At what age did you start planning your retirement and what age do you want to retire?

I started planning for retirement very late - only when I reached 54 years old. My advise is start as early as 35-40 years old. the good thing is I spoke to about 7-8 financial advisers. Then realised that not every financial adviser is savvy about retirement plans from different insurers. Most of them promote or sell what they know or a particular insurer. i really had a good understanding of what market offered at that time when i started planning.

i took 3 plans based on what i

knew

1. TM GIO retirement plan - paid for 5 years. placed 40k x 5 years. Payout started about $8,200 per year. pays for life as Principal will remain same for this policy until u decide to withdraw principal
2. NTUC retirement plan - 30k x 5 years. at age of 65 starts paying u $1500 per month guranteed for 10 years.
3. AIA retiremwnt plan still paying till another 2 years. Expected payout about $600+ monthly for 10 years

have not included cpf which is also

part of your retirement plans

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2 suggestions:

1. start early so you can stretch no of years of payment.
2. learn as much - pls find out as much as you can from different insurers about their offer; take a plan that offers guranteed principal and payout as this is for retirement.

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Start upon starting work and hope to end all by 60.

40. After I finished paying my housing loan.

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65. I'm saddled with two small kids

I do not have an age but I try to save and invest as much as I can. I do not know when I will retire but I want to have the freedom to quit any time I want.