Every New Year, I have a routine that revolves around my Central Provident Fund (CPF), and it’s something I look forward to marking on my calendar. Let me walk you through the steps I take every year.
The first thing I do is dive into the CPF App on January 1st. With a few taps on my phone, I’m able to see the delightful interest credited to my CPF account. I must admit, this year, seeing a five-figure amount reflected—albeit on the lower end of the spectrum—certainly brought a smile to my face. It’s a satisfactory feeling to witness those numbers add up across my three accounts.
With the initial excitement out of the way, I move on to some planning for the future. I open the value warrior CPF calculator, which is my go-to tool for projecting the growth of my CPF funds. By inputting the numbers, I can predict what my savings will look like by the time I reach 65. Having that reassurance of a growing safety net is incredibly comforting as I plan for my retirement.
Another essential step in my routine is topping up my Special Account (SA). Not only does this step help boost my retirement savings, but it also offers a nice tax relief benefit. In the past, I made sure to top up this account before certain milestones…
