home

SINGAPORE – Systems engineer Tan Chee Kian and his wife Joey Choo, a director for Asia-Pacific live content for a trade association, embarked on their home renovation journey well-prepared.

They approached a handful of interior design firms armed with a comprehensive deck of slides that included specific information on their budget, timeline and design requirements for each room.

They ultimately engaged home-grown studio Design Zage – headed by managing director Zhuo Jin Hai – which had worked on their family home, as well as homes belonging to Ms Choo’s mother and siblings.

The couple, who are in their mid-40s, wanted this 1,571 sq ft executive apartment in Serangoon North Avenue 4 to be their retirement home. Besides factoring in senior-friendly features, they also wanted a modern yet timeless design, as they do not see themselves renovating again in the next 10 to 20 years.

The entrance foyer is a welcoming open space, due to the removal of the kitchen wall to the right of the entrance and a large, mirrored backdrop behind the bench seat on the left. The built-in cabinets provide plenty of storage for socks and shoes, plus an open shelf for keys.

Near the sintered-top kitchen island is a bench seat for putting on and removing shoes. PHOTO: SPH MEDIA

In line with the couple’s preference for open-concept dry and wet kitchens, one kitchen wall was replaced with an island, which provides additional counter and storage space.

“The island serves as a visual divider, creating distinct living and kitchen zones without compromising on the overall fluidity of the space,” says Mr Zhuo.

The bathroom entrance was moved from the kitchen to the living room. PHOTO: SPH MEDIA

Access to the common bathroom used to be from the kitchen. To streamline the kitchen layout, the bathroom entrance was moved to the living room and concealed within built-in cabinets and shelves.

An existing column between the living room and study was cause for concern, as the couple wanted an open-concept interior. Mr Zhuo’s solution was to disguise the column among the fluted panels of the television feature wall.

Folding glass doors separate the wife’s study from the dining area. PHOTO: SPH MEDIA

Behind this wall is Ms Choo’s home office. It faces the dining area, which was originally a balcony in the HDB floor plan.

Slide-and-fold glass doors let in natural light from the dining room while still giving her the flexibility of closing off the space when she is working.

In the dining area is a 1.8m-long table for when the couple entertain. PHOTO: SPH MEDIA

Mr Tan says: “We love our dining area. When our interior designer suggested a 1.8m table, we were uncertain as to whether the space would allow for it, but he proved us wrong.

“This is now our favourite place in the house. I love how it overlooks the city skyline with a tiny glimpse of the Singapore Flyer from afar.”

The master bedroom and adjacent bedroom have been combined into one suite. PHOTO: SPH MEDIA

The master bedroom and adjacent bedroom have been combined into a single master suite with a walk-in wardrobe and dressing table, and a separate sleeping area. There is storage aplenty, with built-in cabinets, drawers and bag display compartments.

The attached master bathroom is spacious and modern with its combination of off-white marble and grey terrazzo tiles.

A shower seat in the master bathroom checks all the boxes for aesthetics, functionality and senior-friendliness. PHOTO: SPH MEDIA

The 27-year-old apartment went through a complete overhaul to the tune of about $230,000, including furnishings. It took about four months, including a one- to two-week break during the Chinese New Year period, and the couple moved into their new home in May 2024.

They love how spacious their home is. “We just hosted a family gathering of about 50 guests in the house with catering set up, and everyone still had room to mingle,” says Mr Tan.

This article first appeared in Home & Decor Singapore. Go to homeanddecor.com.sg for more beautiful homes, space-saving ideas and interior inspiration.

on call

The Trauma Code: Heroes On Call (NC16)

Netflix

South Korean actor Ju Ji-hoon is on a roll. Following the hit supernatural K-drama Light Shop (2024), the star fronts this medical series high on drama, action and comedy.

He plays Dr Baek Kang-hyuk, a brilliant trauma surgeon who honed his emergency skills in war zones. He plans to establish a top-tier trauma centre at the fictional Hankuk University Hospital in Seoul. Joining him on the mission is attending specialist Yang Jae-won (Choo Young-woo) and nurse Cheon Jang-mi (Ha Young). Together, the trio try to save as many lives as possible while fighting injustices along the way.

There are several over-the-top and hilarious moments. For instance, the gung-ho Dr Baek is seen zipping through a war zone, dodging explosions and “flying” cars. He then pilots a helicopter and jumps off it to save a patient.

But The Trauma Code: Heroes On Call’s creators clearly know what works: Put the handsome and charismatic Ju on the front line and let him take charge. His chemistry with Choo and Ha is excellent too.

The gripping eight-episode series has found fans around the world. It is Netflix’s No. 1 show on the streamer’s Global Top 10 Non-English Shows chart for the week of Jan 27 to Feb 2, dethroning the second season of popular K-thriller Squid Game (2021 to present).

Companion (M18)

97 minutes, now showing

★★★★☆

Sophie Thatcher and Jack Quaid in Companion. PHOTO: WBEI

This fiendish near-future thriller sees American actress Sophie Thatcher as Iris, a sexbot companion customised to satisfy Josh, played by American actor Jack Quaid. The couple are having a weekend getaway with Josh’s friends at a luxurious lakeside lodge. But things are not all idyllic when someone is murdered, which leads to a chase through the woods with US$12 million (S$16 million) at stake.

