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…
So you worked hard all year in your job and your manager is happy with your performance. Your reward at the end of the financial year as an employee, will be a monetary reward like a performance or year-end bonus. Congratulations! In the current economy, the extra dollars can be hard to come by and…
“Am I ready to retire?” This is a question that many people ask themselves when they are thinking of quitting a job and wishing to travel the world for the rest of their life. When I say ‘them’, I’m kind of referring to me. 🙂 The Rule of 300 The Rule of 300 is basically…
The Government and Monetary Authority of Singapore (MAS) are planning to introduce Singapore Savings Bonds (SSB), a new type of bonds to help individual investors get a better return on their savings. “In short, the Singapore Savings Bonds will offer the higher returns of a long-term bond and give what investors call a term premium,…
As I started planning for my retirement, I began to pay attention to how our Central Provident Fund (CPF) system works for retirees. As retirees reach the age of 55, CPF allows them to withdraw $5,o00 and transfers the rest of the money from their Ordinary Account (OA) and Special Account (SA) to their Retirement Account…
Over the past week, the local media has been giving bite-sized news about what’s going to be announced in Singapore Budget 2015 plan and today, the Deputy Prime Minister and Finance Minister, Tharman Shanmugaratnam gave the speech to give the full details about Singapore Budget 2015 on local television. I didn’t really care much about…
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