Friday, 17 March 2017

5 things Singaporeans must have

By the time they’re 50

“How much do I need to retire?”

That’s the question that makes financial advisors and wealth managers sigh. It’s impossible to answer because it can range from a few hundred thousand dollars (three meals a day and a one room flat) to the GDP of a small country (I want a yacht, two helicopters, a penthouse). So while no one can give you an exact number, we can at least point out a few guidelines.

Here are the things you should have by 50:

  • No more debt besides your mortgage
  • Saved up around four times your annual salary
  • A more defensive portfolio
  • A will or trust
  • Clear rules on supporting your children/grandchildren

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