Singapore might be one of the most expensive cities in the world, but for many expats, the hidden cost isn’t just rent or coffee; it’s the slow erosion of your purchasing power. Inflation is a quiet thief. If you’re earning, saving, or investing in Singapore, you need a strategy that works now and in the future.
This guide will show you how to inflation-proof your portfolio without taking unnecessary risks, and without ignoring the fact that, as an expat, your financial life may span multiple currencies and countries.
1. Understand How Inflation Hits Expats in Singapore
For locals, inflation is mostly about cost of living. For expats, it’s a triple hit:
• Local inflation — price rises in SGD for housing, food, and services. • Imported inflation — the cost of goods from abroad. • Currency erosion — if your savings or income are tied to a weakening home currency.
Example: If you’re paid in SGD but plan to retire in GBP, you have to watch both Singapore’s inflation rate and the SGD-GBP exchange rate.
2. Diversify Across Asset Classes
No single investment will protect you perfectly, but a balanced mix can give you resilience.
• Equities: High-quality companies with pricing power can pass costs to customers. • Bonds: Shorter-duration bonds protect better in rising-rate environments; inflation-linked bonds adjust payouts in line with inflation. • Real Assets: Property (physical or REITs) and commodities can hedge against rising prices. • Alternative Investments: Infrastructure funds or private equity (if suitable for your profile).
3. Use Currency Hedging Wisely
Many expats ignore currency risk until it bites. Consider: • Hedged share classes of global funds. • Holding a mix of home-currency and SGD assets. • Using multi-currency accounts to park funds strategically.
4. Review Your SRS & Retirement Investments
SRS investments are in SGD, so if you plan to retire overseas, include an FX-diversification strategy. Inflation-proofing here might mean:
• Adding global equity funds. • Including a small allocation to commodities or infrastructure. • Avoiding locking into overly long fixed-income instruments when rates are rising.
5. Keep Cash — But Not Too Much
Cash is important for short-term stability, but inflation eats it fast. • Keep 3–6 months’ expenses in an easy-access account. • For surplus, use short-term fixed deposits or money market funds.
6. Regularly Rebalance
Inflationary periods can quickly skew your portfolio allocation. Make annual or semi-annual rebalancing a habit.
Inflation isn’t a storm to be waited out, it’s a tide you have to swim against. With the right asset mix, currency strategy, and regular reviews, your portfolio can not just survive but thrive in Singapore’s evolving economic climate.
As an expat living and working in Singapore, you’re likely looking for smart, tax-efficient ways to save and invest during your time here. But with limited access to local schemes like CPF, and the potential for a transient lifestyle, long-term financial planning can feel more complicated than it needs to be.
That’s where the Supplementary Retirement Scheme (SRS) comes in.
Many expats are unaware they’re eligible to participate, or dismiss it as something only Singaporeans benefit from. But in reality, SRS is one of the most underutilised and valuable tools available for high-earning foreigners living in Singapore—especially when it comes to reducing tax and building investment wealth.
In this article, we’ll explore what SRS is, why it matters for expats, and how to make the most of it while you’re here.
What Is the Supplementary Retirement Scheme?
The SRS is a voluntary savings programme launched by the Singapore government to encourage individuals to save for retirement, while also providing immediate tax benefits.
While CPF is mandatory only for Singapore Citizens and Permanent Residents, SRS is open to everyone, including foreign professionals. The scheme is designed to:
Reduce your taxable income in the current year
Provide a flexible investment account
Allow tax-deferred growth on your investments
Offer preferential tax treatment upon withdrawal (especially if planned strategically)
Why SRS Is Worth Considering as an Expat
Let’s start with the biggest benefit: income tax relief.
If you’re an expat working in Singapore and earning a relatively high income, your marginal tax rate could be anywhere from 11.5% to 24%. By contributing to an SRS account, you can reduce your taxable income and pay less tax each year.
Example:
Say you’re earning SGD 160,000 a year. If you contribute the maximum SGD 35,700 to your SRS account, that amount is deducted from your taxable income—potentially saving you over SGD 5,000 in tax, depending on your personal situation.
This is especially valuable if:
You’re in a high tax bracket
You expect to remain in Singapore for at least a few more years
You’re already maximising other basic reliefs (like earned income relief, spouse relief, etc.)
How Much Can You Contribute?
As of now, the SRS annual contribution cap for foreigners is SGD 35,700, compared to SGD 15,300 for Singaporeans and PRs.
You can contribute any amount up to this limit each calendar year. Contributions must be made by 31 December to count toward that year’s tax relief.
What Can You Invest in Through SRS?
SRS contributions sit in a designated account (held with DBS, OCBC or UOB) and can be left in cash or invested. If you leave them in cash, the interest earned is minimal, so it’s far more effective to deploy the funds into investments.
SRS-approved investments include:
Stocks and ETFs (listed on SGX or overseas exchanges)
Unit trusts and mutual funds
Fixed deposits
Bonds (corporate or government)
Insurance products (like endowment plans or retirement income plans)
REITs
Certain structured products
This gives you flexibility to align your SRS strategy with your risk appetite, time horizon, and return expectations.
When Can You Withdraw—and What Are the Tax Implications?
Here’s where it gets interesting.
