Most of us think that saving for our retirement can wait. For the young ones (like me :P), we're busy saving up for our upcoming BTOs, wedding, children etc. With these impending life stages, should I plan for my retirement now? At age 25?
To help me answer my question, I'll be using the
DBS Retirement Planner which I chanced upon when doing ibanking and answer the following questions:
- When would I want to retire?
- Honestly, IDK. The thought of working for another 40 years, till 65, make me quiver. Yet, the reality is that, without income, my family and I would find it hard to survive in this world. Also, I'm not entrepreneurial and could imagine myself in my 9-5 office job foreverrrrr....So, 65 shall be the age I envision myself to retire!
- What is my desired monthly income during retirement @ 65?
- As ......