As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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Monday, 23 September 2013

15% of Singapore retirees' income drop by more than half

Singapore Business Review
And some earn less than they expected.

According to HSBC’s Future of Retirement study: Life after work?, a third of retirees (31%) experience a fall in income once they enter retirement with 15% seeing it decline by more than half compared to their pre-retirement income.

A quarter of retirees (24%) found themselves earning less during retirement than they had anticipated.

This shortfall appears more acute among female retirees, with 54% getting a lower income compared to 15% male retirees.

Impact of the global economic crisis (57%), insufficient planning (23%), and lower inheritances than expected (19%) are the main reasons cited by respondents for retirement income falling below their expectations.

While retirement income has declined for many, it does not necessarily mean a corresponding decrease in expenditure. Two-thirds of retirees (66%) say their spending is greater than or the same as before retirement.

Where expenditure does fall, it does not do so by much. Only a small minority (3%) have reduced their outgoings by more than half.

Supporting one’s children financially even while in retirement is becoming common. Retirees in Singapore continue to provide for their children where 27% are supporting their children financially while 38% of working people expect to do so in the future. On the other hand, the research also shows that over a third of retirees (36%) are not financing anyone during retirement and 34% of working people do not expect they have to do so when they retire. 


Hmm..  Retirement doesn't mean spending less.


  1. You have worked hard all your life. Time to enjoy while you can as life is short.

  2. Spending more than passive income earned is not sustainable

  3. Sometimes at retirement age of 60 to 65, i think we should let go a bit. So "Ching Tien Yuo Chiew, Ching Tien Chui......" When we have to live like "vagabond' later, so be it. Only wishful thinking Me!

  4. Thought retirees at 60 and above will save on transport cost and enjoy off peak discount at food outlets etc.

    Eat two meals instead of three meals and two tea-breaks.

    No more work related expenses and gifts.


  5. i only eat "Branch" and dinner. But too much free time on hand, you will find ways to spend your money. So better have something to do everyday. Maybe for you more fishing?
    Ha! Ha!


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