A feature debut by American writer-director Drew Hancock, Companion is a darkly hilarious, outrageously entertaining satire on the abusive relationships of entitled misogynists like Josh, who uses and manipulates his women.

Iris is no dummy – she evolves from self-discovery to a bloody fight for self-determination after gaining control of his mobile app.

The android is the most empathetic character in a punchy ensemble and Thatcher from the thriller series Yellowjackets (2021 to present) and Hugh Grant horror film Heretic (2024) is thrilling in the voltaic rage of Iris’ #MeToo revenge. – Whang Yee Ling

Love Hurts (NC16)

83 minutes, now showing

★★★☆☆

Ke Huy Quan (right) in Love Hurts. PHOTO: UIP

Marvin Gable (Ke Huy Quan) is a mild-mannered realtor with a flourishing business, but he hides a violent past. When notes from former accomplice and lover Rose (Ariana DeBose) appear, hinting at unfinished business, his life is overturned.

His brother Knuckles (Daniel Wu), head of a crime syndicate, hopes to find Marvin to deliver payback for a betrayal. Marvin must fend off Knuckles’ thugs and find closure with Rose, while maintaining his reputation as a pillar of the business community. 

First-time director Jonathan “Jojo” Eusebio, a veteran stunt coordinator, pays homage to Hong Kong cinema. His camerawork places viewers in the middle of each fight, while his choreography perfectly balances realism with style.

Love Hurts marks Oscar winner Quan’s leading-man debut and he proves he is more than capable as an action lead, bringing both physical prowess and emotional depth to Marvin. – John Lui

Joanne Soh is a lifestyle correspondent at The Straits Times, with a special interest in entertainment and pop culture.

More On This Topic

Film and TV picks: Secret Ink, Invincible Season 3, The Seed Of The Sacred Fig

Film & TV Picks: The Projector’s Lunar New Year Showcase, The Day Of The Jackal, Unstoppable

uji

UJI – There are two reasons to head to Uji: matcha and Nintendo. 

At least these are why I take a three-day detour to the small city south of Kyoto during a trip to Japan in November 2024. 

I indulge in a ryokan stay and plan nothing more than a stop at Nakamura Tokichi Honten, famed for its matcha desserts, and a pilgrimage to the Nintendo Museum, which opened in October 2024. 

Most travellers prefer a day trip to the city known for producing the finest matcha, or powdered green tea, in the world. After all, Uji is just 30 minutes from Kyoto on the JR Nara line. 

Like its more glamorous neighbour, Uji has a long, cultured history. The area has been a rural getaway for Japanese aristocracy since the fifth century, and 11th-century author Murasaki Shikibu famously set the final chapters of Japanese literary classic The Tale Of Genji in Uji. 

The Japanese city turns out to be an underrated charmer with its off-the-beaten-path location and quirky attractions. 

Matcha must-dos

Tea has been cultivated in the area since the 13th century, so Uji boasts a number of centuries-old tea establishments. They include the main store of Nakamura Tokichi Honten (str.sg/GtNS), which has become an attraction for matcha lovers.

My lack of research leads to a rookie mistake at the popular cafe that serves savoury and sweet matcha dishes, including green tea soba. Other branches of the teahouse are located in Kyoto and Tokyo, but the flagship store is in Uji and serves coveted daily specials.

I visit Nakamura on my first day, popping in after 2pm. There are 80 parties ahead of me in the electronic queue for a table. It takes two hours before I get in.

The house special (1,340 yen or S$12) – a trifle concoction of matcha flavours with fluffy sponge cake, tiny mochi balls and soft jelly coddled in dreamy matcha cream dusted with matcha powder – is worth the wait, even though the caffeine overdose later keeps me up till 4am.

The house special, Maruto Parfait, at Nakamura Tokichi Honten. ST PHOTO: ONG SOR FERN

The trick is to hit Nakamura as soon as it opens at 10am, so you can grab a table for lunch. The electronic system allows you to track the queue, so once you have a number, you can explore the neighbourhood full of charming little cafes and boutique retail shops. 

Besides Nakamura, which is 171 years old, there are three other must-visit tea establishments.

I book a matcha-milling workshop at Fukujuen Uji Kobo (10, Uji Yamada, Uji, Kyoto, Asagiribashi Bridge), which was established in 1790 and boasts small but informative green tea displays, complete with antique tea-processing machines. 

The 40-minute session (1,650 yen a person) is a mini-workout. I am stationed in front of a small stone mill and grind the green tea leaves by slowly and steadily turning its handle. 

The writer milling matcha at Fujikuen Uji Kobo. ST PHOTO: ONG SOR FERN

There are no English-language sessions, but the activity is straightforward enough for me to muddle my way through even without knowing Japanese.

After milling the matcha, I get to make it two ways – as koicha (thick tea) and usucha (thin tea). I plump for a 330 yen top-up of vanilla ice cream for an affogato-style drink, but regret it as the ice cream tastes like a mediocre supermarket variety that fails to hold its own next to the delicious matcha.

Products on display at Itohkyuemon Uji Honten. ST PHOTO: ONG SOR FERN

Itohkyuemon Uji Honten (19-3 Aramaki Todo, Uji 611-0013 Kyoto Prefecture), established in 1830, is less polished than the chic Nakamura and more retail-oriented than Fukujuen. Its omiyage (souvenir) shop is crammed with everything from matcha castella and matcha puddings to matcha prawn crackers – which are weirdly tasty – and bags of tea. 

