October 12, 2021
How to Retire with MORE CASH in the bank
How to Retire with MORE CASH in the bank – Even after paying off your huge outstanding loan.
To explain, let break down a real-life example;
Here we have a couple, Husband is 53 and Wife is 49.
This is an example of their CPF
They have two options here;
Option A – Retire with $122,000 or Option B – Retire with $239,000
Option A
-
Pay off using the full amount from both’s Ordinary Account
-
Husband continue paying the mortgage and finishes paying at 59
The logic of option A:
At 55, Husband gets to withdraw an estimated amount of
$122,000 and at 59, also able to withdraw the balance from OA after finishing paying the Outstanding Loan.
Option B
Sell the current property and buy a 5 room or 4 room. Paid full using all of wife’s CPF and topped-up with Husband’s CPF.
The logic of option B:
At 55, and no outstanding mortgage, the Husband is able to withdraw an estimated amount of $239,000 cash and withdraw from his OA at any time and amount.
Do you need help calculating your withdrawal amount?
Drop me a message at +65 9422 8000 or Wa.me/6594228000 for enquiries or real estate matters.
Or visit https://www.instagram.com/p/CPr1Z4zH8yB/?utm_source=ig_web_copy_link for a quick version.
