Retirement is a scary affair if you are not planned and ready for it.
Many of the working generation cannot wait to retire as they are tired of seeing their bosses, handling office politics and even being a positive leader in a firm or company can be a draining ordeal.
Hence, with SRS, it is one of the many ways to increase your nest egg! chew on it!
As the old saying goes “Save for Rainy Days”. This practice is extremely important for the current economy as the diversity and evolution of the market is so radical now! We never know what is it going to be in the next 10 years. Compared to Fort Motors’ days in 1900s, 50 years later, we were still at the Industrial Age! It is different now. 3 years had passed and the dynamics of everything would have changed drastically by then. However, sadly, bad human nature and habits remained. Overspending and self indulgence are always evergreen within a human psyche. So beware!
if yes, think twice! We better start watching our spending now else we will still be flipping burgers or “yes sir, yes sir, at the counters” or “pump 6 sir thank you” by the time of age 65.
This inflation and CPF contribution situation is here to stay!
More than 70% are dependent on cash savings only? What happened to the businesses, brand loyalties, goodwill, portfolio income which all can be financial supplements for their old age? Should we start to do something different now?
The power of interest can work both ways, for you or against you!
CPF at 55 is recommended or earlier should be better when you need it more?