But the undisputed grand dame of tea shops is Tsuen Tea Shop (Higashiuchi-1 Uji, Kyoto 611-0021), which clocks in at 865 years old. 

This tiny shop is more of a curiosity, thanks to its age, although it does sell teas and has a small cafe next door. The cramped interior – four people easily fill the shop space – makes it a tad claustrophobic. 

Cultural capital

Byodoin Temple, which is featured on the one-yen coin. ST PHOTO: ONG SOR FERN

Uji’s cultural capital is embodied in two things: the magnificent Byodoin Temple, built in 1053, and The Tale Of Genji, the last nine chapters of which are set in the city. 

The temple (Renge-116 Uji, Kyoto 611-0021; admission: 700 yen an adult) is the only place I visit that is crowded with tourists. Even then, domestic visitors outnumber foreigners. 

Having visited multiple photogenic Japanese temples over the years, I can safely say Byodoin gives Kyoto’s iconic Kinkaku-ji a good run for its money. 

The low-slung museum tucked discreetly underground is a marvel of modern minimalism. Its monochrome aesthetic provides the perfect backdrop for the Buddhist artefacts on display. 

What is most startling about Byodoin are the colourful motifs decorating the roof and pillars of the famed Phoenix Hall (additional 300 yen admission fee). The Chinese motifs and bright red, pink, green and blue hues of the decor that recall Indian colour schemes are mashed up in a manner that this Singaporean instantly associates with Peranakan aesthetics. 

Buddhism arrived in Japan in the sixth century from India via China, and it is evident from Byodoin that in the Heian era, Japan was beginning to synthesise these varied religious and aesthetic influences in a uniquely Japanese fashion. 

While the Phoenix Hall’s gold Amida Buddha statue is the star attraction, the smaller series of 52 Praying Bodhisattvas On Clouds is, to me, the more astonishing work.

Re-creations of these can be seen in the museum, which allows visitors to get up close to the ornate carvings. Each bodhisattva is depicted in a different posture and equipped with different props, including intricately detailed musical instruments. 

A statue of Shikibu Murasaki. ST PHOTO: ONG SOR FERN

The Heian period also saw the flowering of literary culture, the pinnacle of which is Murasaki’s The Tale Of Genji. There is a statue of the author by the river, and I stumble on a small museum dedicated to her book while wandering around the town. 

The chief attraction at The Tale Of Genji Museum (45-26 Uji Higashiuchi, Uji City; admission: 500 yen an adult; go to str.sg/9bVK) is the tiny auditorium. Two anime short films, inspired by the book and commissioned for the museum, alternate every half hour.

The modest museum has a few tableaus created from the book’s Uji scenes and the free English audio guide is helpful in introducing visitors to Murasaki’s aristocratic world. 

Games galore

Visitors interacting with a game at the new Nintendo Museum, located in a renovated old factory, in the suburbs of Kyoto. PHOTO: AFP

It takes effort to get into the Nintendo Museum (Kaguraden-56 Oguracho, Uji, Kyoto 611-0042).

First, you need to register for tickets (3,300 yen an adult, 2,200 yen for youth aged 12 to 17, 1,100 yen for children aged six to 11, free for children aged zero to five) three months before your visit. Yes – three months. 

To do so, you have to create an account on the museum website at str.sg/gH6u for a ballot. Choose three preferred dates for your visit, and the lottery will be held on the first day of the following month.

There are timed entries throughout the day, but visitors cannot choose their time slot.

If you get an afternoon slot, like I do, my advice is to prioritise your interests. If you are a hardcore geek, the museum’s second floor has a staggering array of artefacts tracking the company’s history, from its founding in 1889 as a maker of Japanese card games through to the 20th century as a pioneer in video games. 

Visitors on an interactive display of the traditional Japanese card game, Hyakunin Isshu, at the Nintendo Museum. PHOTO: AFP

If you are a kid at heart, save your time for the first floor, where the games are located.

The company has cannily built oversized versions of its popular Wii games, so you can play an ice cream-stacking game with a life-sized Wii controller, a shooting gallery game or a motion-activated version of the handheld Game & Watch. 

Pay for games with coins – your personalised entry ticket comes pre-loaded with 10 coins and you cannot buy more. 

The Big Controller (two coins) and Zapper & Scope (four coins) attract the longest queues – anywhere from 15 to 30 minutes – so factor that into your schedule.

Surprisingly, the game I have the most fun with has no queue. The Love Tester SP (two coins) requires two players to hold hands and cooperate in tasks such as catching falling blossoms in a basket and dodging aliens. 

I also sign up for the Hanafuda workshop (2,000 yen) to make playing cards. But in hindsight, I would rather have spent more time in the heritage gallery. It makes for a packed afternoon and I would revisit the museum in a heartbeat. 

Getting there

Multiple airlines – including Scoot, Singapore Airlines and Peach Aviation – operate non-stop flights from Singapore to Osaka’s Kansai International Airport. From there, it takes around 90 minutes to Kyoto by train.

