S2E17: In your 20s? Why it’s never too early to prepare for retirement

May 4, 2025

34:10

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Three students in their early 20s tell us how they're approaching this.

Synopsis: Every first and third Monday of the month, get a headstart in your personal finance and career with The Straits Times.

Retirement used to be a word for middle-aged workers, perhaps as they started to think of how to lay up enough savings to enjoy their twilight years.

But with movements like Fire - also known as financial independence, retire early - younger workers are starting to talk about retirement and prepare for the time they can kick their feet back and stop working.

And for university students in their early 20s, preparing for retirement is already underway, to hit their goals of retiring early and to fund their ideal retirement lifestyles.

So how early should you think of retirement and how can you plan for it?

In this episode, ST business correspondent Sue-Ann Tan looks at retirement planning even when you're in your 20s and if Fire can really work.

Her guests are three NTU students in their early 20s - Tina Aw, Charmaine Chia and Aurene Graciella.

Highlights (click/tap above):

1:51 How old were you when you first thought about retirement?

5:33 Hustling from the age of 12 to achieve Fire

8:20 The mental and social costs of Fire

9:15 What is your ideal retirement age?

11:58 How are you preparing for retirement?

24:56 How much will you need per month in retirement?

27:44 Will you consider micro-retirement?

Listen to "Should we play with FIRE?": https://str.sg/5mHc