YouthInk writers weigh in with their takes

No urge to splurge

THE thought of never being able to retire in Singapore is worrying, but it will not affect the way I live now.

After all, I am not a spendthrift. I do not indulge in expensive meals, nor do I frequent nightspots. No movie-watching in 'Gold Class' seats either. And the list goes on.

My preferred substitutes for the above are: a plate of chicken rice at a hawker centre, playing sports and renting DVDs.

Even if I am not responsible for bringing home the bacon, I have no urge to splurge.

Call me boring, but I do not want to be working even when I am 70 years old.

Berton Lim, 19, has a place to read business administration at the National University of Singapore

Save and invest early

WITH rising costs of living and the risk of not having that stable 'iron rice-bowl' that will see me through to retirement, I have started saving and investing since I was 18 years old.

As more youth become finance-savvy, they will become aware of financial products such as long-term endowment and savings plans offered by insurance companies and banks.

I set aside at least $200 from my monthly allowance to invest in two endowment plans I have purchased.

I have also made small investments in unit trusts which I believe will bring me long-term returns.

By saving and investing wisely, I hope to secure my 'golden nest egg' for my twilight years.

Kenny Tan, 21, is a first-year economics student at the Singapore Management University

Find a rewarding job

RETIREMENT is made to sound like an apt reward for a lifetime of unfulfilling career responsibilities.

Yet, there are many individuals who work well into their golden years and still exude much devotion to their jobs.

If I were tremendously passionate about my job, I would not be one to anticipate my 65th birthday when employment is no longer required of me.

In view of the competitive job market, it will be hard to secure that widely desired job with a hefty salary. A good alternative would be to find a job that one can commit to in the years to come.

Then there will be no need to worry about having to put off retirement. That way we can have our pie and eat it, too.

Alicia Ng, 23, is a third-year accountancy student at the Singapore Management University

Thinking of emigrating

EVEN though I am still in my early 20s, I am already wondering if I will have enough money to retire comfortably.

My father is one of many elderly Singaporeans who has to put off retirement in order to pay the bills.

He celebrates his 61st birthday this year, yet there is no respite for him. Plus, rising costs of living and the stressful Singaporean lifestyle are taking a toll on his health.

In contrast, I have a 55-year-old friend who is enjoying a stress-free retirement in Canada.

The cheaper cost of living there has enabled him to retire comfortably on a small pension, and in a house near a mountainside lake.

His idyllic, carefree lifestyle is making me seriously consider emigration.

After all, I live my life only once.

Eisen Teo, 22, is a history major at the National University of Singapore

Seize every moment

THE popular image of retirement is an idyllic picture. But those used to a hectic working life might not find it to their taste.

Ironically, the drastic slowdown may be too much for such people, both physically and mentally.

As I grow older, I would want take things a bit slower. But yet I would like to share my experiences with younger generations.

While it might mean taking on a less demanding job in terms of schedules, roles and responsibilities, I get to maintain my interest and involvement in the industry - a good survival tip when reaching retirement age.

It is this thought that it spurs me on to achieve my best at a young age and to contribute all that I can to society before age catches up with me.

Khoo Lih-Han, 22, is a first-year mechanical engineering student at the University of Leicester

Learn as you work

MY GOAL was to retire and travel during my golden years. This has changed and I am now mentally prepared to work for as long as I can.

Retirement has become a distant reality. A longer life span and rising costs of living mean more post-retirement funds are needed.

I have become more active in saving for my nest egg and taking more responsibility for my health.

It also calls for a paradigm shift to view lifelong employment as lifelong learning so that work can give a sense of purpose in my greying years.

What remains unchanged, though, is my belief that kinships and friendships are most essential for a happy old age.

Desmond Chan, 25, is a final-year communication studies student at Nanyang Technological University