Uji is most easily accessed from Kyoto. There are train services every 15 minutes on the JR Nara line from Kyoto to Uji. The rapid services will get you to Uji in 20 minutes, while the local services take 30 minutes. Tickets cost between 240 and 350 yen.

Where to stay

A traditional room at the Kyoto Uji Hanayashiki Ukifune-en. ST PHOTO: ONG SOR FERN

I stay at the Kyoto Uji Hanayashiki Ukifune-en (str.sg/9Na8), a ryokan located on the quieter side of town. The Japanese-style room ($210 a night) is clean and roomy, with a small balcony that offers a stunning view of the river.

The view from the Kyoto Uji Hanayashiki Ukifune-En ryokan. ST PHOTO: ONG SOR FERN

The ryokan is about a 20-minute walk from Uji station, and there are few food and beverage options nearby.

The hotel has an in-house restaurant that serves washoku cuisine (traditional Japanese food), but you need to book it at least three days in advance. Breakfast ($22 a person), too, must be booked at least a day in advance, an indication of the modest scale of this 28-room hotel.

Breakfast at the ryokan. ST PHOTO: ONG SOR FERN

But this rusticity is part of its charm. I have the onsen baths to myself for the two evenings I stay there and the still atmosphere is akin to a trip back in time.

Ong Sor Fern is arts editor at The Straits Times.

Now Boarding is a new series on destinations that are taking off. For more travel stories, go to str.sg/travel

More On This Topic

How contemporary art is bringing life back to Niigata’s rural areas

Head to Niigata for gastronomic treats and luxe ryokan

guidelines on screen time

SINGAPORE – The new guidelines on managing the screen time of children are unambiguous: No screen time for those less than 18 months old, a maximum of one hour a day for those aged three to six years and not more than two hours a day for those between seven and 12.

The guidelines, released by the Government on Jan 21, are part of the new Grow Well SG initiative to encourage children and adolescents to adopt healthier lifestyles. But the advice on screen use has set chat groups abuzz, with several parents saying that the guidelines were “not realistic” and “impracticable – too stringent to be put into practice”.

Health Minister Ong Ye Kung said that though the first set of screen use guidelines was released in March 2023, research since then has shown a stronger correlation between screen use and cognitive development in young children.

“Hence more decisive and effective measures are needed to shape children’s device usage habits as these affect their physical activity, social interactions and emotional well-being,” he said.

Going by the research done around the world and in Singapore, parents should take the guidelines seriously, as the effects of excessive screen time affect children not just in the immediate future but also in adulthood.

One study followed closely by researchers worldwide is the Growing Up in Singapore Towards Healthy Outcomes (Gusto) study.

In 2023, the longitudinal study reported that excessive screen time at 12 months is linked to impaired brain function related to attention and can possibly affect learning for years after that.

The study, led by Dr Evelyn Law, tracked 506 children at the ages of 12 months, 18 months and nine years.

At each stage, their parents reported the average screen time of the children.

When the children were 18 months old, they were put through a test called EEG, or electroencephalography, that measured brain activity. 

Then, at the age of nine, they participated in various cognitive ability tests that measured attention span and executive functioning, which included the ability to sustain focus and remember things.

The team found that children who were exposed to longer screen time had more “low frequency” waves in brain regions important for attention, indicating that the more the screen time, the less the alertness. 

The researchers also found more executive function deficits among children with higher screen times at the age of nine.

These are important findings – as children with cognitive or executive function deficits often have difficulty controlling impulses, sustaining attention or following multi-step instructions.

Dr Law, the lead author and an assistant professor with the Yong Loo Lin School of Medicine at NUS and a principal investigator with A*Star, explained that the fact that researchers could already see changes in brain activity at 18 months is worrying.

“At 18 months we could already see that children who spent more time on devices found it difficult paying attention and it became worse after nine years,” she said, adding that excessive screen time for infants is also associated with executive function deficits, which experts say matter even more than IQ in terms of achievement later in life.

More On This Topic

askST: Too much screen use can impair a child’s ability to focus on a task, says expert

No screen time, period: What are the new guidelines to help parents manage kids’ device use?

A longitudinal research study in New Zealand, called the Dunedin Study, tracked the development of residents for more than 50 years and found that poorer self-control in childhood correlates with being less able to handle health, social and financial issues later in life.

More immediately, attention difficulties make schooling difficult. Dr Law said that if a child is unable to pay attention, a simple exercise becomes a marathon. No matter how much the child wants to learn, the effort required is just too difficult.

Another area of executive function is impulse control – for instance, being able to say no when offered drugs.

What about learning on tablets?

Parents can be forgiven for thinking that tablets help with learning, as they see their children flipping an iPad intently and seemingly reading nursery rhymes and e-books on screens with rapt attention.

But, in fact, research around the world shows that infants do not learn from a two-dimensional screen.

Professor Georgene Troseth from Vanderbilt University, a leading expert in this field, found that toddlers shown video of an experimenter hiding a toy in the room next door are terrible at finding the toy in the real room immediately afterwards.

Dr Law agreed, saying that studies have found that children learn better from a person who is with them face to face than from a person on a screen, even if it’s the same person doing the exact same thing.

To questions from doubting parents on how having the TV on in the background can affect children, she said that for one thing, it can significantly hinder their language development by distracting them and limiting their ability to focus on meaningful language input from their parents and siblings.

