CPF MRSS: dollar for dollar matching up till $3,000

 

Matched Retirement Savings Scheme (MRSS) was announced in Budget 2020.

Before you got too excited, sorry to let you know that NOT everyone is eligible for MRSS.

You can check your eligible via CPF website.

Benefit of MRSS if you are eligible:

1) Dollar for Dollar matching up till $3,000 (Cap at $600 / year)

2) 4% int rate for CPF RA

3) Power of compounding. Build up to increase your CPF Life monthly payout amount

4)  Your love one can enjoy tax deduction if they top up to your RA account for you

(For those who are eligible for MRSS, majority of them pay little or no tax)

Extra tip to milk this scheme to the max: Do your MRSS as early as possible (Best is in JAN)

I done my part to top up $600 to my mother RA today and will be doing the same till 2025.

Related post:

1) Done for 2020 CPF Retirement Sum Topping-up (RSTU). How about you? 

2) New milestone - $300,000 portfolio

3) 33 financial tips for my 33rd Birthday

4) What I had learned in term of Life and Financial during Circuit Breaker (CB) period

5) Transferred $20,000 from CPF OA to SA for Oct 2020

6) Why you should sign up for NTUC Union membership now........

Added: Fortune REIT (HK 778) - Power of Neighbourhood malls

 

Bought 17,000 shares of Fortune REIT on 18 Jan at HKD 7.14.

This is my first oversea stock outside of SGX.

Reasons for buying:

1) Dividend 6.6%

Fortune Reit will be declaring their semi annual dividend soon and will go XD in Feb 2021

2) PB 0.47

3) 2014 price

Put aside 2020 Covid year, the last time it trade at low HKD 7+ is in year 2014

4) Power of Neighbourhood malls

In Singapore, we have king of Neighbourhood mall Frasers Centrepoint Trust.

In Hong Kong, we have Fortune REIT.

5) Impressive Purchase price vs Current Valuation

6) Divestment at 48% & 89% premium

7) Managed by ARA & Sponsor is CK Asset Holding Ltd

Related post: 

1) Added: Frasers Centrepoint Trust

2) Added: HongKong Land USD (Aug 2020)

FIRST REIT: Buy & Sold 83,200 shares within 3 days (Part 3)

 

Bought 83,200 shares of FIRST REIT on 13 Jan at $0.24

Sold 83,200 shares of FIRST REIT on 15 Jan at $0.255

Average price per share dropped from $1 -> $0.64 -> $0.58 (Remain same capital cost $48,000 amount). 

First Reit released their Full Year result yesterday 14 Jan.

Result is within expectation, nothing surprising if you have been following their announcement update since 2020.

Why I sell it today?

The uncertainly outcome of the EGM on 19 Jan.

If EGM got the Green light, high chance I will be able to buy at near 20 cents from open market.

If EGM got rejected, high chance the share price will drop further.

Given the risk reward ratio, safer to stay on the sideline and wait for the EGM result.

For existing shareholders who intending to keep this stock in cold storage [due to massive loss :( ], you might want consider selling at least 60% of your holdings on Mon (last chance) before the EGM to lower your risk.

If EGM got the green light, at least you have the capital to subscribe to rights (including excess).

If EGM got rejected, at least your lost amount is lower (assuming share price will drop further).

Objective for doing so if you want to lower your average share price like what I am doing.

If you are lost on this post, read this and this first.

Related post:

1) SIAS - First REIT Virtual Dialogue Session key highlight

2) Increased my FIRST REIT from 48,000 shares to 75,300 shares 

3) FIRST REIT: 75,300 -> 0 shares (Part 2)

4) First REIT AGM 2020

5) Added: FIRST REIT (Jan 2020)

6) Added: FIRST REIT (Jan 2020) again