US, UK set to unveil trade deal
The US and the UK are set to unveil a trade deal after weeks of negotiations. This would mark Washington's first such agreement since President Donald Trump announced his sweeping global tariffs. John Bevir reports from Bristol.
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CNA
an hour ago
- CNA
‘FIRE' paints an attractive picture of achieving financial freedom early in life, but retirement shouldn't be the end goal
Over the past decade, the FIRE movement (Financial Independence, Retire Early) has been gaining widespread popularity online, inspiring and motivating more people to manage their money better in order to retire sooner. Some fantasise about how they can 'fire' their boss once they retire early. Others dream of being able to stop working entirely to spend time on family or passion projects. There's nothing wrong with FIRE as a goal, but true financial freedom can look very different from the picture this ethos paints. NO LONGER TRAPPED BY OUR NEXT PAY CHEQUE The relationship between our work and finances is a tightly entwined one – most of us need our next pay cheque in order to cover our living expenses and bills, so we keep working. As such, it can be easy to equate the idea of 'financial freedom' with that of 'freedom from work'. But in reality, financial independence and early retirement are two distinct, different things. Not everyone wants to stop working. Studies show that purpose and productivity are essential for our long-term happiness – even post-retirement. Many who reach financial independence continue working, not because they have to but because they want to. But what financial freedom really gives us is the power to make decisions about how we work without worrying too much about financial repercussions. It allows us to choose roles that align with our values, take breaks when needed, or say no to toxic work environments. When we're no longer trapped by the need to rely heavily on our next pay cheque, we gain the freedom to work for our own growth and purpose. WHAT IS YOUR VERSION OF FIRE? The original FIRE ethos called for saving aggressively (usually more than half your income) and investing wisely so you can retire early. It sounded great in theory, but for most, it often required high income and extreme frugality. Today, the FIRE movement has evolved to encompass varying definitions of financial independence. It is no longer about reaching an end goal, but more about the type of lifestyle we desire and the level our finances will need to hit in order to support our aspirations. For instance, 'Lean FIRE' refers to a minimalist lifestyle where you retire with a lower budget. There's also 'Barista FIRE', describing a point where withdrawing from your savings and investments can cover your major expenses and bills, while you supplement the shortfall with part-time or passion-based work (such as being a barista). These newer variations of FIRE may seem like dilutions or compromises – but in reality, they are just as true to the core essence of financial freedom. True financial freedom empowers us with choice rather than demanding retirement. It should mean more options, not less. This shift in mindset can be liberating. Instead of chasing a retirement date or age, we can focus on building a lifestyle where money supports flexibility, purpose, and well-being rather than escape. Perhaps you might decide to stay in your current job, but negotiate fewer work hours that would allow you to care for your children or ailing parents. You might explore part-time roles, start a small business, or pull a Jeremy Tan and pursue advocacy for change (even if it's not as an independent candidate in a general election). ARE WE LOOKING FOR ESCAPE, OR A BETTER BALANCE? Out of all the people I know who've successfully achieved financial independence, the happiest ones are those who never quit working – but it's not because they particularly love slogging. A friend downsized his role to two days a week to spend more time looking after his mother after her cancer diagnosis. Another stopped chasing yearly pay increments and started mentoring juniors instead, finding deeper fulfilment in growing the next generation than a fatter pay cheque. Clearly, the real problem isn't work itself – many people find meaning, identity, and purpose through their work. Rather, it is the lack of control over what, how, when, and why we work that has us dissatisfied. Financial freedom can still mean not working at all, but it's important for us to understand that this isn't the only version of true freedom. Maybe it'll mean a smaller pay cheque, but while it may look to others like you're settling for less, you're in fact gaining more in time, autonomy, and peace of mind. Ironically, when we do work that we're passionate about – work that energises us instead of draining us – we are much more likely to stay the course. WE DON'T HAVE TO WAIT Even so, I get why FIRE remains so popular not just in Singapore but around the world. Trying to achieve financial security is getting trickier and trickier, especially in a world where inflation only seems to keep climbing and job stability is quickly vanishing in the face of repeated layoffs and the proliferation of artificial intelligence. That's why the FIRE movement appeals to millions of people around the world, because it seems to offer a solution. A way to regain control. But the core tenet of financial independence was never about never working again – it about never needing to work out of fear or survival. So instead of running towards an arbitrary finish line, consider the path you're on instead. Is there a way to redesign the way work fits into your life now? We don't have to wait until we retire, whether it's early or not.
