Where Are We at the Age of 64?
today's NST reported that according to S. Thechinamoorthy, a financial planner from monetmatters corp sdn bhd, in 2026, the rm1.4M is equal to rm639K today. a 35-year-old should have a sum of 1.5M at his 55 to ensure he can continue living comfortably. while according to u chen hock of hsbc, a 35-year-olgd today with rm4K earning per month will have rm500K in his EPF upon retirement, which he need a million more to support his life later!
like it or not, we still have another 2oyears plus to live after retirement (according to latest statistic). thus, we have to consider not only the day to day activities after retirement, but also the vital thing is health issues. as we grow old, our bodies become more porous and more absorbent to disease. as this happen that time, treatment at hospital can be very expensive. furthermore, that time we are not going to have a 'one month high fever then recover' but our disease might be continuous and need as frequent as monthly basis of medication.
according to financial planners, to face this, we have to save as early as today. we might start at a small amount but after 25 years, the accumulation would make us surprise. however, in this world with increasing inflation rate, we should be wise to park our money so that it would grow according to inflation.
the suggested way is to save in equity fund, fund that invested into equity market. and if we are smart enough, real property is a good investment for the old days. however, nothing is easy to have easier life. everything must be followed by discipline and target of how we are gonna live after retirement.
nowadays life is no more enjoyable unless if your salary is rm100K per month. according to the oldschool parents, they would put their hope on their kids to take care of them later. but now this is no more reliable since those kids also have to run in their rat race. now we have to live frugally with enough saving to protect us later.
like it or not, we still have another 2oyears plus to live after retirement (according to latest statistic). thus, we have to consider not only the day to day activities after retirement, but also the vital thing is health issues. as we grow old, our bodies become more porous and more absorbent to disease. as this happen that time, treatment at hospital can be very expensive. furthermore, that time we are not going to have a 'one month high fever then recover' but our disease might be continuous and need as frequent as monthly basis of medication.
according to financial planners, to face this, we have to save as early as today. we might start at a small amount but after 25 years, the accumulation would make us surprise. however, in this world with increasing inflation rate, we should be wise to park our money so that it would grow according to inflation.
the suggested way is to save in equity fund, fund that invested into equity market. and if we are smart enough, real property is a good investment for the old days. however, nothing is easy to have easier life. everything must be followed by discipline and target of how we are gonna live after retirement.
nowadays life is no more enjoyable unless if your salary is rm100K per month. according to the oldschool parents, they would put their hope on their kids to take care of them later. but now this is no more reliable since those kids also have to run in their rat race. now we have to live frugally with enough saving to protect us later.
