Start small and sow the right seeds to make your wealth grow

Sowing the seeds for a comfortable retirement

To retire with ease, follow these simple steps to start your financial plan for your retirement.

Step 01 - Start
Don't delay further, start now

Grow your savings over a long horizon through a regular savings program that offers an acceptable rate of return based on your risk appetite.

Step 02 - Plan
Make a plan, start saving

Small amounts count too. Do not spend more than you ought to. This will ensure that you can set aside some money for savings. Aim to set aside 20-30% of your monthly income.

Step 03 - Target
Set a target, visualize your retirement plan

Consider thinking over these:

Define your retirement

When do you expect to retire?
How long do you expect to be in retirement?
How do you see yourself spending your time?
Do you plan to retire in Singapore, with whom & what would you be doing?

Take stock of your assets

Do you own any properties or have any outstanding debt?
How long do you expect to be in retirement?
How do you see yourself spending your time?
Where do you want to live, with whom and what would you be doing?

Evaluate your Health

Do you have any medical conditions that may worsen over time?
Will your current lifestyle affect your health?

Create a Retirement Budget

How much money do you want to live with?
How much will you need to live comfortably for as long as you want to?

Trim unnecessary expenses

Challenge yourself to save more money than you currently are by trimming those unnecessary expenses!

Step 04 - Refine
Refine your retirement plan

There are many useful tools out there to plan for your retirement financially. However, such tools are only indicative. For better and meaningful results, seek help from a specialist who can personalize your retirement plan and meet your goals.

Step 05 - Grow
Save, protect and grow your retirement fund


While saving up (accumulation phase), one may face the risk of financial loss due to unfortunate events such as death, loss of income due to illness or disability that may derail the plan.
High medical costs will also need to be factored into consideration. Insurance is about transferring this risk to insurers, hence, protecting yourself from such uncertainities.


Investing is a good way to grow your money at a faster rate during accumulation phase. You can put your money into various assets through investing. Here's some simple advice:

  • Regular Savings Plan (RSP):
    An RSP is a monthly subscription plan that enables you to start small and affordably and regularly invest a fixed amount of money into a certain asset type. WIth the concept of dollar cost averaging, it is an effective strategy that eliminates the need to time the markets. Some potential asset types to consider investing through an RSP include endowment, annuities, exchange traded funds (ETF), and unit trusts.
  • Set up an Investment Portfolio:
    Depending on your risk appetite, you could set up an investment portfolio consisting of different assets (e.g. cash, equities, fixed incomes, unit trusts, etc.) to diversify your investments.

Interested to find out more?

We’re always available to help you work through your retirement plan. It’s your choice now what to do.

Make an appointment

Browse more good reads

Disclaimers and Important Notice
This article is meant for information only and should not be relied upon as financial advice. Before making any decision to buy, sell or hold any investment or insurance product, you should seek advice from a financial adviser regarding its suitability.

Disclaimer for Investment and Life Insurance Products

This is published for information only and does not have regard to the specific objectives, financial situation and particular needs of any specific person who may receive this page, such person may wish to seek advice from a financial adviser before committing to purchase the unit trust. If such person chooses not to do so, he should consider carefully whether the unit trust is suitable for him.

DBS, their director and employees may have positions in and may effect transactions in the unit trust mentioned here. Investments in unit trusts generally are not deposits or other obligations of, or guaranteed or insured by DBS.

Past performance of a unit trust is not necessarily indicative of future performance. Any forecast of prediction of markets or economic trends, which are targeted by a unit trust is not necessarily indicative of the future or likely performance of the unit trust. The value of the units and the income accruing to the units, if any, may fall or rise. Investments in unit trusts are subject to risks, including possible loss of the principal amount invested. All applications for units must be made on the application forms accompanying the prospectus or otherwise described in the prospectus (available at the DBS & POSB branches). Investors must read the prospectus before making any investment decision


Thank you. Your feedback will help us serve you better.

Was this information useful?

That's great to hear. Anything you'd like to add?
We're sorry to hear that. How can we do better?
Enter only letters, numbers or @!$-(),.