The CPF changes announced during Budget 2024 have been receiving a range of opinions on the ground as Singaporeans who had “Special Account shielding” on their minds, question their next steps when it comes to retirement planning. Given the unpopular opinions, is this the right move to make for the primary purpose of the CPF? What do these changes mean to you as a young accumulator or a near-retiree?
In this week’s Money Wisdom episode, our CEO, Chris, encourages us to dig deeper and to ask ourselves what the original intent was for the monies left behind in our CPF balances after turning 55, should these changes not have been announced in the first place. That would give us a good idea of the next steps to take.
You may also enjoy the video version of this podcast here:
You can read Chris’ article in The Business Times on this topic here.
Also, stay tuned for our next podcast episode, where we will be going through a client case study!
Music courtesy of ItsWatR.
The host of this episode, Jin Lee, is an Associate Adviser at Providend, the first fee-only wealth advisory firm in Southeast Asia and a leading wealth advisory firm in Asia.
The full list of Providend’s Money Wisdom podcast episodes from Season 3 can be found here.
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.
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.
For more related resources, check out:
1. Should You Buy Retirement Income Products?
2. Providend’s Money Wisdom Podcast S2E5: 4% Rule, Dividend Investing, RetireWell™ – Which Spending Strategy Is Best for Retirees?
3. RetireWell™ Part 1: Drawing Down Retirement Money
Let us assist you in taking care of your financial concerns so you can focus on what matters to you. If you would like an honest opinion on your current financial/retirement plan, insurance portfolio, investment approach and/or estate plan, make an appointment with us today.
