A letter to my 40-year old self from a 65-year-old retiree

A letter to my 40-year old self from a 65-year-old retiree

Dear 40-year old self,

Hey buddy, how’s life? Tiring, I know – but the good news is you’re going to be fine! First off, congratulations on surviving adulthood thus far! It’s been quite a ride but I hope you are holding up fine, emotionally and physically (time to cut out the fries, dude). Naturally, I hope you’re doing well financially, too. It’s never too early plan for your retirement. As a retiree, I (I mean, you) would know by now. That’s why I’m about to take you through the financial things I wish I knew when I was your age (bear with me, you’ll thank me later).

Free Your Shoulders… of debt

You are not getting any younger and neither is your outstanding debt. At 40, you should prioritise paying off your house, car, and personal loans. I won’t go into too much detail as to what the future holds for you, but I promise that if you clear off your debt at an early age you will have a good and comfortable life ahead of you.

Plan to End

I must reiterate that it is never too early to start retirement planning! Consider aiming for a 70% income replacement rate for your future. With this, you will definitely be able to maintain the lifestyle you have right now and survive the now ever-pricier lifestyle in Singapore.

Spend Your Cheque & Check Your Spend

Wealth accumulation may feel like an uphill task as you are providing for your loved ones, and saving for your children’s education. However, you should not forget to plan for your future self. No matter how small the amount, putting aside a small sum early and consistently is better than starting later. If you have no children, it might sometimes feel like you are depriving yourself of the fruits of your hard work. Cutting off small indulgences such as that $5 daily cup of coffee, or choosing to give up your luxury car and take public transport instead may be some ways you can channel additional savings to grow your retirement fund. Your future self will definitely benefit from long-term planning and mindful spending today.

Every year, it is also important to review your financial goals and see if you are on track, reward yourself for achieving your goals, and set new ones, such as putting aside more for retirement.

Look Out For Your Loved Ones

Time flies and your children are growing up fast, and with that you realise that retirement is just around the corner. You can never be too careful when securing your future. Make sure you are prepared for life events and have appropriate insurance coverage to protect yourself and your loved ones.

Consider investing in flexible solutions and tools such as ePREMIER retirement and ePREMIER eternity presto. Leverage on these plans to secure your future lifestyle with a monthly retirement income, or plan for your future generations so you can lead a worry-free life.

Believe me when I say that everything will fall into place in time if you plan and manage your finances wisely. You will get there, and I wish you all the luck in the world!


Your 65-year old self


This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No 201331905K)
Protected up to specified limits by SDIC

As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.

This content is for reference only. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you. This advertisement has not been reviewed by the Monetary Authority of Singapore.

Information is accurate as at 19 June 2019.