It is common for someone to have more money in their CPF than in their bank account, which makes sense to use CPF for housing. However, the primary purpose of CPF should be for your retirement and by using it for property purchase, you may have less for your retirement.

While having a roof over our head in the short term is more important than having enough for retirement in later years, we should be aware of the impact of not having enough in our CPF for retirement.

In this video, I talk about why you should try to use cash for your property purchase instead of tapping on your CPF.

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DISCLAIMER:
Jasper Ho is a licensed independent financial adviser representative in Singapore. Information here is for educational purposes only, you should do your due diligence when making any financial decisions. This advertisement has not been reviewed by the Monetary Authority of Singapore.

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