Personal Finance
How I Plan To Get $5k Monthly From My CPF
By Singapore's Budget Babe  •  August 20, 2023
You’ve seen my plan for building up my retirement income (here), and you’ve sent in the questions. In this article, I dive deeper into how I intend to get paid $5,000 per month in retirement from my CPF funds alone, as well as the steps I’m currently taking to get there. Let’s start with a quick recap – when we retire, most of us will still have expenses to pay for. I’ve categorised them as follows:
  • Fixed expenses (cost of living)
  • Travel expenses to overseas countries
  • Unexpected expenses (e.g. medical bills, replacement costs for home appliances due to prolonged use, etc)
The amount we will need in retirement all boils down to how much our expenses add up to. If you asked me, the best solution involves planning for the expected costs of living (my needs) and travel expenses (my wants), while I rely on insurance or my emergency funds for the unexpected expenses....
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By Singapore's Budget Babe
Budget Babe is an ordinary lady striving to achieve financial freedom in Singapore before the age of 45. She is always looking for cost-effective ways to live a fulfilling life in amidst Singapore's rising costs, and writes in order to empower fellow Singaporeans on taking charge of their own lives and finances. The final goal is to eventually break free from the competitive rat race. Will I meet you there? ...

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