Women face greater financial long-term risks than men due to several factors. These factors include having a longer lifespan, needing to pay for medical expenses, loss of spouse, and gender pay gap. Senior Wealth Advisor Sandy Higgins highlighted: “There are varied reasons for this gap, but what holds true are the statistics and cumulative impact of this on retirement savings.” While the difference between the wages of men and women do not seem large to many, the results can be
Retirement may make it tricky to adjust to life in general, notably if you have always been on a tight budget. You don’t automatically have to stop paying your bills and keep up with house maintenance just because you’ve entered the next phase of life. In fact, it’s more crucial now than ever to allocate additional expenses for outings to the country club or for relaxing holidays. Now’s the perfect time to employ your knowledge in personal finance if you’re
Starting a family requires careful planning. With a clear idea of what it entails and the schemes available to help ease new parents’ financial load, you will be able to embrace one of life’s greatest blessings. As you allocate your budget, you must consider both your childcare expenses and your retirement fund. Prioritizing these two is easier said than done. A 2021 study by AIA Singapore revealed that young families in Singapore have deprioritized planning for their retirement to give
Do you know that though CPF members’ total balance has increased from roughly S$125 billion in 2006 to S$474 billion in March 2021, only 63.6% of active CPF members who turned 55 could set aside their Full Retirement Sum (FRS) or Basic Retirement Sum last year? Hence, to better understand Singaporeans’ attitudes towards retirement, Endowus has worked with YouGov Singapore to develop the Endowus Singapore Retirement Report 2021. The survey took place in May this year with a sample size
Whether you’re young or old, it’s never too early to start thinking about saving up for retirement. After all, it’s the best way to guarantee a comfortable life after you cross that critical stage. However, you must start planning to make sure everything gets taken care of. Even though it might seem scary at first, have no fear. By reading this article alone, you’re already making that crucial first step. It takes dedication and discipline to get where you want