You can begin making penalty-free withdrawals from your SRS account from the statutory retirement age that was applicable at the time of your first contribution. For now, that’s age 63. Withdrawals before this age incur a 5% penalty, unless for specific reasons (e.g. death, medical grounds, bankruptcy, or if you’re leaving Singapore permanently, subject to the account being open for 10 years).
But the real benefit is this: only 50% of each withdrawal is subject to tax.
This creates a powerful opportunity. If you’ve left Singapore and have no other taxable income in the country, you could potentially withdraw funds with little or no tax payable at all—especially if the withdrawals are spread over several years.
Example Scenario:
You’re retired, possibly still a tax resident in Singapore, and you start withdrawing SGD 40,000 per year from your SRS account. Only SGD 20,000 counts as taxable income. And if that falls below the basic income tax threshold, you pay nothing.
This is particularly appealing for expats who plan to retire overseas or in lower-tax jurisdictions.
What Happens if You Leave Singapore?
If you’re leaving Singapore permanently and don’t intend to return, you can withdraw your SRS funds penalty-free—but there’s a catch.
While the 5% early withdrawal penalty is waived, 100% of the withdrawn amount becomes taxable, not just 50%.
This often leads to a dilemma for expats: Do you withdraw everything now and take the tax hit, or leave the funds in SRS and defer withdrawal until you’re eligible for the 50% tax concession?
In many cases, it may make financial sense to keep your SRS account active—particularly if you’re confident you won’t need the funds for many years, and you can benefit from long-term tax-deferred investment growth.
That said, this decision should be based on your personal situation, including:
Your expected future income and tax residency
Whether you’ll still have ties to Singapore
How long until you reach statutory retirement age
Currency considerations and investment preferences
A financial adviser can help you model the impact of each option. One interesting point to take note is that if you are a non-resident at the time of withdrawal, the 50% will be taxed on Singapore’s highest tax rate (currently 24%). This may not be so much of an issue if you are already a high-tax income earner, but it is definitely something to take into consideration when you are planning your withdrawals.
Strategic Tips to Maximise Your SRS Benefits
1. Contribute consistently, especially in high-income years.
Use SRS to reduce taxable income when you’re in a higher bracket—it’s less effective when your income is already low or tax-exempt.
2. Don’t leave funds sitting in cash.
Once contributed, invest your SRS funds thoughtfully. Holding cash long-term defeats the purpose of tax-deferred investment growth.
3. Plan withdrawals carefully.
If you’re retiring or leaving Singapore, aim to spread withdrawals over 10 years after reaching the qualifying age to minimise tax.
4. Be mindful of currency exposure.
SRS contributions and most investment options are SGD-denominated. If you plan to retire in a different country, factor in exchange rate risks.
5. Coordinate with your global financial plan.
Ensure SRS complements—not conflicts with—your other retirement vehicles and tax structures across jurisdictions.
The Supplementary Retirement Scheme may not be as well-known as CPF, but for expats in Singapore, it can be a powerful tax and investment tool. It allows you to save smartly during your higher-earning years, benefit from immediate tax relief, and grow your wealth in a tax-deferred environment.
More importantly, it gives you flexibility. Unlike some national pension schemes, you control how your funds are invested and when (and how) you withdraw them.
With the right strategy, SRS can play a key role in your long-term financial independence—wherever you eventually call home.
Wondering if SRS fits into your expat financial strategy? Let’s have a conversation about how it could help reduce your tax bill and build wealth for the future.
Talking about money with your partner can feel… uncomfortable. Even couples who communicate well in every other area often find themselves walking on eggshells when it comes to finances. Whether it’s spending habits, saving goals, or income differences, money can trigger emotions—shame, fear, frustration—that make open dialogue tricky.
But here’s the truth: if you’re in a serious relationship, your financial lives are already intertwined—whether you’re talking about it or not. The good news? Learning how to have calm, constructive money conversations is a skill. And like any skill, it can be learned.
In this guide, we’ll walk through why money talks so often go wrong—and how to make sure they go right.
Why Money Conversations Feel So Personal
Before we dive into how to talk about money, it helps to understand why it’s such a minefield.
Money isn’t just numbers—it’s tied to identity, security, status, childhood experiences, and cultural expectations. That’s especially true for expat couples, where:
One partner may earn more than the other
One might be unemployed or on a career break
You may come from different financial or cultural backgrounds
Your family and retirement goals might be in totally different countries
All of this means that financial conversations aren’t just about budgets—they’re about beliefs, values, and long-term hopes.
Step 1: Choose the Right Moment
One of the biggest mistakes couples make? Bringing up money in the middle of a stressful situation—like after a big bill, an unexpected expense, or a disagreement.
Instead, schedule the conversation. Seriously.
Try saying:
“Can we set aside 30 minutes this weekend to go over our finances together? I’d love for us to be on the same page.”
Set yourselves up for success:
Pick a calm, neutral time (not when you’re tired or rushing out the door)
Leave distractions aside—phones off, TV off
Approach it as a shared task, not a confrontation
Step 2: Start With Shared Goals
Before diving into what’s not working, begin with what you both want.
Ask each other:
What are our top 3 financial priorities right now?
What would we love to achieve in the next 5 years?
How do we want to live in retirement?
When couples focus on shared goals—buying a home, funding school fees, building a travel fund—it becomes easier to work as a team. You’re not arguing about expenses; you’re planning a future together.
Bonus tip: Write your shared goals down. They’ll become the anchor for future money decisions.
