We all have a different calling in life and we are born with different talents to achieve it. Whatever the calling is, money remains an important tool to enable us to achieve them.

Let's say your calling is to do eradicate poverty. You will do this best by eliminating illiteracy, providing useful skills and creating jobs for impoverished people. And you will be able to help in a big way if you have money, like Bill Gates and Warren Buffet who set up charitable foundations which employ many professionals to carry out the tasks for them. But do they quit their jobs and go help the poor by themselves? No, that would be disastrous. The poor don't need Bill Gates' and Warren Buffet's time, they need their donations!

What can we do since we are no Bill Gates nor Warren Buffet? We can still do our part in our own small way to our less fortunate neighbours - by remaining in employment, contributing to our economy through our spending.

If people start retiring once they hit 50, you can imagine the huge implication this will have on our small country. First, the labor force will shrink significantly and companies will relocate overseas or close down. This will mean that the younger workers will also lose their jobs. Secondly these young retirees will start cutting down their spending, leading to less demand for goods and services in general. Again this is no good for the economy. Thirdly, when people stopped work young, they will have to stretch their savings over a longer retirement period. This is a dicey position to be in, because there are just too many unknowns that can crop up and when they do, you will not have the funds to handle them.

By working as long as we can say, even pass 65, we can continue to live our lives to the full. No need to watch our spending closely. We can afford to give ourselves more frequent treats like buying a new car even at 65!, going for that overseas trip to attend our children's graduation and stay on for an extended holiday. When we continue to work and spend, we provide a crucial lifeline to our economy.

Besides the financial benefits of working, there is also the social aspect. Once retired, I see many people become reclusive, counting and weighing every single cent they spend, avoiding social gatherings and even hiding from relatives' wedding etc..

Finally, if you can still work at an advanced age, it means you are still capable and that your company still values you.