Mr Tan, What are your views on the raised retirement age? This would mean that an adult who joined the workforce at 25, has 40 years working. Does it change any traditional assumption that you make when planning, considering the assumption has always been 25 years? REPLY In my financial planning tool, I advise people to plan for retiring at age 65. If they start work at 25, they have a working career of 40 years. They have to be prepared to be out of work for a few years during this period, due to voluntary or involuntary termination of employment. They can plan for a few years of further education, if their finances are adequate. I advise people to buy term insurance for 25 years only, say from age 25 to 50 years. When they reach age 50, they should have adequate savings in the event of premature death ......