Step 3: Talk About Money History (Without Judgement)
So many financial disagreements stem from different backgrounds. Maybe you grew up with parents who talked openly about money—and your partner didn’t. Or one of you was raised in a high-debt household, while the other had a strict “save everything” mindset.
These experiences shape how we deal with money as adults.
Ask each other:
What did your parents teach you about money?
How did you feel about money growing up?
What’s one financial habit you wish you could change?
This isn’t about fixing each other—it’s about understanding each other.
Step 4: Be Honest About Income and Spending
Now it’s time to get practical. Lay the numbers out:
Income (including bonuses or irregular payments)
Monthly expenses
Debts or liabilities
Savings and investments
It can be nerve-racking to admit things like overspending, debt, or lack of savings—but transparency builds trust. If you’ve been hiding something, this is your chance to come clean. If your partner opens up about something that surprises you, listen before reacting.
If you’re unsure how to begin, try saying:
“I’d like us to both know what’s coming in and going out. Would you be open to going through this together?”
Step 5: Decide on a System That Works for You Both
There’s no one-size-fits-all way to manage joint finances. Some couples combine everything. Others keep things mostly separate and split shared bills.
Fully Combined
All income goes into a joint account. Bills, spending, savings—everything is shared.
Good for: Couples with different incomes or spending habits who still want joint finances & planning.
Partially Combined
Each partner contributes to a joint account (usually proportionally based on income) for shared expenses, while keeping separate accounts for personal spending.
Good for: Couples with different incomes or spending habits who still want financial independence.
Fully Separate
Each partner handles their own money, and shared expenses are split down the middle or as agreed.
Good for: Newer couples, or those who prefer total independence.
Whichever you choose, make sure it’s discussed—not assumed. The goal isn’t fairness by maths—it’s fairness by agreement.
Step 6: Make It a Habit, Not a One-Off
The best way to avoid conflict? Make money talks regular and normal.
Try setting a “money date” once a month:
Review your budget or spending
Check in on goals (saving for a holiday? Paying off a credit card?)
Make decisions together (like increasing investment contributions)
Keep it short and positive—20–30 minutes over coffee or a glass of wine works wonders.
When to Get Help From a Professional
Sometimes, money issues run deep—or you just need a neutral third party to help you build a plan. This is especially true for:
Dual-country tax or financial planning
Retirement planning across jurisdictions
Managing different currencies or property in multiple countries
Major lifestyle changes (children, redundancy, relocation, repatriation)
A qualified wealth adviser can help you map out a financial strategy that feels good to both of you—while keeping things calm and constructive.
Money doesn’t have to be a source of tension—it can be a tool for connection. When you talk openly, plan together, and respect each other’s differences, you don’t just avoid arguments—you build a stronger, more resilient partnership.
And remember: you don’t need to agree on everything. You just need to agree on how you’ll disagree—with empathy, honesty, and a plan.
Want help getting on the same financial page as your partner? Let’s sit down together and turn “money talks” into a shared plan for your future.
Being an expat often looks glamorous from the outside—high salaries, tropical brunches, and weekend trips to Phuket. But behind the scenes? It’s expensive. And not always in the ways you expect.
While most people prepare for the obvious costs—rent, transport, food—the hidden costs of expat life are what catch many families off guard. School fees, relocations, health insurance, and even the price of flying “home” can add up fast. If you don’t plan for them early, they can quietly erode your savings and leave you feeling financially stuck.
This guide is your financial reality check—and your toolkit—for managing the true cost of life abroad.
The Real Cost of International School Fees
International schools in Singapore offer world-class education—but they come at a serious price. Annual fees often range from SGD 25,000 to SGD 50,000 per child, depending on the school and year group. That doesn’t include:
Registration or enrolment fees
Uniforms, textbooks, and materials
School trips, technology fees, extracurriculars
Bus transport or meals
If you have more than one child—or plan to stay abroad long-term—these costs multiply quickly.
What to plan for:
Start saving early if you’re paying privately.
Consider a dedicated investment account or education savings plan.
Factor in inflation—school fees tend to rise 3–6% per year.
If your package includes school fees now, think ahead: What happens if your employer stops covering them?
The Price of Moving (and Moving Again)
Relocations aren’t cheap. Even if your company pays for the bulk of your move, you’ll still face:
Temporary accommodation and deposits
Storage costs
Visa and immigration expenses
School application fees
Admin setup (utilities, transport, mobile plans, furniture)
Travel costs for house-hunting or visa runs
And most expats move more than once. You may relocate within Singapore (e.g. upgrading to a bigger flat), or leave for another country down the line. Each move brings another wave of expense.
What to plan for:
Build a dedicated “mobility buffer” in your emergency fund (3–6 months of expenses, or more if you move frequently).
Keep your financial documents digitised and accessible from anywhere.
Maintain accounts or cards in more than one currency to ease transitions.
Hidden Career Costs (Especially for Partners)
For many expat families, one partner’s career takes priority—while the other may pause work, switch industries, or face employment restrictions. This leads to:
Lost income and pension contributions
Gaps in CVs
Limited access to professional networks
Increased financial pressure on the main earner
Over time, this has a knock-on effect on retirement savings and long-term financial independence, especially for women.
What to plan for:
Talk openly as a couple about joint financial goals and decision-making.
