Applied for T-bills

Applied for $5000 worth of T-bills (6 months cut-off yield at 3.77%).

Topped up my SRS account with spare cash and applied for the T-bills.

Given the interest rates,  it is probably better than fixed deposit rates.  Besides that, I get tax reliefs for topup to SRS account too.

Just Contributed More Money To SRS Account

I just contributed another lump sum of monies to my SRS account. There are good reasons for me to do so since I get to enjoy tax reliefs and will end up paying less taxes for the next year.

I figure that I have contributed about $10000 and upwards so far this year to my SRS account. There is a cap to how much relief I can claim so I will probably max that out by end this year ( which really does not give me much time!).

I have also maxed out my CPF minimum sum top up by contributing $7000.

Good tax reliefs so why not?

Time to Top Up CPF and SRS

Cannot believe that the year is almost coming to a close. Anyway, it is the time of the year to stay putting my finances in order again. And one of those tasks is taking what available spare cash I have to top up my CPF Special Account under the retirement sum top up scheme. Just maxed it out to $7000 since that is the max I can claim tax relief for.

The next step will be to top up my own SRS account as well as my wife's CPF account. All these helps to reduce the taxes that I need to pay. If you all me, I think it is almost a no-brainer that this should be one of the basic steps in retirement planning in Singapore.