Do you know how to accumulate wealth for your retirement in Singapore? Well it depends on three factors:
1. How long before you are going to retire?
2. What is the rate of return for your investment?
3. What is the expected amount of money you want to have on your retirement?
Singaporeans are expected
to retire at 62 and assume that you start to accumulate your retirement fund at the age of 30, you will have 32 years to do so. In short,
If you start earlier, you will have more time to accumulate your wealth.
The annual rate of return will
largely depend on the risk appetite of the saver. 6% is considered conservative, 9% moderate risk and
12% high risk.
Your expected future wealth will be the sum you need for your chosen life style after retirement.
Now just key in the boxes provided and click submit to get the monthly sum you need to save in Singapore!
Yearly Wealth Accumulation at the beginning of the year