This presentation on personal finance in Singapore outlines key financial goals such as saving for retirement, housing, education, and wealth creation. It highlights typical income sources, major expenses, and the progressive tax system, alongside the Central Provident Fund (CPF) as a social security mechanism. The document concludes by encouraging careful financial planning and staying informed to achieve financial success in Singapore.

1. Personal Finance in
Singapore
Welcome to this informative presentation on personal finance in
Singapore. Whether you are a resident or planning to make Singapore
your home, this presentation will equip you with essential financial
knowledge.
by Eugene Chai

2. Main Financial Goals in Singapore
1 Saving for retirement
Singaporeans are encouraged to save
for retirement and the Central
Provident Fund (CPF) is one of the
main ways to do so.
2 Housing
Housing costs are high in Singapore
and owning a property is a major
financial goal for most people. The
government has several schemes to
help make this goal attainable.
3 Education
Singaporeans place huge importance
on education and most parents aim to
save for their children's education.
4 Wealth creation
Ultimately, many Singaporeans aim to
create wealth and achieve financial
independence. Robust investment
options and an active stock market
make this goal achievable.

3. Typical Sources of Income
Salaried Employment
The majority of
Singaporeans derive their
income from salaried
employment, which is
subject to mandatory CPF
contributions.
Self-Employment
Many Singaporeans are self-
employed in various fields
such as consulting,
freelance work or
entrepreneurship.
Investments
Singaporeans with the
means to do so often
generate additional income
through investments such
as stocks, bonds or real
estate.

4. Major Expenses and Cost of Living
1
Housing
Housing is the biggest expense
for most Singaporeans, with
home ownership being the
preferred choice. The average
cost of public housing is about
SGD 300K - 1.5M.
2
Transportation
The public transport system in
Singapore is efficient and
affordable, but owning a car is
expensive due to high taxes on
vehicles.
3
Dining out
Dining out in Singapore can
range from cheap hawker
center food to Michelin-starred
restaurants. Singaporeans love
to eat out and food is an
important part of the culture.
4
Utilities and Healthcare
Utilities such as water, electricity
and internet are generally
affordable, and healthcare is
subsidized by the government
through the CPF.

5. Tax System and Regulations
Tax system
Singapore has a
progressive tax system
with a top rate of 22%. It
also has several tax
incentives for businesses
and individuals.
CPF
The Central Provident
Fund is Singapore's social
security system that
provides retirement,
healthcare, and housing
benefits. Most employed
Singaporeans and their
employers are required to
contribute to the CPF.
Regulations
Singapore has a strong
regulatory environment
that is conducive to
business. It also has strict
laws and penalties for
financial crimes such as
money laundering or tax
evasion.

6. Popular Investment Options
Stocks & Bonds
Singapore has a well-
developed stock market
and is home to many large
companies such as
Singapore Airlines, DBS
Bank and Singtel.
Real Estate
Property is a popular
investment option in
Singapore due to strong
demand and government
measures to support the
sector.
Gold
Gold is considered a safe
haven asset and is a
popular investment choice
in Singapore due to its tax-
free status.

7. Conclusion
Personal finance in Singapore can seem daunting, but with careful
planning and a good understanding of the local ecosystem, it is
possible to achieve financial success. Remember to prioritize your
financial goals, reduce unnecessary expenses and stay informed in order
to grow and protect your wealth over time.