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Useful rule of thumb
A common question that will arise as you plan for your later years is “how much will I need during retirement?”

It is generally viewed by financial advisers that we need approximately 70% of our last-drawn income to maintain our lifestyle during retirement. Some people may need more while others may require less for a moderate lifestyle.
 
Retirement funds a person may need
Current annual income* S$59,300
Annual income to maintain lifestyle during retirement# S$41,500
(70% of current annual income)
Years spent in retirement 17
Total funds needed during retirement S$988,000
 Figures rounded off to the nearest hundred.
 
How Singaporeans generally view ageing and retirement?
Useful rule of thumb
Making a lifestyle choice
 
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Future of Retirement
Find out what Singaporeans think in HSBC Future of Retirement global research on attitudes towards ageing and retirement.
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