My First Transfer from CPF-OA to CPF-SA
In one of my posts, Will CPF still be an election topic in 2045?, I mentioned that I might be considering contributing a small sum every month to the CPF-SA:
"Let the magic of compounding show its power. Do it early. A S$100 monthly (S$1,200 yearly) contribution for 30 years will amass a sum of S$69,636. If it is S$200 monthly (S$2,400 yearly) contribution, it will amass a sum of S$139,273..."
Decision made - Looking forward to the reward in the long term
I decided at the end of 2015 to do my first transfer of S$2,400 from CPF-OA to CPF-SA to kick-start this micro saving plan. Let's just say, I am looking forward to adding the S$139,273 to my retirement account.
The interest accumulated in my CPF-SA has slowly grown over the years.
On top of the monthly employer-employee contribution, I will be "accelerating" the progress to build the CPF-SA to a sizable amount. The message I hope to drive is the magic of compounding needs the time to work.
Do the right things! Be patient! Good things take time!