She said: “Babies’ brains are super powerful. They soak up all the language around them as they try to make those first sounds.

“But not all language input is equal in terms of quality. Language is a social phenomenon and needs to come from human beings in person, not through the television. 

“Just watch a mother and child communicating – it requires going back and forth, paying attention and picking up cues like body language, vocal tone, facial expressions and more.” 

Dr Law, a mother of two girls aged 12 and 14, said the guidelines should include numbers to be useful. “You can’t advise parents to keep it to a minimum, because that could be one hour to some and three or four hours to others,” she said.

But she also advised parents not to get too caught up with the daily numbers, saying that one way is to assess the amount of screen time over a week rather than in a day.

She said: “So if your child was given a lot of screen time in one day because you were busy, think about spending more time with him on other days.”

More On This Topic

New national scheme aims to build healthy habits in children

Keeping children healthy in the digital age: 4 areas for early intervention

Of course, some of the rumblings are from guilt-ridden parents of older children who are worried that it is too late to turn back the clock.

The good news from experts is that executive function development does not stop until a person is in their 20s to 30s.

What this means for parents is that it’s not too late for children who have been spending too much time on screen.

The child still has the ability to develop good executive functions.

But parents need to be more actively involved and think through their child’s daily experiences, building positive elements and putting in clear limits if the amount of screen time is going overboard.

What parents can do

Dr Law said parents could be honest with the child, by sharing with them that studies have found negative effects from excessive screen time.

“Sometimes it benefits the kids to explain why there are these strict guidelines,” said Dr Law.

Parents can also consider implementing some rules at home to manage screen time.

Instead of giving a two-hour screen time limit, introduce a rule that says no screens one hour before bedtime or during meal times, so as to connect with the child, suggested Dr Law.

Another way is to get the children involved in planning more family activities, such as movie nights.

She also advised parents to preview programmes, games and apps before allowing their children to watch, play or use them. Organisations such as Common Sense Media have programming ratings and reviews to help you determine what’s appropriate for your child’s age.

Better yet, watch, play or use them with your child and seek out interactive options that engage your child, rather than those that just require pushing and swiping or staring at the screen.

But, of course, children at some point may be exposed to content that may harm them. Dr Law and experts advise that parents should try and get their children to think critically about what they see on their screens.

“It’s important as parents to talk to your child about the situations that could occur and the behaviour you expect,” said Dr Law. “Encourage your child to think critically about what they see on their screens. How does watching the content make him feel? If it’s disturbing in some way, does he think children should be allowed to watch such content?”

Dr Law said that while the research is worrying, even scary, there are things that schools, teachers, technology companies and parents can do to wean children from screens.

This is an issue impacting the majority of families and we will need collective action to bring about this shift.

More On This Topic

Singapore reins in app stores to protect the young

Eating out with kids: How to have happy family meals without mobile phones and tablets

save more

SINGAPORE – No one likes prices shooting up, but if we have to live with it, it is better we save more and cut down on unnecessary expenses that could rake up higher credit card debt.

This appears to be the sentiment of a huge majority of working folk here, as they have made great strides in saving more and reducing debt after being hit by inflation caused by global changes in recent years.

In a new OCBC survey of about 2,000 working adults aged 21 to 65, 94 per cent said they have been saving regularly – a significant improvement from the pre-Covid-19 poll in 2019 when 87 per cent said they were regular savers.

And 70 per cent are also disciplined in spending within their means by sticking to their budgets.

There is also a slight improvement when it comes to managing credit card debt and personal loans – 89 per cent now say they can manage their expenses well compared with 86 per cent in the 2019 cohort.

But there are at least five financial sins that continue to whittle away the savings of many people, and what is worrying is that such trends are unlikely to abate any time soon.

1. Gambling

About 40 per cent of those polled are still betting more money than they can afford on Lady Luck. While it is only human to make regular small bets or the occasional bigger ones on festive draws, you are in danger of becoming an addict if you cannot resist betting hundreds of dollars every week.

As in any game of chance, spending more does not ensure that you have a better chance of winning than those who spend much less.

Ultimately, you will become the biggest loser if you bet more than you can afford because banking on winning in gambling is never a viable retirement plan.

2. Not settling credit card bills

It is such a big contrast – some people take pains to put their money in risk-free bonds and fixed deposits that earn 3 per cent to 4 per cent, and yet there are those who just let their credit card debt incur a whopping 25 per cent annual interest charge.

This unhealthy habit is especially acute among those under 30, with more than 40 per cent of them often just paying the required minimum sum every month, the OCBC poll noted. This means the balance and the interest on the debt will roll over and continue to grow.

It is very hard to get out of a credit card debt trap, even if it is just $20,000. You will need about four years to clear this if you pay $600 a month and almost two years if you pay $1,200 a month.

Before you charge a holiday or a luxurious item that you cannot afford on your cards, ask whether you are prepared to suffer financial ruin over such expenses.

3. Speculating on stocks

Many young investors have been betting on popular US technology stocks because the volatility can result in price swings of up to 10 per cent in a single day. Of course, most people focus on the instant wins, without realising that such gains can also be erased when the price swings the other way.

The poll found that 26 per cent of investors would make excessive gambles with the hope of quick gains in the stock market. If you follow the horde blindly and make bets on stocks based on popular sentiment, you could end up with huge losses if you are slow in cashing out when the price drops.

