If the inflation rate is about 3%, my cost of living will double almost every 24 years.
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The income replacement method is the only method I can use to estimate the funds I need for a comfortable retirement.
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The Supplementary Retirement Scheme is a voluntary scheme for me to supplement retirement savings by making cash contributions into an SRS account and enjoy tax relief.
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It is not important for me to re-balance my investment portfolio regularly.
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Cash top-ups of up to $10,000 into my own Special Account/Retirement Account under the CPF Retirement Sum Topping-up Scheme qualify for $10,000 tax relief.
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