If you spend money to live, you should have a shopping annuity. As opposed to setting aside your discretionary income every month for a traditional annuity, a shopping annuity is money you already spend that’s converted into an earning.
According to the Department of Statistics Singapore,
An average Singaporean Family makes $111,516 every year
However, it turns out that the average family spends $58,872
That doesn’t leave a lot at the end of the year if you want to do some investing in your future. However, what if instead of looking for extra money to start investing, you can take that already spent money, in this case, $58,872, and use THAT as an investment since you are already spending it regardless?