Author Topic: Worrying On Retirement? You Should!  (Read 23773 times)

Offline Oly Shyte

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Worrying On Retirement? You Should!
« on: January 28, 2015, 08:57:37 AM »


PETALING JAYA: The long-term impact of the global economic downturn will be felt for many decades to come, according to HSBC’s survey of 16,000 people worldwide.

A financial report by HSBC titled, The Future of Retirement, A Balancing Act on Tuesday said that 40% of them stopped or reduced their retirement savings during the downturn whether through investments (25%), cash deposits (24%) annuities (21%) or employer or personal pension schemes (19% respectively).

“Despite encouraging signs of economic recovery, the longer-term impact will cause waves for millions of people who have weathered the storm by raiding their retirement funds and amassing debt.

“This means that millions of people could enter retirement with savings diminished by a quarter or more after getting into debt or severe financial difficulty,” it said.

The report said that Malaysians were the highest in Asia (28%) to say that ability to save for retirement was impacted by debt compared to Singaporeans at 19% followed by Indonesians (24%).

“And despite signs that the global economy picked up in 2014, 32% of Malaysians feel that the recession and current economic downturn continue to blight their abilities to save for their retirement.” 

The report also said though 23% of the people around the world felt that their living standards would drop after retirement.

However, Malaysians were positive, with 58% expecting better living standards after retirement.

The report also said that two thirds (66%) of pre-retirees worldwide were concerned about not having enough money to live on day-to-day in retirement, rising to 88% in Malaysia.

“In Malaysia, women believe their retirement savings and investments will last for 11 years, but with an average retirement period of 21 years, this leaves 10 years when women will be reliant solely on any pension provision.

“Men will have enough savings for 12 years of retirement, but with a shorter average retirement period of 17 years, they will have lesser years relying solely on any pension provision,” according to the report.

It was found that 21% of Malaysian retirees felt they needed to start planning for retirement at the age of 30 or younger to maintain their lifestyle, while 5% go so far as to predict that they would never be able to fully retire from paid employment.

"With the benefit of hindsight, many retirees would have done things differently before they retired, to improve their standard of living in retirement. For example, more than two in five (45%) retirees say they would have saved more, and over half (53%) would have started saving at an earlier age," the report added.

 8)
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Online king

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Re: Worrying On Retirement? You Should!
« Reply #1 on: January 28, 2015, 08:59:14 AM »


                                     :sweat: :sweat: :sweat:

Offline KLSE LOSSER

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Re: Worrying On Retirement? You Should!
« Reply #2 on: January 28, 2015, 09:30:05 AM »
 :'( :'( :'(

Online king

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Re: Worrying On Retirement? You Should!
« Reply #3 on: January 28, 2015, 09:35:05 AM »


I HAVE RETIRED BUT I STILL WORRY FOR THE YOUNGER GENERATION.

Offline boyish - boyboy

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Re: Worrying On Retirement? You Should!
« Reply #4 on: January 28, 2015, 09:36:06 AM »
Not to worry Bantuan Rakyat 1 Malaysia ....

Brim1

 :D :D :D :P :P :P
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Offline boyish - boyboy

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Re: Worrying On Retirement? You Should!
« Reply #5 on: January 28, 2015, 09:36:29 AM »

Brim1

 :P :P :P :D :D :D
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Offline boyish - boyboy

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Re: Worrying On Retirement? You Should!
« Reply #6 on: January 28, 2015, 09:37:17 AM »

Single parent got Brim1 and also can get kebajikan also....not to worry about retirement....

worry about now lah

 :D :D :D :P :P :P
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Offline boyish - boyboy

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Re: Worrying On Retirement? You Should!
« Reply #7 on: January 28, 2015, 09:39:59 AM »
You worry to much KING

Boy worry what to eat in this lunch only but you already worry about generation.....

 :D :D :D


I HAVE RETIRED BUT I STILL WORRY FOR THE YOUNGER GENERATION.
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Online Ļaughing Ģor

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Re: Worrying On Retirement? You Should!
« Reply #8 on: January 28, 2015, 04:44:31 PM »
I am also worried about not enough money for retirement.
Better start going to the gym, just in case I need to drive tax at 63 or go to bangla and work as construction worker at 70
Can someone to give me a Loan and then leave me Alone?

Online king

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Re: Worrying On Retirement? You Should!
« Reply #9 on: January 28, 2015, 05:14:13 PM »
I am also worried about not enough money for retirement.
Better start going to the gym, just in case I need to drive tax at 63 or go to bangla and work as construction worker at 70

JOKE OF T CENTURY ??

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Re: Worrying On Retirement? You Should!
« Reply #10 on: January 28, 2015, 05:15:19 PM »
JOKE OF T CENTURY ??

WORRY OF T YEAR.
Can someone to give me a Loan and then leave me Alone?

Online king

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Re: Worrying On Retirement? You Should!
« Reply #11 on: January 28, 2015, 05:18:27 PM »
WORRY OF T YEAR.

JUST YELL,  BULL,   BULL,   BULL............................

1 YR ODY OVER

SIMPLE ISNT IT ??

