Singaporean wants a career break but wonders: ‘How much is enough?’

SINGAPORE: With more workers recognising that life cannot revolve around work forever, taking a career break is becoming a more accepted option for those looking to step back, recharge, or simply figure out what comes next.

According to LinkedIn’s 2024 Workforce Confidence research, 62% of workers globally said they had considered taking a career break.

For one Singaporean, the idea sounds appealing, but there is one major question: how much money is enough to comfortably survive without a steady salary?

Recently, he took to Reddit to ask fellow Singaporeans how they had prepared financially before stepping away from work.

“How did you plan financially towards this since money will never be enough? PHow did you plan financially towards this since money will never be enough?”

‘You really don't need a lot of money’

Under the post, one user said he took a career break at 34 and felt more comfortable doing so because he had a side hustle that could cover his basic living expenses.

“The thing that gave me confidence was a side hustle, so the knowledge that even if the job wasn't there, I could still use the side hustle to make a living,” he wrote.

“It’s hard to save up a million, but it might be easier to do work on the side that pays for your monthly expenses. The leaner you are, the lower that side hustle income needs to be. Hope it helps!”

Another user said he took a two-year career break to pursue a part-time master’s degree. As he lived with his parents, who were financially self-sufficient, he was able to stop giving them an allowance during the break.

“I’m living with my parents, and I'm lucky that they are self-sufficient, so I stopped giving allowance when I started my break,” he said. 

“Besides setting aside daily expenses and school fees, I also set aside money for insurance and income tax. Overall approx S$100k - school fees took up ~S$50k.”

A third user said she spent five months on a working holiday in Melbourne with her boyfriend after completing a major professional milestone. 

“I had just completed a major professional milestone, was exhausted, and wanted to change companies.”

“My total expenses for those 5 months added up to S$22k, which includes flight, daily expenditures, road trip expenses, and Airbnb rental. It also includes pre-existing financial commitments that I have in SG like insurances, investment plans, phone bills, and my contribution to home allowances for staying with my parents.”

She added that she managed to pick up a part-time job during her break, although she earned only S$2,800 from it.

A fourth told him, “In my opinion, you really don't need a lot of money to take a year's break. If you still live with your parents, even as low as S$20-30k can be possible.”

‘Anyone encouraging this lazy behavior is actively sabotaging your future’

Not everyone, however, encouraged the Singaporean to take time off. Some were concerned that leaving the workforce could be risky given the current job market

One wrote, “Taking a career break in Singapore's economy is financial suicide. The gap on your resume guarantees you’ll get lowballed when you try to rejoin the workforce. Anyone encouraging this lazy behavior is actively sabotaging your future just to make themselves feel better about their own dead-end careers.”

Another suggested, “Why not work harder now while you are young and still can, then take the pedals off in the future? Unless your career break is to do something super extreme that you can only do when you are young?”

Read also: ‘No more stressing about looming payments or interest’: Man ecstatic after giving up his car in SG