big orange 0 Report post Posted November 2, 2010 Hi all, Is there anybody who have an early redeemption plan/program for your hdb flat? Will like to learn from an working example of money management skill of such. Example, how much saving/cash/cpf should we keep whenever we do a early redeemption. Thanks!!!!!!!! Share this post Link to post Share on other sites
bepgof 20 Report post Posted November 2, 2010 (edited) Hi all, Is there anybody who have an early redeemption plan/program for your hdb flat? Will like to learn from an working example of money management skill of such. Example, how much saving/cash/cpf should we keep whenever we do a early redeemption. Thanks!!!!!!!! Partial or full? Minimum $5k in multiple. What got simi plan, got money spend first lah, make ownself happy happy, tio bo? Men manage money?, or money "manages" men? Edited November 2, 2010 by bepgof Share this post Link to post Share on other sites
mel77 1 Report post Posted November 2, 2010 Hi all, Is there anybody who have an early redeemption plan/program for your hdb flat? Will like to learn from an working example of money management skill of such. Example, how much saving/cash/cpf should we keep whenever we do a early redeemption. Thanks!!!!!!!! If using cpf to pay.....usually the officer will advice you to leave at least 3 months buffer for deduction. But all this you should decide. When i do lump sum payment, i always set aside at least 1 yrs buffer in case lose job. When servicing the loan repayment also always based on 1 person's ability to service the loan. kekekeke!!! (old school of thoughts) Share this post Link to post Share on other sites
therat 18 Report post Posted November 2, 2010 Hi all, Is there anybody who have an early redeemption plan/program for your hdb flat? Will like to learn from an working example of money management skill of such. Example, how much saving/cash/cpf should we keep whenever we do a early redeemption. Thanks!!!!!!!! no fix rule no recommended program no ISO procedure Cheng hu didn't come out a term and condition. requirement. HDB don't have standard FQA on this basically it is depend on you. What you want to do with ur money. Some ppl say.. loan max max, use the money to invest. Invest is > than interest Some ppl say.. must clean the loan ASAP, pay less interest. Less loan = less interest = less headache Depend what you want. which one you more song Share this post Link to post Share on other sites
bepgof 20 Report post Posted November 3, 2010 (edited) Hi all, Is there anybody who have an early redeemption plan/program for your hdb flat? Will like to learn from an working example of money management skill of such. Example, how much saving/cash/cpf should we keep whenever we do a early redeemption. Thanks!!!!!!!! On account of staying in same town, here impart you some skills learnt through observation and practice: Skill#1: Whether self-emplyed or employed, chiong and work & work (full + part time)like COW as what Therat did for the past 25 years and do a full redeemption at 2nd appointment. Skill#2. Using spreadsheet, do a 5-10 year cpf OA projection and look at yearly accumulated sum column and make own's slyvia drips. There you'll know "how far" you are away from the "dream". Skill#3: Dig your spouse's pocket monthly! This one must learn. Skill#4: Keep all cash, dump all cpf OA into property(55 year old too far to reach)Cash for 20% or 30% downpayment for mortgage loans for new house + COV + loan + reno + annual holidays Skill$5: Do weekly subscription to Singapore pools, make sure to do a one-time withdrawal of past deposits + "interest" + "capital gain". :dribble:Note: personally I don't practice skill#5, wife practises skill#3 and I'm happy to comply, why?) Edited November 3, 2010 by bepgof Share this post Link to post Share on other sites
big orange 0 Report post Posted November 3, 2010 Thanks everybody. I'm thinking if there is some plan within some hdb owners that can work for me. If anyone have your OWN plan/program, do share. Thanks. Share this post Link to post Share on other sites
therat 18 Report post Posted November 3, 2010 Thanks everybody. I'm thinking if there is some plan within some hdb owners that can work for me. If anyone have your OWN plan/program, do share. Thanks. My completed plan. Fully paid HDB Wish Plan: buy 2nd property , to be landlord Share this post Link to post Share on other sites
chronograph 0 Report post Posted November 3, 2010 Skill#1 works well for me, have been working for 12 years only. Which means i have 13 years to go... what a long way. Skill#2 i think u had sent me a copy. After checking, not too far already. Skill#3 Luckily my wife is not reading this forum. Skill#4 already done that. Skill#5 Use to do that, but realised i don't have "HENG CHAI" so i stopped. Frankly, i think my program will be skill#1, to work like dog and pay off the loan. Share this post Link to post Share on other sites
