Even Singapore's high earners worry about whether they will have enough in retirement. Source: The Business Times, March 2026.
Read the full article →Most people either guess at a retirement number, or they pick something that sounds safe without really knowing why. Neither tends to hold up when retirement actually arrives.
The honest answer is that there is no universal number. What retirement costs depends entirely on how you live and how you want to live.
Start with your actual life, not a formula
Look at what you spend today. Then ask two questions. Which expenses disappear when you stop working: commuting, work lunches, mortgage payments if cleared? And which ones go up: healthcare, travel, helping your children or grandchildren?
For most people, healthcare is the one that catches them off guard. It feels manageable early in retirement, then becomes the dominant cost as the years go on. Building a specific buffer for healthcare is not optional. It is one of the most important things you can do.
What CPF LIFE actually gives you
For many Singaporeans, CPF LIFE is the foundation. At the Full Retirement Sum of $220,400 (2026), the Standard Plan pays around $1,780 a month from age 65. At the Enhanced Retirement Sum of $440,800, that rises to about $3,440.
For a single person living simply, $1,780 is workable. For a couple, or for anyone who wants more than a basic lifestyle, it likely will not be enough on its own. The gap between what CPF LIFE pays and what you actually need is exactly what the rest of your financial plan should be built around.
The number most people get wrong
Most people plan as if retirement lasts 15 to 20 years. But Singaporeans are living longer. A 65-year-old today has a good chance of reaching their late 80s. Planning for 25 to 30 years is not being pessimistic. It is being accurate.
The longer your retirement runs, the more important it becomes to have income that keeps up with inflation and capital that does not run out before you do.
The families who plan well are not necessarily the ones with the most money. They are the ones who started the conversation early enough to do something about it.
The bottom line
There is no magic number, but there is a method. Work out your real expenses. Factor in healthcare and inflation. Think honestly about how long your retirement might last. Then look at the gap between what CPF LIFE provides and what you actually need.
That gap is the conversation worth having. We are happy to be part of it.
Worth mapping out
If you would like to work through what the numbers actually look like for your situation, we are happy to help.
Worth a conversation