I am a 35 year old single male. How should I plan for retirement considering that I do not plan to be married and start any family in the near future?

Simplest way is to make sure: investment income = recurring expenses.

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Best to start as early as possible esp compounding interest a true monster. retirement is never about old age, i know ppl retired at age 21 after NS and engineer at age 35 (30 years ago). its about how much your income is more than your expenses. income can be active and best is passive and money come even your are sleeping. buy assets not liability. i plan 2 years ago and start my investment portfolio and returns every month about 75% PA passive positive cash flow that is 4x my expenses. i am 49yo and retired in apr 2021 after company ask to go in the mid of the covid pandemic. So do it as early as possible and start anything bette than think and talk and never do anything at all.

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Hi Annon,

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All financial planning are different for everyone. Some basic insurance such as Health Insurance, Critical illness insurance are essential. So dont compare your personal financial planning with others, because your objective may differ from even your close friends.

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Don't we already have some sort of retirement plan. i.e. CPF LIFE. Now your questioning about whether you should start retirement planning may have come up because you may have realised that CPF LIFE payout only covers the basic needs of a Singaporean Lifestyle. So planning for retirement to compliment your CPF LIFE is definitely logical and sound.

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Assuming you want to retire at 65 you have 30 years to save retirement wealth to last you from 65 to 80-85. So do consider starting as soon and allow compounding effect to work for you.

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Hope this helps

Retirement planning is basically plan the retirement sum based on your expenses. If you have kids or spouse, then your sum may be more compare to single. If you do not plan to have a family, then you can plan based on your expenses. 4% withdrawal rule is suggesting 25x of your annual expenses for retirement expenses.