What is an ideal savings rate?

Socio-Economic Research Centre executive director Lee Heng Guie (pic) said that setting a strict amount to save could be difficult and would usually depend on a person’s financial commitments.

THE unprecedented Covid-19 pandemic has got many people into the habit of saving even more money to prepare for any worsening of the economy, according to recent banking statistics.

But the pertinent question here is how much is an ideal savings rate that one can realistically adopt in the current circumstances.