4. Keeping up with pretences

Many people like to flaunt their “wealth” on social media, with the intention of making their friends believe that they are living the high life. If this is true, the number of people in the workforce should drop drastically, since there are already so many wealthy people living among us.

The reality is that 27 per cent of young people who do so are actually spending beyond their means just to live it up in a dream world that they cannot afford. For instance, they tend to splurge excessively on concert tickets, holidays and branded accessories.

There is no joy in living in such short-lived pretences because you will just fall deeper into the debt trap.

More On This Topic

When debt causes couples to break up

Can divorcing spouse sell home to pay gambling debt first?

5. Sponging off friends and relatives

All of us loathe colleagues, friends or relatives who are quick to join the group for outings and meals and yet often “conveniently forget” to pay for their share. As if that is not bad enough, about 6 per cent would even ask for loans that they would not bother to return, noted the poll.

Ultimately, all of us should think twice about encouraging all these financial sins because nothing ends a relationship faster than disputes over money.

High interest rates led to more savings 

Higher interest rates in the past few years have imposed burdens on people with loans and mortgages to pay, but they have certainly brought much cheer to those with extra cash to spare.

The higher returns for safe investments such as fixed-income securities, bonds and deposits have encouraged around 10 per cent more people to save for their retirement.

Those who do so even saved about 10 per cent more, by allocating up to a quarter of their monthly salary for such investments, up from about 16 per cent of their income previously.

As a result, over 60 per cent of working adults here can enjoy additional income from such risk-free investments.

Unlike property investments, which require substantial cash outlay, most people can set aside fixed-income savings that are based on their affordability.

As a comparison, about 20 per cent of investors here have additional properties that would enable them to earn rental income.

Younger couples are not as savvy 

It is common to assume that couples who are working but have no children are probably quite well off since they enjoy two sets of salaries, but the OCBC poll appears to show otherwise.

For a start, most of them do not seek professional advice when it comes to investing as they prefer to do it on their own, such as making bets on the US stock market via online platforms.

Not surprisingly, about 60 per cent of them have not even started planning for their future simply because they are focused on day-to-day expenses.

Many of those polled even indicated that they have no intention of making such plans in the near future.

Some of them may have more disposable income, but about 40 per cent have the tendency to overspend because they do not monitor their expenses.

It is no wonder the poll found that many of these younger folk underestimate the amount needed for retirement, especially when they wish to retire by the age of 55.

They have not made any viable plans for retirement and yet hope to retire in their own private homes, as well as be able to afford to drive “high-end” cars and have long holidays at least twice a year.

Ultimately, the purpose of such surveys is to highlight some pain points of life so that we can be more enlightened and make plans for them.

Many people aspire to retire early so that they can start enjoying the good life. You can most certainly aim for this, but note that money does not drop from the sky so you need to work hard to plan for it now so you have more to spend in the future.

More On This Topic

Struck a lottery while married? Prize deemed part of marital assets

Invest microsite: Get more investment and career tips

3000 a year

SINGAPORE - Many of us would be pretty pleased to have $612,000 sitting in a bank account when retirement looms, but believing that will be enough to see out your golden years would be a risky leap of faith.

That precise amount wasn’t pulled out of thin air: It was the sum that came up in a poll of 3,000 people here who said they would feel financially free if they had this much cash at their disposal.

Those polled said this was a comfortable sum, presumably because it would enable a person to have $2,500 a month to pay for their expenses from age 65 to 85.

Any financial planner worth their salt will tell you that it is never wise to make plans this way, simply because what’s good on paper may not actually pan out in real life. It is not practical to focus on a fixed sum as it may not be enough if you live a long life or are hit with big expenses like medical treatment.

Moreover, everyone’s needs are different. Those who live frugally may not even need $2,500 a month, while this sum is certainly not enough for those who plan to travel regularly in retirement.

But one thing is clear – insurer Singlife’s poll is spot on in sounding the alarm that retirement planning is a long-term affair because most people usually need around three decades of working and saving to set themselves up right.

Being financially free has been a popular clarion call for many people in their 20s and 30s because of the popular notion on social media suggesting that it’s possible to retire at 40 if you have amassed $1 million.

But a simple calculation will show that if you need to spend around $3,000 a month from the age of 40, that sum is unlikely to last you beyond 70.

Even this assumption is inaccurate because it does not consider expenses such as medical and insurance costs, which balloon as we get older.

No wonder when Singlife carried out that survey here in 2024, 40 per cent of respondents worried that they would have problems achieving financial freedom. Significant roadblocks were cited, including insufficient income (noted by 53 per cent), unforeseen expenses (38 per cent), job insecurity (32 per cent) and debt burdens (28 per cent).

Here are three insights from the poll that you should know.

More On This Topic

Why it pays to plan for retirement income of up to $3,300 from your CPF

How to make the most of CPF after the Special Account closes

How and where to retire 

About 80 per cent of those polled said they aimed to retire by 65 and that they would need about $2,800 a month for daily living expenses.

This amount is similar to that in other poll findings, which seem to nominate $3,000 or so as the desired monthly amount for a decent retirement, which includes the ability to maintain a car and to travel for short holidays overseas.

This means a couple should aim for about $6,000 a month so that they can keep living as they did before retirement without too many cutbacks.

