And therr's the withdrawal limit to look out for.Originally Posted by PNWant to share one real case.
He bought a condo at 800k few years ago. He is earning about 9k. Wife working but pay not much. So I would say total hoisehold income is 10.5k income.
He owns a car & has two kids. He has a maid. He told me he hardly has savings every month. Pay just enough to cover monthly expenses. Sometimes he drive to his parents hosue who lives nearby to have dinner.
His mortgage is mainly paid using CPF + less in cash initially.
Recently, his CPF has dried out so most of mortgage has to be paid in cash already.
Monthly expenses gets tighter with this.
So don't assume your CPF can last forever to cover most of it.