Living Till Age 100?

The Mrs celebrated her 31st birthday just last week. I actually told her that I would be really grateful if I get to celebrate her birthday for at least 50 more times.  Like most people, I actually don’t really believe I would live past 90, let alone 100.

However, I came across this blogpost written by Labour MP Zainal Sapari which talks about how we all must start preparing to live a life till 100.

Naturally, I was quite skeptical but a quick search on Google yielded these results (here, here and here). And I am surprised to find out that Singapore ranks 5th in the world in terms of life expectancy.

So if let’s say I were told I would live past 100 today, what would I do to prepare for it?

Staying Healthy

I personally believe longevity does not matter as much as quality of life. For most people, you need a healthy body to be able to experience the best of what this world has to offer.

In the past two weeks, I started jogging from my place to the Kovan wet market on Tuesday mornings. It’s probably a 6-7km jog which I take around 35-40 minutes depending on traffic conditions.

Thereafter, I enjoy a $3.50 bowl of wanton noodles before going to the market to buy some chicken breasts, thighs and vegetables to last me for the rest of the week.

Yes, I have started cooking more often and I hope this will continue till my old age. As for exercise, when I grow much older, I might opt for less intensive activities like swimming or even taichi.  

Staying Relevant

If I were to retire at 40, it would take a great deal of investment skill plus a wallop of luck for my money to last till 100. Therefore, instead of advocating a full-fledged retirement, I have always reiterated that I prefer semi-retirement.

And best if I could semi-retire all the way till 100.

That’s why when NTUC Deputy Secretary-General Heng Chee How mentioned in Parliament that the re-employment age is raised from 65 to 67 from July 2017, I was nodding in agreement.

Many would take this piece of news negatively and the same old rhetoric of how the Government wants the people to work till they die will surface. But I really beg to differ. Simply put, the new re-employment age would allow workers who WISH and are able to continue working to stay employed.

At the same time, besides providing an option to allow eligible employees to be re-employed by another employer, it also removes the option of employers cutting employee’ wages at age 60. This gives more flexibility to mature workers and protect their wages too.

Removing potential barriers that will prevent or make things difficult for those who choose to continue working can only be a boon if I live till 100.

It would be pretty cool if the 75 year old me can perform the same duties as this tour guide or join this group of team strong silvers to inspire the elderly to keep fit.  

Remain Financially Secure

If I were to live till 100, CPF LIFE would be a god-send. Let’s say I am a 60 year old now. I would very likely put more savings into CPF LIFE up to the Enhanced Retirement Sum (ERS) of $249,000.

I would then receive a payout of up to $2,000 every month for the rest of my life, allaying my worries about outliving my savings. This monthly payout should go a long way to cover the basic necessities like food, utilities, shelter and clothes.

Hopefully, I would still have a stash of about half a million of savings to generate $1,500 of cashflow every month to either provide some buffer or fund some expensive hobby like travelling.

And yes, I would definitely want to remain relevant and perform some form of work to earn some active income to supplement the above. Besides being productive and connected to society, the extra income would definitely help me to remain financially secure.