Outliving Your Savings: The Retirement Nightmare No One Talks About

By John Whittaker

You’ve built a life overseas, worked hard, and likely set aside money with retirement in mind. But there’s a difficult question that many expats in Singapore quietly carry with them. What if you outlive your savings?

It is not something people talk about openly, yet it is a growing concern. Living longer is a gift, but without the right planning, it can also become a financial challenge. Especially when your retirement does not follow a traditional path.

Longevity Is a Gift That Requires a Plan

Thanks to modern healthcare, many of us are living well into our 80s and 90s. For expats, this means your retirement could last 25 to 30 years or more. That is something worth celebrating, but it also raises a critical issue. Your money needs to last just as long.

Unlike citizens and permanent residents, most expats are not entitled to CPF retirement payouts. You may not have access to affordable long-term care or subsidised healthcare. If you plan to return home, you might face higher living costs or limited access to government benefits there as well. The financial safety nets others rely on may not be available to you.

When retirement plans fall short, the consequences are more than just financial. Running out of money can affect your independence, your ability to access care, and your peace of mind. It can also place an unexpected burden on your family, something no one wants in their later years.

Why It Happens and What You Can Do About It

Outliving your savings rarely happens because of one mistake. It is often the result of small oversights that build up over time. These might include underestimating how long you will live, relying on overly optimistic investment returns, or forgetting to plan for rising healthcare costs.

For expats, the risks are even higher. Your assets may be scattered across countries. You may have gaps in insurance coverage. You may not know whether your plan is still on track because of changes in tax rules, exchange rates, or where you plan to retire.

The good news is that these risks can be addressed. Here are three steps to help protect yourself from outliving your savings:

1. Create a Cross-Border Retirement Plan

Work with a financial advisor who understands both your current situation in Singapore and the retirement system in your home country. This includes understanding how to optimise your global assets, reduce unnecessary tax leakage, and convert savings into sustainable income.

2. Stress-Test Your Plan Against Longevity

Plan not just for an average retirement, but a long one. Use conservative projections for returns, inflation, and spending. Run scenarios that show what happens if you live into your 90s or need long-term care. It is better to overprepare than come up short.

3. Prioritise Flexibility and Liquidity

Avoid locking up all your money in illiquid investments. Retirement can bring surprises, and having access to cash or flexible income sources can help you adapt without derailing your entire plan.

Let’s Have a Pressure-Free Conversation

If the risk of outliving your savings worries you, you’re not alone. The first step is to explore your options and start planning for a secure retirement. When you’re ready, you’re welcome to schedule a consultation with me to review your assets and prepare confidently for the future.

John Whittaker is a Financial Planner and Wealth Manager at Global Financial Consultants Pte Ltd based in Singapore.

With years of experience helping Expats and Professionals manage, grow, and protect their wealth – he offers practical, personalised advice tailored to your goals.

If you’d like to explore how he can help you, feel free to book a free consultation or connect on LinkedIn.

John Whittaker is an Authorised Representative of Global Financial Consultants Pte Ltd – No: WJE300421316 | MAS License No: FA100035-3

To learn more about how he might be able to help you, please contact John:

Phone Number: +65 8331 7103

Email: john.whittaker@admin.gfcadvice.com

LinkedIn: linkedin.com/in/john-whittaker-8bbab6138

General Information Only: The information on this site is of a general nature only. It does not take into account your individual financial situation, objectives or needs. You should consider your own financial position and requirements before making a decision.

*Please note that John Whittaker is not a tax agent or accountant and none of the content outlined here should be taken as personal advice. You should consult your tax agent and financial adviser to review your current personal finances and financial goals to consider whether this strategy is appropriate for you.