The latest OCBC Financial Wellness Index reveals a concerning trend: the percentage of Singaporeans actively planning for retirement has dropped from 60% to 54%. This means that nearly half (46%) of respondents have not begun preparing for their retirement. Alarmingly, one in four Singaporeans only plans to start—or has just started—retirement planning in their 50s or later. This delay in planning could have significant consequences for financial security during retirement. Starting early provides more time to grow savings, benefit from compounding interest, and navigate unexpected life events without derailing retirement goals. Retirement planning should begin as soon as you receive your first paycheck. Establishing good financial habits early ensures a more comfortable and stress-free retirement. Below, I share my thoughts on why it is important to start early. For those interested, here is the full OCBC survey. It is about compounding. It’s essential to start saving and investing as early as possible to maximize the benefits...