Poll

Have you started your 'golden' retirement planning?

Not bothered!
Planning to...
Have not
Already done it

Author Topic: Retirement Planning  (Read 12038 times)

Offline venven81

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Retirement Planning
« on: November 16, 2008, 09:14:09 AM »
with the current economic outlook and government's plan to reduce 3% in EPF contribution, what other ways are you looking into investing more money for your retirement?
do you know what is your retirement number?

www.whatsyournumber.com.my (http://www.whatsyournumber.com.my)
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Offline leno

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Re: Retirement Planning
« Reply #1 on: November 16, 2008, 09:38:25 AM »
During current economic with half the world in recession, the best way to invest for our retirement is to maintain our spending on the essential items. This is the worst time to tightened our budget.

Do not commit yourself to unnecessary liabilities like to add up or opened up another ill-afford insurance policy.
Do not tied up your money into some poor return investment linked insurance scam.
As a matter of fact, this is the good time to cancel some of your useless money consuming policy.


 >:D >:D >:D

Offline Baby

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Re: Retirement Planning
« Reply #2 on: November 16, 2008, 10:18:44 AM »
The concept of spending to avoid depression is complex but yet simple.
It works in some countries but not in others.
For this strategies to work, the countries must have to fulfill a certain condition like amount of reserves, liquidity, debt ratio, education levels, and blah ... blah ... blah ...
Malaysia should be one of the countries which must implement this strategy to avoid recession and depression.

The whole concept is when we cannot depend on the external (oversea) demand , it is Vital to maintain our local consumption to protect the well being of everyone.

Imagine there are 3 business in a locality.

Business A hawker stalls
Business B banking sectors
Business C selling car

If workers from banking and car business decide to stop eating breakfast at hawker stalls, the hawkers business will earn less.
Therefore the Hawkers workers will have less money to bank in, decided to postpone buying cars and these will cause the Bank and Car Business to deteriorate. Some of the workers of A, B and C will be lay off, and this will lead to even less business or earning to the remaing Business A, B and C. The workers whom are now unemployed will see their EPF contribution become ZERO onwards, and their future retirement fund shrunk like a dry prune, not to mention that they do not even have any salary to withered the current recession.

Reducing EPF contribution by 3% will have NO significant effect to your EFP retirement fund as I have shown before.

The idea is if you want to save your * then please 'Maintain' your spending on 'Essential' and continue to eat your breakfast at hawker stall !
Seriously.

 :D

Offline venven81

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Re: Retirement Planning
« Reply #3 on: November 17, 2008, 12:51:50 PM »
despite opinions given and views said, where is the vote going?
the purpose of this poll is to attest the survey result compiled from a reputable financial institution in our country. your opinions are very much appreciated but would be greater if you could cast your vote.
cheers.
Prudential for your protection & investment needs

Offline rob2001al2001

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Re: Retirement Planning
« Reply #4 on: November 26, 2008, 11:13:33 PM »
So where do we start?
The insurance lady will want to know our magical number.
The insurance guy will recommend to put into the latest 'pay for 10 years and reap the profits the next 20 years'.
The mutual fund guy will tell you 30% in bonds, 70% in equity...
where do we start?

Offline venven81

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Re: Retirement Planning
« Reply #5 on: November 29, 2008, 07:59:08 AM »
So where do we start?
The insurance lady will want to know our magical number.
The insurance guy will recommend to put into the latest 'pay for 10 years and reap the profits the next 20 years'.
The mutual fund guy will tell you 30% in bonds, 70% in equity...
where do we start?

haha... rob, are you promoting product from Prudential? :D
well, the objective of this thread is to discuss various ways people could use to a better retirement life.
please share what you think we are able to do now to accumulate sufficient fund for golden age  ;)
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Offline danieltkb

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Re: Retirement Planning
« Reply #6 on: November 13, 2009, 02:12:05 AM »
IF U PUT INTO THE LIFE FUND, U END UP BEING POOR, DUE TO NEED A BIG BAG TO BUY A KILO OF RICE.
IF U INVEST INTO MUTUAL FUND, YOUR HEART GOING UP AND DOWN,
AND NEED MORE INSURANCE PROTECTION, INCASE MY GOAL, NEVER REACH,

EPF, never trust , this so call deception pension fund!
4% 5% 6% 7% 8% 10%
why the past 10 yrs div going down the drain! and why the ASN getting better rtd?
with the same fund, putting into a unit trust fund, be bitten easy on rtd!
So, if u can, take all out your $$$ in ac 2, putting some other places.



BAD TIME:

not just during this time, in normal time cycle, what u do in your extra income?
the best solution is to build up a biz plan, with a pool of friends or relatives, whom share the same goal.
do u know that , if u are working or employ, u are working or doing the job, being paid mthly, and your boss, walking happyly into the bank!

Offline rob2001al2001

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Re: Retirement Planning
« Reply #7 on: July 16, 2010, 12:01:53 PM »
Hello people,
It has been a long while since i last visited.
I am 42 now, for retirement planning, i had invested in some properties (4) for rental income.
Not very much, just about 5k/ mth.

Also invested in GIP by AIA. Will reap the profits when i am age 60.
Put in 120k over 10 years, and reap 208k after another 10 yrs. (any commments about this product from AIA?)

Planning to have 600k by age 55, put in bonds and yield 5% annual rtn, that gives me about 30k/yr or rm2500/mth.

apart from these my epf, thats continuing to give me 5% rtn.
and a little bit of UT.

At retirement, rm8-10k, will do... for a middle income household.

Offline umeshmalani

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Re: Retirement Planning
« Reply #8 on: September 10, 2010, 02:35:48 PM »
Well rob2001,

there are many other companies in town that offer the same product as AIA. you must take into account of the financial status of AIA in the world. They are going down rather then coming up. They are currently in the midst of selling the insurance business in asia. Would you really wana invest in a comp of tht such.

Offline venven81

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Re: Retirement Planning
« Reply #9 on: September 14, 2010, 09:27:36 AM »
Well rob2001,

there are many other companies in town that offer the same product as AIA. you must take into account of the financial status of AIA in the world. They are going down rather then coming up. They are currently in the midst of selling the insurance business in asia. Would you really wana invest in a comp of tht such.


The takeover deal with AIA was almost complete but didn't actually materialise at the end. To be fair, AIA could be bought over by another company but it doesn't necessarily mean that policyholders will suffer loss. It is a must that all insurance companies in Malaysia will need to abide to the stringent policies set out by Bank Negara that is here to protect the policyholders. I'm sure whatever happens to the company, policyholders will still be protected.

Of course having said that it will always be wise to look around for an established company that is financially strong before we part our hard earned money to the company for investment.
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Offline umeshmalani

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Re: Retirement Planning
« Reply #10 on: September 24, 2010, 04:18:32 PM »
well i have to agree with you rob that the policy holders must be protected but look at thier situation nw(aia)

Offline yanerfei

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Re: Retirement Planning
« Reply #11 on: May 29, 2011, 10:49:38 AM »
 :( :( :( :( :( :(