Chuin Ting Weber, CEO and CIO of MoneyOwl, encouraged early retirement planning and CPF top-ups. The earlier you start retirement planning, the better.
She suggested that the public start by understanding their existing CPF savings and setting a target monthly income for retirement. They should also set a certain amount to invest or top up their CPF each month.
To ensure a secure retirement, she also recommends individuals aim to save a full retirement sum (FRS). This is double the basic savings, and for those turning 55 this year, the FRS is $213,000.
