(For more info on LBS, please check out https://www.hdb.gov.sg/cs/infoweb/residential/living-in-an-hdb-flat/for-our-seniors/lease-buyback-scheme).

In the next article, we will be covering the second Must-Have in Retirement – your monthly income for retirement. Stay tuned.

This is an original article written by Eddy Cheong, Chief Advisory Officer of MoneyOwl, Providend’s associate company. Providend and MoneyOwl have a shared financial planning philosophy.

[1] Source: HDB data dated 24 Apr 2018, https://www.hdb.gov.sg/cs/infoweb/various-options-for-seniors-to-monetise-hdb-flats

[2] http://www.hdb.gov.sg/cs/infoweb/img/top-up-worked-example.jpg;wa54c8c9d1c6f02b4f

[3] This amount is estimated from the CPF LIFE Estimator. Mr Lim is estimated to receive $$126 to $133 monthly and $29 to $31 monthly for Mrs Lim.