Tuesday 11 August 2020

CPF Top Up Aug 2020

After paying the credit card bills of last month, there were some cash surplus so I decided to put $800 into the family's CPF accounts. This is something that I started this year to realize the power of compounding. Also, it's the wife's birthday so this serves as an invisible gift to her. Hopefully, by the time she can start withdrawal, the amount would be something decent. At the moment, I have no particular target to achieve. As an example from an actual CPF statement I saw, at age 65, a person with $102000 can expect to withdraw $662 for the rest of life. My opinion is this amount is too little for our lifestyle which means I have to save harder.

Tip: Iced Kopi

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