Your Retirement Nest – How much do you want upon retirement?

Dear reader

If you’re a Singaporean or Singaporean PR, do log on to the CPF website and use its ‘Retirement Calculator’ to have a quick estimate of your retirement nest.

Here is the link:

http://mycpf.cpf.gov.sg/Members/Calculators/mbr-Calculators.htm

There are 4 steps and at the end of Step 4, this calculator will tell you how much you have to save per year to achieve your desired retirement nest egg and four other possible suggestions to help you achieve your goal.

You should also be able to tell if you can achieve your goals by your desired retirement age.

For example, assuming an inflation rate of 3.5% and you are 30 years young with a total liabilities of S$100,000 as of today and you want to retire at age 60 with a monthly retirement income of S$3000 to last for the next 30 years, your retirement nest egg deficit is about $2,042,505 according to the Retirement Calculator.

Do you have a savings and investment plan to accumulate this amount or whatever amount you want to achieve? Best to start NOW before it’s too late!

Time is your best friend when you’re young as it allows the compounding effect to take place to accumulate interest and returns.

The last paragraph of the web page said it best, “Planning towards retirement is a continual process. You should review your plan on a regular basis (annually or biannually) or earlier if there are major financial changes such as:

  • Changes in your retirement goals;
  • Significant changes in your savings habits;
  • Entering a new phase in your life (such as marriage, new born);
  • Significant changes in your income (especially during periods of unemployment)”

So, is it important to you that you solve this problem of assessing your current stage of financial health?

When you look into your future, what do you want to see?

How much money do you think you’ll need to retire?

How much of that do you have right now?

My job is to get you from where you are, to where you want to be. And I don’t know if I can help you or not, but if you’ll bring some of your pertinent data to a short breakfast/lunch/dinner/coffee at our mutual convenience, I’ll take a look at it.

If I think I can help you, I’ll tell you. And if I don’t think I can help you, I will tell you that too. Is that fair enough?

So what are you waiting for? Pick up the phone and call me NOW at 9231 8779 to book an appointment with me.

Alternatively, email your name and phone number to clairemh.soh@gmail.com so that we can arrange a time at our mutual convenience.

I want to help! So let me help you get your personal finances reviewed and organized today! Then we can discuss how to help you achieve your financial goals.

Grab this opportunity today to enjoy this value-add service and most importantly, you get to review how you’ve done financially over the past twelve months and make sure you’re heading in the right direction.

Isn’t your life, your peace of mind and financial security worth an hour of your time?

ACT NOW! Call me right now at 9231 8779 to book your Financial Health Review (FHR) appointment with me.

It’s free of obligation on your part, until I can add value to you. Call me right now at 9231 8779.

Thank you for reading. To your health and wealth!

Important Notice and Disclaimers:

Nothing in this material constitutes personalized investment advice. Information provided here should not be considered as advice or as an offer or enticement to buy or sell or trade.  The contents of this material, including any financial data, information, opinions and analysis, are strictly intended for educational use only.

No guarantees are made as to the accuracy of the information provided herein. You shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility.

Please consult your financial advisor or call Ms Claire Soh at 9231 8779 before investing in any investment or insurance.

Should you choose not to seek such advice, you should consider whether the investment or insurance product in question is suitable for you.

Contents © 2010 Ms Soh Ming Hwei Claire. All Rights Reserved.

Please note that you do not have permission to copy or post the contents of this blog to any web pages whether private or public.


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