SINGAPORE: A 28-year-old man earning a 6-figure income monthly took to social media saying that when he was in University, he had dreams of retiring by age 45. In an anonymous post to popular confessions page NUSWhispers, the man asked others a number of finance-related questions. He wanted to know: “How much do you guys typically spend on a weekend trip to Japan? Total expenses. I see a lot of young couples my age traveling and I can never convince myself to part with spending more than $1000 over a weekend even though I make six-figures in tech”, adding that he worked in the technology industry.
The man also asked others if they had worries about their retirement. He said that he had always wanted to be able to retire by age 40 or 45. “I’m saving every cent that I don’t absolutely have to spend and still it seems like I’m not saving enough. But then I see my peers going to Japan one weekend, Korea another, and then Europe. I am 28 and I just hit 6 figures last year. Am I behind in income for my age? How much of your disposable do you typically end up saving per year?” the man asked.
He wrote that he managed to save about half of his after-tax income the previous year but said that his parents saved a much higher percentage of their salary when they were still working. “Follow up question: I am saving up for my first rental property. Is this a goal of every young person or are there far better stores of wealth that I’m not aware of?” the man asked netizens.
Netizens who commented on his post urged him to live his life to the fullest. One said: “My friend died at 26, never woke up from sleep. No symptoms etc. from then on, I don’t buy into the idea of delayed gratification. Who knows when you’ll never wake up. Save so much money also other people use for you. Save enough for raining days, use within your means for your own pleasure. Work so hard don’t enjoy. Wait till you old liao no energy or health to go to places you wanted then you regret your life”.
Another commented: “20s is the best time to enjoy life. Mostly in your 30s and above, you already start to settle down esp if you are planning to grow a family. By the time it would be abit hard as with children, its not that easy to just pack and go. If you’re 28 and have never experience travelling or good memories about enjoying life, thats sad for you. You can’t buy that. But if you dont care about memories and experience, you do you lah! Just remember, tomorrow is not guaranteed. Save so much, when die other ppl get to enjoy”.