Singapore is said to have one of the longest lifespans in the world, with life expectancy having risen to 83.5 years – which means it's critical to keep our finances up into our golden years.
A good retirement plan stacks on layers of passive income streams to ride out market volatility and hedge against downsides. Planning ahead gives you peace of mind and lets you focus on what truly matters: enjoying your retirement with your loved ones.
Know how much you will need for retirement. Calculate your basic and lifestyle expenses, so you can see where you stand and how to progress toward your goal.
Visit the “Retire” tab in digiWealth to set up your unique retirement goals. Enter your desired retirement age and review whether your retirement income covers your projected expenses.
Plan for stable income to meet basic needs, take some risk when investing in growth to afford occasional luxuries.
As your needs change, so will your retirement plans. Review regularly to ensure you stay on track.
Consider investing your CPF savings to ensure the value of your hard-earned money isn't eroded by inflation.
Set up and fund an SRS account to enjoy tax savings, and invest these funds to help them grow.
Life insurance plans that provide you with a steady stream of payouts.
A portfolio that auto-adjusts risks as you age, to build your retirement pot.
Planning ahead starts now. If you need a little guidance, talk to your personal Wealth Planning Manager.
Find out how you can retire well in more ways here.
The Kueh Lapis Theory of Retirement
5 tips to retire well
CPF hacks to grow your nest egg
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