Friday, July 22, 2022

Sunday, July 3, 2022

CPF Annual Report 2021 (1.134M42 Regrossed Balances)

CPF Annual Report 2021 had just been released!

Benchmark our CPF balances with the national data with the "All CPF Members" table.



With regrossed balance definition, we have a combined S$1.134million dollars in CPF. : ) That sounds better.

Anyway, net cash balance in CPF account is S$849,000 instead. 

The key is to stay employed. 

The regrossed balance includes the monies you have spent on investment / housing loan / education, etc. .

I personally think that is the right way of calculating as that shows your ability to draw cash into the CPF account (be it yourself or from the employer contribution).

Nevertheless, it excludes how well your stocks/ Endowus performance in the CPF OA account as they only count the amount you throw in.

That says, if your stocks/ Endowus perform well above 2.5% given by the CPF OA, you will expect much larger sum the moment you sell and return back to CPF OA!

 Vice versa.

We have achieved 1.134M42 and now target at 4M65. 

JK Holdings: CPF Regrossed Balances benchmark & CPF Balance Projection (Achieved 1M41 & Target 4M65) (

Friday, June 24, 2022


 Hot financial topics in Singapore:

(1) Projecting Your CPF Figures
Projecting Your CPF figures.

(2) CPF (Central Provident Fund) & Delaying Monthly CPF Life Payout ? (12 blogs)

Moment of Truth: CPF - Having a Good Retirement Life in Singapore.

Delaying Monthly CPF LIFE Payouts?

(3) How To Plan For Your Baby's Future (My Complete List Versus CPF Article)

(4) SRS (Supplementary Retirement Scheme)

(5) HDB De-Coupling:

(6) Investment Linked Plan Insurance (For Baby)

(7) Whole Life Insurance Plan (For Baby)

(8) CPF (Central Provident Fund) For Baby (2 Blogs)

(9) Singapore Insurance Summary (3 Blogs)
Whole Life Insurance, love it !

(10) Whole Life Insurance

(11) Endowment Plan Insurance

(12) Investment Linked Plan Insurance (2 Blogs)

(13) H&S (Hospitalization & Surgical) Insurance

(14) Travel Insurance

(15) HDB Rental & Singapore Housing Loan Interest (7 Blogs)

4-room HDB Rental (Toh Guan @ Jurong East): Year 2022 update

(17) Singapore Credit Cards (2 Blogs)

(18) Singtel TV Plan

(19) Singapore Cars

(20) Singapore Krisflyer & SQ Business Class

(21) Singapore Stocks (2 Blogs)

(22) Singapore Real Estate Guru Notes

(23) Waterfront @ Faber (Clementi, Singapore) (2 blogs)
(23) Singapore Education (2 blogs)

Singapore MOE School Fees (Primary 1 to 3) S$78 per year 

(24) Amanah Saham Wawasan 2020 (Malaysia)

(24) Citrine Residences & Sunway Iskandar Malaysia (2 blogs)

(25) Nusaheights Service Apartment, Iskandar Malaysia

(26) Malaysia i-Flexi Housing Loan

(27) Horizon Hills, Iskandar Malaysia (2 Blogs)

(28) Pay Yourself First

(29) My Exit Strategy On Singapore Real Estates: 99 Years Leasehold & 99 Years Lease

(30) Engineering Change Order (ECO)

(31) True Living Cost In Singapore

(32) New Chapter Of Life: My Work Life

(33) My Little Career Stories

(34) I Was Retrenched

Tuesday, May 31, 2022

One year rental increased by 53.5% & rental yield now 11.12%

Malaysia borders opened on April 1st, 2022 and I became the victim as a landlord as I lose out my Malaysian tenants. They decided to end the 2 years tenancy earlier and forfeited all the security deposits and yet they have to reimburse the agent fees that I have paid ( big sum all together). They want to reallocate back to Johor and do daily commute to work in Singapore.

JK Holdings: 4-room HDB Rental (Toh Guan @ Jurong East): Year 2022 update (

JK Holdings: Found new HDB tenant in 9 hours with 30.2% rental increment & 9.5% rental yield (

Blessing in disguise.

My agent managed to find new tenants in 7 days time with 17.9% rental increment
Just this year alone, the rental had been increased by 53.5%. 

The rental yield now is 11.12%.

With forfeited security deposit, the rental yield will shoot through 12% this year. Crazy!

My new rental of S$3,300 is the highest in Toh Guan, Jurong East. My highest transaction will be the fifth case in Toh Guan.

Based on the HDB rental caveat shown below, there are already four units of 4-room flat rented out at S$3,300. That's the top 5% rental at the entire Toh Guan estate. 

For the past 16 months transaction between February 2021 to May 2022, there are 80x four-room flat rental at Toh Guan estate. The median rental is S$2,200. The average rental is S$2,283.75.

As the LOI (Letter of Intent) had been signed, deposit had been received. I can now share the happiness.

Here are the timeline (based on my what's app timings):

May 24, 4.46 P.M. : Agent informed me that tenant would like to end the tenancy earlier.

May 26, 3.47 P.M. : Lease Termination Agreement letter signed. 

May 28, 4.10 P.M. : One potential tenant offered and I agreed. Rental S$3,200.

May 29, 2.39 P.M. : LOI letter submitted to potential tenant for sign-off.

May 29, 5.58 P.M. : The potential tenant decided not to sign the LOI as they found other unit.

May 30, 10.05 P.M. : Second new potential tenant offered and I agreed. Rental S$3,300.