Offline KLSE LOSSER

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Re: Worrying On Retirement? You Should!
« Reply #12 on: January 28, 2015, 05:36:15 PM »
Lg oso needs to worry abt retirement? Amazing...

Offline kittima

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Re: Worrying On Retirement? You Should!
« Reply #13 on: January 28, 2015, 05:40:57 PM »
George Soros also retired at age of 84, why worried, we work until 75 lo..........  :D

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Re: Worrying On Retirement? You Should!
« Reply #14 on: January 28, 2015, 05:46:15 PM »
George Soros also retired at age of 84, why worried, we work until 75 lo..........  :D

Why not make 10 babies? If one of them become a billionaire and you will have hit the jackpot.
10 children share share you no need to work already.
Can someone to give me a Loan and then leave me Alone?

Offline kittima

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Re: Worrying On Retirement? You Should!
« Reply #15 on: January 28, 2015, 05:52:37 PM »
Why not make 10 babies? If one of them become a billionaire and you will have hit the jackpot.
10 children share share you no need to work already.

I better go find a billionaire uncle that don't have kids and become his adopted son  :D

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Re: Worrying On Retirement? You Should!
« Reply #16 on: January 28, 2015, 05:58:56 PM »
I better go find a billionaire uncle that don't have kids and become his adopted son  :D

If you can find one, let me be your adopted brother ok.
Can someone to give me a Loan and then leave me Alone?

Online king

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Re: Worrying On Retirement? You Should!
« Reply #17 on: January 28, 2015, 06:01:07 PM »
Lg oso needs to worry abt retirement? Amazing...

NOT AMAZING.
BUT
AMUSING
 :D :D :D :D :D

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Re: Worrying On Retirement? You Should!
« Reply #18 on: January 28, 2015, 06:58:32 PM »

Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #19 on: January 28, 2015, 07:25:05 PM »
I am also worried about not enough money for retirement.
Better start going to the gym,

Err.. LG???  :shake: :sweat:
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Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #20 on: January 28, 2015, 07:32:04 PM »
  :sweat:

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Offline iiinvestsmart

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Re: Worrying On Retirement? You Should! LG's buy and hold strategy
« Reply #21 on: January 28, 2015, 08:30:16 PM »
Why not make 10 babies? If one of them become a billionaire and you will have hit the jackpot.
10 children share share you no need to work already.


Exactly so.

Buy 10 stocks. 

2 may be  multi-baggers.
6 may perform to your anticipated target
2 may not be performers.

But with 10 of them for you to share (diversify), you will be fine. 


So, you are a believer in buy and hold after all.
Just the market volatility frightened you into going into 100% on a few occasions each year.   :)
It’s better to buy a wonderful company at fair price than a fair company at wonderful price.

1.  Understand the business
2.  Business must have DCA
3.  Management with integrity
4.  Buy at a sensible price

Big Fat Pitch.  Focus Investing.  Long term portfolio for capital appreciation and income.

Offline ikan besar

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Re: Worrying On Retirement? You Should!
« Reply #22 on: January 28, 2015, 08:42:44 PM »
what is that to worry

u came here with nothing (naked)

u go back also nothing

what is the worst when u retired with no $$$$$$$

mati saja lor

u manyak kaya also kena pegi what
so u very miskin also sama itu olang kaya saja
no problem lah
let the Tien  (sky) decide
I heard dr kimmy lost alot of monies

Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #23 on: January 29, 2015, 09:42:03 AM »
Debt repayments have been indentified as one of the key factors curbing Malaysians from saving for retirement, according to HSBC Bank Malaysia Bhd.

Head of retail banking and wealth management Lim Eng Seong said Malaysians topped the list (28%) among other Asian countries to reiterate that their ability to save for retirement were impacted by debt, followed by Indonesia (24%) and Singapore (19%).

“HSBC’s global survey of 16,000 people in 15 countries showed that 36% of Malaysians hadstopped or reduced their retirement savings during the global economic slowdown.

“Our study also shows that 88% are concerned about having enough money to live on day-to-day in retirement,” he told a media briefing on retirement trends in Malaysia yesterday.

Lim said among the reasons quoted in the survey, include 25% stating that their preparations were inadequate for a comfortable retirement, while there was a concern from retirees (29%) saying that their preparations were insufficient.

“The reasons why the working society are not planning adequately for a comfortable retirement are due to affordability, other immediate financial commitments, inability to start saving early and unaware of how much to save,” he added.

He said the bank was also surprised when over a quarter or 27% of pre-retirees were not saving or did not intend to start saving for retirement.

“It is even more worrying that 20% of those nearing retirement (aged 45 and over) are not saving or do not intend to save for retirement,” he stressed, adding that many have cut down savings through cash deposits, annuities or investments.

Meanwhile, Lim said although Malaysia was far more a better place compared with other regions, as it had the Employees Provident Fund (EPF) as a retirement fund to fall back on, it was pertinent for the society to understand the economics behind retirement.

“Major life events have affected the majority (85%) of pre-retirees’ retirement savings. Although some of life’s events can be planned such as buying a house or paying a mortgage, people should expect the unexpected in all circumstances,” he said, adding that about 30% of Malaysians have stated that children’s education funds was also a contributing factor which reduced their savings.