Consider building individual investment portfolios or savings accounts.
Factor in retraining or requalification costs if the non-working partner plans to return to work later.
Health Insurance Gaps
Singapore has excellent healthcare—but for expats, it’s not free. Without access to public subsidies, private insurance is essential—and expensive.
Many employers offer a basic medical plan, but it may not include:
Maternity coverage
Dental or optical
Pre-existing conditions
Mental health support
Dependents
And if you change jobs, lose coverage, or move countries, those gaps can become costly quickly.
What to plan for:
Review your insurance policy each year—not just for coverage, but also for portability.
Consider top-up or international policies for peace of mind.
Build a health emergency fund in addition to your main safety net.
The Cost of “Settling In”
Even if your relocation is covered, everyday life setup can be pricey:
Furniture and appliances
Car purchase or lease
School uniforms and supplies
Club memberships or activities
Replacing items left behind (like winter clothes)
Many expats underestimate this “soft landing” cost, which can run into thousands in just the first few months.
What to plan for:
Budget realistically—not just for the move, but for the first year.
Create a checklist of one-time vs recurring costs.
Don’t forget smaller items (like SIM cards, local bank fees, or childcare).
Home Leave and Family Travel
Visiting home is a must for most expats—but flights during holidays can be eye-wateringly expensive. Add in:
Accommodation (if you’re no longer a guest at your parents’ place!)
Travel insurance
Meals, gifts, and spending money
Pet boarding or travel costs
Missed workdays or unpaid leave
Multiply that by how many times a year you plan to go back—and then again for major life events like weddings, funerals, or emergencies.
What to plan for:
Start a “home leave” savings pot.
Book early to take advantage of flight deals.
Consider travel insurance that covers cancellations and health overseas.
Tuition for University Abroad
For many expat families, it’s not just school fees in Singapore—it’s also university abroad, often in the UK, Australia, Canada, or Europe.
Tuition fees for international students are significantly higher than for residents. And that’s before you add:
Accommodation
Flights
Visas
Health insurance
Living expenses
What to plan for:
Use long-term investments to grow your education fund.
Explore the pros and cons of keeping assets in your home country versus Singapore.
Plan well in advance—university costs can be forecast and planned for over 10+ years.
Putting It All Together: How to Plan for the Hidden Costs
To stay on top of these hidden costs, build your financial plan around three key pillars:
1. Short-Term Buffer (0–2 years)
Emergency fund
Moving and relocation
Health insurance gaps
Home leave
2. Mid-Term Goals (3–7 years)
School fees
Housing upgrades
Career transitions
Family support
3. Long-Term Wealth (7+ years)
Retirement
University tuition
Repatriation
Property purchases
Each pillar needs a mix of savings, investments, and insurance. And you’ll want to review regularly as your expat journey evolves.
Expat life is exciting, full of growth and adventure—but it’s not cheap. The most financially confident expats are the ones who expect the unexpected. They plan ahead for school fees, moving costs, and long-haul flights—not just the day-to-day expenses.
With the right plan, these costs don’t have to derail your goals—they just become part of the strategy.
Worried about school fees, moving again, or how to juggle it all financially? Let’s build a plan that makes your expat life sustainable, not stressful.
Living in Singapore as an expat comes with countless advantages—high earning potential, a stable economy, and access to global markets. But when it comes to investing, many expats fall into the same traps: being sold unsuitable products, leaving money idle in cash, or putting off investing altogether out of fear.
If you’re ready to make your money work harder—but want to avoid the common mistakes—this article is for you.
Why Expat Investing Is Tricky
Unlike locals, expats don’t have access to CPF investment schemes, many can’t buy property under the same terms, and few have employer-sponsored pensions that match what they’d get at home. On top of that, we face:
Multiple currencies and accounts
Unclear tax implications when moving countries
A flood of “advisers” offering quick fixes – some local, knowing nothing about expat requirements, others expat themselves, but maybe see us as an easy buck
A reluctance to commit funds in a place we might leave soon
So yes—investing as an expat can be tricky. But that’s all the more reason to get it right.
Trap #1: Leaving Too Much in Cash
Cash is important—for emergency funds, short-term goals, and mental comfort. But too many expats sit on huge amounts of idle cash because:
“We might move soon.”
“We don’t know where to invest.”
“It feels safer.”
The reality? Over time, inflation eats away at cash’s value—especially in Singapore, where prices creep up year after year.
What to do instead:
Keep 3–6 months’ expenses in cash for emergencies. Beyond that, start investing based on your time horizon. You don’t need to commit to 30-year lock-ins—just make sure your money isn’t losing value while it waits.
Trap #2: Buying Products You Can’t Exit
Some investment-linked products sold to expats promise guaranteed returns, capital protection, or “attractive bonuses”—but come with high fees, complex structures, and exit penalties.
The warning signs?
Upfront commissions hidden in long lock-in periods with high penalties for even partial withdrawal
Confusing investment-linked insurance structures
No ability to switch or access funds without penalty
Lack of transparency around costs
What to do instead:
Stick to transparent, liquid, low-cost investments—such as globally diversified funds with a shorter lock-in, or direct portfolios managed through a regulated platform. Always ask: Can I exit or adjust this? What’s the true cost?
Trap #3: Overconcentration in One Country or Currency
Many expats either:
Keep all their money in their home country (because it’s familiar), or
Leave everything in SGD (because they live here now).
