How Will the Closure of Your CPF Special Account Affect Your Retirement? - The Brain Behind (S3E04)

Providend's Money Wisdom

The CPF changes announced during #Budget2024 have been receiving a range of opinions on the ground as Singaporeans who had "Special Account shielding" on their minds, question their next steps when it comes to retirement planning. Given the unpopular opinions, is this the right move to make for the primary purpose of the CPF? What do these changes mean to you as a young accumulator or a near-retiree?

In this week’s Money Wisdom episode, our CEO, Chris, encourages us to dig deeper and to ask ourselves what the original intent was for the monies left behind in our CPF balances after turning 55, should these changes not have been announced in the first place. That would give us a good idea of the next steps to take.

Also, stay tuned for our next podcast episode, where we will be going through a client case study!

Did you know that our Providend’s Money Wisdom podcast is now available in video format on YouTube? Follow us on our YouTube channel for new episode every Thursday at 8pm: http://www.youtube.com/@ProvidendSG

The host of this episode, Jin Lee, is an Associate Adviser at Providend, the first fee-only wealth advisory firm in Southeast Asia and a leading wealth advisory firm in Asia.

View the full list of podcast episodes published: https://providend.com/providends-money-wisdom-podcast-season-3/

Music courtesy of ItsWatR.

Mentioned in this episode:

Download our RetireWell™ eBook Today!

Our popular RetireWell™ eBook has been updated! RetireWell™ is a methodology that Providend has developed to design a retirement income plan that will provide you with a safe and reliable stream of income for the rest of your life. Check out the link here to download a complimentary copy of the full eBook today: https://providend.com/publications/#retirewell