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How Mr CPF grew he and his wife’s CPF to over $1.8m
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Mr Loo Cheng Chuan, or better known as Mr CPF shared how he had accumulated over $1.8m for his and his wife’s CPF combined.
Tip 1
In his late 20s, he & his wife top up their respective medisave and special accounts very quickly. Transfering his CPF from ordinary account to special account so that his CPF can grow faster.
They didn’t choose to live in condo or landed.
All they need to do after that is wait, allowing the compounding to happen.
Tip 2
Mr Loo worked in 2 or 3 jobs, so he could top up his CPF quickly, each job allows him to top up a maximum of
$37,740 into his CPF account, so when he works in 3 jobs, he could top up a maximum of $113,220 into his CPF account.
Tip 3
When stock market crashes, he used his Ordinary account to buy into S&P500
S&P500 has an average annual growth rate 8-12% p.a. over a period of 100 years.
Mr Loo has $1.1m in S&P500, so at age 65, which is 14 more years to go, he will have $3.59 to $4.59m in funds when he retires.
You can see in this his calculation how the compounding happens.
He also said one can automatically buy into S&P500 using dollar cost averaging. Discipline is key.
Tip 4
After buying into S&P500, ignore the ups and downs. When market goes up, don’t sell as well. You need to stay in the market to let the compounding works its magic.
Tip 5
Do not rock your CPF if you decided on this path. The power is in the compounding.
Tip 6
Don’t touch your medisave. If you can, use cash. Because the interest rate is at 4%. So it can compound to a large amount when you absolutely need it.
Tip 7
Buy T bills now when it’s around 4%. We won’t have this opportunity all the time as US Federal Reserve will reduce the interest rate. Using your ordinary account to accumulate your retirement funds.
The full video can be found on YouTube, look for 1M65.
You can join Mr Loo’s telegram group by searching for Loo 1M65 in Telegram. The community can answer any questions you have about 1M65.
#cpftips #retirementplanning #cpflife
Tip 1
In his late 20s, he & his wife top up their respective medisave and special accounts very quickly. Transfering his CPF from ordinary account to special account so that his CPF can grow faster.
They didn’t choose to live in condo or landed.
All they need to do after that is wait, allowing the compounding to happen.
Tip 2
Mr Loo worked in 2 or 3 jobs, so he could top up his CPF quickly, each job allows him to top up a maximum of
$37,740 into his CPF account, so when he works in 3 jobs, he could top up a maximum of $113,220 into his CPF account.
Tip 3
When stock market crashes, he used his Ordinary account to buy into S&P500
S&P500 has an average annual growth rate 8-12% p.a. over a period of 100 years.
Mr Loo has $1.1m in S&P500, so at age 65, which is 14 more years to go, he will have $3.59 to $4.59m in funds when he retires.
You can see in this his calculation how the compounding happens.
He also said one can automatically buy into S&P500 using dollar cost averaging. Discipline is key.
Tip 4
After buying into S&P500, ignore the ups and downs. When market goes up, don’t sell as well. You need to stay in the market to let the compounding works its magic.
Tip 5
Do not rock your CPF if you decided on this path. The power is in the compounding.
Tip 6
Don’t touch your medisave. If you can, use cash. Because the interest rate is at 4%. So it can compound to a large amount when you absolutely need it.
Tip 7
Buy T bills now when it’s around 4%. We won’t have this opportunity all the time as US Federal Reserve will reduce the interest rate. Using your ordinary account to accumulate your retirement funds.
The full video can be found on YouTube, look for 1M65.
You can join Mr Loo’s telegram group by searching for Loo 1M65 in Telegram. The community can answer any questions you have about 1M65.
#cpftips #retirementplanning #cpflife
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