Most people need personal savings to supplement the CPF savings. You should set aside at least 10% of your earnings as savings for the future. If possible, the saving rate should be increased to 15%.
A saving rate of 15% over a working career of 40 years can provide income of about 40% of the pre-retirement income, with some regular adjustment to compensate for inflation. This will be sufficient to give a comfortable standard of living to the retiree.
Look for an attractive rate of return on your personal savings. Many insurance and investment products that are currently provided in the market do not give an attractive return.
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