About 80 per cent of those polled said they would prefer to retire in Singapore. People wanting a change of scene cited countries like Malaysia, Australia, New Zealand and Thailand.

They believed they could afford the lower cost of living in those countries, plus enjoy the slower pace of life and milder climate.

About 60 per cent put travelling as one of their top priorities in retirement. About half wanted to spend more time with loved ones, and about the same percentage looked forward to taking up a hobby that they could not indulge in when they were younger.

Frankly, it is good to have an aspiration for your retirement because it can push you to plan for it today.

Understanding that retirement does not come cheap should spur you to watch your outlays because you cannot spend every dollar that you are earning now as you need to keep a substantial portion of it for your needs when you are no longer working.

For instance, how will you have enough to travel after you stop working if you spend the bulk of your savings now by taking overseas holidays every year?

If you think you need $3,000 a month after retirement, make sure you do the sums correctly now because the amount you would need to meet this from age 65 to 85 alone would be $720,000.

Under-insurance is a concern

Let’s face it. Nobody likes to think about insurance because it is an expensive product and many of us like to muddle along in denial, believing that nothing bad will happen to us.

But insurance is one of life’s necessities because it can help lessen the financial burden if calamity strikes.

So it is a concern that the poll showed that fewer than 40 per cent of people in Singapore had critical illness coverage, something all working adults should have.

Many people have the wrong idea that they don’t need such coverage because they are covered by their companies’ group medical insurance, or that they have their own private hospitalisation plans.

More On This Topic

Why it’s hard to start planning for retirement if you wait till 50

Working adults are saving more but many still overspend and gamble too much: Poll

But these policies pay only for your medical bills and not other expenses you may incur. In the worst-case scenario, a critical illness may even result in unemployment if the patient is too sick to continue working.

This is why such policies come in handy. If one’s illnesses are covered, one can receive lump sum payments or monthly ones over a certain period that make up for the loss of income.

It is prudent for working adults to plan for this, for the same reason you take up travel insurance when you go on a holiday – it lessens the financial pain if something bad happens.

Similarly, close to half of those polled did not own any life insurance policies.

While singles might think it is not beneficial to own a policy that pays only upon death, couples should view such coverage as a necessary part of legacy planning for their loved ones, especially when they are still working.

The premiums for regular life policies are payable for life, so you should opt for a policy that enables you to stop paying after you hit a certain age, such as 60.

If you have such a policy, you can either keep it for your beneficiaries or cash out in old age, without having to pay for it after you stop working.

Critical to have retirement income

Unexpected expenses often cause us to have less savings in some months, especially when someone in the family falls sick or a household appliance breaks down.

Now imagine the same things happening to you in old age when you are no longer working. If you do not have a continuous retirement income, such as decent monthly payouts from the national annuity scheme CPF Life, big unplanned expenses will whittle away your savings.

No wonder then that many people here feel stressed over the prospect of not having enough to spend (cited by 42 per cent of respondents in the poll), even as they worry about rising living costs (46 per cent) and healthcare and medical bills (41 per cent).

Finally, many people dislike reading about surveys relating to financial planning because they think these are ploys to get them to buy more products.

The truth is, such surveys are no different from your health screening reports; you should pay attention to the results so that you can take preventive measures against possible pain points.

After all, turning a blind eye to your financial situation is not going to make your expenses go away. Instead, you should be keen to know whether you will ever feel financially free, given how you manage your money today.

• Tan Ooi Boon is the Invest Editor of The Straits Times

More On This Topic

Working adults are saving more but many still overspend and gamble too much: Poll

Invest microsite: Get more investment and career tips

invest the angbao

SINGAPORE – Kids can reap a windfall during Chinese New Year with money received stuffed into red packets, but often, that hongbao cash sits idle in a savings account earning a pittance.

A better idea is to look for higher returns, says Mr Aaron Chwee, head of wealth advisory at OCBC, who notes that there are other “strategic options” for the money.

But before parents look at ways to increase a child’s hongbao cash, financial advisers say they need to ensure that they themselves have emergency funds of at least three to six months of expenses.

Any comprehensive financial plan for a child should have both insurance and investment components. 

Insurance protection products, such as a personal accident plan and an Integrated Shield Plan for hospitalisation, ensure there is adequate coverage against unforeseeable injuries or accidents, says Ms Helen Shen, group head of products at Singlife.

Whole life insurance is a nice-to-have if there is extra hongbao money but parents must make sure they can afford the premiums, which can hit $1,200 a year over a premium payment period of 15 years.

Ms Irma Hadikusuma, chief marketing and healthcare officer at AIA Singapore, says whole life insurance premiums are lower for young people. The premiums are locked in and do not rise as the child gets older so parents essentially pay the same amount throughout the payment term.

Whole life plans also cover the child for his lifetime, with the option to add on coverage for critical illness, Ms Hadikusuma says.

Once basic protection needs are taken care of, parents can focus on the child’s medium-term financial goals which, for most, will be a tertiary education.

Mr Thomas Lee, chief product officer at Manulife Singapore, says parents can use the hongbao money to buy an education savings plan – a type of endowment plan designed to help parents save and grow wealth for the purpose of funding future education fees.

