1. For the extra 1% interest, how do they divide the interest on $40,000 between SA and RA? CPF allocates based on the precedence of RA-OA-SA-MA. If you are currently after 55 years old, and you have RA, that takes precedence. If you are before 55, it will go to OA (20k) then SA, then…
The first stage is the accumulation phase- To invest with a healthy growth target, given one’s risk capacity.
The second stage is the withdrawal phase- To generate a reliable stream of income every month for the rest of your life.
Accumulating for Retirement
It is not easy to make retirement planning a priority when other financial goals—buying a first home, for example, or saving for a child’s education—appear more pressing. But the sooner a plan is put in place, the more effective it can be, thanks to the magic of compound interest.
As you plan to save for your retirement, there are many ways in which this can be achieved, namely investing, monetising your property, CPF and SRS etc. We will guide you throughout your working years by providing time-tested and holistic financial solutions built on meeting your desired lifestyle goals.
With the diverse expertise of our team, the experience we have gained over the years in financial markets and in sitting on national pension scheme panels, you will then receive a financial plan, crafted with empathy and unmatched financial knowledge.
Drawing-Down in Retirement
Retirement today is more than just a matter of accumulating enough money. Increasing life expectancy has made retirement an extended stage of life.
In the near two decades that we have worked with retirees, we understand one thing: Reliability of income is more important than return on investment at this phase of your life. As such, we have developed a proprietary methodology called RetireWell®, that can help you draw down strategically from your retirement nest egg.
Our Retirewell® methodology was featured in The Business Times every month for almost a year in 2017 and has 11 parts to it, namely:
• Part 1: Drawing Down Retirement Money
• Part 2: Offering Retirees Security and Peace of Mind
• Part 3: Low Cost, Consistent Results
• Part 4: Counting on low-cost Index Funds
• Part 5: Investment Philosophy for a Retiree Client
• Part 6: Ensuring a ‘Safe Retirement Income Floor’
• Part 7: Remain Invested Over the Long Haul
• Part 8: Purpose-Driven Retirement Planning
• Part 9: A Tale of Two Retirees And Their Fortunes
• Part 10: Stock Markets Always Rise Over The Long Term
• Part 11: Retirement – It’s About The Kind Of Life You Want To Lead
With Retirewell®, we will design a plan that will give you a safe and reliable stream of income for the rest of your life, with provisions for legacy in the event of demise, so that you can live up your retirement with peace of mind.
Life is complex. Your financial life is even more so, especially with so many financial options and investment opportunities to choose from. Take uncertainty out of the equation and tap into the wealth of specialist expertise within our team spanning the financial planning, investment management, estate planning and insurance spectrum.
Before engaging us for our services, we offer a complimentary, no obligation initial meeting where we can chat about where you’re currently at, where you would like to be, and what might be keeping you up at night. We will give you our honest feedback regarding our ability to help you achieve your objectives and address the financial challenges you may be experiencing.
Let us help you take care of what’s important so that you can focus on what matters most to you.
Providend was founded and established as the first Fee-Only Financial Advisory firm in Singapore by Christopher Tan in 2001 and licensed in 2003. As a boutique-sized, professional practice firm, we are widely quoted in publications and the media for our expert opinion on financial matters. Learn more about us and our advisory fees here.
Learn More About Retirement Planning
Pre-order a copy of “Money Wisdom – Simple Truths For Financial Wellness” at https://www.providend.com/money-wisdom-order/ today! Written by Christopher Tan, CEO of Providend, this book is a compilation of broad and penetrating insights over the past twenty years. It includes content such as risk mitigation, insurance planning, retirement planning and personal finance, all of which are…
There are two distinctive phases for retirement planning- Accumulation and Withdrawal. However, many of us tend to only focus on the accumulation bit pre-retirement and often neglect the withdrawal bit post-retirement. Watch this short video as Christopher Tan, CEO of Providend, explains the importance of having a good withdrawal strategy during your retirement to ensure that…
In a world with so much geopolitical issues and uncertainty, retirement seems to be a scary subject to think about. Retirement planning during withdrawal phase is more complex because retirees face the following risks in retirement: Longevity risk – the risk of money running out before you do Inflation risk – the risk of decreasing…
In my last 2 parts, I shared the need to initiate a conversation with your other half and to take actions as soon as possible. In this final part, I hope to touch on the topic of children. After becoming a father myself last year, I experience firsthand how my daughter becomes the centre of…
In the previous article, I shared that by starting the conversation about finances and retirement planning with your other half allows both of you to think about your desired current and future lifestyle. More importantly, how you can balance your finances to enable you to achieve the lifestyle you want for your family. As parents,…