Monday, February 11, 2008

Why Singaporeans can't save enough?

Singaporeans are generally great savers

* Many of us contributed 20% of our income and additional 14.5% from the employers into the CPF.
* We purchased a whole buffet of insurance and probably at least 10% of our income.
* We have so many investment choices ranging from Bonds, Stocks, Unit Trust, Structured Products, Endowment Plans, etc
* We have a good cohort of professional Financial Planners where advice is easily available
* Our government spend to much money to educate us
* We have a good disposable income, regular employability and lots of capacity to save.

Why are we still not saving enough for retirement?
Make no sense?

I'll be putting up a series of postings in the next 1-2 weeks to analyse this problem.
Hope you can leave some short comments here for my reference in the next few postings?

(Pls do not leave any insulting comments, vulgarities or personal attacks on any individual and companies)

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