It is ideal when you want to: Know more about Premium Currency Investment >>. You may decrease your post-retirement expenses if: You want to sell your current home and move to a smaller space since all your children have moved out, Mortgage, which is a large part of your current expense, will be paid off when you retire, You don’t need to support your children / grandchildren after you retire, This calculator and graph is intended to provide estimates only. This will supplement your monthly requirement when you retire and you should aim to achieve the BRS at the minimum. We want to retire early and comfortably, but don't know how to get there or are unsure if we can get there. the safest, Annual interest rate/ return on investments of about 5% (eg. Assuming you were to join the norm, here’s how much you need to save each month. If you have the Basic Retirement Sum (BRS), of $83,000, in your Retirement Account by age 65, you will receive a monthly payout between $700 and $750. You can also factor this into your calculations for how much you will need to save toward your retirement. SCBSL makes no warranties, representations or undertakings about the Third Party Website. How much faster can I reach my target if I save $Z in the bank, or invest in stocks, or bonds, or fixed deposits? Africa, United Download the calculator from the link above and input your details to account for your current financial status as well as your ideals. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit. And you can always contact us if you need some help. November 2020 HDB BTO Sales Launch: Location Guide – Sembawang, Tengah, Bishan, Tampines, Toa Payoh (Bidadari), 5 Reasons Why Singapore’s Property Market Is Heading For A Bull Run, Why DBS Multiplier 4.0 Is Now The Perfect (High-Interest) Savings Account For Students, NSFs & Retirees, Should You Make Lump Sum Top-Ups Or Regular Contributions For The CPF Retirement Sum Topping-Up Scheme, Here’s Why You Should Top Up Your Parents’ CPF Retirement Account Instead Of Giving Parents’ Allowance, 5 Factors To Consider When Choosing A SIM-Only Mobile Plan During Work-From-Home, Here’s Why 2020 Could Be The Best Time To Start A Business, Government Grants Available For Nightlife Businesses To Pivot Or Wind Up Operations, 5 Ways The Tripartite Workgroup For Lower Wage Workers Intends To Raise Salaries, Guide To Understanding Your Tax Obligations As A Self-Employed Individual, Trump Out; Biden Is The Next US President: 5 Things Singapore Business Owners Should Look Out For, Should Businesses Start Looking For New Office Space Now? month instead. As the saying goes, “The best time to plant a tree was 20 years ago. - the average life expectancy for Males is 81 years old on average and 85 years old for Female for Singapore Many people underestimate how long they will live in retirement, they may find themselves having not enough during the retirement years Therefore, it is important to plan now and adapt a systematic approach to retirement planning. This means that your employers cannot ask you to retire before that 62 and re-employment must be offered … Fret not, ask our community here! This will also mean that people may choose to continue working and earning even past their retirement age. There is a wide range of investment products for you to choose from. No min. You can if you prefer adjust the life expectancy on below slider. They include : This is the annual compounded rate of return that you would expect from your investments, before taxes. 201224747C, Brunei You are now leaving the Standard Chartered Bank (Singapore) Limited (“SCBSL”) website to access a third party website ("Third Party Website"). Through this output, you will know what purchases can you afford to make and what kind of retirement are you able to enjoy.

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