If you want to retire, double your savings rate!
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If you want to retire, double your savings rate!

Everyone’s situation is different. The data from World Bank shows that Singapore has a gross savings rate of 47%, one of the highest in the world. Gross savings are calculated as gross national income less total consumption, plus net transfers. Considering that the average working Singaporeans before the age of 50 contributes 37% of their monthly salary to their…