Straits Times
an hour ago
- Straits Times
‘Return to your country': Kabul tells Afghans rebuffed by Washington
Since Mr Trump returned to the White House in January, Afghans have gradually seen their chances of migrating to the United States or staying there shrink. PHOTO: REUTERS KABUL - The Taliban government on June 7 urged Afghans hoping to emigrate to the United States to instead return to Afghanistan, after Washington tightened entry conditions. US President Donald Trump this week announced a travel ban targeting 12 countries, including Afghanistan, which his proclamation said lacked 'competent' central authorities for processing passports and vetting. Commenting on the ban on June 7, Prime Minister Mohammad Hassan Akhund urged Afghans to return to their country, saying they would be protected even if they worked with US-led forces in the two-decade fight against the Taliban insurgency. 'For those who are worried that America has closed its doors to Afghans... I want to tell them, 'Return to your country, even if you have served the Americans for 20 or 30 years for their ends, and ruined the Islamic system',' he said in a speech marking the Eid al-Adha holiday, broadcast by state media. 'You will not face abuse or trouble,' he said, making reassurances that the Taliban Supreme Leader Hibatullah Akhundzada had 'granted amnesty for all'. After surging to power in 2021, Taliban authorities announced a general amnesty for Afghans who worked with the Western-backed forces and government. However, the United Nations has recorded reports of extrajudicial killings, detentions and abuses. In the past four years, the Taliban government has imposed a strict view of Islamic law and restrictions on women which the UN says amount to 'gender apartheid'. Afghans fled in droves to neighbouring countries during decades of conflict, but the chaotic withdrawal of US-led troops saw a new wave clamouring to escape Taliban government curbs and fears of reprisal for working with Washington. The US has not had a working embassy in Afghanistan since 2021 and Afghans must apply for visas in third countries, principally Pakistan, which has recently ramped up campaigns to expel Afghans. Since Mr Trump returned to the White House in January, Afghans have gradually seen their chances of migrating to the US or staying there shrink. Trump administration orders have disrupted refugee pathways and revoked legal protections temporarily shielding Afghans from deportation starting in July. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
CNA
5 hours ago
- CNA
Senior Taiwan official visits site of new Alaska LNG project
TAIPEI :A senior Taiwanese official said on Saturday he had this week visited the site of a potentially enormous new liquified natural gas (LNG) project in Alaska that the Trump administration has been pushing hard to allies in Asia as a supply option. Energy developer Glenfarne had said on Tuesday that 50 firms had formally expressed interest in contracts worth more than $115 billion from its Alaska LNG project, a massive infrastructure deal championed by U.S. President Donald Trump. Writing on his Facebook page, Pan Men-an, secretary-general to Taiwan President Lai Ching-te, said he had attended an energy conference in Alaska at the invitation of U.S. Secretary of Energy Chris Wright and visited the state's North Slope. Phase One of the project is expected to deliver natural gas about 1,230 km (765 miles) from the North Slope to the Anchorage region. "Despite the freezing temperatures, we talked enthusiastically about building resilience and responsibility as democratic partners in the face of global climate change and the challenges of authoritarianism," Pan wrote. "In the face of trade challenges and international turbulence, we have no choice but to rise to the occasion," he said, without mentioning whether he had signed any deals while there. The presidential office said late on Friday that Pan had been accompanied by Fang Jeng-zen, chairman of Taiwan's state-owned energy company CPC. CPC in March signed a non-binding agreement to buy LNG and invest in the project, a move Taiwan's president has said would ensure the island's energy security. If built, the Alaska LNG project will export up to 20 million metric tons of the superchilled gas a year. It would open direct access for U.S.-made LNG to Asian markets without having to go through the Panama Canal or around the Horn of Africa, reducing transit time and costs. Taiwan has pledged to massively ramp up its purchases from the United States, including energy, to reduce a yawning trade surplus that has angered Washington.
