AIA Singapore recently polled 1,000 households in Singapore on the issue of retirement.
Unfortunately, the results were not flattering.
Around one in five of those in their 30s and early 40s had no clue as to how much they would need after they stop working.
As a result, most of them only set aside S$250 to S$500 in cash every month for retirement.
If you do the math, you will find that this sum will fall woefully short as you will end up with just S$30,000 to S$60,000 in 10 years.
The key problem is that many are unaware of how much they need when they retire.
“Retirement” itself is often misinterpreted and we need to put in some work to be able to enjoy our golden years.
It’s important to remember that in this phase, expenses are still ongoing while your stream of salary dries up entirely.
So, don’t be caught unprepared.
Around 20% of those surveyed had no idea how much retirement will cost them in monetary terms.
Don’t be part of that statistic.
Do ensure that you do your sums and have a retirement plan mapped out.
Start allocating more money to your savings to build up an adequate buffer.
And of course, don’t forget to invest your money in great companies to enjoy compounding and an ever-increasing stream of dividends.
Here is a list of our top articles for the week.
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4. 3 Singapore Stocks Growing Revenue at Over 25% Year on Year
Here are three Singapore companies that managed to grow their revenue by more than 25% year on year despite tough economic conditions.
5. How You Can Build a Robust Portfolio of Dividend Stocks
Building up a stream of passive income helps you to control the world’s most valuable resource: time. Here’s how you can do this effectively.
6. Recovery Stocks: Is it Time to Buy Hospitality REITs?
As the world gears up for a sustained recovery, is it time to take a second look at hospitality REITs?
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8. 10 Lessons from Owning Google Shares for 10 Years
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9. Temasek Will be AEM’s Largest Shareholder: 5 Things Investors Should Know
AEM Holdings (SGX: AWX) has announced that Temasek Holdings will take a stake in the company as part of a private placement of shares. Here’s what you should know about this transaction.
10. SGX Reports a Downbeat Set of Earnings: 5 Highlights from the Bourse Operator’s Results
Bourse operator Singapore Exchange Limited (SGX: S68) reported a year-on-year decline in net profit. Here are five other aspects of the group’s latest earnings that you should know about.
11. Can StarHub Continue to Pay Out Healthy Dividends?
Telecommunication company StarHub Limited (SGX: CC3) has faced tough challenges during this pandemic. Can it continue to pay out consistent dividends?
12. Saving for Retirement: 1 Simple Step to Generate Passive Income Each Month
Are you planning for your retirement? Here is one simple method you can use to increase your monthly passive income flow.
13. The 3R Strategy of Finding Your Next Winning Stock
Trying to locate your next winning stock? The 3R strategy can provide you with a framework to locate such companies.
Here are 5 cash-rich companies so healthy, they can pay you dividends for life. The names of these SGX stocks are in our special FREE report. Download it here and start building your dream retirement portfolio today!
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Please refer to the individual articles for stock ownership disclosures.
