Asked by Greg Cheng
I am in a sort of dilemma. My wife and I live in an EA apartment which is fully paid-up. We have no children and will be turning 55 in a couple of years. We love our house very much and have no intention of selling until much later. Things changed when I found out that we cannot use our minimum sum in our CPF to purchase the next (smaller) flat when we reach 55 years of age. From my calculation, when we sell this house, the amount that is accrued to the CPF plus the current balance we have will afford us a 5 room flat. That means we have quite a fair bit of cash, that is if we downgrade before we are 55. As much I love to stay on in our present house, I am also reluctant to forgo the opportunity of having a substantial amount of cash. I would like to hear some expert opinions here. Thanks.
775 views
