Kopi Costs More, But So Can Your Future

1 day ago
4 min read

Written by: Donatus Khong

Why Do We Work So Hard?

Every single day, many of us wake up early, go to work, spend 8–9 hours at the job, and head home after that. It’s a routine that feels repetitive/monotonous, but now and then, we pause and wonder: Why do we keep doing this?

For some, it’s passion. For many of us, the drive comes from a deeper place, the desire for freedom, flexibility, and having more choices in life, not just a paycheck. And yet, even with years of hard work, the struggle and pain of not attaining real financial freedom remains.

The Financial Strain of Rising Costs

As Singaporeans, we’re grateful for stability and opportunities to earn. But even with a steady income, that invisible pressure is real. Think about the conversations we hear around us, “I have to work,” “I can’t afford that right now.”

Eddy, 34, a market analyst, describes it as living in a “Jack Neo reality”, where “money no enough.” The real issue isn’t just inflation. It's the rising cost of living, growing responsibilities, and the constant sense that it’s never enough to truly live.

Cost of Living or Inflation? We Feel Both

Though they’re different, most of us experience cost of living and inflation as one thing, the feeling that everything is getting more expensive. Even though official figures say Singapore’s inflation is down to 2.4%¹, our kopi prices, transport fares, and hospital bills still seem to creep up. It’s especially noticeable if you’re raising kids or supporting aging parents.

For lower-income households, the squeeze is tighter, food, outpatient bills, and public transport make up a big part of everyday spending. When those go up, it’s not just numbers on paper. It’s the daily stress of making ends meet.

Note: Cost of living refers to the amount of money needed to maintain a certain standard of living, while inflation is the rate at which prices for goods and services rise over time.

When Your Time Becomes Your Biggest Financial Asset

Most of us depend on active income, earning by trading time for money. It works for now. But what if something unfortunate happens and we are unable to continue working?

It’s during those moments that many of us start thinking about building another stream of income, one that doesn’t rely on being “on” all the time. That’s where passive income comes in. Not to replace our jobs, but to support us in the long run and offer some breathing room.

Dave, 30, a self-employed realtor, says having a bit of passive income “gives him peace of mind, knowing that even if he needs to step back, something’s still working in the background.”

Building Passive Income for Greater Financial Freedom

With everything going on globally, job cuts, market instability, political shifts, it’s understandable to feel a little uncertain. More and more people are starting to ask:

What would happen if I lost my main income?

Passive income is about creating options, allowing us to make desirable decisions as we wish and not leaving it to fate.

How to Start Building Passive Income

1. Start with a Purpose

It’s hard to stay consistent with a financial plan if we don’t know what we’re aiming for. That’s why the first step is simply asking: What is the desirable lifestyle that I want?

Kuan Wei, 31, a senior executive, shared that he hopes to retire at 65 and be able to spend more quality time with his family. This vision gave him motivation to kickstart his financial journey.

2. Know Where You Are Right Now

Through the MTFA (More Than Financial Advisory) movement, Kuan Wei identified his goals and priorities. He had a clear understanding of his current reality and connected his financial position to a bigger picture of his life. This gives him a stronger foundation to make decisions that align both his personal values and financial well-being.

3. Use Tools That Make It Easier

During the financial analysis discussion, Kuan Wei shared about his current personal and financial situation. Using a robo-assisted financial tool, Merlin, Kuan Wei managed to understand his financial standings through a comprehensive financial health report. It essentially acts as a financial GPS, helping him to make accurate decisions closer to his desirable financial future outcomes.

Creating More Freedom for Your Future

Passive income may sound like a buzzword, but at its core, it’s about creating the freedom to breathe, to stop living paycheck to paycheck and start building the life you truly want.

Whether it’s caring for loved ones, preparing for uncertainty, or simply making time for what matters most, it all begins with knowing where you stand and taking that first step forward.

If you're ready to explore what that might look like for you, our team is here to support you. No pressure, just a genuine, open space to have honest conversations and figure out the next steps together.

Disclaimer: This content is for informational purposes only and does not constitute legal and financial advice on any subject matter. It should not be relied upon as financial advice.