Retirement is still a good 20 to 25 years off but fashion entrepreneur Junie Yeo is already making plans.

The 36-year-old founder of cheongsam label Lark and Peony is well aware of the daunting task in front of her, what with the rising cost of living and healthcare.

Ms Yeo told The Sunday Times that she and her husband plan to downsize to a small apartment on retirement or even just stash everything in a storage facility and go travelling.

"By then I am hoping to squeeze my life into one suitcase and live from city to city. My hubby and I would rent out our apartments, which we hopefully would have fully paid off by then," she adds.

Her best investment is her business, which she set up while living in Tokyo when her husband was posted there for work in 2012. It began as a hobby when she saw a window of opportunity in producing handmade yet affordable cheongsams.

"I started out with $5,000. It was a tiny operation with just my mum helping me in Singapore while I sourced for raw materials while living in Tokyo. Because of the small initial capital and low overheads, we broke even in a few months," says Ms Yeo.

She returned to Singapore in 2015.

Her cheongsams are sold online and through trunk shows held at her home. Only up to 30 pieces of each design are produced.

From a company of two, Ms Yeo's firm now employs 12 and revenue has been growing every year with turnover now a six-figure sum.

Her mother, Madam Janet Yeo, 70, continues to help manage the business. In fact, it was Madam Yeo who inspired her daughter to be her own boss.

"We were poor when we were growing up but my mum, who is my ultimate idol, made sure she pushed through tough times. And when she had the chance, she started her own business dealing with walkie talkies," says Ms Yeo. Her father had left the family when she was five and her brother was 11.

Ms Yeo's first taste of running a business occurred when she was 19 and in her final year at Ngee Ann Polytechnic pursuing a diploma in mass communications. She opened two stores in Far East Plaza selling clothes and ethnic wear. They were later sold to finance her arts degree at the Royal Melbourne Institute of Technology.

Ms Yeo's brother was also bitten by the entrepreneurial bug and he runs his own business dealing with high-end bespoke bicycles.

She is married to Mr Billy P'ng, 35, a director at Barclays. They have no children but a 12-year-old Maltese shih tzu named Toby.

Q Besides Lark and Peony, what other businesses do you have?

A We are in the midst of starting a travel and leisure label called Asanoha-Ya, which will target a global audience.

This label will carry a line of relaxed attire like shift dresses in bold bright prints and maxi dresses... These are the items we can wear when we go travelling which would not crease so easily, and would provide a nice alternative to the T-shirts and jeans that most people wear during their holidays.

Q Besides your businesses, what else is in your investment portfolio?

A My hubby and I have two properties. In 2012, we bought a 999-year leasehold 1,800 sq ft unit for just over $1.5 million in Bendemeer.

This year, we bought a freehold 1,400 sq ft three-bedroom apartment within a five-minute walk from East Coast Park and next to a future MRT line for $2.5 million in Amber Road. We will be collecting the keys and will rent it out soon. The price of this unit has appreciated, especially after Amber Park in Katong was sold in a collective sale exercise recently. Both of our properties have mortgages.

I also have a 20-year endowment insurance savings plan, which is a good form of forced savings. And I ensure that I contribute to my Medisave account.

My husband has purchased some US equity in Tesla and Nvidia Corporation as we believe that green energy, electric cars and artificial intelligence are important cornerstones for the future. These investments are on a long-term horizon and we do not actively monitor its performance. We plan to gradually allocate a modest percentage of our savings into this sector on a quarterly basis.

Q What are your immediate investment plans?

A In addition to my husband's plans to allocate some savings to tech stocks on an ongoing basis, I'm just starting to save once more after paying for the recent property acquisition. I think it is important to save up in case golden investment opportunities come along.

Q How did you get interested in investing?

A I am not an active investor. I wouldn't take the time to research companies because my husband manages that side of it. He's a finance guy and I'm more interested in developing my business.

However, I think it is important to spot trends and get involved somehow. If I notice a particular product or service which is really changing the way we live and having a big positive impact that we think is scalable and fast growing, I would discuss it with my husband and we would do some legwork to see if we should get involved.

Q How are you planning for retirement?

A I'm just starting to plan for retirement and it's quite a daunting task considering inflation and the cost of healthcare in future.

My strategy (which may sound silly) would be eating healthy and keeping myself in as good a shape as possible so that healthcare wouldn't be as much of a drain in future. I haven't engaged professional help but I would be open to someone coming in and reviewing plans that I've set in place to see how viable my goals are and if I need to be setting aside more now in order to retire comfortably.

Q What are your top retirement priorities and challenges?

A It's hard to say as that is probably around 20 to 25 years away. I think the big question is really if property rental yields will remain robust and if it affords us the kind of freedom and lifestyle that we need.

We are not lavish folk and certainly do not spend on unnecessary items but experience is important. Thus retirement has to start earlier when we are still physically capable of travelling extensively, and being healthy in mind and body to experience all that this wonderful world has to offer. There is also the other argument that to remain sane we all need to keep doing something meaningful and generate value for others, thus full retirement may not be as appealing as one might think.

Q How much legacy planning (will, trusts, Lasting Power of Attorney, and CPF nomination) have you done?

A None, but we plan to.

Q My home is now...

A A 1,800 sq ft, three-bedroom apartment in Bendemeer, where I live with my hubby, mum and my dog Toby.

Q I drive ...

A A white convertible BMW 325i. It's old but it's the best ride for Toby, who loves the wind in his face from all directions.

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This is the final part of a four-part Me & My Money: Life Goals series, which highlights the financial goals of fashion entrepreneur Junie Yeo.