I get this question a lot. People want to know how much ‘the herd’ is saving. Being in Singapore where the herd mentality is quite prevalent, it delighted me as I chanced upon this new app called CPF Starter on the App Store.
It crowd sources financial data from Singaporeans who download this app and you can benchmark yourself against the many others using this app as well. Besides comparing yourself to others, the app also allows you to key in your salary and it shows you your CPF contributions, gives you explanations on what CPF Life is all about and also helps you calculate how near you are to retirement.
So given that people always want a benchmark to see how well they’re faring in terms of savings? This is by far the best thing I’ve seen to date. Happy saving.