According to the Straits Times article, Singaporeans tend to start saving earlier for retirement. That’s a good sign and I have met many young people who are already thinking about planning for retirement. However, more than 50% find that they are not on track to meet their financial goals. That’s alarming as even though they start saving early, they are still unable to meet their financial goals. It could be due to various reasons. 1. Insufficient Savings Set Aside From Income Insufficient savings is one of the main reason for being unable to meet financial goals. Even though they claim to be saving, they could still be undersaving relative to their gross income levels. Overspending or undisciplined use of credit can contribute to insufficient savings. At least 10% of gross income is recommended to be saved annually. 2. Poor Risk Management A major disease or accident can lay waste to ......