Thoughts on HDB housing loan and 4th year topping up CPF SA

Each day passing is one step towards old age.

Unknowingly, we are in mid 2019.

Top-up to CPF SA

Anyway, with my bonuses in, I decided to park $7k into my CPF SA for tax relief purposes.

I've always been saying that I should do the $7k voluntary top-up at start of the year to gain extra interest, but have never done so hahaha

Got my hubby to do the same as well...not without some nagging and me taking control of the transfer 🤦‍♀️

Hubby wasn't super keen as he preferred to keep the cash to pay off our housing loan ASAP.

His thoughts on our housing loan

  • For context, our balance to pay is at $500k+ 🙃We are paying equal amounts for the home.
  • Wipe out our CPF, leaving $20k in OA
  • Pay $100k cash upfront (or even more if we can afford) - he feels our investments does not beat 2.6% interest charged by HDB for loan. This is true given majority of our money in savings accounts, SSBs, FDs which gives at best 2% interest?
  • For the remaining amount, to get a 25 years loan
  • Try to pay our loan with full cash each month and not touch our CPF 😲
  • Pay off housing loan ASAP using bonuses to reduce loan 💸
And finally, to sell off our HDB after 5 years for profit which I object since I want to stay in there forever 😛That's another topic for next time!

What are your thoughts to this? For those who has been there done that, how did you pay off your loan?

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