Yesterday's Straits Times reported that the gahmen may raise the re-employment age to 67 allowing people to work till 67 if they chose to. That is, companies are obliged to continue to employ these older workers till they are 67.

This changes my thinking and plan suddenly. Before, I was planning to retire when I am 57 or 58 when my youngest child enter the workforce. That would be 3 more years to go. But now, suddenly I can work for another 10 years after that!

10 more years of work means 10 more years of income. How will it change my plans?

1. I can plan to buy another new car. Before, I was planning to use my current car till the COE runs out (in 3 years time) and be car-less.

2. Can still invest in another property. 10 years is a long time to accrue a lot of savings especially when the children are no longer financially dependent on you.

3. Can renovate current home and upgrade household appliances. Previously, was resigned to be stuck with current condition of home and appliances.

4. Instead of wondering what to do in retirement, now that worry will be pushed further down the road.

5. Can spread the holidays instead of cramping them up in the few years of retirement as previously planned. In fact, if we go visit those places during our working life in the next 10 years, we will not need to visit them anymore when we retire eventually, further saving us more money.

6. Medical bills will at least be covered by the company for another 10 years!