Have you ever think that one day, it will come the time when you are no longer productive and generating income for your own-self. How are you going to sustain your life day-to-day without income? Are you going to knock your kid’s door if you are lucky enough to have one and ask for their money for food and living? Maybe all these might be too early to discuss. You probably imagine your self still have another 30 good years to go before you are worried about all this.
But time flies, opportunity does not come twice and life evolve to the next challenge who knows what it might be. Our life now might not be the same with the next generation to come. Life might be harder and harder to strive on.
You are lucky if you live in a country that provides the social security benefit for old days/ retirement. In this country the government support you fully during your old age. They provide you home, food and some extra money probably. Otherwise! Without all these how you are going to sustain your life?
Before it is too late and while you are in your productive year, why don’t we start looking for any retirement saving plan. There are a lot out there in Singapore. I know some companies provide a good program and affordable plan. The early you start the better benefit you will earn later on and the lower premium you have to pay every month.
in Singapore I see a lot of old people are still working in the service industry like fast food restaurant, Mc. Donald or public service area as cleaners or helpers. Sometimes it is hard to see them still struggling with their life everyday. I might be wrong, probably they are doing that for the sake of their boredom. They want to go out the house, meet some friends while earning money and do not want to depend on their child. If these are not the case, can you imagine how hard the life would be for them?
Back home in my country, people can survive better during their old days, they can go back to rural area, purchase cheaper land and house and start farming. They can basically live their day-to-day life from the farming.
In UK or USA, a lot of them enjoy their retirement benefit. They can afford to go travelling or happy doing volunteering work outside home.
But in Singapore, it is hard! It is not easy to be like them. Land is very expensive and limited, the old time retirement from the social security benefit is not much. Therefore the government had actually emphasizing on saving for old retirement plan during the productive years. Read this article for some tips from the government.
My husband is very thrifty with what he spend. The first time I came to Singapore, I thought everything would be easy, the country is rich as well as the people. This can be an illusion if we are not careful enough. Now I can understand why we have to be thrifty living in Singapore. I can appreciate my husband opinion on this matter. Because we don’t live just for today, this month and this year! We are hoping many more good years to come.