Check out this CPF calculator by the Value Warrior. I found it very useful. There is also another CPF calculator under the Endowus Page but I have not included the link here.
I did do a personal projection of CPF using my excel sheets, however the results are not really the same. I made the assumption that there will be no salary increments and bonuses because my employer is very very stingy and doesn't appreciate the staff. We should even be lucky to still have this job. Anyway, using the most pessimistic assumptions, this site says I have barely reached ERS. But Endowus says I will run out of withdrawal CPF by the age of 82 unless I have invested with them. Should I be worried? Actually I did do my own investments of CPF OA which is not reflected in the predictions. I can't really say the dividends are really generating wonderful amounts but there is some form of capital appreciation as some of this were bought during the market crash during our first year into the pandemic. All these numbers are making my head swim.
Meanwhile, the situation at home is not good. The old parents health are not doing well. They don't have much savings left due to their bad planning and they don't have much medical insurance coverage. The burden will be upon us. They had the money but didn't save and invest well. Now the headache is upon us. I'm determined to top up my CPF again every year but if my parents medical bills suck up my savings, my plans will be derailed. I can only pray for a better job with better pay.
I read horrible news of how scammers also cheated so many people by sending them fake links to banking sites that look like the actual bank. I would like to emphasize never never click on anything from any email, sms and watsapp and wherever. It's scary and terrible.
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