Feel like you’ll have sufficient funds in your bank account when you retire? Probably not, if the Endowus Singapore Retirement Report 2021 is anything to go by. The survey not only found that 39 per cent of respondents aren’t confident about retirement adequacy, but that women are half as likely to be confident about having enough in their golden years as compared to men.
So how can you better grow your nest egg? On top of adding another income stream like a side hustle, you should consider investing your money, whether in stocks, bonds or even your CPF fund, the latter of which is possible to do via Endowus. Don’t know much about CPF apart from the fact that you can use it to pay off housing? Wei Mei Tan, its Chief Advisory Officer, shares five ways you can optimise your CPF literacy.