Wednesday, December 23, 2009

Need for savings and liquidity

Need for savings and liquidity:

"It is important for each person to have savings and liquidity. I have suggested that each person should set aside 50% of current earnings (inclusive of CPF) for housing and the future. As CPF takes about 35% (including employer's contribution), the personal savings should be 15%. Younger people living with their parents can save a larger proportion (say upt o 30%) if they do not have to repay any study loan or contribute towards their family expenses.

Read more of Tan Kin Lian good advice on savings of Singaporeans here


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