Lim said although the global economy picked up in 2014, 32% of Malaysians felt that the recession and current economic downturn continued to hamper their ability to save for retirement.

“There is no quick-fix solution, but workers have to focus on finding the means to save a little, starting from now. With the rising cost of living and stretched budgets, even the smallest amounts can help reduce the long-term effects of these challenging times and make the likelihood of a comfortable retirement all the more real,” he said, adding that it was advisable to look for ways to replenish any depleted funds in one’s retirement pot.

Additionally, Lim said the society should think of the kind of lifestyle they wanted when they retire and start working backwards to achieve their targets.

“While the future is not in our hands and unforeseen life events can take a toll on one’s retirement savings, it is important to get proper guidance from financial institutions on how to manage savings efficiently,” he said, adding that the bank had the ability to customise products according to one’s needs and requirements.


The saviour of all debts?  :shake:
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Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #24 on: January 29, 2015, 09:44:29 AM »


The saviour of all debts?  :D
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Online king

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Re: Worrying On Retirement? You Should!
« Reply #25 on: January 29, 2015, 09:53:10 AM »


The saviour of all debts?  :D

X AH LONG

Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #26 on: March 02, 2015, 07:17:01 PM »
RETIREMENT – that time of our lives when we can finally stop working, kick back and relax.

Unfortunately for many, the “golden years” don’t actually turn out to be quite what we all hope and expect – as a lot of us take it for granted that we can actually stop working once we hit retirement.

The following are some mistakes we make leading up to our retirement – and what to do to avoid them.

No proper planning

Unfortunately, many fail to have a retirement plan. According to the Employees Provident Fund (EPF) 2013 Annual Report, about 70,000 of its active members (at 54 years old) have an average savings of RM167,000.

EPF statistics state that 68% of members – at age 54 – have savings of less than RM50,000. The basic savings quantum that EPF recommends for members at 55 years is RM196,800.

Licensed financial adviser and syariah financial advisory for Excellentte Consultancy Jeremy Tan advises individuals to start planning for retirement early.

“Start saving and investing when you are young, when time is on your side, and you can leverage on the effects of compounding interests.

“Don’t just rely on your monies. It is not sufficient and based on findings and survey, most EPF contributors would have exhausted their savings in three years,” he says.

Tan says it’s best to have a plan or investment portfolio for your retirement.

“Set aside, other than the mandatory EPF contribution, a sum of money for investment. Build a portfolio of different asset classes, taking into consideration the sum needed for the lifestyle required during your retirement years.

“Ensure that the passive income to be generated from this investment portfolio is able to extend beyond your lifespan.”

Underestimating the value of money

A common mistake among many people is the assumption that the value of money remains the same, says Success Concepts chief executive officer and licensed financial planner Joyce Chuah.

“We often plan in today’s monetary values. For instance, a desired retirement income of RM5,000 today does not have the same purchasing power in the next ten years when we finally retire.

“Hence, when planning, take into account the desired income in today’s ringgit and inflate it by your annual personal inflation rate until the time you plan to retire. So if you think RM5,000 is sufficient today and plan to retire in 10 years’ time, you must not plan for RM5,000 – but instead plan for RM9,000 with the assumption of a 6% personal inflation rate,” she says.

 8)
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Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #27 on: March 02, 2015, 07:19:43 PM »
Chuah notes that inflationary pressures on our purchasing power do not disappear simply because we are retired.

“One needs to ensure that one’s nest egg lasts way beyond one’s retirement (preferably until age 100) and that it takes into account inflated expenses, albeit at a lesser rate as we age and wind down our activities.

“Decide on your personal inflation rate – perhaps a minimum of 6% is a good start, a rate in line with the 6% goods and services tax rate, which affects most goods and services we consume daily.”

Not having a good medical plan

Many sometimes fail to realise that as we age, the medical bills tend to pile up also, notes Tan.

“Take up a good medical insurance plan while you are still young. Most individuals make the mistake of not having a medical insurance plan when they are working, especially employees as they do not see the need as they are currently covered by the employers’ insurance scheme.

“The assumption is that they will be forever employed. However, in later years when they retire, their health status may not warrant coverage when they most need it.”

Tan adds that insurance cost also increases with age for medical insurance coverage.

“Certain ailments that surface during later years may warrant an exclusion or total rejection by the insurer for coverage.”

Admittedly, many people assume that they will always remain healthy.

“No one stays healthy all the time. If we are lucky, the visit to the doctors and hospitals will be minimal. Surely, should the unfortunate happen, we don’t want to dig into our nest egg which we have built all the years, only to lose it due to unexpected healthcare issues.

“Even if it does not happen to you, what if you have to fund the cost of healthcare for a loved one such as your spouse, parents or in-laws? Unless you are a pensioner, sufficient healthcare and medical coverage should never ever be negotiable.”

Not taking enough risks or none at all

According to Chuah, the notion that our retirement money must be placed in a safe place is a myth.

“Unless you have accumulated enough to retire today or you plan to retire within the next three years, it would be a mistake take a conservative stance on your funds.

“Even with some attractive fixed deposit (FD) rates at 4% per annum being offered by some banks, it still takes 18 years to double your money.”

