I think my investment banker friend says it best when he tells me he's "making hay while the sun shines." He's earning and saving as much as he can, even though he's got quite some way to go before he hits 40.
He is a fool who thinks that good times will always continue and does not plan for obsolescence. Everyone has a shelf life, some longer, some shorter.
If you're modelling for Clubsnap members, I doubt that you will get many assignments beyond 25 or 30.
If you're a manager or engineer, I would estimate that 40 is about the limit, unless you're in the top 5% of your cohort, in which case you become part of the "establishment". Otherwise you become dispensable, and a liability to the company. High salary, higher medical coverage. It only makes sense to get rid of you and hire a younger, healthier, hungrier, more eager-to-please replacement. Sad thing is, most middle class Singaporeans fall into this category, and they are hit hardest by the middle class squeeze.
I count myself fortunate to be in a profession where experience is valued, and self-employment is a viable option, but even then I don't expect many people will want to see me when I'm 70. I expect my expiry date to be about 65 (if I live that long, that is).
So if you're a manager or engineer, what are the options?
I know of quite a few financial types who "retire" to start their own "consultancy firms". Not being in the line I'm not sure what that means, but the bottom line is that you become self-employed. There are others who use their nest egg to invest wisely and live off the proceeds.
Those who don't plan ahead end up as taxi drivers and grocery baggers at the supermarket. You've seen them, I'm sure.
I've always believed it's best to start off being your own boss right from the beginning. You may struggle a little more than your employed peers at first, but nothing beats the satisfaction of knowing that whatever you earn goes into your own pocket, and in the long run, you're a lot better off. Imagine trying to start your own business at the age of 40 rather than 20.
And hey, I heard wedding photographers make a lot of money....