Is it possible to have 300k CPF monies OA/SA?

[rofthelper]

It’s common knowledge that there is a salary ceiling of $4,500 for both employer and employee CPF contributions.

If you earn more than $4,500, you only need to contribute $900 (=20% x $4,500) to your CPF.

Even if you make $20k a month, you still contribute $900. Your employer contributes $652.50 (=14.5% x $4,500). The rates are lower if you are above 50 years old.

During a coffeeshop drinking with my peers, I heard some uncles proclaimed that they have few hundred ks inside their CPF account. One of them even said he got 300k?

I have personally knew that my uncle have withdrawn 160k in his CPF in the late 1980s, as I saw his cheque from CPF board.

Is it really possible to have 300k in his CPF, even though he has already paid up his HDB in full and has some portfolio inside his CPF investment?

I only got 15k in my OA & 22K in SA. while still servicing a 20 year HDB loan. (left 16 more years) Wonder when can I ever attain at least 100k inside. :(

 

[Ilovelamb]

I think is possible, I got a friend used his cpf money to invest in Genting in 2006. His average buy was $33cts per share with total of $55k of investment. Genting last done was $2.08, his return has far exceeded $300k now

 

[rofthelper]

I think is possible, I got a friend used his cpf money to invest in Genting in 2006. His average buy was $33cts per share with total of $55k of investment. Genting last done was $2.08, his return has far exceeded $300k now

Woah... that's abt 170k lots with 600% profit.

 

[popdod]

sho moral of the lessons...
Invest in stocks.

:o :( :o

 

[Ilovelamb]

sho moral of the lessons...
Invest in stocks.

:o :( :o

It can be a double edge sword, My uncle bought CREATIVE shares at $50 when it was listed in NASDAQ, now still holding the baby and don't think he can recoup his losses:o:o

 

[0939]

If you are still paying CPF money for your housing loan, very unlikely to have at least 100k in your account. The only way is to use your special account to invest on fund. Like my wife have invested about 35 K and now worth 90 over K in NTUC fund.

 

[popdod]

It can be a double edge sword, My uncle bought CREATIVE shares at $50 when it was listed in NASDAQ, now still holding the baby and don't think he can recoup his losses:o:o

Lessons Learnt:
Set a cut-loss limit.

:o :( :o

 

[cass888]

Yes. The old timers had no limits, then had higher limits which lowered to $4,500.

During a coffeeshop drinking with my peers, I heard some uncles proclaimed that they have few hundred ks inside their CPF account. One of them even said he got 300k?

I have personally knew that my uncle have withdrawn 160k in his CPF in the late 1980s, as I saw his cheque from CPF board.

Is it really possible to have 300k in his CPF, even though he has already paid up his HDB in full and has some portfolio inside his CPF investment?

I only got 15k in my OA & 22K in SA. while still servicing a 20 year HDB loan. (left 16 more years) Wonder when can I ever attain at least 100k inside. :(

 

[rofthelper]

If you are still paying CPF money for your housing loan, very unlikely to have at least 100k in your account. The only way is to use your special account to invest on fund. Like my wife have invested about 35 K and now worth 90 over K in NTUC fund.

I only got 22k in my SA. Don't think CPF allow me to invest?

 

[silverfox@]

During a coffeeshop drinking with my peers, I heard some uncles proclaimed that they have few hundred ks inside their CPF account. One of them even said he got 300k?

:(

Nowadays its tighter to use CPF monies to invest. There is a 30% limit I think. For employed ones, their OA a lot of money
For self-employed ones, their MA a lot of money. :(

 

[soIsee]

During a coffeeshop drinking with my peers, I heard some uncles proclaimed that they have few hundred ks inside their CPF account. One of them even said he got 300k?

I have personally knew that my uncle have withdrawn 160k in his CPF in the late 1980s, as I saw his cheque from CPF board.

Is it really possible to have 300k in his CPF, even though he has already paid up his HDB in full and has some portfolio inside his CPF investment?

I only got 15k in my OA & 22K in SA. while still servicing a 20 year HDB loan. (left 16 more years) Wonder when can I ever attain at least 100k inside. :(

Most of those ppl I know, who is working for others, have more then $600K easily in their OA alone and they are still working and have fully paid up for their properties.

See, you have been mixing with the wrong type of ppl all your life and can't even wake up your fucking idea that this was so.

You are having frds found in forums similiar to this and it is time you stay away from the computer and get on with your life in the real world!

 

[cass888]

Most of those ppl I know, who is working for others, have more then $600K easily in their OA alone and they are still working and have fully paid up for their properties.

See, you have been mixing with the wrong type of ppl all your life and can't even wake up your fucking idea that this was so.

You are having frds found in forums similiar to this and it is time you stay away from the computer and get on with your life in the real world!

Actually, you're wrong. From what this guy says, I can basically predict his age. He's probably been in the workforce for only about 12 years or less - when the CPF caps kicked in. Right now you can only get $1,600 a month into your CPF, so $600k is going to take more than 20 years to accumulate.

 

[johnny333]

sho moral of the lessons...
Invest in stocks.

:o :( :o

Unfortunately you are only allowed to invest in "gov't approved companies" which inevitably turn out to be poor performers :(

I invested in unit trusts & they are all making a loss.

I should have invested in gold but back then gold was a poor perfomer.

 

[0939]

I only got 22k in my SA. Don't think CPF allow me to invest?

Why not, go and see an insurance agent?

 

[rofthelper]

Most of those ppl I know, who is working for others, have more then $600K easily in their OA alone and they are still working and have fully paid up for their properties.

See, you have been mixing with the wrong type of ppl all your life and can't even wake up your fucking idea that this was so.

You are having frds found in forums similiar to this and it is time you stay away from the computer and get on with your life in the real world!

Those ppl you know, is in which age group? Must give example what.

See.... you are wrong also. Mixing with the wrong type of ppl might not have hugh CPF monies in your CPF, but you could be cash-rich. Got what I mean?

Nowadays computer is related in everyday's life lah, bro. So what talking you?

 

[rofthelper]

Why not, go and see an insurance agent?

Thanks.

Actually, you're wrong. From what this guy says, I can basically predict his age. He's probably been in the workforce for only about 12 years or less - when the CPF caps kicked in. Right now you can only get $1,600 a month into your CPF, so $600k is going to take more than 20 years to accumulate.

Bro cass888 to be exact, is 10 years.

So to conclude, investing in CPFIS is the only solution?