This plan fosters discipline, says Mr Abel Lim, head of wealth management advisory and strategy at UOB, adding that “it makes you focus on your end goal and contributes towards building that pot of money for future needs”.

Ms Lorna Tan, head of financial planning literacy at DBS Bank, adds that education savings plans pay out a sum of money at specified intervals during the policy term.

These payouts can be timed so that parents will have the money to foot education bills at different milestones, such as when the child goes to university.

More On This Topic

Why it pays for students to learn personal finance

Increased pre-school expenses contribute to higher education spending among S’pore families

There are single-premium or regular-premium endowments. Single-premium plans usually require substantial upfront investments of at least $10,000, says OCBC’s Mr Chwee, while regular-premium plans are a longer-term commitment.

UOB’s Mr Lim adds that if parents have to terminate the policy early because they cannot meet the obligations, they may not get back the principal – all the premiums paid so far – in full.

So parents should choose an endowment plan with a payment term that they know they can commit to and which will give them the desired payouts at the specified times. 

“If the kid is planning to go overseas, you know when you need the money,” says Mr Lim.

“Buy the correct tenure; that will be the most efficient way for one to contribute towards tertiary education.”

Because endowment plans guarantee a minimum sum assured upon maturity, they give parents a sense of security and predictability, says Ms Claudia Soh, chief financial officer at Etiqa Insurance Singapore.

Ms Soh adds that there are other low-risk investment options, such as Singapore Government Securities (SGS) bonds, for excess hongbao money. 

SGS bonds with maturities ranging from 10 to 15 years, or even 20 years, are more suited for parents whose goal is to save for their children’s tertiary education.

With a minimum investment of $1,000, “you would be able to secure predictable returns whilst being assured that it is of minimal default risk”, Ms Soh notes. 

Parents who can tolerate some risk could set up a regular shares savings plan with the hongbao money. 

Ms Ashmita Acharya, head of international wealth and premier banking at HSBC Singapore, says regular shares savings plans are a great entry point for new investors, as they require a low initial investment and the monthly contributions are manageable. 

Such plans essentially apply the dollar-cost averaging strategy by investing small amounts at regular intervals, regardless of market conditions. This takes the emotion out of investing and instils discipline as investors stick to their plans.

More On This Topic

This Chinese New Year, I am going to do something about my daughter’s red packets

More e-hongbao gifted in 2024; trend expected to continue this year

There are a variety of blue-chip stocks, exchange-traded funds (ETFs), real estate investment trusts (Reits) and unit trusts that these plans can buy into. 

A child has to be at least 18 years old before he or she can open an investment account, so parents will have to set up a joint account with their child before they can start investing through the regular shares savings plan.

Hongbao money deposited in that account can be used to buy stocks, ETFs or Reits, allowing the child to start investing from just $100 a month, says OCBC’s Mr Chwee.

When the child comes of age, parents can grant him access to the joint account so that the child can manage his own investments.

Some parents may have even longer-term goals, such as helping their children to buy their first home or build up their retirement savings.

They can do so by topping up the child’s Central Provident Fund (CPF) accounts with hongbao cash.

If their intention is to help their children accumulate a retirement nest egg, they can do a cash top-up to the child’s Special Account (SA) under the Retirement Sum Topping-Up Scheme.

However, there will be no tax relief for cash top-ups to a child’s SA.

A CPF Board spokesperson said that about 3,800 children under the age of five had balances in their SAs as at Dec 31 2024, with a median sum of around $1,000.

The CPF Board points out that cash top-ups to the SA are a long-term commitment to grow retirement savings so these top-ups cannot be reversed. The money is locked up and cannot be withdrawn for other purposes such as housing, investment or immediate needs.

Parents can also do a cash top-up to their children’s MediSave Account (MA) up to the Basic Healthcare Sum – $75,500 in 2025.

The MA can be used for healthcare needs and to pay premiums for the Integrated Shield Plans offered by private insurers for hospitalisation.

More On This Topic

How should young people manage their ‘hard-earned’ hongbao money?

Me & My Money: Setting up a business before turning 30

DBS’ Ms Tan says: “If you are worried that you will rack up medical bills in your old age, then this option would provide an additional safety net as your child will be able to use the funds to cover your medical bills, too.”

She adds that parents can consider a cash top-up under the Voluntary Contribution Scheme.

They can make small and regular contributions to all three of their child’s CPF accounts – the Ordinary Account (OA), MA and SA.

Parents cannot choose to top up only the OA under this scheme as the amount contributed will be distributed to all three accounts.

The allocation rates for those under 35 are: For a cash top-up of $100, $62.17 goes into the OA, $16.21 to the SA, and $21.62 to the MA.  

Ms Tan says OA top-ups will go some way to funding a child’s tertiary education and other big-ticket expenditure like housing. 

Financial planning is not just about wealth, it is also about achieving good health, says Mr Jason Lim, head of product management at Prudential Singapore.

A Prudential survey found that 85 per cent of Singapore residents believe health is more important than wealth. Most also indicated that good health is a foundation for pursuing other life goals.

So, in this Year of the Snake, parents may want to consider using some of their children’s hongbao to invest in their health and well-being.

“Encouraging active lifestyles from a young age helps build strong habits that can last a lifetime,” Mr Lim adds.

More On This Topic

Does the ‘no buy’ challenge help you save?

Invest microsite: Get more investment and career tips