| These
‘fortune-telling’ tools are worth a
try! |
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| It
is never too early to plan for
your retirement. Try out the CPF
Retirement Planner at www.cpf.gov.sg. |
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Have you
ever thought of retirement planning but put it
on hold because you did not know how to begin?
Well, now there is an easy way to do it online.
The Central Provident Fund (CPF) Board has launched
the CPF Retirement Planner at www.cpf.gov.sg.
This interactive service comes with two useful
tools — the Interactive Journey and the
Retirement Calculator.
The Interactive Journey introduces the concept
of retirement planning, while the Retirement Calculator
can customise a retirement plan according to your
finances.
To get started, pick one of the characters to
be your persona and fast forward through the different
stages of life till you reach retirement. Along
the way, you decide whether you want to get married,
the type of property you want to purchase, the
number of kids you want to have, etc. The decisions
you make will affect the size of your retirement
fund when you reach age 62.
Ten minutes is all it takes to complete the journey.
The whole idea is to give you a feel of retirement
planning in a fun and easy manner. More importantly,
you will learn that the decisions you make today
will affect your future retirement income.
To ensure that the WIS is practical, relevant
and applicable, many agencies were consulted at
various stages of its development.
The introduction of the WIS is timely. With over
1,600 e-services available at the government websites
today, there is a need to maintain quality in
delivering information and e-services to the public.
The WIS will serve as a guide for the future deployment
of government websites and e-services. With the
WIS, agencies will be able enhance the online
experience of their customers.
If you want to take retirement planning a bit
more seriously, the Retirement Calculator is the
tool for you. Using the data you provide, the
tool will guide you through the three steps of
retirement planning: |
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1 |
Establishing
your retirement goal |
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2 |
Analysing
your current financial situation such as your
assets, liabilities and saving pattern |
| 3 |
Projecting your financial
assets to your desired retirement age to determine
if your ideal retirement income is achievable |
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| If your ideal retirement
income turns out to be unachievable, the Retirement
Calculator will even tell you how soon your savings
would run out and what you need to do to get back
on track. |
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Next: Check out
my cpf today |
