How much do I need tfor my retirement?

There would come a time when our bodies would not cooperte with us anymore and would tell us that it is our time to stop working and retire to enjoy the rest of our life that remains. Until such time comes we all strive to save enough or more for our retirement. How much money should I save for my retirement?

User comments

No Name

There are countless models you can use to calculate the amount of money you need to retire comfortably in your golden years. I prefer the 300 rule where the average amount you spend every month and multiply by 300. The rule of 300 is based on the 4% rule in retirement. The 4% rule refers to your withdrawal rate: the annual percentage amount you withdraw from your investment portfolio when you retire.

2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

Can I get my pension advance?

With that pensioners can get minimum of INR 25,000 and maximum of 5 Lakhs or 18 times of the monthly pension. There are no processing fees charged and no margin required for getting this pensioner personal loan. The loaners can repay the loan with maximum of 60 EMIs. Guaranteed with it's employer.

Retirement benefits issue

There are retirement benefits everyone should be receiving after retirement. And if this benefits were not given, a lawsuit can be filed since it is against the law. It is mandatory to give retirement benefits to the employees if the contract they signed includes this in the benefits they will receive while working in the company.

I am a retired school security guard and diagnosed with a cancer, is there any help that I could get from my former workplace?

When people are retired they tend to relax, go on a vacation or even just spend money. They do not expect to be sick. In the situations of this security guard, he has cancer. Not everyone is diagnosed with this. It is not just a simple illness that can be cured with antibiotics. It should be treated properly. If you have insurance your insurance can cover your expenses. If the contract from your formal company has written that you can still use your benefits after you retired, then you can avail that.

I am retiring soon and my pension will kick in soon

People comes to a point where they need to retire. In Singapore the retiring age is 62 years of age. They cannot retire at an early age. When you are working, you are depositing on a company that holds your money for your retirement funds. It is mostly recognized by the government. There is no need to worry when it comes to retirement. The government will help you with that

I need a surgery as soon as possible

Singapore has a lot of workers that strives to do their jobs well at the same time earn a lot of money. But at in a certain age you will retire from your work. Accordin with the Retirement and Re-employment Act (RRA), the minimum retirement age is 62 years. Your company cannot ask you to retire before that age.

Can a pension help me from being bankcrupt?

Singapore's pension system is one of the oldest and most developed national schemes in Asia. The system rests predominantly on one pillar: the Central Provident Fund, which provides for most social security functions. The Supplementary Retirement Scheme, a voluntary private pension scheme without employer involvement that enjoys tax advantages, completes Singapore's pension landscape.