Some of us may find it difficult to set aside a lump sum of money for our retirement. There may be other financial obligations such as housing loans and family expenses to take care of first.
However, it is possible to begin your retirement planning with small steps. You can contribute a small sum regularly to an investment or an insurance plan. Over time, these contributions can grow to a significant amount.
You may also choose to pay your insurance premiums regularly, say on a monthly basis, so that it is more affordable. The monthly premium for a S$200,000 sum assured whole-life plan works out to only S$190*.
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