Old age savings

Hubb said that he heard that in a survey done in Singapore, the average savings of someone above age 50 is only $3K. We don’t know if it includes or excludes EPF. If it includes, then it is a serious problem as how can you survive the rest of your life unemployed with just $3K savings. If it is excluding, I am not surprised. Many people don’t have savings as they spend all their monthly income. It doesn’t mean that they are spend thrift but many people really don’t make a lot of money. Whatever they earn may be barely enough for their household expenses, let alone savings. They would be lucky if they have NC health insurance.

About Shooi

Started blogging to capture thoughts and memories for my baby boy. Fell in love with blogging and now would like to blog more than just on my baby but also on my experiences as a full time working mother and wife.
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