Aging in Singapore Isn't the Challenge; It's the Sense of Being Trapped.
What do you envision your life being like between the ages of 70 and 90? I used to think that as long as the world hadn't completely fallen apart by then, I'd just be happy to still be alive. But as life expectancy rises, I'm beginning to realize that delaying my retirement planning isn't doing "Future Me" any favors.
During a series of panels at OCBC's The Price of Tomorrow: A Financial Wellness Festival, I quickly discovered that I had misunderstood retirement planning. It's much more than just saving money and hoping you outlive your savings.
For a long time, the life script followed three main acts: learn, earn, and retire. But that narrative is breaking down. Some people feel they can never save enough to retire. Others experience profound boredom after retirement. And then there are those who retire, only to face unexpected expenses that they hadn’t planned for.
Perhaps we should think of our later years as chapters in a larger story. Rather than feeling pressured to "make it" in our thirties, why not embrace the idea of reinvention as we transition through multiple phases of life?
Longer lifespans require more than just making sure we’re fed and our bills are paid. We must also ask ourselves: What aspects of our identity are tied to our careers? What new identities do we want to develop in the coming decades? And the decades after that?
How Would You Spend an Extra 20 Years?
When health problems forced my 68-year-old father to stop driving, it also meant the end of his career as a taxi driver. That was a sobering reminder that retirement isn’t always a choice—sometimes it’s something you’re forced into.
For years, my father worked hard, as that was all he knew. Suddenly, he had to face the reality of life after work. For a while, his routine consisted of watching Chinese dramas and cycling around our neighborhood playing Pokémon Go. It seemed peaceful, but I could tell he was starting to feel restless. After all, he has many good years left (hopefully), and there are only so many Pokémon to catch.
He's still figuring things out, but he’s also filling the gap with SkillsFuture courses. Yet, the unspoken assumption remains: it's hard for someone his age to find a new job.
Brandon Lee, Assistant Chief Executive at Workforce Singapore (WSG), posed a question that really stuck with me during the panel discussion:
“Imagine you have 100 years. How would you use that time to do different things, to reconfigure?”
Lee, who is 52, reflected on his diverse career experiences and suggested that it's never too late to reinvent oneself for the next 40 years.
Mature workers often face challenges restarting their careers after job loss or a break. But the truth is, they still have decades ahead of them. So how do you find purpose when society has decided you’re "past your prime"?
Loh Pui Wah, former Director of the Career and Attachment Office at Nanyang Technological University, offered a humorous take: “I don’t use the word ‘old’. We seniors are vintage. We get better as we age.”
Loh also pointed out that retirement doesn’t equate to doing nothing. It simply means you're no longer burdened by the responsibilities of providing for your family or meeting societal expectations. Retirement can be an opportunity to start a business, volunteer, or simply pursue things you enjoy.
One of the most powerful insights from the panel came from Lee: “All of us are going to be older. So ageism is actually discrimination against your future self.”
In an ideal world—a world I hope to grow old in—age is seen as a resource, not a barrier. It should be an opportunity for continued growth, learning, and making an impact. When we hold onto outdated stereotypes, like considering youth as inexperienced or age as irrelevant, we’re doing a disservice to everyone.
Lifelong Learning: More Than a Buzzword
If there’s one term that's been endlessly repeated in recent years, it’s lifelong learning, often paired with upskilling and future-proofing. But honestly, these ideas are easier said than done.
Shir-li Torrey, founder of Mums@Work, shared the reality behind these buzzwords, noting that when you're juggling the needs of children and aging parents, personal development can easily fall to the wayside.
However, there’s hope. And with longer lives, there's more time to grow.
“You almost feel like you’re living for everyone else… but one day, you’ll live for yourself again,” Torrey said. At any stage in life, it’s possible to envision new opportunities for growth, she emphasized.
Having an extra 20 years of life means a longer runway for personal growth, something the panelists all agreed on.
Torrey shared her own experience of expanding her community for working mothers into Japan. Despite poor initial turnout and skepticism from her team, she saw those early setbacks as learning opportunities for future success.