But both approaches expose you to currency and market risk.
Example:
A British expat with GBP-denominated retirement goals who keeps everything in SGD is exposed to currency swings over time.
What to do instead:
Match your investment currencies to your future spending. If you plan to retire in the UK, hold some GBP-based assets. If you’re not sure, diversify across regions and currencies. Think global, not just local.
Trap #4: Overcomplicating Your Portfolio
It’s easy to get caught up in complex investment strategies—especially when some providers pitch exotic products like structured notes, thematic funds, or private equity structures.
But complexity doesn’t always mean better performance. In fact, it often just means higher fees and lower transparency.
What to do instead:
Focus on simplicity:
A core globally diversified portfolio
Regular, automated contributions
Periodic rebalancing
Minimal tinkering
Time in the market beats timing the market—especially when you’re already dealing with cross-border challenges.
Trap #5: Ignoring Tax Efficiency
Singapore has no capital gains tax and no tax on dividends for most investments—but that doesn’t mean you’re totally off the hook.
Expats from countries like the UK, Australia, and Canada may still face reporting requirements or future tax liabilities, especially if they repatriate.
What to do instead:
Be mindful of which jurisdictions your investments are held in.
Consider tax wrappers like SRS (Supplementary Retirement Scheme), which is available to foreigners and offers tax deferral benefits.
If this is not going to be beneficial for you long-term, consider investments that offer tax-efficient wrappers for jurisdictions such as UK, EU & Australia.
Keep clean records and use regulated platforms with proper reporting.
Note: Always consult a tax adviser for home-country specifics—but a good wealth adviser should flag these considerations for you up front.
Trap #6: Trying to Time the Market
When markets are volatile, many investors either rush in at the top or wait too long on the sidelines. As an expat, this uncertainty is often magnified by:
Currency fluctuations
Geopolitical concerns back home
Uncertainty about how long you’ll stay abroad
What to do instead:
Automate your investing. Whether it’s monthly contributions into a portfolio or a regular savings plan into global funds—consistency beats heroics.
You don’t need to catch the next market dip—you need to build the habit and stay the course.
What Smart Expat Investing Looks Like
Clear goals: Know what you’re investing for—retirement, education, property?
Time-based strategy: Align risk levels with your time horizon.
Global diversification: Don’t bet the farm on any one region.
Liquidity: Make sure you can access your funds if plans change.
Transparency: You should understand what you’re invested in and how much it costs.
Support: Work with a licensed, experienced adviser who understands cross-border planning.
Investing as an expat in Singapore doesn’t have to be complicated—but it does need to be intentional.
You’re likely earning well and have the ability to build serious long-term wealth. The key is avoiding the usual traps—overpriced products, too much cash, or inertia—and instead building a clean, flexible investment strategy that can adapt wherever life takes you.
Want to build an investment plan that works in Singapore and beyond? Let’s talk. I’ll help you avoid the usual traps and make confident, cross-border decisions for your future.
If you’re living and working abroad, chances are you’ve already made a number of financial decisions that most people back home never have to think about—things like multi-currency income, international tax rules, private healthcare, and schooling costs. You might be earning well, enjoying life, and managing just fine on your own.
But at some point, the question arises: “Do I really need a financial adviser?”
Here’s a detailed, honest guide to help you decide—especially as an expat in Singapore.
Why Expats Face Unique Financial Challenges
Expats often juggle more complexity than they realise:
Earnings in one currency, savings in another
Multiple tax jurisdictions
Pensions and savings scattered globally
International school fees
Changing immigration or residency statuses
No access to home-country financial products
No CPF if you’re not a Singapore citizen or PR
All of this means your financial decisions aren’t just about “what fund to invest in”—they’re about strategy, timing, structure, and risk management across borders.
When You Might Not Need an Adviser
Let’s start with the honest bit.
You might not need a financial adviser if:
You have a strong financial background (e.g. you’re a CFA or accountant)
You’re comfortable researching investments and tax implications yourself
Your finances are still fairly simple (e.g. you’re single, renting, no dependents)
You’ve already created a well-diversified, low-cost investment strategy
You have time and interest in actively managing your own finances
That said—even financially savvy people often underestimate the value of a second pair of eyes when cross-border issues are involved.
When an Adviser Becomes Valuable
Here’s where an adviser can make a real difference:
1. You’ve hit a life transition
Marriage, divorce, children, relocation, career break, inheritance—these moments carry major financial implications. An adviser can help you map a plan that reflects your new reality.
2. You have no access to employer pension schemes
Without an automatic pension structure, expats must build retirement savings intentionally. Advisers can help design investment portfolios and income plans for later life.
3. You earn well but aren’t sure where the money goes
This is incredibly common. A good adviser can show you how to redirect surplus income into wealth-building strategies, without compromising your lifestyle.
4. You want to send children to international school or university
The costs are high, the timelines are long, and the inflation is real. You’ll need a structured investment plan—not just cash in the bank.
5. You plan to repatriate
Whether you’ll return to the UK, Australia, or elsewhere, an adviser can help bridge your Singapore-based life with your long-term home-country goals—without triggering tax or currency surprises.
6. You don’t want to DIY everything anymore
Some expats hit a point where managing every spreadsheet and market update becomes exhausting. Delegating can be both smart and liberating.
