The New Retirementality

Have you ever wondered how to build your wealth effectively in Singapore? One of the latest additions to my blogroll was “Growing your tree of prosperity”. The author of that blog, Christopher Ng had apparently made enough money to quit from his engineering job and retired at the young age of 39. However, money is only one side of the equation. He is currently busy studying for a law degree to prepare himself for a second career in life. His story inspired me and resonate the teachings in Mitch Anthony’s The New Retirementality (ISBN: 978-1-118-70512-4)Originally written to get the attention of baby boomers, who were approaching 55, author Mitch Anthony started a revolution by showing people why they need to have a new attitude about retirement – a “new retirementality”. More than a decade later, many people are facing a very different retirement reality than previous generations – failing pensions, an endangered social security system, and inadequate savings. They have been forced to face the reality of a retirement that may never happen, or one that will take place much later in life than ever expected.

While most books focus on a “number”, this reliable resource shows readers that attitude is also an essential part of the equation. Including new research and studies on the latest retirement realities, The New Retirementality discusses what it means to retire on purpose; the expanding role of work in retirement; and how one can orchestrate their own future by recognizing their benefit needs. Mitch introduces readers with his latest concept, investing toward a greater Return on Life, to help people rethink the meaning of retirement and put them in a better position to enjoy the new “retirementality” they deserve.

Even though the book is written in the context of western countries with social welfare system, the fundamental concepts are generally applicable in an Asian society like Singapore. As such, I highly recommend this book to all Singaporeans because it will make you recalibrate your approach towards money and life. Many Singaporeans, in the pursuit of money, often wonder the definition of a fulfilling life. So many people are stuck in unhappy jobs with no passion in their work and lost track of what are their motivations and purposes in their lives. For the majority, retirement is about achieving financially freedom and having $2 to $3 millions to spend without working. But then again, even though money can give you options, it is only one side of the equation. Essentially, you need to ask yourself what is the kind of lifestyle that you want to lead without having to worry about money.

Perhaps Christopher Ng had read the book before because I found many of the activities practised by him in his blog. In my opinion, he has a successful retirement because he met the four philosophical pillars of the New Retirementality: Vision, Work, Balance and Successful Aging. Check out the book to find out how you can achieve a successful retirement!

Magically yours