Retirement

Recently I read many articles about many singaporeans not having enough savings for their retirement etc. There are also articles about the sandwiched class n the middle income group who are suffering in this high cost country .

Personally I empathize with all these n agree that certain circumstances may cause certain groups of people to be disadvantaged in society . But I still believe that whether u are a high , middle or low wage earner, living within your own means is the singular most important criteria to determine your personal wealth .

Therefore prudent financial management of whatever wealth u have or may not have will determine your future personal life style. If u do not have the capabilities then don't live beyond your means like buying that expensive car , that private condo n that luxurious bags or suits. Sad to say that many young couples are caught pursuing these material needs n do not practise prudent savings.

I remembered our initial married years, when we kept a financial legend detailing our income n expenses n monitored our savings throughout. Lucky for us , we both belonged to the thrifty kind n we seldom indulge in expensive tastes material wants. So after nurturing two grown up ladies n years of good financial management, we have accumulated enough for our old age. Only now then we pamper ourselves with holidays abroad n occasional spending on good food n luxurious items.

We are also lucky to be blessed with relatively good health unlike some who are burdened by huge medical expenses. On the other hand I also believe that health is in our hands and we should learn to live a healthy lifestyle so as to protect our most important wealth - HEALTH.

To all my fellow singaporeans,it is still not too late to start your financial planning and do make sure that your children are taught good money from that young age.