By Saving

The amount of money you will need to live comfortably when you stop working is not an easy number to conclude. Some people are cautious and live frugally while saving aggressively. Others are complacent about their future and assure themselves that they have CPF savings to fall back on.

From coin banks to stashing money under the mattress to…

To build a sense of security for the future, most people put their money in savings accounts and fixed deposits. This is seemingly better than saving in coin banks and under mattresses because of the interest to be earned. However, the interest awarded with such accounts is so little that it would take decades to build a substantial amount.

Will $2012 become $20.12 in 20 years’ time?

If you’re relying on cash savings for your retirement, be aware that inflation can depreciate the value of your savings. When setting savings goals for your retirement, remember to set your target in future dollar value.