Singapore is going through a rough patch right now.
The pandemic has caused the country’s second-quarter GDP to plunge by a record 13.2%.
Sadly, along with the decline, retrenchments have spiked up in the quarter ended 30 June, more than doubling to 8,130 compared to the previous quarter.
And there could be more challenges to come as relief measures are slowly winding up, exposing businesses to the full brunt of the crisis.
With all that’s been going on, retirement may sound like a pipe dream to many.
However, the truth is that retirement is not out of reach if you are disciplined and patient with your investment portfolio.
Having a healthy savings habit is a good start, and so is maintaining a buffer of cash in preparation for bad times such as these.
Here are four things you need to know to enjoy the comfortable retirement you deserve.