She adds that even if a person has sufficient retirement nest egg or have little time left before retirement, he or she can’t afford to take no risks.

“A segment of your portfolio can be placed in income-generating investments that provide regular dividends or coupons which are superior to FD interests.

“With higher income generation, the rate of withdrawing from your retirement capital becomes lesser and your nest eggs certainly will last longer.”

Chuah advises that one needs to learn to accept risk as part of growth.

 8)
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Online king

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Re: Worrying On Retirement? You Should!
« Reply #28 on: March 02, 2015, 07:54:50 PM »

退休退休,
退而不休?

Online Ļaughing Ģor

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Re: Worrying On Retirement? You Should!
« Reply #29 on: March 02, 2015, 08:11:26 PM »

“A segment of your portfolio can be placed in income-generating investments that provide regular dividends or coupons which are superior to FD interests.


This is the statement that kills a lot of people
Can someone to give me a Loan and then leave me Alone?

Offline kittima

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Re: Worrying On Retirement? You Should!
« Reply #30 on: March 03, 2015, 12:03:45 AM »
If EPF can generate 6.75% dividend consistently, I think I may able to retire with the EPF dividend withouth touching the EPF principle amount.

For eg, if one use FD rate of 3.++%, he may need at least 1million to generate income of average 3k for their retirement, but if EPF give 6.75% dividend consistently, one may need slightly less than 500k in their EPF principle to generate 3k monthly, so the goal to achieve 500k in EPF with working until 60 years old is it impossible?

Offline KLSE LOSSER

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Re: Worrying On Retirement? You Should!
« Reply #31 on: March 03, 2015, 10:31:31 PM »
If EPF can generate 6.75% dividend consistently, I think I may able to retire with the EPF dividend withouth touching the EPF principle amount.

For eg, if one use FD rate of 3.++%, he may need at least 1million to generate income of average 3k for their retirement, but if EPF give 6.75% dividend consistently, one may need slightly less than 500k in their EPF principle to generate 3k monthly, so the goal to achieve 500k in EPF with working until 60 years old is it impossible?
rm3000 per month enough to survive in this high inflated world?

Offline ikan besar

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Re: Worrying On Retirement? You Should!
« Reply #32 on: March 03, 2015, 10:37:23 PM »
If EPF can generate 6.75% dividend consistently, I think I may able to retire with the EPF dividend withouth touching the EPF principle amount.

For eg, if one use FD rate of 3.++%, he may need at least 1million to generate income of average 3k for their retirement, but if EPF give 6.75% dividend consistently, one may need slightly less than 500k in their EPF principle to generate 3k monthly, so the goal to achieve 500k in EPF with working until 60 years old is it impossible?

arm with rm3000 from EPF is jes gam gam enaf, so u need to earn xtra like

go collect boxes , tin kosong , plastic bottle , odd job , part time actor as Care Ler fare ,
help clean up those places after party , big occasion or marathon run ,  work as a singer at the karaoke
1 song they paid you rm5.00  (must be able to sing quite well , a little bit like elvis)

see so many way of earning side income if u want
I heard dr kimmy lost alot of monies

Online king

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Re: Worrying On Retirement? You Should!
« Reply #33 on: March 04, 2015, 06:12:15 AM »

KLSE was t place where I accumulated my nest egg.

Online king

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Re: Worrying On Retirement? You Should!
« Reply #34 on: March 04, 2015, 06:15:22 AM »
KLSE was t place where I accumulated my nest egg.

If a mediocre like me can do it,  I believe most of u can do better.

Cheers for retirement.

Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #35 on: March 13, 2015, 07:39:53 AM »
No easy money. If you get it easy, you'll lose easier. If you get it by the hard way, you'll last longer....  ;)
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Offline Oly Shyte

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Keeping aside some money for your retirement
« Reply #36 on: April 13, 2015, 08:35:44 AM »
PETALING JAYA: Your ringgit has shrunk. To make matters worse, the onset of the GST has given the RM1,500 in your pockets effectively much less purchasing power.

So, what do you do? Start saving from the get-go.

It’s not about the amount. It’s about the attitude, say financial experts.

Personal financial management coach Yap Ming Hui said saving should be made a habit for financial freedom after retirement, adding that even a monthly saving of RM10 could make a difference.

“Be a saver, not a spender. With the right attitude, saving will come naturally when your income increases, as you get older. It’s psychological,” he added.

Yap said those who did not save would struggle even if they had an annual income of RM500,000.

“A corporate guy told me he did not have savings despite earning so much. Why? Because he is a spender.

“Spenders increase their ex­­penditure when their income goes up,” he said, recommending that workers save at least 19% of their monthly salary in addition to what was remitted into the Employees Provident Fund (EPF).

Yap was commenting on the findings of two recent studies – the Randstad Workmonitor Q1 2015 and HSBC’s Future of Retirement, A Balancing Act global surveys.

Randstad found that 76% of Malaysian employees believed that they would have to work past the age of 60.

HSBC’s Asia survey found that Malaysians’ ability to save for retirement was impacted by debt.

Universiti Malaya’s Social Secu­rity Research Centre director Prof Datuk Dr Norma Mansor said Malaysians should be more financially literate and capable.

