Top retirement money myths

Is your retirement fund in danger of being too sparse? It might be if you subscribed to one of or (gasp) all of these money myths!

  1. MYTH 1 - EPF has me covered.
    Nope. Unless you’re earning mega-bucks; your EPF won’t be enough.
  2. MYTH 2 - I am still young.
    Saving young will give you more interest. Procrastinating never helps!
  3. MYTH 3 - I have savings.
    Traditional savings account interest is super low. You need diverse investments.
  4. MYTH 4 - My children will take care of me.
    Even filial children may not be able to afford to do so.
  5. MYTH 5 - I have insurance plans.
    There are a lot insurance plans don’t cover. Like day-to-day living costs.

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