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Hey There,


Why is financial retirement planning so important? According to an article written by the Straits Times in August 2018, with the life expectancy of Singaporeans increasing to 83, about 67% of parents are convinced that they will not have enough money saved up to last through their retirement*. Whether you are just starting out, or are getting closer to your golden years, here are four retirement Do’s and Dont's to ensure that you won’t outlive your retirement savings.

Don’t underestimate your retirement needs 

When you retire, how much would you potentially need in a month? Would you want to maintain the same quality of life, or even surpass that as you enjoy your retirement? These are the questions you should realistically answer as you’re planning your retirement budget.


Don’t forget to factor in inflation and add additional frills such as travel – and take note of the depreciation of assets. One reason people outlive their retirement savings is because they underestimate their retirement needs. Always overestimate if you have to, never underestimate.

Do diversify your investments

Based on your calculations above, you know approximately how much you’re going to need for retirement. Strive to supplement this figure with additional retirement savings of your own such as the Supplementary Retirement Scheme and other forms of investment assets.


Your investment plan should also reflect your age progression. In your 20s to 30s, you can take higher calculated risks in exchange for higher returns (eg. trading on the Stock Market), and long term investments (eg. property purchases). And as you near retirement age, your portfolio should lean more conservatively. Restructure your high-risk investments to low-risk guaranteed returns, such as a insurance policy that promises a yearly income.

Start saving early

As the saying goes, ‘make your money work for you’, and take advantage of compound interest early on. Saving early puts you at a tremendous advantage. One way to make your money grow even faster is through a Fixed Deposit, as these typically provide higher interest rates compared to an average savings account.

Don’t forget your health

Our health and medical needs greatly increase as we mature, as our bodies start to wind down slowly. Prepare yourself by investing in health insurance that covers medical fees not only limited to accidents. Take it a step further by considering an all-in-one type of insurance policy, where you receive insurance coverage, partial savings, potential investment returns, and a guaranteed yearly income. Be prepared – the last thing you want is for an unexpected hospital bill to get in the way of your Retirement plans.


Retirement is the ideal time to pursue your dreams and everything you were unable to do in your youth. With some proper planning, you won’t have to wake up worrying about running out of cash in your old age.



Yours Truly,




Important Notes & Disclaimer



This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy amongst Singaporeans. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions that will improve everyone’s well-being. This in turn, achieves CIMB’s purpose of advancing customers and society.