When it comes to money matters, what you don’t know can hurt you. With retirement and re-employment ages for Singapore workers raised to 63 and 68 respectively come July 1, we can’t help but ask ourselves: How much harder or longer do we want to go on for?
If you, like us, fantasise about spending our silver years pursuing hobbies, we have both bad news and good. The bad news is that the path to financial freedom requires diligence, prudence and confidence; the good is that we have done part of the homework for you. Read on for the tips.
Anna Haotanto (AH), founder & CEO of The New Savvy, a financial, investments and career platform that seeks to empower women towards smarter financial decisions. She is also the managing partner & CEO at ABZD Capital, as well as managing director and chief marketing officer at Gourmet Food Holdings – both of which focus on investment opportunities in the food and beverage industry.
“I believe most women want investments that they can understand and afford, and aren’t overly risky. Some of them avoid or fear managing their money due to reasons such as lack of disposable income,” Anna says.
“Prioritise saving and investing your money as early as possible, so you can enjoy the effects of compounding. If you aren’t very disciplined, try automating your savings. One more thing: get yourself covered for medical expenses and hospital bills.”
This story is from the May 2022 edition of Her World Singapore.
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This story is from the May 2022 edition of Her World Singapore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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TREASURE ISLAND
When plans to demolish the Merlion Tower on Sentosa were announced in 2019, some Singaporeans were sad to see one of the island's most iconic attractions go. After all, the quirky creature – with the head of a lion and the body of a fish – had been a significant part of their memories of Sentosa.The 37m-tall, 12-storey structure, completed in 1996 and designed by Australian sculptor James Martin, was a focal point for laser light shows and projections that transformed its ivory facade into a vibrant display of colours.The Merlion Tower was a popular attraction for families. Singaporean couple Anand and Vrunda Patel would often take their children there for outings. Vrunda, now 50, fondly recalls climbing the structure and admiring the views of Sentosa from the Merlion's mouth. “Outside the Merlion, there was a beautiful step garden with flowing water. I used to love walking there,” she shares.Years later, the statue, covered in dirt and grime, required a refresh. The demolition was not only part of a larger vision to connect Resorts World Sentosa (RWS) in the north to the three beaches (Palawan, Tanjong and Siloso) on the island's south, it was also the start of a massive rebranding project to transform Sentosa from a recreational family destination to a premier lifestyle attraction.Today, Sentosa Sensoryscape stands in its place. Set within a lush landscape, the 30,000 sqm attraction features a 350m-long connector that leads visitors to six sensory gardens – where they can explore the gardens’ massive vessel-like sculptures, observe the various flora and fauna inhabiting the space, and interact with Instagrammable light displays through an augmented reality app after nightfall.“To attract younger visitors, our additional focus is on creating more authentic and immersive experiences, recognising that this demographic seeks deeper, more engaging interactions with the places they visit,” says Thien Kwee Eng, CEO, Sentosa Development Corporation (SDC).Just as Sensoryscape is designed to create an otherworldly atmosphere after dark, the Sentosa Night Mode campaign, launched in August, aims to introduce the island as a day-to-night destination for both locals and tourists, who would typically only make day trips to Sentosa. In addition to more nightlife events – such as the recent Waterbomb Festival, which saw about 10,000 revellers partying to a live K-pop line-up – the initiative includes extended operating hours at key attractions, along with street performances and dining promotions.It’s a move that has boosted visitorship to the island, with total numbers reaching 16 million this year.“This is a 20 per cent increase in the number of visitors as compared to the same period last year,” reveals Kwee Eng.
TAKING THE LEAP
It’s 10 am on a Monday, and Gan Guoyi, 40, walks into Jigger & Pony with a set of dry-cleaned clothes – a picture of calm amid the aftermath of last night’s chaos. The Singapore bar recently secured a spot in the Top 5 of The World’s 50 Best Bars 2024 list, announced in Madrid on Oct 23. To celebrate, she threw a three-night promotion from Nov 10, where customers enjoyed five premium cocktails for just $5 each at select bars like Gibson, Live Twice, Sugarhall, Como Pony Jakarta, and Jigger & Pony.Naturally, the event was a hit, and Guoyi, who was manning the guest list at Sugarhall, only managed a few hours of sleep the night before. Still, she arrives promptly to our photo shoot without complaints.
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