Make The Most Out Of Your CPF Savings Through Investing

By Maicel Ryan


Employees in Singapore now are luckier compared to those who retired from their jobs before the 1950's, as the Central Provident Fund system was not yet implemented back then. The retirement savings scheme established by the Singaporean government for Singaporean employees aims to set aside some amount from the employees' income which they can use in the future.

Today, the CPF scheme has four major functions, namely: Retirement, Healthcare, Home Ownership, Family Protection and Asset Enhancement. With this, employees are not only assured that they'll have money after retiring, but they can also receive financial support when they get sick, buy their own house, or invest their money to make it grow faster.

The Best Way Of Investing Your CPF

Investing is quite a risky business, but people who can manage well their finances can benefit greatly from it. As an employee you can use your CPF savings to invest in a company or venture that seems profitable to you. You can put your money into insurance, unit trusts, or even gold exchange trade funds. If you are not sure about this, it's advisable to seek help from a financial advisor regarding your decision, or you can just put off your investment plans.

If you are really serious about wealth management Singapore financial advisory firms are what you should seek. Financial advisors can offer sound advice on where to invest and how to avoid the risk of losing all your hard-earned money. With the help of a financial advisor, you can determine what type of investment you have to go into. Aside from this, a financial advisor can help you handle other finance-related matters like insurance. So if you need assistance in insurance planning Singapore financial advisors can be of great help.

How To Search For A Good Financial Advisor?

If you are a risk-taker, you probably wouldn't have reservations with regard to investing your CPF savings in another entity rather than your account. However, you should not always be complacent when investing your money, especially without consulting a reliable financial advisor first. A financial advisor can help you understand CPF investment including its risks and opportunities.

To know more about other rules regarding CPF investment, you can find yourself a financial advisor online. To make sure that you're dealing with the right people, you can check the records and clients of the financial advisory company you will be working with.




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