“The fear of not having enough for retirement is a good thing because it encourages sound financial planning,” she said.

However, Prof Norma, the former secretary-general of the National Economic Advisory Council, said decent wages were also crucial to encourage saving.

“Some graduates only earn RM1,000. How much can they save?”



The Government, she said, should look into policies for vulnerable groups like the self-employed and unemployed, adding that healthcare was the biggest concern as medical cost formed the bulk of retirement spending.

“People will feel more secure if they don’t have to worry about this,” she said.

Malaysian Employers Fede­ration executive director Datuk Shamsuddin Bardan said a growing number of employees were taking on part-time jobs due to high household debt and commitments while senior citizens were getting back into the workforce because they had bills to pay.

He said retirement funds were usually inadequate, as life expectancy had increased to 72.5 for men and 77.2 for women.

Some still had mortgages and credit card debts to settle even after retirement, he said, noting that about 376,800 employees were aged between 60 and 64 and the ratio of household debt-to-GDP had risen to 86.8%.

“Most EPF members have less than RM50,000 at age 55 due to the many withdrawal schemes allowed,” Shamsuddin said.

“In the private sector, EPF is the most common form of retirement savings and as such, withdrawals before the age of 60 should not be allowed.

“Assuming each individual needs RM800 monthly, which is almost poverty line income upon retirement, RM50,000 can only last for five years,” he said, urging the Government to provide tax incentives for workers over 60.

“If they can contribute to the economy beyond retirement, they should be allowed to enjoy the full yields of their labour.

“Bosses, too, should be given a double tax deduction to encourage the hiring of seniors.”

National Council of Senior Citizens Organisations Malaysia president Datuk Dr Soon Ting Kueh said most people had to continue working past 60 “unless they are very fortunate”.

He said without adequate savings, those without EPF or pension would suffer.

Those with a monthly pension of above RM1,000 “might survive”, but the majority who get less had to return to work.
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Online king

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Re: Worrying On Retirement? You Should!
« Reply #37 on: April 13, 2015, 08:54:09 AM »


WHAT IS UR ATTITUDE TOWARDS MONEY ?

Offline ikan besar

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Re: Worrying On Retirement? You Should!
« Reply #38 on: April 13, 2015, 08:57:41 AM »

WHAT IS UR ATTITUDE TOWARDS MONEY ?

no worry , no worry

bolehland got a lot of river, mountain, rainforest

if u wan to makan ikan jes go fishing, u need vege jes go into the forest,
u wan water , jes collect rain water

no problem, no problem

now all u have to do is to go and check out where got the best
fishes and vege, start planning your water collection in a big way.

if u have any xtra can sell your stuffs to others

 :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap:
I heard dr kimmy lost alot of monies

Offline ahbah

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Re: Worrying On Retirement? You Should!
« Reply #39 on: April 13, 2015, 09:02:28 AM »
the ratio of household debt-to-GDP had risen to 86.8%.

I am a part of the % above lah.

Offline ahbah

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Re: Worrying On Retirement? You Should!
« Reply #40 on: April 13, 2015, 09:04:26 AM »

WHAT IS UR ATTITUDE TOWARDS MONEY ?

Moni is our boss who ask us to do all sort of things !

Online king

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Re: Worrying On Retirement? You Should!
« Reply #41 on: April 13, 2015, 09:09:30 AM »
the ratio of household debt-to-GDP had risen to 86.8%.

I am a part of the % above lah.

I DUN BELIEVE.

AHBAH IS VERY CASH RICH INDEED.

Offline ikan besar

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Re: No Worrying On Retirement? You Should be very very happy indeed
« Reply #42 on: April 18, 2015, 06:41:56 PM »
since everybody is worry abt retirement

let us form a "Happy Retirement club"

here everybody will look after everybody
we buy a piece of land
plant our own vege
rear our own stock  (chicken &  ..... nyiok nyiok)
dig our own water well
make our own solar system
create our own rain havest system
built our own dream land
plant our own big tree
create our own garden
make our own pond with plenty of fishes inside
(either for makan or for fun)
make our own swimming pool
level our own golf club
make our own ping pong table
fix our own pipe line
installed our own astro programme , start with LG doing the talk show
follow by Dr Kimmy "kong siew wah , happy hour"

see , afterall retirement is not that scarry , if everybody have the
same mentallity

$$$$$$$$$$$$  is no more a issued if this come true

 :) :) :) :) :) :) :) :) :) :) :) :) :) :) :) :) :)
I heard dr kimmy lost alot of monies

Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #43 on: April 20, 2015, 10:46:13 AM »
KUALA LUMPUR: Whilst most people recognise the need to plan for their retirement, recent surveys showed that only about 20% think they have planned and adequately saved for their retirement, with the remaining 80% not ready to replace their earned income when retirement comes along. 

The need to plan and save for retirement is not in question but the lack of action taken to address the gaps in providing for their retirement is the key issue.

The most frequently cited excuses are “it’s still a long way before I retire”, “I’ll do it ‘tomorrow’” and “I don’t know how”. Whilst these seem to be convenient excuses, most agree that the lack of knowing what to do and how to do it, are perhaps the fundamental causes for not taking action.

