Again in 2021, I opened my SRS account to lock-in my withdrawal age at 62 and as one other avenue to scale back my earnings tax. Blogged about it beneath:
2022 SRS Sport Plan by way of Endowus
Now that it is 2022, I wanted to start out my SRS buy once more. This time, I might be pumping within the max of $15,300 money to squeeze the max earnings tax reduction.
I had initially thought to delay this pump until later this yr, as I wished my money to generate larger returns first, after which channel it to SRS.
Nevertheless, I made a decision to be extra robotic about my SRS funding and DCA in. Which means that I’ll
Purchase SRS at 5 totally different tranches, at $3060 every
For the previous weeks, the inventory and crypto market has been dipping whereas awaiting the precise plan from the US Fed. Simply final night time, US Fed has launched their newest plan; considerably aligned with their earlier plans and public’s expectations. Whereas there is not any shock fee hike, Fed introduced that there might be additional dialogue and potential rates of interest hike in March, seemingly kicking the can down the highway.
Primarily based on the information, it’s unlikely for us to see nice returns like in 2020/2021 inventory/crypto market.
2022 could also be an uneventful yr for merchants because of sideway market.
As a newbie investor, I do not suppose I ought to time the market an excessive amount of. I can not predict what’s to come back therefore, I’ve determined to only enter my SRS trades 5 instances throughout this yr.
I’ve simply entered my first tranche now and can replace when my subsequent 4 trades are.
CPF OA funding
Individually, I’ve additionally began dipping into my CPF OA by way of Endowus to purchase into Lion International Infinity US 500 Inventory Index Fund. Simply low 4 digit figures.
Endowus Referral
If you’re eager to embark on Endowus utilizing your SRS, CPF OA and even money, you might want to use my hyperlink to get pleasure from $20 in Entry Charge credit score (equal to $10,000 suggested free, assuming Entry Charge of 0.40%).
https://endowus.com/invite?code=FUKYD
As at all times, pls DYODD!
