There’s a video which I came across from NTUC income that spoke about the many struggles we face especially those who need to start their own family and still have to provide for their parents. These people are the sandwich generation.
Here’s the video:
Financial planning in a way is not just for ourselves but also for the good of our next generation. If we do not want to burden our next generation, the wise choice will be to plan properly for our finances.
Unfortunately, life in Singapore will definitely get costlier over the years. Our next generation will be struggling for their own finances so we should not burden them with our retirement needs. As a working adult in Singapore where I am now planning to settle down, the financial planning part is indeed not easy as there are lots of cost to plan for. I’m fortunate that I started planning much