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Route to Passive Income

It is never too early to plan for retirement
4th installment (another S$12,750) in my SRS Account

4th installment (another S$12,750) in my SRS Account

3 Comments , Edit


Towards the end of 2015, I considered hard if I should park my money into the SRS account. It is always painful to part with S$12,750. We are talking about not being able to see my money (another S$12,750) for the next 30 years.

I started this journey 4 years ago and the idea was to complement my CPF savings for retirement. And, of course, enjoying the tax deferment on my SRS contribution each year. Plus, force myself to purchase an investment instrument for the long term.

Rome wasn't built in a day, but they were laying bricks every hour.

 With each passing year (not exactly every hour), adding S$12,750, I am beginning to see a separate sizable retirement fund - 4 x S$12,750 = S$51,000.

I just have to keep this momentum moving year after year for another 16 installments.

Read: Topping up SRS Account for the 3rd Consecutive Year

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3 comments:

  1. starlight24 January 2016 at 11:01

    Hi
    I have contributed to SRS for about 10 years. Even if the money is idling in the a/c and being eroded by inflation, I know I have min 100k set aside for retirement.

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    1. Unknown24 January 2016 at 11:14

      Hi Starlight, thanks for that encouragement. It seems painful now but i think it is worth it. Forced savings :)

      And just like what you said, even with inflation, i think all will agree they rather do it for ten years than not having anything now.

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