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Making More Millionaires. Discord: bit.ly/1M65Discord Disclaimer: loo.money/disclaimer
Think it well and decide the ideal optional. As home is shelter for you and your loved ones which you will be paying in at least 6 figures and staying for years.
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You can always do voluntary housing refund back to oa for amount used for housing next time and then transfer oa to sa if your sa is below frs
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True, agreed.
Fully paid as you are debt free and you just need to pay for monthly utilities and bills. No worries about the housing loan.
With a fully paid owned HDB flat, you have no worries with peace of mind. No one can seize your HDB flat even if you owe creditors or govt $$ or someone bankrupted you.
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https://www.cpf.gov.sg/member/infohub/educational-resources/selling-your-flat-age-55-cpf-refund
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The risk reward is totally skewed. Ransom Sgd1 million vs 7 years jail, its almost $150k per year.. 3x is RM500k.
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kidnapping only 7 years jail in msia .. spore is death sentence
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I think it is wrong to say a single needs to pay an extra $15k. Being single, you only get the grant for 1 person as compared to married couples who are entitled to get the grant 2 persons.
Eg if you work for 6 months in a company, do you expect your boss to pay you the same bonus as your colleagues who work the whole year ?
gotta get prepared for the air quality tho... very near industrial sites and aye.
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After so many suggestions to you, hope to hear on your final take too 😊
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2 room flexi jurong
38 sqm from $109 k
Your budget still can buy, and first timer application rate now 0.6.
100% can get
The 15k is only if you do it yourself.
If you can get someone to cohabitate with you, you can waive the fee.
Option 3 : Pay off the flat using your own cash and dont touch CPF. At 42, better to start building your nest egg for your retirement.
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Meaning they had to pay cash back to CPF ? like 70k ... ??
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You still have to.
Accrued interests is only a number for those after 55 because you can withdraw from OA after the amount is refunded
Wow, I'm a conservative guy and because I actually loss money , unfortunately twice in ponzi scheme related thing, I think I am not that kind of person that will do investment, let alone investment that could win OA 2.5%
I was thinking option 2, putting 5k a year in the OA account , or SA account but the key is consistency but also worry the accud interest in OA
Sound like option 1 more to my preference
Not really true
https://www.cpf.gov.sg/member/infohub/educational-resources/sales-proceeds-after-selling-your-home
Because, I have a few colleagues and friends whom paid off their loan upon key collection. But then, they decided to move to another unit. Their principal and interest took up mostly of their selling price.
There's even a friend's case such (example),
Sold price: $480000
Both owners (principal plus interest): $550000 (over a 30 years of stay)
Hi Guru, if one had reach CPF SA FRS. Is it true that we do not need to repay the accured interest in OA fund use after selling of an HDB Flat or EC?
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Maybe one more consideration
If take loan with hdb, anything happen like unable to repay, still have room to negotiate.
With banks, they will likely take back and auction.
When deciding between the two options, consider the following:
HDB Loan with OA Savings: Taking an HDB loan allows your OA balance to continue earning interest. If you maintain your OA, the interest can compound over time, potentially increasing your overall savings. This might be a safer route, as you’re still building up your retirement savings without tying up all your funds in the flat.
Using OA to Fully Pay for BTO: Paying off your BTO with your OA funds means you won’t have monthly mortgage payments, which can free up cash for investments. However, this means losing the potential interest from the OA and relying on your yearly investments to grow your capital.
Analysis:
Option 1 (HDB Loan): Your OA balance of $160k will earn about 2.5% per year. This could result in significant growth by the time you reach 65, especially with compound interest.
Option 2 (Fully Paying BTO): Investing $5k annually could yield returns depending on your investment strategy. If you average a return of 5-7%, it could also accumulate a good amount by 65, but you’re starting with less capital upfront.
Conclusion:
If you prefer a more secure, interest-earning strategy, Option 1 might be better. If you’re comfortable with investment risks and seek potentially higher returns, Option 2 could work, provided you stick to consistent investments. Assess your risk tolerance and financial goals before deciding.
Hi, is there a recommended platform to trade the bursa?
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Up to them to decide how they want to work it out. It's that or pay the 15k.
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Two unrelated persons cohabiting in a flat with a single room. Will be tough.
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It a 2 room flex for single ... originally budget for 120k but price continue to raise every year and u guys know that single need to pay extra 15k ? If u are married then it will be return back i think ... being single is a sin in singapore
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CPF scheme that alloes you to refund your OA with cash if you ever used OA for housing. You can look up here:
https://www.cpf.gov.sg/member/growing-your-savings/saving-more-with-cpf/make-a-voluntary-housing-refund
Correct. Same here. Lol stress like shit to chase with time.. bery stress. Took me 6years to get rid of the HDB loan
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