< p class="MsoNormal" style="text-align: justify;">Last week, there was an article in the Straits Times, titled “Moving from financial stability to financial abundance takes Singaporeans 32.3 years”.
As usual, when it comes to the topic of retirement… it caused quite a stir online. Based on social media comments, the overwhelming sentiment seems to be that these numbers are ridiculous – that in Singapore, it is nearly impossible to achieve financial freedom / financial abundance, apart from maybe striking the lottery (or birth lottery).
To summarise what the article mentioned, the survey found that from a starting point of financial stability, it took:
6.1 years to reach financial security; defined as being able to invest on top of saving a portion of income.
An additional 6.5 years (cumulatively 12.6 years) to reach financial flexibility; defined as having sufficient financial investments and assets to cover living expenses for
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