what do u think of the reduction in EPF contribution as announced recently? Should an average Joe like me who earns less than 5k a month leave my EPF untouched and let it compound over time?
KCLau
· 1 year ago
For those whose income Is less than 5k a month, the reduction of epf contribution might cause higher income being tax.
Anyway, 3% is really not much to spend. It is advisable to keep it in Epf. But the government is making our life harder because you'll have to fill up a form to remain at 11%.
This is a nice post. I was just starting to work in Singapore about 5 months ago. I was amaze at the ability of this guy to save $300k at the age of 30. I am in my 24, guess I will have to work smarter and invest wiser.
Sharon
· 1 year ago
I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.
I have been working in SG for past 19 years in Accounts line. Based on my past investment experince, I think a) House investment in HDB is much better than buying in house in Malaysia hometown due to you can save immediate monthly rental, HDB appreciate fast than MYR house. b) retirement planning Don't invest too much in Unit Trust/Property, pls buy MYR land as land supply is limited, thus, it only goes up in the long run. Today, many world-wide retirees are trapped in 401(K) plan,CPF/EPF, their shares value drop by as much as 50%.
Lastly, always think of opportunity cost and FX (Forex) before making any long term investment. SGD constantly appreciate against MYR over time (eg. 10 years time frame).
KCLau
· 1 year ago
Thanks Hubert for your sharing. I couldn't agree more with the idea to get a HDB as soon as possible.
All Comments
Should an average Joe like me who earns less than 5k a month leave my EPF untouched and let it compound over time?
contribution might cause higher income being tax.
Anyway, 3% is really not much to spend. It is advisable to keep it in
Epf. But the government is making our life harder because you'll have
to fill up a form to remain at 11%.
Http://Kclau.com
Sharon
http://www.autoloans101.info
Based on my past investment experince, I think
a) House
investment in HDB is much better than buying in house in Malaysia hometown due to you can save immediate monthly rental, HDB appreciate fast than MYR house.
b) retirement planning
Don't invest too much in Unit Trust/Property, pls buy MYR land as land supply is limited, thus, it only goes up in the long run.
Today, many world-wide retirees are trapped in 401(K) plan,CPF/EPF, their shares value drop by as much as 50%.
Lastly, always think of opportunity cost and FX (Forex) before making any long term investment. SGD constantly appreciate against MYR over time (eg. 10 years time frame).
HDB as soon as possible.