Back in 2021, I opened my SRS account to lock-in my withdrawal age at 62 and as another avenue to reduce my income tax. Blogged about it below:
- I finally set-up my SRS account and then DBS screws up
- Maximising my $10,001 SRS top-up with Endowus
- Best time to lock in your 62 yo withdrawal age is now - Endowus $40 referral bonus (usual - $20) till 31 Dec 2021With the
2022 SRS Game Plan via Endowus
Now that it's 2022, I needed to start my SRS purchase again. This time, I will be pumping in the max of $15,300 cash to squeeze the max income tax relief.
I had initially thought to delay this pump till later this year, as I wanted my cash to generate higher returns first, and then channel it to SRS.
However, I decided to be more robotic about my SRS investment and DCA in. This means that I will
Buy SRS at 5 different tranches, at $3060 each
For the past weeks, the stock and crypto market has been dipping while awaiting the actual plan from the US Fed. Just last night, US Fed has released their latest plan; somewhat aligned with their earlier plans and public's expectations. While there's no surprise rate hike, Fed announced that there will be further discussion and potential interest rates hike in March, seemingly kicking the can down the road.
Based on the news, it is unlikely for us to see great returns like in 2020/2021 stock/crypto market.
2022 may be an uneventful year for traders due to sideway market.
As a beginner investor, I don't think I should time the market too much. I can't predict what's to come hence, I have decided to just enter my SRS trades 5 times across this year.
I have just entered my first tranche now and will update when my next 4 trades are.
CPF OA investment
If you are keen to embark on Endowus using your SRS, CPF OA or even cash, you may wish to use my link to enjoy $20 in Access Fee credit (equivalent to $10,000 advised free, assuming Access Fee of 0.40%).
As always, pls DYODD!