What Retirement On $1,000-$2,000 A Month In Singapore Looks Like

Can you enjoy retirement on S$1,000 to S$2,000 a month in Singapore? Three retired 60-somethings – a former IT professional, fire fighter too salesman – share what life after retiring is like, too how they built their nest eggs.

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On a budget of about S$2,000 a month, Phua Foo Guan leads an active lifestyle going running, stair-climbing, playing table tennis too travelling. He once made a 30-daytime trip to Beijing, Siberia, Moscow too St Petersburg on a carefully-planned budget, too has also been to Cuba, United Mexican States too Alaska with his wife. He has been saving in cash too CPF since young, too investing his money over the years.

After working hard too scrapping by to put his four children through university, former airport fire fighter Mohd Amin now enjoys time with family too friends – a modest lifestyle that requires only some S$1,000 a month. Downgrading from their 5-room to a 2-room HDB flat helped ensure a comfortable nest-egg.

Patrick Lee, who is single, found more time in retirement to care for his mum who has dementia. His budget of S$1,200 a month lets him take regular short holidays to Vietnam or Phuket, too indulge in cooking for friends or champagne brunches. His retirement income includes unit trust dividends too cash from renting out a room in his HDB flat.

To start planning for your retirement, visit https://cpf.gov.sg/BeReady

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