Category Archives: Retirement Planning

Articles written on retirement planning.

Buying Life Insurance Policies as a way of diversifying investment portfolio

Recently, I decided to take up a whole life policy with OCBC. This product is called Premierlife Generation II administered by Great Eastern Life (GE). It is a single premium policy paid upfront. It provides guaranteed cash survival benefits from … Continue reading

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How much will you be getting on CPF Life?

This question can be answered by referring to the CPF Statement for 2018. CPF members would be receiving their statements via the post or by eStatement if they have opted for it. It tells me that I am on CPF … Continue reading

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Interest income on CPF balances – 2018

Interest income on CPF balances for the year-end of 2018 was already updated. Interest income on my CPF balances (OA + Medisave + RA) averaged 3.77% per annum for 2018. Year Interest rates 2013 3.20% 2014 3.19% 2015 3.13% 2016 … Continue reading

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When can you start to withdraw from Supplementary Retirement Scheme?

Withdrawal from my Supplementary Retirement Scheme (SRS) without 5% penalty will kick in when I reach statutory retirement age of 62 years old as at 1 April 2020 (next year). The withdrawal period is every financial year from 1 April … Continue reading

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Sources of income to pay for expenses

Now that we know what the expenses are like. The next question is where to get the money to pay for them. If you are still working, the major source of funds is your salaries and wages. If you are … Continue reading

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Ways to reduce expenses or spending

The approach is to spend on necessities but cut out on the nice to have. For a number of years now, I have been finding ways to do that. First, I resigned from almost all professional bodies except to keep … Continue reading

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You thought you could cut back on spending on retirement?

I find it difficult. We are into 11th month of this year and I have already surpassed last year’s total expenditures for the family. I tracked major expenditures as I paid them or incurred them. This is just for the family. … Continue reading

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Fears of Retirement

With Singapore’s life expectancy rate of 83.3 years, assuming if one retires at age 67 years old, he has 16.3 years of life in retirement. However, if another wants to retire at 62 years old, then he has 21.3 years … Continue reading

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Parents can offer advice on retirement planning

We often hear about vulnerabilities of parents when come to retirement planning. Children are encouraged to top up their parents’ Central Provident Fund (CPF) accounts so that they could draw down more in their silver years. This is well and … Continue reading

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Can I still withdraw Cash from CPF Ordinary Account when I turn 65?

Some people were of the opinion that when a person reaches 65 years old, his money in his Ordinary Account (OA) will all be transferred to his Retirement Account. From then on, he would not be able to withdraw lump sum … Continue reading

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