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Whether we are happy or not, the day of our retirement will come. It may come earlier or later than we expect, depending on our luck and strategy to stay ahead in our senior years. It will be fortunate if we are able to work like our MM Lee at a ripe old age of 85 earning $3million a year and enjoying what he is doing. But I don’t think everyone of us will be that lucky under a highly competitive and intense environment like Singapore where talents from every corner of the world are completing with us.
As a Financial Planner in my early 30s, I’d met many people of around my age and get the privilege to understand how they feel about retirement. I also get to see the challenges faced by Singaporeans in accumulating this nest egg when there are always so many other things in life that grab away our retirement monies.
I am far from retirement age but I always believe that that we have to plan for it as young as from our first pay-cheque regardless how little we may start out with. Failing to start early and consciously will mean more challenges as we get older. Today, I will also like to share my views on these challenges towards retirement planning. Read more...