The Everyone Must Know Series

Creating 8 Sources Of Income For Your Retirement

When planning for retirement, diversifying income streams is key to ensuring financial stability in later years.

Singapore offers various options for generating retirement income, reflecting its comprehensive social security, personal savings, and investment landscape.

Here are the several income streams available to support your retirement plans.

1. Investment Income

  • Stocks and Bonds: Investing in a diversified portfolio of stocks and bonds can provide dividend income and interest payments.
  • Real Estate Investment Trusts (REITs): Popular in Singapore for generating regular dividend income from real estate investments without needing to directly manage properties.
  • Unit Trusts and Mutual Funds: Managed investment schemes that allow individuals to invest in a portfolio of assets.

2. Central Provident Fund (CPF)

CPF LIFE Scheme: A life annuity scheme that provides Singaporeans with a monthly payout for life, starting from the retirement age. Being a government-backed scheme, it offers a high degree of security.

3. Singapore Savings Bonds (SSBs)

SSBs are fully backed by the Singapore Government, making them a very safe investment. They offer a step-up interest rate over time and allow for redemption with no penalty, providing both flexibility and a relatively attractive return for risk-averse investors.

4. Rental Income

Owning property and renting it out can provide a steady source of income during retirement, though it requires management and can be subject to market fluctuations. You can also rent out a room of the property you are staying in.

5. Annuities

Private annuity plans purchased from insurance companies can provide a steady income stream for a fixed period or for life, complementing CPF Life payouts.

6. Endowment Policies

Endowment policies can be a strategic component of a comprehensive retirement plan, offering a blend of savings and life insurance coverage.

Most endowment policies offer a mix of guaranteed and non-guaranteed returns. The guaranteed returns are promised by the insurance company upon maturity, providing a predictable income source for retirement.

Non-guaranteed returns, on the other hand, depend on the insurer’s investment performance and may add a bonus to the maturity amount.

7. Savings and Fixed Deposits

Interest income from savings accounts and fixed deposits can serve as a low-risk income stream, though the returns are typically lower than other investment options.

8. Passive Income Projects

Income from business ventures or partnerships established before retirement can continue to provide financial support during retirement years. There are also online businesses that can generate passive income with minimal ongoing effort.

Learn More & Get Personalized Recommendations!

Everyone has different financial goals and retirement plans. Hence it is difficult to give specific recommendations that makes sense for every individual.  All of us need our personalized financial plan.

Here at MoneyGrowth.SG, we believe that everyone should have free access to good financial planning advice.  Therefore we have put together a community of trusted experts in financial planning.

All our community experts are:

  • Pre-qualified and vetted by the MoneyGrowth.SG team.
  • Fully licensed with Monetary Authority of Singapore (MAS).
  • Bound by the rules of conduct set by MoneyGrowth.SG. This means no high-pressure sales tactics as this violates the spirit of the MoneyGrowth community. Please report any community expert that does so.
Here is what you can expect when you meet up with one of our community experts:


Learn how to actually create different sources of income to fund your retirement.


Learn about possible income streams for retirement, how to maximize them and how to manage the risk associated with each type of income.


Learn what you need to do and how to meet your financial goals for retirement.


Get personalized recommendations based on your financial situations and your personal financial goals.


Fully non-obligatory and no strings attached.

Schedule A Meet-up