There are numerous risks to take note of when planning for your retirement.
One example is longevity risk, where one outlives their life expectancy and requires more funds to finance their expenses in retirement.
Other threats include rising inflation which will lower the purchasing power of your savings.
Market volatility is yet another risk that could abruptly lower the value of your investment portfolio just when you need the money.
Clearly, you can never be too prepared when it comes to saving up for old age.
To encourage Singaporeans to further build up their retirement nest eggs, the Singapore government devised the Supplementary Retirement Scheme, or SRS.
In this article, we provide an overview of the SRS account and introduce some potential investment options for it.
Introduction to the SRS
The SRS is a voluntary savings scheme that is meant to work alongside your Central Provident Fund (CPF) account to boost your retirement savings....