CPF fills first. Then equity takes over.

Methodology

Modelling a real Singaporean savings scheme

Same discipline as every US profile - a named government or industry survey per figure, median over mean where both exist - but Singapore's retirement system doesn't map cleanly onto Dispono's model. Household income isn't published by age of household head, so this profile uses the latest overall median (SingStat). A Singapore payslip has two deductions before cash is spendable - income tax (~3.7%) and the employee's own mandatory 20% CPF contribution - so income-1 combines both into one ~24% rate, computed from IRAS's 2025 brackets for a two-earner household. The employer's own 17% CPF contribution (CPF Board's 2025 rate table, S$1,920/mo) is real money the household has, added as a separate, untaxed income line.

This version models three things the way the profile's owner specified, all within the real limits of Dispono's engine:

• CPF as fixed income, savings beyond it as equity. The target allocation is a 40% Fixed Income / 60% Equity split with annual rebalancing off. Because Dispono sizes each cohort's target against the whole portfolio - which counts the S$628,000 flat - the CPF fixed-income anchor starts below its 40% share and fills first; equity stays at S$0 until about 2034, then receives the bulk of new saving and compounds into the larger long-run pool. That reproduces the real Singaporean pattern: mandatory CPF dominates early-career saving, discretionary equity investing ramps up later once income has grown and the HDB loan has cleared.
• The children's cost ends when they finish school. The S$1,058/mo children's-education figure (SingStat HES 2023, married couples with a school-aged child) is now a bounded recurring cash flow that stops in mid-2037, when a representative youngest child reaches ~23 - Singapore's statutory parental maintenance runs to 21, extended for tertiary study, and all Singaporean males do 2 years of National Service before university.
• The mortgage. Singaporeans really do pay their HDB loan from CPF; Dispono pays it from the household's combined cashflow. The total-wealth outcome is identical either way - a dollar of mortgage is a dollar of net worth whichever account it leaves - so we keep it simple and note the difference here rather than distorting the numbers to force it.

Two honest limits, disclosed rather than hidden: Dispono routes total surplus by one portfolio-share target, so it can't send the employer-CPF dollar specifically to fixed income while sending take-home savings to equity - the split is by share, not by source. And a bounded cash flow isn't inflation-adjusted and drops out of the near-term Cash-pool / Liquidity / Flexibility gauges (which read the recurring budget only), though it's fully present in the projection and the assets-at-84 measure.

Outcome · Cashflow

The 2026 budget

Salary, the employer's CPF contribution and CPF interest come to exactly S$164,408 against a S$164,408 budget, with S$44,703 of surplus invested. The children's-education cost shows S$7,406 - only its first partial year (it starts mid-2026 and will end in 2037). On top of the S$27,348 HDB loan payment and the combined 24% tax-and-CPF deduction already taken off salary.

Both bars climb for over two decades. Three milestones shape the working years: the children's cost ends in 2037 (freeing the whole S$1,058/mo for saving), the HDB loan clears in 2041 at age 55, and work stops in 2049 at 63. Four real years, in the same category detail as 2026:

Dividends now appear in income (S$3,078) - the equity pool has started growing, the CPF-first phase handing off to the equity phase. From 2038 the children's cost is gone entirely.

A gap year - no salary, no CPF LIFE yet (starts 65). Interest off the CPF/fixed-income balance (which peaks this year at ~S$1.33M) plus equity dividends nearly cover the whole budget; only a modest withdrawal tops it up, and total net worth still grows. The mortgage cleared at 55 (2041, down to S$52), so housing is long behind them.

At 84, CPF LIFE and equity dividends together cover most of the budget, with interest and a small withdrawal filling the rest. Income equals expenses exactly, as every year - the plan never comes up short.

Outcome · Investments

Two pools, opposite shapes

At 40, net worth is S$508,079 - more than double any US profile's start in this series, mostly because CPF is already a large, mandatory asset by this age. From here the portfolio grows every single year to S$4,536,116 at age 84 (its highest point ever), but the two savings pools move in opposite directions along the way.

Outcome · Analysis

What Dispono's risk analysis finds

Debt-to-income reads green ("Comfortable," 17%) because the employer's CPF contribution counts as real income. Assets at 84 reads "Unspent wealth" (36×) - the 60% equity sleeve compounds into a large terminal balance, and the children's cost ending in 2037 frees up even more to invest.

Stress-testing the plan

Same five scenarios as every US profile. Nothing pushes the rating out of "Unspent wealth," but unlike the earlier all-fixed-income version of this profile, the equity sleeve now gives the plan real - if well-cushioned - market exposure.

"Crash early" is byte-identical to Baseline - but for a real structural reason, not luck: in 2026 the equity position is still exactly zero (CPF fills first, so equity doesn't start growing until ~2034), and a −30% shock to nothing is nothing. "Crash mid-way" (2051) and "Lower returns" tell the real story: by then decades of saving have built a substantial equity pool, and both stresses knock a million-plus off the terminal balance. The plan absorbs it comfortably - but the exposure is genuine now, which is exactly what modelling those savings as equity, rather than fixed income, buys you: more growth, more market risk.

Key insights

What this profile actually tells you

Four findings from this model, each backed by the real Dispono output above.

Read the whole picture

Three numbers worth remembering

The average 40-year-old Singaporean starts with S$508,079 in net worth - more than double any US profile in this series, thanks to a mandatory CPF balance that's already substantial by this age. Modelled the way a real household runs it - CPF as fixed income filling first, then a global equity fund for everything saved beyond it, with the children's cost ending at their graduation - the plan grows every single year to S$4,536,116 at age 84, its highest point ever. The CPF pool peaks at S$1,331,230 around age 64 and funds the early retirement years; the equity pool, starting from zero, compounds past it to S$2,713,765 and becomes the household's largest asset. The tradeoff is real on both sides: less discretionary room today (the lowest Flexibility score in the series) and genuine market exposure in the equity sleeve, in exchange for a plan that never runs dry.

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