SG Complains

Half of Singapore’s workforce do not want to work past 60: poll

According to Yahoo!Malaysia:

SINGAPORE : Half of Singapore’s workforce are not willing to work beyond the age of 60, according to a survey conducted by The Nielsen Company.

The survey showed that the 550 working adults polled had different ideas about what the ideal retirement age should be.

But only 5% said they wish to remain in the workforce till they’re 65.

10% said they would never want to retire while 36% said they would like to retire by 55.

Another interesting find from the survey was that 54% of the respondents said they feel that they need over S$1 million to retire comfortably.

34% blue collar workers said they are unsure that they can afford to retire. 22% of white collar workers felt the same. The percentage drops to 14% when it comes to PMEBs (Professionals, Managers, Executives & Businessmen)

- We can only dream to retire early and do whatever we want when we want. That’s the idealistic Singaporean mindset and it’s almost non-negotiable. The problem comes when global inflation hurts their savings and instability in the economy will slow down growth making their investment to be very vulnerable.

Holding on to jobs during “recession” may be virtually “mission impossible”, unless you are Tom Cruise. We tend to think positive and may not think that the government will allow a recession or depression to happen and even print more money to give out as “increment”, more annual CPF bonus and New Year Growth Packages.

My friends tells me to look at the glass half full instead of half empty, think positive! I will say, unless you own a profitable business…there won’t be a glass to begin with.