Date: November 7, 2013
When people are young they don’t necessarily want to think about retirement because it is something that won’t happen for a while. But when they get older, they don’t want to think about retirement either, because it is probably too depressing.
But we should seriously think about our retirement. And the sooner we plan for the day when we decide to stop work, the better. That’s because according to a recent survey by Manulife, we Asians could, on average, face a six-year shortfall in our retirement savings.
In Singapore, the shortfall is slightly worse than the Asian average – it’s around seven years. Elsewhere, Indonesians face a shortfall of 10 years, while the situation is most acute for Japanese savers. They face a shortfall of 13 years.