Anonymous
How early should you plan for retirement?
Some people say now, but for me, who just joined the workforce not long ago, how do I get to do so? And some others say once you're more settled in your adulthood. What will your advice be?
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Josh Tan Jian Liang
10 Jan 2019
Co-founder https://theastuteparent.com at Promiseland Independent Pte Ltd
When you are more settled. Focus on what's ahead of you first. Your career and your own development. You can check my video on it
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Gabriel Tham
01 Jan 2019
Tag Team Member at Kenichi Tag Team
As early as you can.
If you only start planning for retirement when you are about to retire, then there is not much that can be done to grow your nest egg.
Time is a crucial element in growing wealth and there is no better time than now. Of course, one has to factor in other big life stages like buying house, married, kids etc so these might be a higher priority. But always keep retirement planning in sight.
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Loh Tat Tian
30 Dec 2018
Founder at PolicyWoke (We Buy Insurance Policies)
I think it really depends on what you want to achieve.
If you are looking for big house, big car, country club membership etc, you might want to actively focus on getting more income as you go along your career.
If you are contented with HDB, not too much luxuries, simple life for retirement, you can consider setting targets now. When you want to get married. Etc etc
The best way though, is live below your means, achieve Financial independence early, and your retirement is all set.
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Jonathan Chia Guangrong
30 Dec 2018
SOC at Local FI
Now if you can, and as aggressively as you can. You won't want to be unable to retire at 65 or whate...
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My only regret is that I didn't plan my retirement 10 years ago when I started my first job, it is better to start now (or yesterday) than tomorrow...
it doesn't mean that you have to compromise your lifestyle when you start planning your retirement now, it just means that you should have a clear long term goal and you start working towards it.