Deciding to start up your PRS account is the first step to making it happen but you will need to commit yourself to making the required long-term PRS contributions to achieve your desired retirement nest egg. The next step then is to make your PRS contributions a “regular unconscious habit” to build up your retirement funds over your accumulation years into your PRS account. Last but not least is the need to monitor the progress of your PRS account, taking note of your contributions and the performance of your PRS funds annually.

PPA has formulated a simple process to provide the framework and structure to provide the knowledge on how to start and manage your PRS account. Going through the “Save. Invest. Retire. Enjoy” or “S.I.R.E” process will assist members of the public to make conscious decisions on how to start and manage their PRS accounts. Achieving your desired retirement goals does not just happen. It takes proper planning and commitment to make it happen.

Save: Accumulating funds for retirement needs to be a disciplined and regular activity to achieve the desired retirement nest egg. Smart retirement planning suggests that we set aside additional 10% of our take-home pay for retirement. We also need to be very clear on the purpose, that it is for retirement only and not for other purpose. At PPA, we strongly encourage members to do regular monthly contributions for PRS to make saving affordable and also to inculcate the habit of saving for retirement, whether you are starting young in your 20s or later in your 50s. The longer the time horizon one saves for retirement, the more savings one will attain to replace your income at retirement. Regular contributions will help to “dollar cost average” your savings, a technique designed to reduce market risk through the systematic regular monthly contributions at pre-determined intervals and set amounts.

Invest:  While saving is setting aside money, investing it provides compounding growth. Money that is saved and invested has a potential to enjoy compound growth to ensure that the funds stay ahead of inflation and also be rewarded with an expected return. When investing, people need to ask what their retirement objective is – for pre-retirement accumulation capital growth (during the accumulation phase when we are gainfully employed) or retirement income generation (during the decumulation phase when we retire). In addition, people will need to customize their retirement investment plan according to their age, lifestyle and financial circumstances. Before making an investment decision, you should consider the different type of risks that may affect you and learn to manage risks by way of diversification, managing the performance of your investment and knowing the choices that are available to you.

Retire: Retirement is not a destination but a long journey. During the 30 to 40 years pre-retirement phase, it is a crucial period for a person to accumulate adequate funds for retirement. But it does not stop there. Retirement also means, during the golden years (also known as de-cumulation phase), one is able to manage his or her retirement savings in order to stretch a good 20 years as we live longer due to advancement of medical sciences. The best way to do so is to keep your savings invested and make monthly withdrawal of a set amount that is enough to use as expenditure, as passive income. This is to ensure that your money continues to work hard for you while withdrawing a regular monthly retirement income.

Enjoy: Retirement should be the most exciting phase in our life but it requires one to have the income and financial security to our retirement years a golden one. The end objective of retirement planning is to ensure that we enjoy the golden years with adequate, sufficient and sustainable income for your retirement. For all the accumulating years, which seem to be sacrificing our immediate wants for our future consumption, it is the only sure way to provide enjoyment for our retirement years.

Malaysians can now take control of their retirement by following PPA’s simple formula for a successful retirement – “Save. Invest. Retire. Enjoy” or in short “S.I.R.E”.

Note: Datuk Steve Ong is CEO of the Private Pension Administrator (PPA), the central administrator for the Private Retirement Scheme (PRS). The PPA is tasked by the Securities Commission Malaysia to promote the growth of the PRS industry, create general awareness and educate the public on retirement saving. The PPA also works to protect the interests of PRS contributors.
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Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #44 on: May 21, 2015, 06:52:01 PM »
KUALA LUMPUR: Global and economic trends indicate that the retirement age may need to be revised further upwards again should the trend of an ageing population and longer life span continue.

JP Morgan’s managing director and head of global pension solutions and advisory Anthony S. Gould said the trend of rising dependency would cause a larger number of the aged population to be supported by a decreasing base of the younger population, which is not sustainable economically.

“This simply means that in order to sustain the same level of retirement benefits, governments are going to have to make choices on whether to increase tax rates on the working population or cut government spending to pay those high (retirement) benefits,” Gould said at the International Social Security 2015 plenary session yesterday.

Citing the United States as an example, Gould said this development would have a “meaningful impact” on budgets and government expenditure.

He said this might push governments globally to make a decision to raise the retirement age, given the changing longevity dynamics, even though this might be an unpopular decision.

“In quite a number of countries, there has been a move to increase the retirement age. After all, in many countries the retirement age has been the same in the last 40-50 years despite the fact that on average, we are living significantly longer and more healthily, thanks to better healthcare access,” Gould said.

He added that other ways to possibly deal with this trend was for governments to either reduce retirement pensions or benefits, increase contributions to retirement funds or change the investment strategies of how annuities were allocated.

“My guess is that many countries will have to resort to dealing with this by implementing all of the measures stated, because even one of the measures by itself may not be able to adequately deal with this problem,” he said.

He cited data from the United Nations which showed that while throughout the 20th Century, the number of births had climbed globally every decade, this decade may be the first in 100 years where the number of births globally is no greater than what it was in the last decade.

He added that the average life expectancy in Malaysia and across the Organisation for Economic Co-operation and Development (OECD) countries was 75 to 78 years.

