11-07-2025
- Business
- Independent Singapore
Can the average Singaporean actually afford to stop working?
SINGAPORE: A mind-bending question recently surfaced on Reddit: Is the average Singaporean doing well financially? And more importantly, can we retire comfortably? It's an apt apprehension that resonates deeply, especially at a time of escalating costs, stagnant earnings, and aggressive job competition.
This question triggered a flurry of truthful and earnest responses that exposed the diverse financial realities most Singaporeans face today. From understated confidence to silent fear, the Reddit thread revealed how the words 'financial comfort' evoked different emotions among working people in one of the world's most affluent nations.
A netizen shared a powerful insight — financial comfort isn't just about net worth, it's all about contentment. 'If I don't have many wants and am content to lead a simple retirement, I think I'll have enough and will be very happy already.'
For this user, the concept of retirement doesn't mean jet-setting, country-hopping, or owning luxury cars. Rather, it's embedded in simple needs that include a fully paid home, frequent but manageable expenses, and good health. What the user was saying is that happiness cannot be found in material accumulation but in financial sufficiency with peace of mind.
Life is harder for some. One commenter said: 'Juggling two jobs to keep me and my wife afloat. Surviving… but it's the 'I hate my life' kind of surviving.'
Working freelance and delivering food isn't a 'passion project,' it's a lifeline. It's in sharp contrast to the customary image of financial independence and says a lot about the strains that lower-income families undergo.
Another netizen brought up a different contemporary predicament — lifestyle creep. The move from low-priced coffee and hawker centre food to artisanal lattes and more expensive lunches may appear inconsequential, but it can quickly build up. 'All these few dollars more actually add up to S$400 to S$500 a month… Unfortunately, I can't give up.'
It's not just about tiny 'guilt pleasures' but about how trivial behaviours can reshape one's financial setup. Once the standard of living has been upgraded, the capacity to downsize becomes psychologically and emotionally strenuous.
Remarkably, even those who are doing 'better than most' voiced out their apprehensions. 'Still quite comfortable… but still grappling with lifestyle creep… and feeling like I'm not saving or investing enough…' See also Why looking 'poor' might be the 'richest move' of 2025
Finally, responses shared by many users showed that 'retirement comfort' is intensely personal and vastly subjective. For some, it's about freedom from money-related stress. For others, it's about keeping a lifestyle they've been used to. However, for most, it's a dream that's gradually dissolving into the void.
What the post made clear is this: Financial comfort in Singapore is not an immovable destination. It's a 'roaming bull's eye' impacted by lifestyle, values, and personal circumstances. Whether it's through simplicity, non-traditional sources of income, or a skyrocketing salary, each carves his or her path, and for many, that path is anything but uncomplicated.
The real question now isn't if one 'can retire comfortably,' but what the word 'comfortable' really means.
