Everything that you want for your golden years will be within your grasp if you put enough thought into retirement planning.
Financial security is the key to a worry-free retirement. To be financially independent, you need to plan carefully and start saving early so your money works harder for you.
A realistic retirement plan is important. To be better-prepared for your retirement, you need to:
- start retirement planning early to take advantage of the effects of compounding.
- make use of the Supplementary Retirement Scheme (SRS). You also benefit from tax relief.
- participate in CPF Life to cater to your basic retirement needs.
- seek investment growth to combat inflation.
- create a regular stream of income through investment and insurance.
- ensure comprehensive medical coverage at retirement through Medishield Life, Eldershield and private insurance schemes.