Friday, April 04, 2008

Personal savings for retirement

Hi Mr. Tan Kin Lian
I enjoyed your blog. My friend told me that the savings in CPF is not sufficient for retirement needs. I have to supplement it with personal savings to be invested for my retirement. What is the amount that I should save? How is this computed?

I usually advice people to save 10% to 15% of their regular earnings for the future. This should be invested in a low cost fund, preferably an equity fund to obtain the best return.

This is explained in this FAQ:

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