What Should an Expat Adviser Help With?
A quality financial adviser should do more than talk about products.
Here’s what they should offer:
Cash flow planning across currencies
Investment advice tailored to your time horizon, risk tolerance, and location
Education planning for international school and university
Retirement projections that account for different jurisdictions
Tax awareness (not advice—but they should work with your accountant or tax advisor)
Insurance reviews (life, health, critical illness, income protection)
Estate planning for global assets
Regular progress reviews and portfolio rebalancing
They should also help you avoid financial pitfalls unique to expat life—like becoming unintentionally tax resident in multiple countries, or holding accounts that could be frozen after a move.
What a Financial Adviser Should Not Do
Red flags to watch out for:
Selling high-commission products with hidden lock-ins
Offering “one-size-fits-all” portfolios
Recommending structures you don’t understand
Dodging questions about fees and total cost
Pushing “savings” or “bonuses” that sound too good to be true
Talking in jargon instead of plain English
A good adviser should be transparent, licensed, and focused on your goals—not theirs.
What About Fees?
Financial advisers are paid in one of three ways:
Fee-only: You pay an agreed fee for advice or a plan—no product sales involved.
Commission-based: The adviser earns money through product recommendations (e.g. insurance, investment platforms).
Hybrid: A mix of planning fees and product-based revenue.
In Singapore’s expat market, most advisers are hybrid. That’s not necessarily bad—as long as:
The fees are clearly disclosed
The advice is tailored to your needs
You understand exactly what you’re signing up for
If you’re unsure, ask for a full breakdown and always get it in writing.
Should You See an Adviser Even If You’re Not Ready to Invest?
Yes—especially if you:
Have a long-term goal (e.g. career break, home purchase, retirement abroad)
Are unsure how to structure your savings
Want clarity on what’s possible with your income
Feel overwhelmed by the number of decisions to make
The best advisers work with clients in planning mode, not just those ready to hand over money to invest.
You don’t need to be rich to benefit from financial advice—you just need to have goals, complexity, and curiosity.
As an expat, your financial life spans borders, currencies, and systems. A good adviser won’t just help you grow wealth—they’ll help you stay on track, reduce risk, and make smarter decisions at every stage of your journey.
Wondering whether advice is right for you? Let’s have a low-pressure chat and see what you might be missing. Sometimes the smallest tweaks make the biggest difference.
Taking a career break is becoming increasingly common among expats—whether it’s to care for children, support a partner’s relocation, recharge mentally, study, or travel. But while a pause in your career might sound appealing (or necessary), the financial implications can be significant if you don’t plan ahead.
The good news? You can take time out without derailing your retirement or long-term financial wellbeing. It just requires forethought, structure, and a few key strategies.
Here’s how to financially prepare for a career break the smart way.
Why Career Breaks Are More Common for Expats
In the expat world, career breaks often aren’t “planned”—they happen because of external pressures:
A spouse is relocated, and you don’t have a job lined up.
You’ve moved countries frequently, and it’s time to reset.
Childcare or schooling makes full-time work unsustainable.
Burnout hits hard after years in high-pressure roles.
Whatever the reason, stepping back from work can feel liberating—but also unsettling if you’re used to earning, saving, and investing consistently.
The Financial Risks of a Career Break
Without proper planning, a career break can:
Disrupt your savings habit.
Erode emergency funds.
Delay retirement planning or pension contributions.
Leave you uninsured or underinsured.
Affect your financial identity, especially if you pause for multiple years.
That’s why it’s essential to treat a career break not as a spontaneous exit—but as a financial transition that requires its own plan.
Step 1: Set a Clear Time Frame
Are you stepping away for six months? A year? Indefinitely?
Being honest about the expected duration helps shape every other financial decision:
Short-term break (under 1 year): You might lean on cash reserves and pause contributions temporarily.
Medium-term break (1–3 years): You’ll want a more structured drawdown strategy and investment plan.
Open-ended break: Time to think seriously about sustainability, protection, and long-term income planning.
Even if plans change, having a clear starting assumption helps anchor your budgeting.
Step 2: Build a Dedicated “Career Break Fund”
Just like you’d save for a house deposit or holiday, you should save specifically for your time off.
Your fund should cover:
Essential living costs (rent, groceries, utilities)
Personal expenses (insurance, transport, phone, etc.)
One-off costs (moving expenses, visas, study fees)
Use your current monthly expenses as a baseline, then multiply by the length of your planned break. Add a 10–15% buffer for good measure.
Example
If your monthly costs are S$7,000 and you’re planning a 12-month break:
S$7,000 × 12 = S$84,000
Add buffer: + S$8,400
Total target: S$92,400
Start building this fund before you step away—ideally over 12–24 months, depending on your timeline.
Step 3: Reduce Financial Leakage
One of the best ways to stretch your career break fund is to lower your monthly outgoings.
Before you stop working, review:
Subscription services: What can you pause or cancel?
Housing costs: Could you renegotiate rent or downsize?
Debt repayments: Can you clear high-interest loans before the break?
School fees: Do you have flexible payment plans in place?
Lifestyle extras: Dining out, gym memberships, shopping habits—can these be pared back temporarily?
Cutting just 10–15% of your monthly spending can extend your time off without touching your investments.
Step 4: Protect Your Future Self
This step is often overlooked—but it matters hugely.
