Contributed by Grace Ang, Financial Advisory Manager, Financial Alliance Pte Ltd
(The contributor can be contacted at firstname.lastname@example.org)
The research report on “What older people need in Singapore: A household budgets study” was released in May 2019. It has derived a budget of $1,379 per month for a single elderly to meet the basic standard of living. This generated much interest and discussions, especially on whether $1,379 per month is sufficient for one to live on during retirement.
I would like to share some of my thoughts.