DollarsAndSense Tonight | Ep2: How An Average Singaporean Can Make $1 Million By Age 65 Using CPF
The Central Provident Fund (CPF) is a mainstay in the lives of every Singaporean – in return for forced savings, the government guarantees risk-free interest on CPF monies, which can be used for education, housing, preparation for retirement and to pay for medical costs.
Going a step further with the introduction of the Baby Bonus Scheme, every Singaporean child now has a CPF account even before they learn to speak. This is due to the government’s initial deposit of $4,000 into their Medisave account.
Even so, one would wonder if its really possible to accumulate a million dollars by the time Singaporeans retire at the age of 65.
So, what is 1M65?
In the second episode of our talkshow, DollarsAndSense Tonight, we hear from Loo, also known as the "CPF Millionaire" on how to make a million dollars by age 65 just by using CPF.
Let us know what you think of this episode and what topics you'd like to see covered in future shows!
Read more: http://dollarsandsense.sg/financial-p...
For more CPF-related articles, check out:
http://dollarsandsense.sg/financial-p...
http://dollarsandsense.sg/saving-futu...
http://dollarsandsense.sg/standard-ba...
Follow us on Facebook: / dollarsandsensesg
Follow us on Instagram: / dnssingapore