Steps for an Idyllic Retirement

Everybody here in Singapore wishes for an idyllic retirement. Thankfully, we can make this happen if we start young. This is not something that we can leave to fate or to the government. Idyllic retirement entails a lot of planning and making it happen.


Other people believe that planning for retirement can be postponed but that is where they are wrong. As much as possible, we have to start young so we can do a lot of things and ensure that bright days are ahead. Here are some steps that we can consider so we can have our idyllic retirement in 40 to 50 years from now:

  • Put aside 10% of our income for retirement: We are not keen on saving for our future because we are enjoying the present but we should at least put aside 10% of our income for retirement. If 10% is a big amount, we can start little say 2%.
  • Focus on our earnings potential: If we cannot make a lot of money, we have to focus on our earnings potential and increase it. We can do this by completing certifications, advanced degree and good experience.
  • Invest aggressively: According to financial experts, we should have at least 80-100% of our portfolio financed in equities. Even if we lose money, we can still cope up because our stocks and other investments will grow more in time.


  • Automatic deposits: If we want a long-term savings, it is best to set up automatic deposits. This means that our banks will automatically deposit a certain amount to our account so we do not miss it.
  • Set up health allowances: We do not want to spend all our retirement money for staying healthy in the future therefore it is important that aside from retirement savings, we have health allowances. We have to remember that health concerns will be the biggest financial issue we will encounter when we retire.
  • Look for retirement plans: There is definitely a plan for everyone. It is just a matter of looking for it and making it happen. For the information of everybody, there are many life plans here in Singapore which pay dividends on top of pension funds.

At the end of the day, the key here is to start early. Retiring without a penny here in Singapore is difficult so we have to ensure our future and the future of our family. Do not put off retirement because time flies. The next thing we know, we have grandchildren and retired.


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