For many, retirement seems like an end goal that is never in sight. Many are still struggling with monthly household and emergency expenses for their children and parents. And so, retirement planning is placed as the least of their priorities. However, it doesn’t matter if one plans for retirement or not, retirement will surely come…
Retirement planning is a crucial aspect of financial management that often requires careful consideration and strategic decision-making. Yet, it is hardly a priority for many, until when it might be too late. According to an article published in Business Times (source: https://www.businesstimes.com.sg/wealth/science-behind-why-we-are-bad-saving-retirement), 3 in 4 of those polled, planned to start retirement planning at the…
In today’s fast-paced world, it’s easy to get caught up in immediate financial concerns and overlook the crucial task of planning for retirement. However, recent studies reveal alarming statistics that highlight the urgent need for Singaporeans to prioritise their retirement planning. The Retirement Reality Check A recent HSBC Quality of Life report uncovered some startling…
The recent CPF changes in 2024 present both opportunities and challenges for retirement planning in Singapore. Here’s the summary list of the key changes. 1. Increased CPF Contribution Rates for Senior Workers From January 1, 2025, the total CPF contribution rates for employees aged 55 to 65 will increase by 1.5 percentage points. This change…
Retirement planning can seem like a daunting task, especially in a fast-paced, high-cost environment like Singapore. Many Singaporeans find themselves facing significant challenges when it comes to preparing for their golden years. However, with the right approach and some small, manageable steps, you can set yourself on the path to a secure and comfortable retirement….
For many people, retirement planning seems complex and thus difficult to even think about. In some cases, they are also unsure of the amount they will need at retirement. For those who had worked out a number, they might think that the amount could be inflated. For others, in lieu of accumulating for a lump-sum…
Let’s be realistic for a moment. When you no longer work in a full-time job, you will still need to pay the bills. Moreover, the next thing you will feel is emptiness. Most new retirees will schedule activities to keep themselves occupied. It is very likely that the first phase of retirement, you will still…
As I look back on my investment journey, I thought about the key lessons I learnt along the way. To demystify investment and investing, here’s my top 10 tips I’ve filtered to guide new investors to a more positive investment experience. #1 Your Money Psychology I find that this is often not emphasized enough. When…
“Sedikit-sedikit lama-lama jadi bukit.” This was the first Malay proverb I came across in my teens. And it made all the sense while I was growing up. But common sense is not common practice. And investing is one of them. We all know… at school, regular revision makes it easier to score better in exams….