When Huiqi (not her real name) decided to retire at the age of 37, she knew that her lifestyle choice represented an opportunity cost: Retiring early meant that she would be not be able to own a home or buy that fancy car, but it would give her the freedom to enjoy the independent life she'd always wanted.
In the past year since she's retired, the 38-year-old former business consultant has travelled extensively, and redirected her efforts to helping the community through numerous volunteer activities.
For Huiqi, the prospect of remaining in the endless rat race was not aligned with her values. "A lot of decisions are supported by the overall picture and what's important to [the individual]: I had to ask myself, do I want to look rich, or do I want more time freedom? It was pretty easy to convince myself."
She might shop at "swop meets" and not be able to afford fancy meals, but for her, the sacrifice is worth it.
For many others, however, retirement conjures up images of leisurely business class trips to Europe, weekly golf sessions, and a private condo to boot - and why not? We work incredibly hard, and it's normal to aspire to an upwardly mobile lifestyle.
A 2022 OCBC survey revealed that 34% of Singaporeans in their 20s want to retire in style. That means: living in a private property, owning a car, and travelling regularly. Calculations reveal that such a lifestyle would cost about $6,000 a month.
When Her World polled 800 women for the What Women Want 2023 survey, we found that the average Singapore woman believes that she needs around $880,000 in savings to retire.
Huiqi's goal was $600,000, but she quickly points out that it's not just about achieving that magical number, but also about "making sure you have systems in place that can generate money".
هذه القصة مأخوذة من طبعة July 2023 من Her World Singapore.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July 2023 من Her World Singapore.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
What Are Some Watches That Double As Pieces Of Art?
The Bvlgari Fenice High Jewellery watch is a spell-binding expression of the Italian jeweller's audacious aesthetic.
Getting To The Seoul Of K-Beauty
The days of complex 10-step skincare routines may be behind us, but K-beauty's skin-first approach continues to dominate markets worldwide. Here's a closer look at the phenomenon.
My Super Power Is Saying No
It's 2009, and some 1.67 million Singaporeans are tuning into the two-hour finale of the hit Chinese language series The Little Nyonya, transfixed by the multi-generational saga of three Peranakan families.
New York State Of Mind
Inspired by the Big Apple, Coach's new Times Square Tabby is an amalgamation of the city's love stories, both old and new.
Building Safer Workplaces
As an increasing number of workplaces are understanding the importance of mental health, we ask three leaders what it will take to move the needle to create environments where we can speak up, challenge the status quo, and have our needs met.
What Beauty Routine Should You Follow If You Have Eczema?
Quinn Chen, co-founder of Singapore beauty brand, Ice's Secret, answers.
A Mid-Career Change Is Not A Crisis
A mid-career switch, while daunting, can be the key to unlocking a more fulfilling and aligned professional life.
It's Cool To Get Cold
Ice baths are popping up around Singapore, waiting for you to take the plunge.
Will joining a breast cancer support group help me with my healing journey?
Emily Goh, senior medical social worker, answers.
PASSION FOR A CAUSE
Rebellion of the academic sort - runs in Anna Yip's blood. The deputy CEO of Singtel Singapore tells us how self-love, confidence, and a passion for tech guide her as she leads one of the nation's most established telecommunications companies into the future.
