Getting started is probably the hardest part of a retirement plan as it is easy to think that retirement is decades away. However, procrastination could cause you to lose thousands of dollars. Procrastination could make the difference between a comfortable retirement and one where you are barely getting by.
By Sean Toh
If you’re between the ages of 20 and 40, you’re probably buying a house, a car, furniture, and thinking about your kid’s education fund. However, the most common reply from most Singaporeans is: “I barely have enough money for my monthly expenses. How can I save for retirement?”
As housing, health care, transportation and education costs continue to increase, its little wonder that saving for retirement will take a back seat. But it doesn’t have to.
You probably think you can’t afford to save for your retirement at this time. You’re wrong. Even a small amount invested wisely could be very beneficial in years to come.