Preparing for a career that will last longer than previous generations. What you should be doing today

When you choose your occupation, you should lean towards doing what you love rather than what pays you the most or what is easy. Adopting this approach to career planning can result in not only having a long career, you want to have a long and fulfilling career.

Even if you are able to earn more money in another occupation, that may only be at the beginning. There is a good chance that if you enjoy your work, you will take the extra initiative to excel at it. As your career path takes shape over the longer-term, your earnings potential will rise alongside your expertise in the field.

This may be more valuable than starting off in an occupation that pays higher, but you have little interest or motivation in outside your working hours. In the long-run, being in a career you enjoy may also pay you better. 

Today, many Singaporeans are already expected to be in the workforce for close to four decades, between the age of 25 to 65. In the future, as life expectancy continues to increase, you may be expected to work even longer.

This only increases your likelihood of falling into a career pitfall as more jobs become automated or redundant. Even if your job is not affected, you will definitely be required to pick up updated or complementary skills, and knowledge to be good at your job.

As you age, your preference in what you want to do may change and your ability to do certain jobs may be impacted. This only adds to the argument that everyone needs to take an active approach to career development by upgrading, upskilling or learning entirely new things to remain relevant in the workforce. 

While statistics point to Singaporeans living longer and healthier lives, no one should take health for granted. You still need to maintain your wellbeing to continue being a productive member of the workforce into your 60s or 70s.

This includes eating right, exercising regularly, spending quality time with family and friends, going for regular health screenings, and avoiding bad habits like smoking.

To encourage you to consistently prioritise your wellbeing, AIA Vitality is a health and wellness programme that rewards you for taking active steps to know your health and improve your health.

AIA Vitality encourages you to understand your body by taking online assessments and then going for specialists checkups, including health screenings, vaccinations, dentals, and nutrition and fitness assessments.

This information will then aid in your journey to improve your health by staying active, eating well, reducing stress and sleeping well.

To motivate you to stay in the pink of health, you are rewarded with AIA Vitality points, discounts on AIA insurance premiums, health screenings and vaccinations, gym membership, fitness devices and sportswear.

A financial safety net for yourself and your family takes unnecessary pressure off your shoulders, enabling you to make better career decisions. As many of you will spend increasingly more time in employment than previous generations, you also need to ensure that your financial safety net evolves in tandem.

Short-term safety nets such as your emergency and other savings can help when you encounter periods of unemployment through retrenchment, caring for a newborn or loved ones, or ill-health.

Longer-term safety nets are equally important, such as your CPF for retirement, your home for your family and your investments for your children’s education or your own retirement.

There are also unforeseen scenarios that you need to consider when putting in place a comprehensive financial safety net for you and your family. This includes your life insurance, providing a payout for your family if you are no longer around to provide for them, as well as your health insurance, for hospitalisation and critical illnesses.

As you prepare for a career that will span longer than previous generations, you want to be able to do something fulfilling and continually develop your skills. However, you should not neglect other important areas in your life, which provide balance and ultimately help you excel in your career. This includes experiencing life, caring for your health and also implementing prudent financial safety nets.

The greatest risk to achieving your life and future career goals is to be hit with a major illness during the most economically-productive years of your life. That’s where AIA Power Critical Cover comes in. This innovative plan provides comprehensive coverage through every stage and outcome of critical illnesses – giving you peace of mind from the point of early detection of chronic conditions to the diagnosis of 150 critical illnesses, including being diagnosed with multiple critical illnesses and in the face of relapse.