Ferrari Me (Ferrarilim)

  Mindset of a retiree Happened to be at Vivo City Audi Roadshow yesterday; saw this middle-range A6 price at $289k. Wonder if you are a retiree: * 1. Die-with-zero with no kids. * 2. YOLO with kids. * 3. I am there, matter of fact. * 4. I am not there * 5. Me no licence * 6. Too old to drive already * 7. Keeping up with my neighbours * 8. I don't need a car * 9. Me ? any practical reliable car * 10. I am chauffeurred * 11. Me? Grab-hirer .  Oops. * 12. Me? Poor health to drive. Which would you identify to be ?

Interest earned from Medisave account Medisave BHS @2024 = $71,500 assume @4% p.a. interest = $71,500 × 0.04 = $2,860 p.a. earned Premiums deducted from my Medisave: *1:My Enhanced Incomeshield+ As-Charged rider premium is already S$5.6k for next year. Cash premium = $4,046 p.a. * * Medisave deducted = $1,639 p. a. *2: Medishieldlife for my next year @age 61~65 premium = $1,131 p.a. (= 1131/2860 × 100% = 40% deducted) * 3: CareShieldLife premium of $898 p.a. (for 10 years period) Total premium deduction from my Medisave = $1,639 + $1,131 + $898 = $3,668 p.a. (expenses) ~~~ Takeaway #1: Net interest earned = $2,860 - $3,668 = -$808 p.a. In summary, my MA balance was reduced by $808 p.a. ~~~ Takeaway #2: Instead of feeling sad, I am cautiously glad that I topup with cash $3,668 p.a. to max BHS again. This topup reduces my personal earned income tax. Takeaway #3: Don't ever think that annual interest earned from MA can overflow into your OA for OA Withdrawal. Unknowingly, you actua...

  Sharing: Would you invest in CPF OA for mere 2.5%? 1. From next year 2025 , those aged 55 yo or above will have their SA account closed and their SA balance will be transferred to OA. 2. By age 55, unless you hack your SA previously to use your OA or Cash to meet the FRS limit for RA account, your SA balance (after zooped to form RA account upon aged 55), maybe left with $100k+- nett). 3. Of course, there will be peoples who are unable or not choose to even meet RA FRS limit. 4.  For me, this SA account closing is a good news for the "good mental": * It stops SA hacking. * It makes CPF OA/SA withdrawal easier .  No need to be bothered with order of withdrawal amount in order that the CPF SA balances are not reduced. * It makes using OA investment easier .  Any dividend or OA interest made can be withdrawn as retirement passive income tap. * It succumbs many to withdraw their OA balance to buy: ** Insurance annuity that: - offers "capital guarantee upon death"...