Retirement is often pictured as golden period where one enjoy the fruits of decades of hard work. To some, it could be having a stress free life and doing the things we enjoy. For others it might be enjoying the company of family and friends or engaging in a religious or social cause.
However, due to the pragmatic nature among Singaporeans, not having to worry about money is often ranked as the most important aspect of a happy retirement. Many "planners" among us understand that having sufficient funds is a pre-requisite for retirement and this financial security also helps in creating peace of mind.
It is estimated that the average Singaporean has about $120,000 in cash savings at age 55. It does not take a financial expert to know that this amount is inadequate, especially in high cost Singapore where the costs of a nursing home stay ...
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