Tuesday, October 7, 2008

Are You Retirement Ready?

Are you retirement ready? Oops... what do you mean?

Today I'm going to talk about some benefits of Supplementary Retirement Scheme Account (SRS).

I've an SRS Account but now no longer qualify to contribute. Why? Me got no employment income, pay zero tax, so cannot contribute to SRS Account.

I invested my first contribution in NTUC single premium insurance. Subsequent contributions remain in my SRS Account which I have the flexibility to make my Money Work Harder for ME. How? I invest it in Unit Trusts or Singapore Stocks. I wait for the right opportunity, then strike and wait to take profit. I use my SRS Account to buy good Singapore Stocks which cannot be bought using CPF.

Do you know it is cheaper to make your money in SRS Account grow, compared to CPF OA or SA Account, when you invest in Unit Trusts or Singapore Stocks? Yes, you dun have to pay the Bank transaction fees for each buy/sell transaction, additional fees based on volume of stocks and holding costs.

Do you have an SRS Account? Start one now or continue to grow it. It is a form of forced savings. Take advantage of the benefits given to you! What's more, you can make your money work hard for you!

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