Actual Case Study
Case Study 1
Mr Tan is 54 years old this year and stay in a 5 room HDB flat. He is required to keep $166,000 in his CPF Retirement Account upon reaching 55 years old. Here, he has planned to downgrade to a smaller HDB flat. After working out a detailed financial calculation with him, he can safely downgrade to a fully paid HDB flat before his CPF is locked up in his CPF Retirement Account.
Case Study 2
Mr and Mrs Liew are in their 60s. They stay in a private condominium with their grown up children. They plan to downgrade to a HDB resale flat after their children got married. They have an existing $100,000 in outstanding loan. After selling their condominium and fulfilling their CPF Basic Retirement Sum, they are able to fully pay a HDB resale flat and yet have $500,000 cash for retirement.