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Is saving money part of your resolution this year?

We know that the rising cost of living is a constant worry for us all. So, this March, let’s take a look at What Singapore Thinks about retirement planning and how it helps us to cope with the rising costs!

Cost of Living in Singapore

For starters, we found out what Singaporeans’ satisfaction levels are when it comes to their financial status.

Generally, Singaporeans become more contented with their financial status as they grow older. Like cheese, it gets better with age!

And one way to achieve a higher level of financial satisfaction when we grow old is to plan for retirement early!

However, a vast majority of Singaporeans aged 54 years and below have yet to start retirement planning. What are their reasons for doing so?

Furthermore, 56% of Singaporeans are not familiar with Singapore’s financial retirement schemes.

It’s high time we start reading up about them so that we are well-informed on ways that can help better manage the rising cost of living and to retire comfortably.

Ultimately, the amount to save depends on your desired retirement lifestyle and spending, so it’s always good to start planning early!

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