You’re raising kids, managing school fees and enrichment classes, supporting aging parents, working hard to grow your income, and still repaying your home loan.
Retirement? That feels like a problem for “future you.”
But here’s the truth:
This decade isn’t the time to delay retirement planning — it’s the most important time to get started. Your 40s are your critical planning years.
If you wait till 50 or 55 to “get serious,” your runway shortens. You may find yourself scrambling to catch up with less time, higher costs, and more financial stress.
1. What Does Retirement Actually Look Like for Me? Retirement isn’t one-size-fits-all.
💼 Do you plan to stop working completely? Or ease into part-time? 🏝️ Want to travel, start a passion project, or just enjoy slower days? 🗓️ Are you aiming for 55? Or 65?
You can’t plan what you haven’t pictured. So sit down with your spouse and get specific. You’d be surprised how different your ideas might be — and how powerful it can be to align early.
2. How Will I Replace My Income? You might have CPF LIFE. But is that alone enough?
Explore: ☑️ Private annuity plans ☑️ Rental income from property ☑️ Dividends from investments ☑️ Endowment plans that mature just in time
The goal: Replace your active income with passive ones — so you can choose when to stop working, not be forced to.
3. Am I Spending Everything on Today? Yes, there’s tuition, mortgage, CNY shopping, enrichment, and family holidays.
But are you setting aside 10–15% for your future self? Even $300/month compounds beautifully over 15–20 years. It’s not about the amount — it’s about consistency. Start small. Automate it. Adjust as you grow.
4. Is My CPF Working Hard Enough for Me? Your CPF is earning 4–5% annually. It’s one of the safest tools you have.
Look into: ☑️ Voluntary top-ups (especially for the lower-earning spouse) ☑️ Topping up your Retirement Account to the current year’s Enhanced Retirement Sum (ERS) ☑️ Investing your Ordinary Account (OA) funds under the CPF Investment Scheme
Talk to an advisor to see how CPF can quietly work harder for you.
5. What’s My Property Strategy For Retirement? So many Singaporeans think “property = retirement plan.”
But will you: 💰 Downgrade to cash out? 💵 Rent it out for income? 🏠 Sell one and keep another?
Property isn’t liquid. It doesn’t pay your grocery bill or hospital stay. You need a clear exit plan, not just bricks on paper.
6. Am I Sacrificing My Retirement For My Kids? Ask yourself honestly: If you fully fund your child’s overseas education, how will it affect your own retirement?
Many parents dig deep into savings to fund overseas education. But here’s the thing:
💡 Your child can take a student loan. ❌ You can’t take a retirement loan.
Let’s plan smart — for them and for you.
7. Can My Family Handle a Medical Emergency? An unexpected illness can derail everything.
Make sure you’ve got: ☑️ Hospitalisation plans ☑️ Critical illness cover ☑️ Disability income protection ☑️ CareShield Life supplements for long-term care
Don’t wait for a wake-up call.
8. Are My Spouse and I On The Same Page? Ask yourselves:
🤔 What if one of us wants to retire earlier? 🤔 What if one of us can’t work due to illness? 🤔 Are we on the same page about spending and saving?
Planning as a couple ensures shared peace of mind. It avoids future tension — and empowers both parties to take ownership.
9. Will My Money Go to the Right People? A retirement plan is only as strong as the documents backing it.
Remember to: ☑️ Make a Will ☑️ Do your CPF and insurance nominations ☑️ Complete your LPA (Lasting Power of Attorney)
You don’t need to be old or rich. You just need to be responsible — especially if you’re a parent.
10. If Something Happens Tomorrow, Is My Family Prepared?
🤔 If I could stop working at 55, what would that life look like? 🤔 If something happened to me tomorrow, would my family be okay financially? 🤔 If I had to fund $250K for my child’s overseas degree, what would it do to my retirement? 🤔 If one income stops, how long can we sustain our lifestyle?
These aren’t easy questions. But they’re the ones that lead to clarity.
Your 40s = Your Planning Window You’re not too late. But you’re not too early either.
This is your moment to act with intention — to build a retirement plan that aligns with your family, lifestyle, and values.
Whether you need clarity on where to start, or just someone to walk you through these 10 questions step by step — you can always talk to a trusted advisor.
Your 60-year-old self will thank you.
The views expressed in this media do not necessarily reflect the views of PFPFA Pte Ltd (“PFPFA”). The information provided herein is intended for general circulation and not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use will be contrary to local laws or regulation. You should also note that the information presented does not have regard to the specific investment objectives, financial situation or the particular needs of any specific individuals; and therefore, may not be appropriate to your individual needs. You should seek the advice of your financial adviser representative or a professional before making any commitment to purchase or invest in any investment product.
Estate planning services is provided by PFP Legacy Singapore, a sister company of PFPFA Pte Ltd. Estate planning and/or will-writing services are non-financial advisory services and thus are not regulated under the Financial Advisers Act.
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