May 31, 1.46 P.M. : The LOI had been signed, deposit received. Done deal. 

Hence, you can say we found the new tenant in 7 days.

When life gives you lemons, make lemonade !

Enjoy the drink!

Monday, April 25, 2022

CPF projection (end December 2022)

As of April 24, 2022, we have S$840,761.37 in our CPF account.

On track to reach 1M44 as a couple. :)

We had used S$255,647.91 from CPF OA account on housing loan.

We chalked up accrued interest of S$61,085.45.

In other words, we can do Voluntary Housing Refund (VHR) up to S$316,733.36 as of April 22, 2022 as the additional accrued interest will be added each month.

That says, our CPF Regrossed Balances currently: S$1,096,409.28


It is pretty easy to project the CPF balances by the end of December 2022.

As all the bonuses had been credited in March 2022, the subsequent monthly contribution will be fixed for the next 8 months, namely : 
OA contribution
 = ( OA contribution + MA contribution ) x 8 months 
as MA contribution will flow to OA account once MA had reached the BHS.

OA = ( S$1,260.3 + S$539.9 ) x 8 = S$14,401.60 that brings the OA balance to S$128,004.79.
With interest, OA account balance shall be close to S$131,204.

SA = S$419.8 x 8 = S$3,358.4 that brings the SA balance to S$236,504.34.
With interest, SA account balance shall be close to S$246,674.
Total CPF balance will be S$446,716.
I probably will do VHR of S$3,284 to make the balance to be S$450,000 for the year 2023.

As for my spouse:
OA = ( S$1,260.3 + S$539.9 ) x 8 = S$14,401.60
Minus S$1,000 x 8 for the private housing loan and that brings the OA balance to S$152,059.32
With interest, OA account balance shall be close to S$155,860.

SA = S$419.8 x 8 = S$3,358.4 that brings the SA balance to be S$236,504.34.
With interest, SA account balance shall be close to S$246,674.
Total CPF balance will be S$471,372.

The combined CPF account balances shall reach S$921,372.

The figures above will be further validated on January 1st, 2023
Let's see how close it will be.

You can also use the CPF calculator below to project your CPF balances, for example at age 55, 65.
It includes the RA balance and the projected FRS too!

Tuesday, February 22, 2022

Singapore MOE School Fees (Primary 1 to 3) S$78 per year

I just made a count on MOE School fees for Primary 1 to 3.

Total School fees (EDUSAVE + Cash portion): S$716.30, whereby S$234 paid in CASH (32.7%) , S$482.30 paid by EDUSAVE account.

Your child will receive receive S$1,470 FREE (throughout 3 years) from the government in his/her EDUSAVE account.

The miscellaneous fee of S$6.50 monthly has to be paid by CASH.

Hence, S$6.50 x 12 months x 3 years = S$234 ( paid in CASH only)

I would say the S$78 annual school fees in Singapore is extremely affordable and yet you still have a good balance in EDUSAVE account that attract 2.5% interest.

Friday, February 18, 2022

4-room HDB Rental (Toh Guan @ Jurong East): Year 2022 update

  • 4-room flat, 90 sqm (968 sqft) purchased in June, 2009 for S$355,000 (S$367 PSF).
  • Renovation started on Dec 11, 2009 until January 24, 2010.
  • Private bank housing loan was fully paid/redeemed on August 1st, 2014.
  • Self-stayed for 7 years & 10 months until October 13, 2017.
  • The HDB unit was rented out since November 5, 2017 until today.
(1) Tenancy agreement was renewed for the second time (total 52 months to be exact as tenant ended the tenancy 2 months in advance) with the same rate of S$2,150Rental yield: 7.27%.
 The 3rd tenancy agreement ended on February 28, 2022.

New tenant found with 2 years contract, starting on March 1, 2022, with new monthly rental of S$2,800. New Rental yield: 9.5%.

(2) Total rental income to be received for 4x tenancy contracts, total 76 months (until Feb 2024) will be : S$179,000
52x S$2,150 = S$111,800
24x S$2,800 = S$67,200

(3) Miscellaneous charges:
Yearly rental income tax (through additional personal income tax): at least one month of rental:
S$2,150 x 4.33 years ~= S$9,309 (52 months = 4.33 years)
S$2,800 x 2 years ~= S$5,600
Reality (estimated): S$19,413
Monthly town council fees of S$79.50 x 76 months = S$6,042
Real estate agent fees paid: S$1,150 (2017) + S$1,613 (2019) + FREE (2020) + S$2,996 (2022) = S$5,759
(I engaged tenant directly for 3rd tenancy agreement renewal with the consent from the real estate agent.)
Property tax S$449 (2017-prorated) + S$960 x 4 (year 2018-year 2021) + S$1014 x 2 (year 2022- year 2023) = S$6,317
- Changed a new Daikin System 4 air con S$2,780 on June 27, 2019.
Toilet repair done by HDB on March 1st, 2019, S$339
Touch-up/furnishing cost on November 5th, 2017, S$1,800
- Touch-up/new kitchen hob, February 18, 2022, S$1,753
Total cost: S$44,204 (up to Feb 2024).

(4) Net gain: S$179,000 - S$44,204 = S$134,796. (38% of the purchase price) for 76 months = 6.33 years.
Net rental yield: 6%

The flat still has 74 years lease (counting from year 2024 until lease expired, year 1999 flat).
(possibly additional rental income of: 74 years x 12 months x S$2,800 = S$2.486 million)

Each year of rental will bring a net gain of S$21,294 (S$1,774 net monthly gain).