Am I saving and/or investing less than the average Singaporean?

If you have ever wondered whether you are putting aside enough money compared to others in Singapore, you are not alone. It is one of the most common financial worries here: “Am I saving enough?” and “Am I investing enough?”

The good news is there is data to help you benchmark yourself:

How much do Singaporeans save?

According to the Department of Statistics, the personal savings rate in Singapore has consistently hovered around 35–40% of disposable income in recent years. In Q4 2024, the figure was about 37.6%.

That is high compared to many countries, and a big reason is our compulsory CPF contributions. For employees below 55, up to 37% of wages goes into CPF, split between employer and employee.

But here is the catch: While your CPF counts as “savings” on paper, many Singaporeans struggle to save extra cash on top of CPF.

Friendly benchmark:

• If you are setting aside 20–30% of your take-home pay (cash savings, not counting CPF), you are doing well.
• If you are below 20%, you may want to take a closer look at your spending.

How much do Singaporeans invest?

Saving is only half the story. With inflation eating into cash, investing is what helps money grow.

An OCBC survey found that 68% of Singaporeans invest, with the average invested sum around SS$20,000. Younger Singaporeans (25–44 years old) reported investing about 15–17% of their salary.

Common choices include:

• Stocks & ETFs (via brokerages or robo-advisors)
• Unit Trusts (often through banks)
• Insurance-linked investments
• Property (though this requires a much higher entry point)

Friendly benchmark:

• If you are investing 10–15% of your salary, you are in the same ballpark as most.
• If you are just starting, even small amounts (e.g. SS$100–200 a month) count — consistency matters more than lump sums.

Savings and investments by age

Now, here is where it gets even more useful. Based on surveys, here is what the average Singaporean typically has saved or invested by age:

20s (Early career)

• Savings: ~SS$10,000–20,000 (by late 20s).
• Investments: Most just starting; many keep SS$5,000–10,000 in cash or simple robo-advisor portfolios.
• What this means: If you are saving at least 20% of your pay and have begun investing even small amounts, you are ahead of most peers.

30s (Building & juggling)

• Savings: ~SS$50,000–100,000 (but varies depending on housing downpayments, wedding costs, kids).
• Investments: Often crosses SS$20,000; many start CPF top-ups or insurance-linked investments.
• What this means: If you are maintaining a 25–30% savings rate while managing loans and family costs, you are on track.

40s (Peak earning, peak expenses)

• Savings: ~SS$150,000–250,000.
• Investments: Often crosses SS$50,000–100,000; property may form a big part of net worth.
• What this means: At this stage, the danger isn’t “not saving enough” but lifestyle creep. Keeping to 20%+ savings while investing consistently is the real win.

50s (Catch-up & retirement planning)

• Savings: ~SS$300,000–500,000.
• Investments: Many have six-figure portfolios, with CPF balances forming the bulk of retirement wealth.
• What this means: If you are on track to hit the CPF Full Retirement Sum, you are aligned with national averages.

60s and beyond (Retirement ready)

• Savings/Investments: Varies widely, but the CPF Life payout is the key baseline. Most Singaporeans at this age rely on CPF plus some cash or rental income.
• What this means: Having multiple income streams (CPF Life + investments + maybe property rental) offers much more flexibility.

Why these averages matter (but only so much)

It is tempting to compare ourselves to these benchmarks, but remember:

• Family commitments (childcare, housing loans, elderly care) can impact how much one can realistically save.
• CPF still plays a huge role in Singapore. By retirement, most Singaporeans accumulate significant CPF balances, even if their cash savings look “small” along the way.

So do not beat yourself up if you are below the averages right now. Instead, use them as guideposts.

How to boost your saving & investing game

Here are some friendly, Singapore-specific ways to catch up if you feel behind:

• Automate savings: GIRO-transfer a fixed percentage of your salary into a separate account each month. Treat it like a bill you must pay.
• Use CPF wisely: Top up your CPF Special Account for higher guaranteed interest if you are not investing aggressively.
• Start small with investing: Some platforms let you begin with as little as SS$100.
• Take advantage of NCD (no child dependents) years: If you do not yet have major family obligations, save aggressively early.  You will thank yourself later.
• Track progress, not perfection: Aiming for “better than last year” is more useful than comparing endlessly to others.

The bottom line

Based on recommended figures, the average Singaporean should aim for:

• In their 20s: SS$10–20k savings, small starter investments
• In their 30s: SS$50–100k savings, >SS$20k invested
• In their 40s: SS$150–250k savings, >SS$50k invested
• 50s+: Six-figure savings and investments, CPF forming the bulk

If you are anywhere near those numbers, you are doing fine. If you are below, the key is not to panic, but to adjust. Even small, steady steps today can put you far ahead tomorrow.

Because at the end of the day, money is not about keeping up with your neighbour. It is about building the safety, freedom, and options you want in life.