Retiring in Singapore: A Comprehensive Guide

Singapore, known for its vibrant culture and booming economy, is a sought-after destination for many looking to spend their golden years. But what does it take to retire in this bustling city-state, and can you really retire early? Let’s delve into the specifics.

What Does It Take to Retire Early in Singapore?

Retiring early in Singapore requires a combination of meticulous planning, disciplined saving, and wise investment. The cost of living in Singapore is relatively high, so it’s crucial to have a substantial nest egg. Factors like housing, healthcare, and daily expenses play a significant role in determining how much you’ll need. 

Moreover, considering alternative income streams, such as dividends from investments or rental income, can also aid in achieving early retirement. It’s also beneficial to be debt-free, especially from high-interest liabilities. If you’re considering taking a loan to manage your finances, ensure you choose a reputable source. Here at ABM Creditz, we are an accredited licensed institution with decades of reputable experience in loan applications. Visit Apply For A Loan to get started!

At What Age Can I Retire in Singapore?

The official retirement age in Singapore is 62, but the re-employment age extends up to 67. This means that while employers cannot ask you to retire at 62, they are obligated to offer re-employment until you’re 67, given you meet certain criteria.

However, if you’re aiming for early retirement, the age is subjective and depends on your financial preparedness. Some individuals manage to retire in their 50s, while others might take a bit longer.

Is $600,000 Enough to Retire in Singapore?

$600,000 might seem like a substantial amount, but whether it’s enough to retire in Singapore depends on various factors:

  • Lifestyle Choices: If you lead a luxurious lifestyle, frequenting high-end restaurants and indulging in expensive hobbies, this amount might run out faster.
  • Healthcare Costs: As you age, medical expenses can rise. It’s essential to account for potential healthcare costs, including insurance.
  • Housing: If you’ve already paid off your mortgage, $600,000 will stretch further. However, if you’re still paying rent or a mortgage, this will be a significant monthly expense.
  • Inflation: The value of money decreases over time. What seems sufficient today might not be enough in a decade due to inflation.

Considering these factors, while $600,000 is a good starting point, it’s essential to evaluate your personal circumstances and financial goals.

Can I Really Retire at 55?

Retiring at 55 is a dream for many, and yes, it’s achievable. However, it requires early planning, consistent saving, and smart financial decisions throughout your working years. If you’ve been diligent about your finances, have multiple income streams, and have accounted for future expenses, retiring at 55 can be a reality.


Retiring in Singapore is a dream that requires careful planning and consideration. While the city-state offers a high quality of life, it comes with a price tag. By understanding the financial landscape, making informed decisions, and preparing for the future, you can enjoy a comfortable retirement in this beautiful nation.

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