When you’re not earning, you’re also:
Not contributing to retirement savings.
Not building your investment portfolio.
At risk of losing insurance coverage (especially employer-provided).
Exposed to health or life shocks without backup.
Here’s what to do:
Keep essential insurance in place: Health, life, critical illness and income protection (if available).
Continue investing if you can—even small amounts to avoid stopping entirely.
Use options like SRS if you have taxable income before the break begins.
If you’re planning to re-enter the workforce, stay professionally connected to avoid an uphill climb later.
Your future self will thank you.
Step 5: Plan Your Re-Entry Early
While it might seem premature, it’s wise to think about your return to work before you step away—especially if you’re taking more than a year.
Consider:
How long will it take you to find a job again?
Will you return to the same industry or pivot?
Do you need to upskill or study during your break?
Is your professional network still active?
Having a clear re-entry strategy helps you budget more accurately, stay motivated, and avoid letting a short break turn into an unplanned long-term exit.
Bonus: If You’re a Trailing Spouse
Many career breaks among expats happen because one partner is relocated, and the other presses pause.
This can be deeply rewarding—but also emotionally and financially challenging.
Tips for trailing spouses:
Open individual bank/investment accounts to maintain autonomy.
Keep up with pension contributions if possible (e.g. UK National Insurance voluntary contributions).
Stay engaged—freelance, consult, or upskill if time allows.
Create your own financial plan, not just one merged with your partner’s.
Independence doesn’t have to mean separate everything—but it does mean knowing where you stand.
What Not to Do
A few common pitfalls to avoid:
Don’t assume you’ll “just figure it out” month to month—have a plan.
Don’t rely solely on your partner’s income without reviewing your joint financial plan.
Private school fees in Singapore are one of the largest—and often most emotionally charged—expenses for expat families. Whether you’ve just arrived or you’re years into island life, it’s common to feel overwhelmed by the price tag and unclear about how best to plan for it.
This guide will help you step back, breathe, and take a strategic approach to funding your child’s education—without derailing your retirement or long-term financial goals.
Why Schooling Costs Catch Expats Off Guard
When families first move to Singapore, schooling decisions often happen fast—usually as part of a relocation package or under time pressure. But once you’re settled, the true cost becomes clear.
Here’s why the fees feel so steep:
Local schools are not typically available to expats, meaning private international schools are often the only viable option.
Fees can exceed S$40,000–S$60,000 per year, per child, not including extras like enrolment fees, uniforms, exams, and extracurriculars.
Many families have two or more children, multiplying the financial impact.
If you’re here for several years, the total cost over time can hit six figures easily.
If you plan to support your child through university, consider a separate savings plan—potentially with a longer investment horizon, and ideally tax-efficient.
Education is one of the most meaningful investments you’ll ever make—but it should never come at the cost of your own financial wellbeing.
With some forward planning, you can:
Reduce stress around tuition payments
Maintain a healthy balance with your retirement and lifestyle goals
Build in flexibility, in case your plans change
Need help building a school fee strategy that fits your family and your future plans?
Let’s have a chat—I’ll help you plan ahead with confidence, clarity, and calm.
Retirement planning is one of those topics that feels miles away—until suddenly, it’s not. As a private wealth manager in Singapore, I’ve seen the same pattern again and again: smart, successful expats who’ve worked all over the world, yet when it comes to retirement planning… they’re either winging it or getting tripped up by common misunderstandings.
Singapore is a unique place to build wealth—but it also comes with its own quirks and blind spots, especially if you’re not here forever. So let’s cut through the confusion.
Here’s what many expats get wrong about retirement planning while living in Singapore—and how to get it right.
Myth #1: “I Don’t Need to Think About Retirement Yet”
Let’s start with the most common mistake: procrastination. Retirement feels far off—especially if you’re still in your 30s or early 40s. And when life is good in Singapore, it’s easy to prioritise travel, school fees, dining out, and spontaneous weekends in Bali.
But here’s the truth: the earlier you plan, the easier it is.
Small, consistent action now beats trying to catch up later. The magic of compounding means that money you invest today could be worth far more than the same amount invested in 10 years.
Retirement planning isn’t about locking away all your fun—it’s about future-proofing your lifestyle so that you can keep enjoying life on your terms, even when you stop working.
Myth #2: “I’ll Just Sort It Out When I Move Home”
This one is particularly risky. Many expats assume they’ll return to their home country—whether that’s the UK, Australia, the US or elsewhere—and deal with pensions and retirement plans then.
But delaying can cost you:
You may miss years of tax-efficient investing while you’re in Singapore.
You may be moving back into a higher-tax environment, reducing your ability to catch up.
Life happens—you may not end up back where you thought, and your plans could stay in limbo.
Instead, view your time in Singapore as a strategic wealth-building window. Even if you’re unsure where you’ll retire, you can still lay the groundwork now with flexible, globally portable retirement structures.
Myth #3: “Retirement Planning = Pension Planning”
Pensions are just one piece of the retirement puzzle.
Yes, traditional pensions (like the UK’s defined contribution schemes or Australia’s superannuation system) are helpful—but as an expat, your retirement plan may also include:
Investment portfolios (mutual funds, ETFs, index strategies)
Property (residential or rental income-generating)
Business interests
The Supplementary Retirement Scheme (SRS) in Singapore
Cash flow strategies and tax-optimised drawdown plans
A modern retirement plan is multi-layered, and should be based on cash flow, tax efficiency, and geographic flexibility—not just pensions in the traditional sense.
