What does it take to save a million dollars in your CPF Account as your retirement plan?

You may have heard about a Singaporean who accumulated a million dollars in CPF savings 28. Is it possible and what do you need to do if this amount is going to form the bulk of your retirement savings?

What is CPF?

CPF stands for Central Provident Fund. Managed by the Central Provident Fund Board (CBFB), it is a social security savings scheme that helps working Singaporeans and Permanent Residents save for retirement, healthcare and home ownership. Depending on age, all working Singaporeans and Permanent Residents contribute a certain percentage of their monthly salary a month to CPF. In addition, employer...