Most Singaporeans are ill-prepared for retirement
Retirement is a pretty touchy topic for most people and here in sunny Singapore, it is no exception. While most of us will like to retire in comfort, without having to worry about $$$, how realistic is this dream going to be in a nation where the daily living expenses is one of the highest in the world. In this article, I will try to address the question of How much to retire in Singapore?
According to this survey done some time back in May 2019, it was noted that a single elderly Singaporean needs S$1,379/month to meet basic living standards. A couple aged 65 and above would need $2,351/month.
This is just a broad guideline and the amount likely varies across individuals. However, it is always an ideal scenario to be over-prepared than under-prepared.
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