“What is more important is the life expectancy once a person has reached 65. This number is higher and is as high as 85 in OECD countries and continues to rise. More worrying is that in almost every country, the amount of retirement savings is insufficient, given the longer life expectancy,” he said.

 8)
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Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #45 on: July 05, 2015, 01:00:31 PM »
This New Study Suggests You've Been Thinking About Retirement All Wrong



Stay the course, and all will be well. Right?
 As such, we've been taught for decades upon decades that the best course of action for investors is to save as much as they can while working, invest aggressively when they're young, and slowly tone down the aggressiveness as you head into retirement. This common strategy involves Americans taking advantage of their ability to take risks while young, while moving to more of a capital preservation/income strategy during their later years.

Another strategy you've probably heard about is the age-based asset allocation. In other words, if you're 65 years old, 65% of your investments should be in bonds or fixed-income assets. As your age increases, so does your percentage of fixed-income (thus safer) holdings.

But, are these strategies all wet? According to a recent article published in the Journal of Financial Planning by authors W ade Pfau and Michael Kitces, your entire way of thinking about investing for retirement needs to be completely rejiggered.

Is it time to reconfigure your investing strategy in retirement?
 While a quick read of Pfau's and Kitces' work might leave you scratching your head a bit, I can quickly summarize the thesis of their discussion of retirement glide paths, or in layman's terms, what they believe should be the proper allocation of stocks and bonds in Americans' investment portfolios.

The authors studied a number of models, but they focused on a series that suggested an individual would retire and need their money to last for 30 years. These models examined asset allocations including a portfolio that began with 60% of assets in equities just prior to retirement (e.g., stocks) and ended at 30% some 30 years later (essentially a 1% step down each year); a portfolio that began and ended with 60% in equities (i.e., no change over 30 years); and a portfolio that stepped up from an equity allocation of 30% to 60% by the end of the 30 years (a 1% step up per year). Any guesses which model proved the best?

Based on the authors' findings, the step-up method was by far the most successful, reducing a person's chances of running out of money in retirement, and also reducing the magnitude of their failures. In simpler terms, the authors are suggesting an inverted U-shape asset allocation during one's lifetime, whereby young adults begin with a high allocation of equities and a low allocation of bonds and slowly build up the percentage of their portfolio devoted to bonds throughout their lifetime, leading to the point at which they retire. However, during retirement the authors suggest scaling back on bonds and once again building up your exposure to equities (stocks).

What's the rationale? The authors opine that a retirees' cash drawdown, compounded with the rate of inflation, won't allow them to adequately replenish their cash if they're heavily invested in bonds. This is something you've likely dealt with firsthand over the past six years as the federal funds target has been pegged at historic lows, causing CD and bond rates to plunge. However, the authors believe a higher bond allocation just prior to retirement makes sense given that investors need to be conservative with their money right before retirement and shouldn't make wild gambles in the stock market.

On the other hand, the authors suggest that increasing exposure to stocks each year during retirement allows individuals the opportunity to outpace inflation, as well as to let their nest egg replenish itself, potentially even after taking distributions.

Does this thesis make sense?
To some extent I agree with the authors' findings, with one major exception.

I believe the study's findings are extremely pertinent for baby boomers, who were crushed by the Great Recession. Some boomers were far too scared to hang on to their investments through the depths of the downturn and sought shelter in bonds, CDs, or money market accounts. Long story short, many of these boomers never recouped their losses, even when the stock market found its footing again.

Baby boomers, even with their possible distrust of the stock market following 2007-2009, would be the perfect candidates for Pfau's and Kitces' model of increasing their exposure to equities with each passing year. As a whole, I suspect boomers will probably need to be more aggressive with their investments than previous generations to ensure they don't run out of money in retirement. As such, a step up in stock holding during retirement makes sense to me for this crowd.

Additionally, I tend to follow the logic of the authors in that maintaining a strong presence in equities is important during retirement. While there's plenty of room for income investments such as bonds and CDs in your retirement portfolio, they're not always going to give you a chance to outpace inflation.

But one area where I'd respectfully disagree, or should I say remain somewhat skeptical, is the authors' suggestion that pre-retirees boost their bond holdings just before retirement. While this was admittedly the worst recession Americans had seen in seven decades, this is exactly what the baby boomers did right before they retired, and it caused them to miss out on substantial gains when the stock market rebounded. Now, I'm not in any way advocating that this was an issue of "market timing," which simply can't be done with any accuracy over the long run. Instead, I'm suggesting more of a constant equity holding over the extended term to take advantage of the benefits of time and compounding that the market offers.

The stock market has proven time and again to be the best creator of wealth, with an historical return rate of about 8%. That easily trumps the average rate of inflation over the past 100 years of roughly 3.5%. You'll likely struggle to find other investments that so handily trounce inflation, but you'll sometimes need to exert patience to succeed. In short, there will be bumps in the road, but the stay-the-course strategy still seems to hold the most water in my book.


