Retirement planning in Singapore
Retirement planning for expats in Singapore is extremely important – you don’t need to be a financial expert to know why.
Retirement by definition, means the end of a primary job. For most people that is also the end of their primary source of income. Decreased income during old age can have very unfavourable implications. This is a stage of life where one might require frequent medical care, which we know can be expensive.
It would be safe to say that retirement in any case is a tough stage of life, but with proper planning, it can be better at least financially. Investing in a retirement plan at an early age will allow your investment enough time to grow so that you can reap bigger payouts when you need most during retirement.
How to plan for retirement
The goal of retirement planning should be simple – maximising your income potential and minimising risks. Your retirement plan should not eat away at your present income and it should also provide enough cover later for you to live comfortably during your retirement years. The right retirement plan really depends on your circumstances, needs and expectations.
To get started on your retirement planning, speak to one of our advisers today.