Retirement planning is as much about self sufficiency as it is about love

By now, at least some of you should have watched this heartwarming ad from NTUC Income about “The Worst Parents in the World”.

In the ad, the groom at his own wedding dinner described how he had a “terrible” childhood, no piano lessons, no expensive tuition, no expensive overseas trips or birthday celebrations. However, he expressed his gratitude that they did it, so that they could be self reliant in retirement and not be a burden to him.

Amid all the concern over Singapore’s cost of living and the cost of raising a family here, the ad reminded us that it is possible if you live within your means. It also shined a light on the consequences insufficient retirement planning can have on your children and the society.

It also reminded me of stories Mom would tell me of growing up with Ah Gong, Ah Ma and all her brothers and sisters. Of how Ah Gong and Ah Ma was generous with their money and didn’t control it well. Of how they had to support Ah Gong and Ah Ma in their old age. Of how Mom chose to forgo an overseas scholarship as it would mean years without income for her family, and of how she chose to forgo a career fast track so that she could spend more time raising my brother and I.

Lastly, it reminded me of how blessed I am to have grown up in a middle class family without worry or care, with my parents having the foresight to have sufficient funds to retire without having to rely on me. In the process, I am allowed the freedom to choose any career path that I fancy.

Don’t plan for retirement only because its about being self sufficient, do it because of the love of your family.

Thanks Mom & Dad.

Happy Hunting,

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