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How to retire comfortably in Singapore ….
Like many Singaporeans, growing old scares me. Based on statistics, in 2018 Singaporeans have an average life expectancy of 84 years. But, as the chart below shows, assuming a linear projection, our life expectancy increases by approximately 0.3 years every year. As such, in 2031, when I reach my retirement age, my life expectancy at that point in time will be 87 years. This is however the average and, given that healthcare science and technology continue to develop adding to our lifespan, I suspect that many of us will live to 100.
What this means is that my CPF, and my savings and investments will need to support me for no less than 38 years. Not a simple feat as the cost of living inevitably rises. While I can continue to work beyond retirement age, this is contingent on my having the relevant knowledge and being able to add value to my employer. What is clear to me is that like many Singaporeans, I will need passive income to live on.
Dividend Investing
In recent years, dividend investing is gaining popularity as a source of retirement income for Singaporeans. This is largely because…
