Many people want to retire but they do not know how much money they really need after they stop working.
Here is a handy retirement calculator to help you work out the amount you’ll need to maintain your lifestyle and plan your retirement in Singapore.
Please note that inflation is not included in this simple calculator and you are encourage to find a certified financial planner to discuss further.
The average lifespan of a male is 83 years old and for female it is 85 years old.
The Retirement Age and Re-Employment age in Singapore will be raised to 63 and 68 respectively on 1 July 2022.
There is more to discuss when you are planning for your retirement. There is no one size fits all.
If your current career is not giving you the ideal annual income or you are not able to save enough money, then you need to start thinking and look for alternative.