Syfe, a roboadvisor in Singapore, recently released a study that looks at whether Singaporeans are ready for retirement. 

Dubbed the Syfe Retirement Readiness Index, the study showed a few findings after polling about 1000+ Singaporeans across all age groups.

Here’s what they found:

60% of Singaporeans feel that they are not adequately prepared for retirement69% of Singaporeans don’t think they can retire comfortably50% save less than 20% of their income40% of Singaporeans are significantly behind on retirement planningWomen are slightly more retirement ready than menNearly 30% of homeowners saved less than 10% of their salary

What caught our attention is actually the low savings rate for the 35 – 44 age bracket – also most likely to be new homeowners and young parents.

Seeing that this will be Mr and Mrs Budget’s profile in the next few years, this worried us a bit too. 

According to the study, for the

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