image1 image2 image3

Route to Passive Income

It is never too early to plan for retirement
Topping up SRS Account for the 3rd Consecutive Year

Topping up SRS Account for the 3rd Consecutive Year

4 Comments , Edit

I started my Supplementary Retirement Scheme (SRS) account three years ago. The plan was to top up the SRS account every single year for the next 20 years. I figured that if I do it every year, I would have a sizable sum of money for retirement. Plus the fact that I do save on my taxes yearly. However, the downside will be putting my money into an account that I do not have much flexibility.

Anyway, let's do some Maths.


So at the end of 20 years, I will have a sizable savings of S$255,000. This does not include the interest given or if you have diligently invested using your SRS account.

Do consider opening a SRS account as part of your retirement planning.

SRS + CPF adds to your comfortable retirement accocunt.

I will explain the SRS account in more details and how I invest the money from the SRS account in a separate post.

Share this:

CONVERSATION

4 comments:

  1. foolish chameleon25 January 2016 at 13:01

    hi,
    so how did you invest your SRS monies? is there link for the separate post?

    i am alr vested in divd yielding reits for my srs.. but want to get more ideas.

    thanks

    ReplyDelete
    Replies
    1. Unknown30 January 2016 at 00:23

      Hi Fooztreasures, I use the OCBC BCIP to buy STI ETF monthly. SRS is used purely to invest in the STI ETF.

      Delete
    2. foolish chameleon1 February 2016 at 11:14

      i see. thanks.

      does OCBC allows you to RSP using the SRS acct?
      coz i think POSB does not.

      Delete
    3. Unknown5 February 2016 at 08:32

      Yes. OCBC does allow SRS

      Delete

Subscribe to: Post Comments ( Atom )