SINGAPORE: A man shared on social media that his retired uncle regretted being obsessed with “working, saving, and planning for retirement when he was younger, to the point where his life became routine and simple”.
In a post on the r/askSingapore Reddit forum, the man explained that his uncle had always been determined to secure a stable future. However, in doing so, he missed out on many of the simple pleasures that make life rich and enjoyable.
His uncle never took the time to drive a car, buy nice clothes, pursue any hobbies, or cultivate close friendships because he believed those things were unnecessary distractions.
“The irony was that he could have easily afforded all these when he was young, and now he regrets it,” he said.
Currently, the man shared, his uncle lives in a modest four-room HDB flat and has enough saved for retirement. His youngest child is about to finish university, and the other two are already working.
But despite having the time and money to enjoy his retirement, he’s finding it hard to make the most of it because of his health problems.
“He can’t enjoy good food now because he suffers from high cholesterol, blood pressure and diabetes and has to watch his diet carefully.
“He can’t walk far nor travel and visit places much as he gets tired very easily and suffers from joint aches. Same with something as simple as a jog, let alone play any sports,” he wrote.
This made the man reflect on his own life. He said, “That got me thinking like at what point should I stop fussing over the future and live life as it is, even if it means spending more? I mean, some people don’t even live till retirement age.”
‘The way I see it, just set a budget for everything’
In the comments section, many encouraged the man to start living his life today instead of waiting for the future.
One individual said, “Don’t wait. Because life doesn’t. Life doesn’t care if you’ve been a responsible person for the last 50+ years, and it’s one day to your retirement.
“Life doesn’t care if you’re 25 years old and feeling like you’ve all the time in the world. I’ve seen too many people around me get diagnosed with terminal/severe illnesses, and none of them were expecting it to happen ‘so early.’”
Others also reminded him that it’s possible to build a future while enjoying small, meaningful moments along the way. For example, making time for a hobby, spending time with loved ones, or even treating yourself occasionally could help make life feel more fulfilling without jeopardizing future security.
One individual added, “The way I see it, just set a budget for everything. Save some money for your retirement. Put aside money for fun/travel/experiences.
“I do see many people getting mobility issues when they are older. Don’t take for granted that you will have the same mobility in your 60s that you have when you are in your 30s.”
Another individual, now in his 50s, emphasized the importance of health. He said, “My simple view : take care of your own health first, without it, you can’t do anything, even with lots of money.
“After that, live way within your means during normal days, so that you can spend when you want to. I’ve never had to worry about my finances in the last 20 years because we lived well within our means.”
50/30/20 rule
Striking a balance between enjoying life today and securing your financial future can be challenging, but with the right approach to budgeting, it’s possible to have both.
One smart way to manage your finances effectively is by using the 50-30-20 rule.
This budgeting method, popularized by US Senator Elizabeth Warren in her book “All Your Worth: The Ultimate Lifetime Money Plan, breaks down your income into three categories: 50% for essentials like housing, food, and transportation, 30% for things you want or lifestyle choices, and 20% for savings.
It’s a simple yet powerful guide to help you cover your needs, enjoy life, and prepare for the future.
Featured image by Depositphotos (for illustration purposes only)