Personal Finance
RETHINK YOUR RETIREMENT STRATEGY WITH CONCEPT OF “SEMI-RETIREMENT”!
By The Astute Parent  •  December 1, 2020
According to OCBC financial wellness survey 2020, 75% of Singaporeans are NOT on track to retire at their ideal age and live their ideal retirement lifestyle! (As shown below). This is a worsening proportion of survey respondents from 2019! Maybe it's covid-19 situation but what is causing so much concern in retirement?

Key problem in retirement thinking

According to this THE STRAITS TIMES article, $1.3M needs to be saved to retire. The sum is derived based on the wish list of customers who say they want to have at least $3,000 to spend every month after they retire. Indeed, if you want to increase your spending power to $5,000 a month, OCBC says you will need $2 million. Yes $2M, a number that is daunting, NOT inspiring, for a young working adult. Why is the number for retirement always so big? It is your expectations on how much spending power X number of years in retirement!...
Read the full article
By The Astute Parent
We have been sharing in-depth insurance plan reviews to our community since 2016. TheAstuteParent is now the BIGGEST online resource of financial planning guides. We are committed to upholding it that way.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance