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How The Self-Employed, Entrepreneurs And Freelancers Can Save For Retirement

Financial planning like a boss.

 

An estimated 14% of workforce in Singapore are working for themselves as self-employed, entrepreneurs or freelancers.

This means that they do not benefit from “automatic” Central Provident Fund (CPF) contributions, which makes it even more important for them to start planning and saving for their retirement. Having regular savings is  critical especially when their monthly income can vary greatly.

Here are 3 ways you can start to prepare for your retirement, today.

  • Set A Retirement Date; And Save Towards It
  • Utilise CPF For Your Retirement Savings
  • Building Your Savings/Emergency Funds

Read Also: Retirement In Singapore: Calculating How Much Do You Really Need

Watch this video to learn how you can start your retirement plan.

Read More: How The Self-Employed, Entrepreneurs And Freelancers Can Save For Retirement

Planning To Sign Up For A New Credit Card This January?

From now till 31 January 2019, you’ll receive exclusive cash and vouchers from SingSaver - on top of any perks given by individual banks - when you use our links to sign-up. Some of the cards eligible for the promotion are:

# 1 American Express Singapore Airlines KrisFlyer Credit Card

[SingSaver Exclusive]: $150 Cash for new and existing customers

26,600 bonus miles if you spend $3,000 within the first three months, and another $3,000 between 4th month and 6th month.

# 2 American Express Singapore Airlines KrisFlyer Ascend Credit Card

[SingSaver Exclusive]: $150 Cash for new and existing customers.

49,900 bonus miles if you spend $6,000 within the first three months, and another $6,000 between 4th month and 6th month, and pay the annual fee of $337.05

# 3 Citi PremierMiles Visa Card

[SingSaver Exclusive]: $200 vouchers Cash for new Citi customers. $30 for existing customers.

30,000 bonus miles if you spend $7,500 within the first three months and pay the annual fee of $192.60.

# 4 UOB PRVI Miles Visa Card

[SingSaver Exclusive]: $50 Cash for new and existing customers.

Note: If Air Miles cards are not your cup of tea, you can also take a look at cashback cards.

Terms and conditions apply. The FAQ can be found here.

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DollarsAndSense.sg aims to provide interesting, bite-sized and relevant financial articles.

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