Today is the first day of the 2020. It means one thing. I am able to contribute monies into CPF medisave account for a higher interest. This will also mean that I will be able to claim some tax relief in the event if I enter some part/full-time employment in 2020.
I have been making such voluntary contribution for a few years. It is natural for me to use the same strategy, albeit that I am no longer having the active income from the full/part-time employment. Such circumstance will not be suitable for such strategy. I know that there is a likely possibility of making some form of active income (from either full or part-time employment) in the future ahead. It is also possible that I may not have any employment at all for the rest of my life. The future is unknown. It is good for me to make some form of provision in anticipation of future happenings.