TAKEAWAYS
In decades past, the traditional role of women was in the home – as a full-time wife, mother and homemaker. This role has been evolving and in recent years, the trajectory has been to graduate from school, secure a stable job, get married, and start a family. But today, that narrative has shifted again. Across the world, more women are rewriting the script, and embracing singlehood as a deliberate, fulfilling way of life.
Samantha Lee is living proof. After more than two decades in leadership roles at top financial institutions, she walked away from the corporate grind, trading endless meetings and tight deadlines for the freedom to shape life on her own terms. Now 49 and semi-retired, she enjoys the flexibility of freelancing. Years of strategic investments and rental income afford her the luxury of choice – whether dedicating time to volunteer work, travelling, or simply enjoying the company of loved ones.
“Being single means I have complete freedom to do what I like, whenever I like, without having to shoulder additional financial burdens, or accommodate another person’s schedule or opinions,” she said. “I also don’t have to manage someone else’s emotions or family affairs, which means I have full control over my lifestyle, time and decisions.”
Ms Lee’s outlook reflects a global shift in attitudes towards marriage and singlehood. A report from UN Women reveals that the number of women who have never married increased in the two decades between 1990 and 2010 by 1.2 percentage points. Worldwide, 4.3% of women reach their late 40s without ever marrying. In Australia and New Zealand, one out of every seven women in their late 40s never married, while across Europe and North America, the same is true for about one in nine women.
In Singapore, the numbers tell a similar story.According to a 2023 report by Statista, 29.5% of Singaporean women aged 30 to 39 with university degrees were not married – the highest proportion among educational groups.
A key driver of this shift is financial independence. According to Singapore’s Ministry of Social and Family Development (MSF), the female labour force participation rate rose to 76.6% in 2023, up from 69.2% a decade ago. Women are also making strides in leadership, with 39.8% holding middle and senior management positions in 2023, as reported by the World Bank’s Gender Data Portal.
Sonia Fung, an entrepreneur in her 40s, sees singlehood as an opportunity, not a limitation. “I can prioritise my personal goals – whether it’s growing my business or pursuing my passions and hobbies – without compromises,” she said. “Financially, I have complete control. I’m able to make bold career moves, invest in what I believe in, and plan my life the way I want.”
While financial security and career advancement have empowered many women, their paths to singlehood differ. “Work, friendships and personal pursuits like sports kept me busy. Before I knew it, I was in my 30s and still single. But honestly, it felt right,” said Jennifer Chia, 37, a finance professional. “I’ve seen enough failed marriages – even within my own family – to know that marriage isn’t a guaranteed road to happiness. I never felt it was something I needed.”
For Rachel Seah, a business and international development strategist in her early 50s, being single wasn’t a deliberate choice, but divorce reshaped her path several years ago. “It was tough at first, and I struggled with the perceived stigma of being single,” she said. “But friends, family and colleagues were supportive, and I realised that the judgement was all in my head. In truth, there is no real societal stigma around divorce or singlehood anymore.”
While she remains open to meeting someone, she’s discovered that she doesn’t need a relationship to feel happy or secure. Now, she focuses on self-care and rediscovering the things that bring her joy.
Unlike previous generations, today’s women take a deliberate and strategic approach to both financial stability and social well-being. For Miss Fung, this means being methodical about her investments while also nurturing meaningful connections. “Being single pushes me to be proactive about retirement planning,” she said. “But financial security alone isn’t enough; I’m also investing in strong friendships and a supportive community.”
Studies show that singles tend to have more friends and maintain stronger friendships than married individuals. A 2023 report published in The Conversation states that “being single increases connectedness”. Their networks tend to be more expansive, with singles more actively involved in their broader community. Marriage, on the other hand, can be more insular. When you have a partner, you are less likely to look outwards for support or rewarding social interactions because you already have a close relationship at home to depend on, reported The Conversation.
Ms Seah reflected, “When I was married, I spent most of my weekends with my husband. Since my divorce, I have made a conscious effort to reconnect with old friends, spend more quality time with my siblings, nieces and nephews, and make new connections through classes and interest groups.” Financially, she has remained secure post-divorce, with multiple properties and a self-sustaining income.
Yet, even as women advance professionally, disparities persist. In Singapore, full-time female employees aged 25 to 54 still earned 14.3% less than their male counterparts in 2023, though the gap has narrowed from 16.3% in 2018, according to Singapore’s Ministry of Manpower (MOM).
For single women, this wage gap has significant implications. Not being in a dual-income household where financial burdens can be shared, they must navigate home ownership, healthcare and retirement planning entirely alone – all while possibly earning less. For some, the challenge extends beyond personal finances, as they also carry the weight of family obligations without the support of a spouse to share the load.
As the only unmarried child in her family, Miss Chia shoulders the primary responsibility of caring for her ageing parents, while her married siblings juggle the demands of their own families. “I’ve always been independent, but sometimes I wonder how different things would be if I had a partner to share the emotional, financial and logistical demands of caregiving,” she confessed. “It’s not something I regret, but it’s a reality I have to plan for.”
As women redefine success on their own terms, companies and policies in Singapore are evolving to provide stronger support. Flexible work arrangements are now backed by formal guidelines. Mentorship and professional development programmes are also expanding, offering women greater opportunities for career growth.
In traditionally male-dominated industries such as finance, business and technology, targeted initiatives are empowering women to advance and lead. The Financial Women’s Association of Singapore (FWA) connects female professionals with seasoned mentors to foster leadership development, while the Young Women’s Leadership Connection (YWLC) Mentorship Programme pairs emerging female leaders with established professionals across finance and business for career guidance. In the technology sector, the government’s SG Women in Tech initiative is driving greater female participation and career growth. At ISCA, the Institute advocates for diversity in boards and senior leadership positions and offers a range of support for female accountants through the ISCA EmpowHer initiative. Additionally, the Institute brings women together with “Women Connect” – a networking event dedicated to female Chartered Accountants to share experiences of their diverse roles.
“Women are no longer waiting for marriage to define their lives,” said Miss Chia. “We are taking charge of our futures, and society is recognising that.”
While singlehood comes with its own complexities, for many women, the rewards outweigh the challenges. “At the end of the day, being single isn’t about rejecting love or family. It’s about embracing the life you want, on your own terms,” she summarised. “And if that means waking up every day with a sense of peace, knowing I’m exactly where I’m meant to be, then that, to me, is happiness.”
© 2024 Institute of Singapore Chartered Accountants
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