โณ Considering Singaporeans' average life expectancy of ~83 years, that's a potential total payout of $686,400 during retirement! ๐ŸŽ‰ And remember, the longer you live, the more you profit. ๐Ÿ’ฅ โš ๏ธ Keep in mind, CPF payouts aren't guaranteed and can fluctuate based on interest and mortality rates. #CPF #RetirementPlanning #InvestmentTips...
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By Kelvin Learns Investing
Hey! Kelvin here! I talk about money related stuff like investing, credit cards, how to save money to retire early!
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