Personal Finance
How to Help Your Parents If They Don’t Have a Retirement Plan
By ValueChampion  •  November 17, 2023
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Many Singaporeans think that their CPF savings are enough to tide them through retirement but the reality could not be further from the truth. Especially if your ageing parents are self-employed or homemakers who do not regularly contribute to their CPF Ordinary Account, chances are, they may not have a nest egg to ensure a comfortable retirement. If your parents are not on top of their retirement planning, perhaps it is time for you to help them build up stronger reserves that allow them to feel more secure during their golden years. Here are some methods to help your parents build sufficient funds in their CPF Retirement Account by the time they turn 55.

Related: 6 Retirement Planning Mistakes To Avoid

how much you need to retire
Source: Pexels

1. Assess How Much Your Parents Need To Retire in Singapore

Retirement planning requires an honest look...
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By ValueChampion
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