What Retirement On $1,000-$2,000 A Month In Singapore Looks Like

Can you enjoy retirement on S$1,000 to S$2,000 a month in Singapore? Three retired 60-somethings - a former IT professional, firefighter and salesman - share what life after retiring is like, and how they built their nest eggs.

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On a budget of about S$2,000 a month, Phua Foo Guan leads an active lifestyle going running, stair-climbing, playing table tennis and travelling. He once made a 30-day trip to Beijing, Siberia, Moscow and St Petersburg on a carefully-planned budget, and has also been to Cuba, Mexico and Alaska with his wife. He has been saving in cash and CPF since young, and investing his money over the years.

After working hard and scrapping by to put his four children through university, former airport firefighter Mohd Amin now enjoys time with family and friends - a modest lifestyle that requires only some S$1,000 a month. Downgrading from their 5-room to a 2-room HDB flat helped ensure a comfortable nest-egg.

Patrick Lee, who is single, found more time in retirement to care for his mum who has dementia. His budget of S$1,200 a month lets him take regular short holidays to Vietnam or Phuket, and indulge in cooking for friends or champagne brunches. His retirement income includes unit trust dividends and cash from renting out a room in his HDB flat.

To start planning for your retirement, visit https://cpf.gov.sg/BeReady

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