The best time to invest was when you drew your first pay cheque. The next best is now

LIFE in university halls of residence was packed full of activities, Sheila recalls. It felt like only yesterday. She reminisces that she felt richer as a tertiary student with a generous allowance from parents to cover her expenditure during undergraduate studies.

Sheila now earns an above-average income. But because she has to pay for food, travel, mobile phone, insurance, entertainment as well as contribute to the family, she chalks up a credit card debt at the end of each month. Although small, the outstanding balance accumulates into a tidy sum which gets paid off when her bonus arrives at the close of the financial year.

Like for some of her peers, retirement planning is not in Sheila's vocabulary. She has set her sights instead on a car. For her, continuing an action-packed hall-like life is a must. After all, you only live once.