Myth #4: “I’ll Downsize or Sell My Property Later to Fund Retirement”
If you’re relying on selling your home (or an investment property) as your main retirement strategy, that’s a red flag.
While property can absolutely be part of your retirement plan, it should rarely be the whole plan. Here’s why:
Real estate is illiquid – You can’t sell off a bathroom when you need cash.
Markets fluctuate – You may not be able to sell at the ideal time.
You still need income – Owning a property doesn’t automatically generate monthly income unless it’s rented out.
A solid retirement plan should include liquid, income-producing assets you can tap into gradually—without having to sell the roof over your head.
Myth #5: “I Can Rely on Government Schemes”
Here in Singapore, it’s easy to assume there’s a national safety net. But unless you’re a PR or citizen, you’re likely not eligible for CPF, which is the main retirement savings vehicle for locals.
However, you can use the Supplementary Retirement Scheme (SRS)—and many expats don’t realise just how powerful it can be.
Key SRS highlights:
Open to foreigners, PRs, and citizens.
Annual contribution cap for foreigners: S$35,700.
Tax relief on contributions (lowering your taxable income in the year you contribute).
Funds grow tax-deferred until withdrawal.
After the statutory retirement age, only 50% of withdrawals are taxable.
If you’re a higher-income expat, SRS is one of the few tax-efficient tools available to you in Singapore—use it wisely.
Myth #6: “I’ll Just Rely on My Partner’s Plan”
This one crops up more than you’d think, especially in dual-income households where one partner manages the finances.
But putting your retirement future solely in someone else’s hands isn’t a plan—it’s a gamble.
Whether you’re the primary breadwinner or not, every individual should have:
A clear view of their personal retirement trajectory
Access to their own investments and savings
A backup plan in case of relationship changes, relocation, or unexpected life events
In short: you deserve financial independence, no matter your relationship status.
Myth #7: “I’ll Just Keep Doing What I’ve Been Doing”
This might be the most dangerous myth of all. It assumes that the strategy that worked in your home country (or your 20s and 30s) will continue to serve you now.
But as you grow your wealth and your life becomes more complex, so must your planning:
Your tax situation changes if you move countries.
Your time horizon shortens as you approach retirement age.
Risk tolerance evolves, especially if you’re supporting a family.
What worked before may not work forever. That’s why periodic reviews—especially with an adviser who understands expat-specific financial planning—are so important.
What To Do Instead
So, if these are the myths… what should you do instead?
Here’s a quick checklist for smart expat retirement planning in Singapore:
Start now – Even small monthly contributions can add up significantly.
Use SRS wisely – It’s a rare and valuable tool for expats.
Diversify – Include liquid investments, not just property or pensions.
Build in flexibility – Your plan should work whether you stay in Singapore, move home, or relocate again.
Plan for income – Retirement is about sustainable cash flow, not just asset value.
Get global advice – Cross-border tax and wealth planning is essential for expats.
Retirement planning doesn’t have to be rigid or boring. Done right, it’s empowering. It’s the process of designing a future where you get to choose how you spend your time, your energy, and your resources.
And the sooner you start, the more freedom you’ll have.
Want help crafting your expat retirement plan?
Let’s build a flexible, tax-smart strategy that’s truly aligned with your goals—wherever in the world they take you.
If you’re an expat in Singapore and you’re planning your next move—whether it’s heading home, relocating for work, or embracing a new adventure—there’s one area that often gets overlooked: your investments.
Unwinding your financial life here isn’t always simple. Done well, it can leave you in a stronger position than ever. Done poorly, and you could face losses, tax issues, or missed opportunities.
Here’s what you need to consider.
1. Map Your Investment Landscape
Start by taking stock of everything you hold:
Singapore-based investments – Unit trusts, SGX stocks, local portfolios.
Foreign assets – Property or investments overseas.
Retirement schemes – Including any employer-provided funds or SRS accounts.
Knowing what you own—and where—is the foundation for planning your exit.
2. Understand the Tax Implications
Singapore’s tax system is attractive, but once you leave, things may change:
Your tax residency ends once you stop working or living in Singapore.
If you’re moving to a higher-tax country, capital gains may become taxable.
Selling investments before leaving may be more tax-efficient.
A tax-smart exit can save you thousands.
3. Review Your SRS Account
If you’ve contributed to the Supplementary Retirement Scheme (SRS):
You can keep the account open after leaving.
Withdrawals after retirement age are taxed at 50%.
Early withdrawals may face 24% tax for non-residents, plus a 5% penalty.
Get personalised advice to assess if you should access funds now or later.
4. Decide What to Keep and What to Close
Not all accounts travel well.
Keep:
Digital-first platforms with global access.
Low-fee accounts with flexibility.
Structures aligned with future estate planning.
Close:
Local-only access platforms.
Dormant or high-fee accounts.
Banks or brokers that require Singapore residency.
Check provider policies—some accounts may be closed automatically if you change residency. Be sure this aligns with your tax-efficient goals; some accounts may be easy to access overseas, but have terrible tax treatment in other jurisdictions.
5. Watch Your Currency Exposure
If your portfolio is mostly in SGD and you’re moving to a different currency zone:
Investing for Singapore Expats 