Most of us who read about wealth management would be familiar with both the CPF and the SRS. Both accounts are great (with their own humble limitations) to aid us towards a good retirement. Let’s look at the most ideal case where you reach your FRS (full retirement sum) and also the Best Case Situation for SRS. Assuming you draw down SRS at age of 65, this would mean that you will have the following retirement income in future.

FRS: $14,400 ~ $16,800 annually

SRS: $40,000 annually (for 10 years)

The combined income will be approximately $55,000 annually which is a decent income for retirement. Obviously, we have to think about replacing your SRS income after the 10 years. Longevity risk in Singapore is very real as the average mortality age for men is 83 and 88 for women.

However, your retirement will be thrown off course if you do not understand about the upcoming war.