Investment Using SRS fund - My Experience
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Many articles have been written on SRS Account and it’s pro and con. You may find few good blogs and summary as below :
SUPPLEMENTARY RETIREMENT SCHEME (‘SRS’) ACCOUNT from HeartlandbOY (here )
Is the Supplementary Retirement Scheme a Waste of Your Time and Money? From Money$mart.sg (here)
Why it makes sense to contribute to the SRS account (to a certain extent) from moneydigest.sg (here )
While some may not agree on useful or merit of contributing money into SRS account on reason of “long lock-in “ period and others .
Why I Am Not Too Keen On The Supplementary Retirement Scheme from My 15 Hour Work Week (here)
And of course the famous AK on his blog on “ How AK uses his SRS money and why ? “ (here)
I was quite reluctant to contribute into SRS account at initial stage because of very long lock-in period where one can only start to withdraw when we reached our statutory retirement age to avoid any penalty. But when my taxable income hit tax bracket of above 10% , I changed my mind and started to contribute in 2013 and the following year of 2014. I have only contributed 2 years of SRS as I have stopped working in end of 2014.
I have enjoyed more tax deductible in YA2014 & YA2015 with total SRS contribution of $25,550.
My Investment return on SRS Account :
As of today , I am getting around 8% (XIRR ) of ROI on my investment by using SRS account , which is not bad for 3.5 years of investment, of course will need to see this in much longer term or time horizon.
How about you ? are you contributing to SRS and what kind of investment you have made or done for money under SRS account and your return of course ?
“Growing old is not an option. We don’t have a choice. But we do have choices that will greatly affect our quality of life for the rest of our life.” by Henry K. Hebeler