10 THINGS ABOUT CPF THAT YOU MAY NOT KNOW! 🤭 | Financial Planning| Retirement

CPF is a foundation to your wealth if you are a Singaporean or PR.
This video, we'd cover some CPF rules that involve
CPF for your house
CPF for your retirement

*******
Chapter for todays video 10 things about CPF that you may not know!

0:00 CPF as a foundation of your wealth
0:30 You can choose to keep $20k in your cpfoa when taking HDB loan
1:19 You need to do CPF self awareness questionnaire if you are new to CPF investing
2:00 You cannot use CPFOA to buy overseas share
3:04 Investing CPFSA is usually not a good idea. You'd see which funds beat CPFSA.
4:14 You have to withdraw from CPFSA first for amounts above FRS
4:59 Top up medisave at start of every years as BHS increases
5:38 Research your CPFOA for mortgage after age55
6:38 No need to repay CPF if house sold at loss
7:30 Property refund method to put cash into CPFOA
Bonus 10th point...

Recommended videos for CPFSA shielding

🤝 Join our mission "Let's Make A Difference" 🤝

JOIN - To get access to private videos
This week on members only:

Last week on members only:
STILL BUYING MORE TECH? I DON"T THINK IT IS THE BEST IDEA....

*******
Recommended videos:
THIS FUND CAN BE BOUGHT USING CPFOA & 😮 Beat S&P 500!!! United Global Quality Growth Fund

Sources:

We do not make any recommendations on whether a security is a buy/sell as every investor has different investment goals and risk profiles. The presentation of ideas from Josh Tan and TheAstuteParent are strictly for education purposes. You are advised to perform independent research yourself or seek a qualified financial adviser. We will not be liable for any losses directly or indirectly from the material. Some of the referral links in the video summary are products and services personally used by Josh Tan and they may pay an affiliate commission or referral bonus. It is not an endorsement of the product unless explicitly stated and we will not be liable for any losses. The content in this video and any promotions mentioned is accurate as of the posting date.

*******
____________________________________________________________________________________________
About Josh:
Josh holds a degree in Accounting from NTU.

In 2016, he co-founded the financial education website TheAstuteParent to provide detailed insurance plan analysis and financial planning tips to help you kickstart your journey towards financial freedom.

As a ChFC Charterholder, Josh has agreed to be bounded by the ChFC®/S Code of Ethics. This includes, among others, acting in a professional manner when it comes to conducting due diligence on primary and secondary sources of investment-related data, and articulating his investment opinions based on his research and beliefs. Based on his research and analysis, he highlighted his beliefs and opinions, and illustrated the concept of time value of money, as of the time of the video.

[HoneyMoneySG]

Josh, great tips and good value to help people know more about CPF! Which I think more people need to understand and not be misled by misinformation as well.

[yeosld]

Very informative video. I like watching your videos and advice on equities and such.

Just a comment on point 6 is that employees who receive the maximum limit from than the mandatory employee contribution sum will not be able to contribute voluntarily to the medisave account and the monies put in will be refunded.

$165 was deducted from my MA account for careshield and I decided to top up $165 to fill the deficit. I was informed by cpf board in late January that I had maxed out my voluntary contributions because my employer had contributed more than the maximum amount for the mandatory employee contribution. So my $165 was refunded to me with another $165 deficit in my medisave. Before the end of last year, I had considered point 6 but after the incident, I had to rethink putting money into my special account. So, I am only considering RSTU and cpf housing refund for now

[damyeuful]

Another hack- just before turning 55, I used all I could from SA, leaving compulsory 40k? and used to buy a fund allowed by CPFIS. This was so that the OA money was taken out and transferred automatically to the Retirement Acct rather than from the SA. After turning 55, I sold the fund and the money was sent back to SA where interest is higher than OA.

[huansolo]

Hi Josh, I'd wish to hear your view about investment-linked plans in the past and what's available now. Separately, what do you think about robo-investing? better than leaving to financial planners?

[marcustan]

Hey great video. Dont mind a noobie here. Can you explain further regards to the topping up of medisave at the start of the year and that more will flow into the SA portion? Thanks!

[lastlightsnet]

Thank you for the video! I was searching about info on voluntary housing refund. I have zero intention to sell my HDB flat, but it's a good way to earn 2.5% risk-free, compared to just keeping my cash in a saving account.

[johntan]

1. First 20k has 3.5% sound good. But some investor trainer ask us to invest in local etf or local company.

[omegaopy]

Hi Josh, thanks for the informative videos. For the housing refund to cpf OA, can we continue to contribute even after 55 or only until 55?

[JJ-iusr]

Learnt new things again from you...thanks!

[anamariedevera]

Hello Josh, can you make a review about the Jardines C & C, JMH and JSH. Just curious if they are worth to invest to since they are like the highest in dividends blue chips

[ginal]

Hi Josh after selling my current flat I would return almost 200k to my OA. Would you recommend using OA for my next property or 100% cash to avoid the accured interest? I did think to keep more cash to invest into other financial products for higher returns eg reits.

[verdantgreen]

CPF pays interest at the end of Dec. I wish to withdraw the annual interest earned from my OA. Is it advisable to withdraw in Jan 23 for accrued interest for the year 2022 so as to keep the principal amount intact?Thanks

[ackc]

Great video. Btw do you have video on how to reduce Income Tax too? 😀

[billtay]

For property refund to CPF, once the refunded amount is withdrawn for an emergency, it cannot be returned to CPF again (assuming the emergency has been settled) as property refund. Is this correct?

[FlarksXD]

Hi Josh able to answer my queries please? For example i have 200k in OA and SA combined. I pledge my property after turning 55 example 90k Basic Retirememt Sum (BRS). Meaning my OA SA will have left 200k-92k=118k withdrawable sum. Though will have less monthly payouts after 65, can safe to say that we would have more liquidity in having the ability to draw out more funds from 55 years old ya? Money above the BRS will still enjoy its % in OA and SA accounts respectively?

[Kelberi]

So using SA to buy bonds before 55 is still valid?

[jamesmadison]

Hi Josh, can I check with you. For the cpf housing refund to OA, I will be using cash to refund monies for my hdb loan back to my cpf OA. Question is, after I do that, can I transfer that money in OA to SA?

[lynnc]

does the excess amount above the reitirement sum continue to earn interest after 55? i.e. can we leave the money in cpf to continue earning interest after 55?

[KenliaAdventures]

Hi Josh, wish to check after age 55, and if SA becomes 0 after all went to RA account, able to top up to OA and/ or SA and withdraw anytime?

[damyeuful]

Also before turning 55, I returned all my OA money used for our property