SRS - what to invest in?

[Angcheek]

 

It is almost that time of the year .......... Any one care to share what you invested from SRS ?  

Anyone tried the Digi portfolio from DBS SRS ? 

😄

 

 

 

 

[Throttle2]

On 12/26/2020 at 4:28 PM, Angcheek said:

 

It is almost that time of the year .......... Any one care to share what you invested from SRS ?  

Anyone tried the Digi portfolio from DBS SRS ? 

😄

 

 

 

 

You share lor

[BanCoe]

On 12/26/2020 at 4:28 PM, Angcheek said:

 

It is almost that time of the year .......... Any one care to share what you invested from SRS ?  

Anyone tried the Digi portfolio from DBS SRS ? 

😄

 

 

 

 

Nothing much . Unless U are Equity smart ..... heard Manulife has 5 years 1.4% if you’re very conservative ...... rates are very dry 

[Ct3833]

For those who have not started your SRS or  have not had enough understanding about SES. 

 

https://www.income.com.sg/blog/srs-and-retirement-planning?utm_source=yahoo&utm_medium=prospecting&utm_campaign=content_SRS&retirement

[JenniferWilliams]

You can invest your SRS funds in a variety of financial instruments to help increase your retirement savings. Local stocks, REITs, ETFs, bonds, fixed deposits, single-premium insurance policies, and unit trusts are examples of these. Before withdrawal, any gains from investments made by SRS funds are tax-free.

[Voodooman]

8 minutes ago, JenniferWilliams said:

You can invest your SRS funds in a variety of financial instruments to help increase your retirement savings. Local stocks, REITs, ETFs, bonds, fixed deposits, single-premium insurance policies, and unit trusts are examples of these. Before withdrawal, any gains from investments made by SRS funds are tax-free.

We don't have capital gain tax. 

 

[Throttle2]

I’d rather they pay me 2.5% on my money inside CPF than to risk it in any investment.  CPF is a net which may save you from unknowns in your old age , why weaken your net with uncertainty

Investments are made with my money outside cpf. 

Edited March 26, 2021 by Throttle2

[Voodooman]

1 hour ago, Throttle2 said:

I’d rather they pay me 2.5% on my money inside CPF than to risk it in any investment.  CPF is a net which may save you from unknowns in your old age , why weaken your net with uncertainty

Investments are made with my money outside cpf. 

SRS pays peanuts if not invested. Not   CPF hor.  Almost every cent in my SRS are in long term equities, i didn't even bother with bond funds.

[Enye]

2 hours ago, Throttle2 said:

I’d rather they pay me 2.5% on my money inside CPF than to risk it in any investment.  CPF is a net which may save you from unknowns in your old age , why weaken your net with uncertainty

Investments are made with my money outside cpf. 

boss... srs is not cpf

completely different accounts

😅

[Throttle2]

1 hour ago, Enye said:

boss... srs is not cpf

completely different accounts

😅

i know its different but

SRS from where then? For what main purpose?

its should be funded from your CpF essentially to complement the withdrawl timing

if not you want SRS for what. Save a few thousand dollars of tax but kena lock in with conditions? Mai lah

how come i dont have SRS Leh. 🤣

 

Edited March 26, 2021 by Throttle2

[Throttle2]

So for me,  the only viable sums which i will allow lock up to returement are my CPF monies.  But CPF monies i want to extract  the certainty for thats what it is meant to do.

maybe when i am working till an old age and i want to save taxes, i will pump $1mil into SRS every year so i dont have to pay any taxes and then withdraw upon retirement age without any condition or penalty. But can that be done?
No.  so SRS is a waste of time and effort for me.  
i am not prividing any advice. Just saying that SRS does nothing for me.  Not worthwhile and not relevent to me.

if good for you, go ahead. 
 

Edited March 26, 2021 by Throttle2

[Showster]

4 minutes ago, Throttle2 said:

So for me,  the only viable sums which i will allow lock up to returement are my CPF monies.  But CPF monies i want to extract  the certainty for thats what it is meant to do.

maybe when i am working till an old age and i want to save taxes, i will pump $1mil into SRS every year so i dont have to pay any taxes and then withdraw upon retirement age without any condition or penalty.

otherwise SRS is a waste of time and effort for me.  

拜托, go and read on SRS first before you provide your expert views!

https://www.iras.gov.sg/irashome/Individuals/Locals/Working-Out-Your-Taxes/Special-tax-schemes/Supplementary-Retirement-Scheme--SRS-/SRS-contributions/

[Throttle2]

3 hours ago, Voodooman said:

SRS pays peanuts if not invested. Not   CPF hor.  Almost every cent in my SRS are in long term equities, i didn't even bother with bond funds.

You must have weighed the pros and cons and are willing to accept the conditions for the tax relief benefits vis a vis using your cpf funds as SRS funding

hope it pans out your way.

cheers

[Voodooman]

1 hour ago, Throttle2 said:

You must have weighed the pros and cons and are willing to accept the conditions for the tax relief benefits vis a vis using your cpf funds as SRS funding

hope it pans out your way.

cheers

No. I used cash for SRS. 

[Throttle2]

2 minutes ago, Voodooman said:

No. I used cash for SRS. 

Yes, whether cash or CPF,  you must have already weigh the pros and cons for your situation and deem that it made sense for you.  
 

[Voodooman]

2 hours ago, Throttle2 said:

Yes, whether cash or CPF,  you must have already weigh the pros and cons for your situation and deem that it made sense for you.  
 

Yes. Done the maths. SRS is a no brainer for me. The $14k I put in save me a few thousands in taxes every year and the money in my SRS account are also fully invested. I am going to withdraw and spend after retirement age and after I have stopped working or earning below taxable bracket. 

You might have other ways to lower your taxes but for a salaryman like me, very limited options and I don't want to change diapers at my age. 

 

[Throttle2]

14 minutes ago, Voodooman said:

Yes. Done the maths. SRS is a no brainer for me. The $14k I put in save me a few thousands in taxes every year and the money in my SRS account are also fully invested. I am going to withdraw and spend after retirement age and after I have stopped working or earning below taxable bracket. 

You might have other ways to lower your taxes but for a salaryman like me, very limited options and I don't want to change diapers at my age. 

 

Unfortunately i hv no oyher way more than the next guy to lower my taxes. The savings are not substantial proportion to overall and i cant accept the conditions. Therefore effort vs returns for me , cannot work

[Enye]

3 hours ago, Voodooman said:

No. I used cash for SRS. 

other than cash, can use others meh? 😅

46 minutes ago, Voodooman said:

Yes. Done the maths. SRS is a no brainer for me. The $14k I put in save me a few thousands in taxes every year and the money in my SRS account are also fully invested. I am going to withdraw and spend after retirement age and after I have stopped working or earning below taxable bracket. 

You might have other ways to lower your taxes but for a salaryman like me, very limited options and I don't want to change diapers at my age. 

 

boss jin high ses.. anyway now cap is 15.3k not 14k