Personal Finance
How Much CPF Do You Need For Your Desired Retirement Income?
By Seedly  •  April 30, 2021
Being a (relatively) young person, I’m always intrigued by the numbers of our Central Provident Fund (CPF). Knowing that I still have a relatively long runway, I always enjoy trying to figure out how my CPF account can fit into my financial planning and goals. When it comes to retirement, the presence of CPF reminds me that there’s always a safety net around to fund my future needs. For the uninitiated, CPF is a mandatory social security savings scheme that consists of CPF LIFE, a life annuity that provides lifetime payouts for eligible individuals. Now, we should ideally have different income streams that would help fund our retirement needs in the future. However, if we only want to depend on CPF as our only source of retirement income… How much do we actually need in our CPF accounts to meet our basic living needs? (Psst… Are you a Seedly member yet? Sign up for your FREE membership before it’s too late!)...
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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