In the 50’s, your children are in university and only a decade more to go before retirement.

Using retirement savings to pay for child’s education

If you have children, it is not wrong to help pay for their tertiary education related expenses, but not at the expense of your retirement savings. Too many parents sacrifice their retirement savings and withdraw from their EPF in favour of their children’s education. Put your retirement needs first and do what you can to save for both, which is why its important to start planning for both as early as possible.

Investing like you are in your 30′s

As you are nearing your retirement you become even more protective of your savings in your 50′s. Considering the fact that you could be living well into your 80′s or 90′s, you require a substantial amount in retirement. Simply preserving capital is not a sustainable financial strategy, the money must be put to work. While investing money in an investment is risky, it is equally risky for if the money is kept under the mattress. So make sure you keep growing your nest egg well into your 50′s and beyond, to combat against inflation and support you financially.