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How to save $1000 in 3 simple steps
When I first started working around 20 years ago (yes, I am that old) fresh out of polytechnic, I had zero savings. My first job made $1,200 a month. 2 years in, I still don’t have $1000 in savings in my bank account. I was a spendthrift back then. I was buying new gadgets almost…
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Investing With CPF Monies
Can I use CPF for investment? You can use your CPF savings that are in the OA and SA for investing under the CPF Investment Scheme(CPFIS). To do that, you will need to open a CPF Investment Account with either UOB, DBS or OCBC bank. Any one of these banks will do, there is no…
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Is CPF FRS in 3 years possible?
What is Retirement Sum? When you reach 55, the monies in your CPF Special Account (SA) and Ordinary Account (OA) will be transferred to a Retirement Account (RA), up to the Full Retirement Sum (FRS). You can then choose to withdraw the excess amount. Or just continue to set it aside for a larger retirement…
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One off payment on HDB loan…
We received a letter from HDB last nov or dec, suggesting to us to make a one off payment of $5000 to our HDB loan. By doing so, we will save $3000+ in interest! It blew my mind when i saw that. Pay $5000, n you save $3000. These are the type of big ticket…
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Automating your savings and investments
I have a OCBC 360 account. The initial reason why i opened the 360 account was because of the higher interest rate it gives, but with the recent changes, i believe there are better rates else where. Another reason why i’m using the 360 is the ability to create sub-accounts within your main account. You…