Weekly Round Up [Details]

While the week was a busy yet eventful one. I felt the weekend that passed by was more interesting than the other days of the week.

Weekend is always the most treasured time of the week in my own opinion when we work Monday to Fridays. While some of us might work shifts for our daily living, so the non working days will be more treasured. Be it to catch up on the much needed sleep or a short break from the daily routines in life.

The breakthrough for this week I felt was facing the problem of what to do for the weekend. While I have some errands to run, and  took some time to visit the Singapore Garden Festival exhibition as well as a birthday bash for my close friend. I also managed to squeeze out time to catch a movie – At Cafe 6. Somehow this movie too evolves around the theme of Distance. But looking at it deeper simply from the aspect of Details too – a nice movie, but I shall leave the after thoughts to another post. While, at the same time I felt a need to address some essential yet not very urgent matters – Finance.

When speaking about finances, some of us might cringe or hear our stomachs rumble noises. But truthfully, not many of us will have thought far and what constitutes a big chunk of our lives when we live beyond our working age; that is retirement.

If we were to look at the life cycle of the human world. One will notice that when a baby is born he or she spends the childhood years learning. By the end of the teenage years some might already be working or finishing university – that makes them about 24 to 26 years old. Which in the past would be the ripe age to start a family. But in the current context of time, 28 might just be the beginning of a new phase of life. While starting out to work in the society, some will start to think about spending on holiday or material while others might begin to start saving for retirement.

That two pathway sets everyone apart from each other. Beyond that the calculation comes into play. From 28 years of age onwards perhaps till 62 or 65 years of age. A good 37 odd years where one might work day and night through their working prime age. And before they know it they reach 65 years old. Then the reality of little or no active income sets in.

Now before we start to press the panic button, lets calculate how long we will live till. According to statistics, the global human life span stands at 71.4 years old according to WHO for 2015.

Now that is  not too bad considering you may work till 67 years old, leaving you 4.5 years to continue living. But what if you live till 80.4 (male) & 84.9 (female) years of age for Singapore inhabitants (Source: Department of Statistics Singapore)? Now that is about another 13 to 17 years. Now take this number and multiply by the lifestyle you will like to have and the average inflation rate of the city you will like to live in – and also provided that Global Warming does not exits. Because by the next 50 years the world might less more land scarce than now. It all adds up, it is in the details of life planning.

To make it easier there are some Singapore based banking websites that offer free tools to see if one is ready for retirement. DBS | UOB | OCBC | HSBC

*This article is inspired by the Daily Post – Photo Challenge : Details


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