I’m a 47yo hsewife, hv $500 spare cash mthly. Want to build up retirement funds. Not much expenses as hubi pays for everything. Alr contribute $7K to CPF SA yearly. Wat else can I do? Any advice?

Tbills and fd...

Hey there!

There are some options for you. If you are risk averse, you can either opt for a retirement plan with an insurer that gives you a monthly payout upon retirement. This will help supplement your CPF payout. Most retirement plans will guarantee your capital.

However if you are looking at capital appreciation, you may choose to invest it either by getting an RSP with a broker/bank and invest monthly into an ETF or through a roboadvisors. You can also engage the help of a financial advisor to manage an investment based plan for you. Do Ensure you are well aware of the funds performance before committing.

In general, you should be opting for more guaranteed returns as you approach retirement age. Feel free to consult a licensed financial advisor to explore your options. All the best!

Financial planning is an integral part of life. You can reach me here to find out more.