 :sweat:
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Offline ikan besar

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Re: No Worrying On Retirement? You Should be very very happy indeed
« Reply #46 on: July 05, 2015, 01:02:38 PM »
if the 1MDB $$$$$$ is return

nobody should be worry abt retirement

happy retirement

$$$$$$$$$$$$  is enaf for every one


 :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap:
I heard dr kimmy lost alot of monies

Offline zigzag

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Re: No Worrying On Retirement? You Should be very very happy indeed
« Reply #47 on: July 05, 2015, 01:04:20 PM »
if the 1MDB $$$$$$ is return

nobody should be worry abt retirement

happy retirement

$$$$$$$$$$$$  is enaf for every one


 :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap:

you dreaming?

after you eaten bak kut teh ( costing rm15 only), will you vomit it?

no way !!
When I was young I used to pray for a bike, then I realized that God doesn't work that way, so I stole a bike and prayed for forgiveness.

It is dangerous to have a naive mindset, it may cause serious faults in decision making.

Offline ikan besar

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Re: No Worrying On Retirement? You Should be very very happy indeed
« Reply #48 on: July 05, 2015, 01:06:29 PM »
you dreaming?

after you eaten bak kut teh ( costing rm15 only), will you vomit it?

no way !!

not vomit it  but pang s...ai  keluar


 :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap:
 :P :P :P :P :P :P :P :P :P :P :P :P :P :P :P :P :P :P
I heard dr kimmy lost alot of monies

Offline Oly Shyte

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Re: Worrying On Retirement? You Should!
« Reply #49 on: July 11, 2015, 11:47:39 AM »
KUALA LUMPUR (July 11): Former civil servants are worried whether their monthly pensions will be affected as a company at the centre of the latest 1Malaysia Development Berhad (1MDB) probe had borrowed money from Retirement Fund Incorporated Inc (KWAP).

KWAP, which was set up to help the government disburse pensions, had lent RM4 billion to SRC International Sdn Bhd, one of three companies raided on July 3 as a special government task force investigated claims it funnelled money into the bank accounts of Prime Minister Datuk Seri Najib Razak.

The fund had also invested RM1.4 billion in other 1MDB subsidiaries – Bandar Malaysia Sdn Bhd, 1MDB Energy Limited, 1MDB Global Investment Limited and Jimah Energy Ventures Bhd.

The probe by the task force was into allegations that SRC International and two other 1MDB-linked companies transferred money into Najib’s accounts between December 2014 and February 2015.

“We’ve had some members come up to us and ask whether their monthly pension payments would be affected (by the investigation),” said Datuk Omar Osman, who heads the 1Malaysia Civil Servants Retirees Club.

“We tell them not to worry because KWAP is doing what it can to secure the money that it has invested. Pensioners hope their monthly pensions would not be affected by what was going on in SRC.

“We hope that whatever KWAP does to help the government pay out pensions, it does with utmost care so as to not jeopardise monthly payments,” said Omar, who is a former president of Cuepacs, the umbrella group of public sector unions.

A pensioner who requested anonymity said KWAP’s ties to 1MDB’s problems were a topic of discussion among his former civil servant friends even before the current probe into Najib accounts.

“But it’s not like people are angry or they are about to go to the streets, because at the end of the day, they still receive their monthly payments,” said the former officer of a statutory body.

Presently, pensions are still being paid out by the government while according to KWAP’s website, the fund assists the government in funding those payments.

In order to meet this function, KWAP, to a limited extent, is allowed to invest in the stock market, properties and companies to generate an income.

Its loan to SRC International in 2011 has sucked KWAP into 1MDB’s troubles even before the probe into the Najib’s accounts was launched last week.

The loan is also guaranteed by the government.

In May, Petaling Jaya Utara MP Tony Pua said the Finance Ministry (which now owns SRC International) still could not account for RM3.6 billion KWAP had lent it.

On May 21, several PKR leaders filed court injunctions to stop KWAP, Employees’ Provident Fund and haj pilgrims’ fund (Tabung Haji) from investing any more money into 1MDB or its subsidiaries.

Former Finance Ministry deputy secretary-general Tan Sri Ramon Navaratnam is aggrieved and let down by developments in KWAP and how it was snared into 1MDB’s mess.

The problem, he said, stemmed from the fact that Putrajaya’s policymakers did not understand that the government has “no business being in business”.

In the private sector, money could be risked for profit but could also be lost with the ups and downs of a business cycle, said Ramon, who is also a pensioner.

“With the government, it’s the people’s money that is being risked. How can you hold the welfare and the future of the people at risk?

“As a pensioner and a taxpayer, I am greatly saddened about how we have gotten into this mess.”

Datuk Azih Muda, who is currently heads Cuepacs declined to comment on the loan and the fund’s investments in 1MDB, saying only the government has guaranteed the RM4 billion.

“The money will not be lost, that is the guarantee from the government. It will be paid back,” said Azih, who also sits on KWAP’s board.

Azih also had a message for civil servants who are worried about their pension payments.

“I urge civil servants not be swayed by perception and sentiment, not to get involved in the politicking around the investigations and to continue doing their duties.”

KWAP has not returned request for comments on these concerns.
Disclaimer: Every "I EAT" thread created were totally owned by Oly Shyte based on personal observation. It does not represent any stock promotion, buy, hold or sell call and most importantly gathering followers. Please make your own decision wisely! - OLY Securities Research