You may already know that CPF Life is the national longevity insurance annuity scheme in Singapore that provides you with a monthly payout for life from your retirement age.
But did you know that CPF Life may not be enough to cover all your expenses in your golden years❓
That’s why it is essential to plan ahead and consider other options to boost your retirement income.
One of the options you can consider is buying an annuity, which provides you a stream of income for a fixed period or for life.
Annuities can offer you several benefits, such as flexibility, security, and diversification.
But don’t take my word for it. 🧐
Let me show you a real-life example of one of my clients who has successfully built her income stream with annuities over the years.
Meet Ms. Phua, a 53-year-old single lady who works as a supervisor in a manufacturing line, drawing an average salary of $6,000 per month.
She started investing in annuities 6 years ago as a supplement to CPF Life. She will soon receive a regular income from her annuities, which covers her basic expenses and allows her to save more for her retirement and pursue her passions.
She also enjoys peace of mind knowing that she will receive a steady and predictable income for the rest of her life, regardless of market conditions or economic downturns.
Here is how she built up her passive retirement income with endowment plans with payouts and annuities over the years:
💵 2018: $2,400 per year from 55 to 75
💵 2019: $20,000 per year from 65 to 75
💵 2020: $5,500 per year from 55 for life
💵 2021: $3,600 per year from 55 for life
💵 2022: $6,500 per year from 55 for life
💵 2023: $3,600 per year from 55 for life
| Year | Yearly Payout | Age |
| 2018 | $2,400 | 55 to 75 |
| 2019 | $20,000 | 65 to 75 |
| 2020 | $5,500 | 55 for life |
| 2021 | $3,600 | 55 for life |
| 2022 | $6,500 | 55 for life |
| 2023 | $3,600 | 55 for life |
Ms. Phua is just one of the many examples of how annuities can help you achieve your retirement goals and secure your financial future.
However, retirement planning is not one size fits all.
If you are interested in finding out more about annuities and how they can fit into your retirement plan, feel free to contact me anytime if you have any questions or concerns. ☎️
I would be happy to assist you and provide you with more information and guidance.
Disclaimer:
For illustrative purposes only.
Yearly payout consist of guaranteed and non-guaranteed payouts.
