Author Topic: Worrying On Retirement? You Should!  (Read 16244 times)

Offline KLSE LOSSER

  • Baronet
  • ****
  • Posts: 2,004
  • Wat to do tis year.
Re: Worrying On Retirement? You Should!
« Reply #100 on: October 15, 2016, 12:27:25 AM »
Retirement. .. retirement. .. retirement. .. how to retire in this high inflation world?

Malaysia's Biggest Investment Forum

Re: Worrying On Retirement? You Should!
« Reply #100 on: October 15, 2016, 12:27:25 AM »

Online king

  • Prince
  • **********
  • Posts: 56,653
Re: Worrying On Retirement? You Should!
« Reply #101 on: November 13, 2016, 09:09:34 PM »



乐龄户头,有那么糟吗?/梁键铭
384点看 2016年11月13日

理财梁伴●梁键铭
理财师
(RFP, MBA,CFP Cert TM)VKA 财富管理有限公司kevinneoh@vka.com.my
[email protected]�关,但在过去一两年所发生的巨变,相信大家都会异口同声的认同说,我们生活的挑战逐渐变重。

生活费就好像是一匹脱缰野马失去了控制,我们可能也想不到,还有什么东西可以躲过涨价的厄运了。


近期比较多人议论的,莫过于食油与汽油价格的调整,其中一个价格上调,相信就会导致我们生活费用的上涨,更何况现在是“双管齐下”,实在是难以想象,但是日子还是要过对吧?

网友也很有创意地把“掌声响起”这首经典歌曲,改编成“涨声响起”,在这些创意当中,我们也看得见,其实大部分人都是在经历相同的难处,都是在“苦中作乐”。

也许大家会有一种想法,就是基于工作及责任的关系,未能分身照顾自己的财务健康状况,要想投放一点时间与心思学习理财,但因为时间不容许而导致有心无力。

但我想劝说的是,别让这些想法为自己制造借口,这是因为我们再忙都有时间享受,都可以游乐,因此,说没有时间的人,其实并非真的没有时间,可能是没有毅力罢了。


“涨潮”挑战财务管理

回想起来,有时候人们可以对自己的衣橱里的衣服,摆设得得整整齐齐,对自己的宠物饮食起居异常用心,要旅行时候可以细心的为每一天旅程以及国家和景点做仔细的安排。

但是,对于自己的财务状况,却可以一知半解,显得一副听天由命,得过且过的态度,这种心态真的是让人不解。

人们说,危机的寓意就是危难中存有机会,因此,如果要我猜想在这种艰苦的生活新现实中,可以找到那一个好的良机,我相信肯定不会错的,就是这些压得大家都难以喘气的“涨潮”,应该都会挑战大家对于钱的管理及投资需要的看法吧?

如果我们还是继续抱着从前的心态,觉得自己不需要做出任何改变及调整,还是可以过着同样“级别”的生活水平,那么,这个人真的是非常无可救药了。

希望大家更加明白,如果今天我们的收入在扣除了11%公积金存款外,带回家的89%都不够用,那我们还有什么理由可以说服自己,相信本身可以应付退休后的生活呢?

向未来的自己借钱

要记得,退休的定义基本上是说我们现在的劳动收入将会停止,如果一个人在退休前,已经准备好一笔财务资产,可以提供被动收入或者是定时收入,那么这个人就只能够“吃老本”。

如是,那么我们的老本可以有多雄厚,基本上就决定了我们退休生活会有多长久。

就以一个简单的计算来推算,在退休以后,我们都会需要退休前收入的三分之二(2/3),如果希望达到这一点,我们至少需要在今天为日后的自己做一些准备才公平。

想要准备这些老本,我们只能够寄望在扣除生活费后,还有剩余的现金,但也许有时候,我们也会以为自己没有欠任何信用卡债而感到自豪,但如果没有欠债,可是每月都会把钱用在生活上而没有剩余作储蓄,其实也是没有实际的贡献的。

就算今天我没有向任何人借钱,但是,把自己带回家的钱都花得刚刚好没有留,那其实是在向未来的自己借钱。

你会不会也犯下这样的思想盲点呢?如果你今天的生活水准过得不错,可是到了月尾没什么钱剩,也没有存到钱的话,那么你就肯定是“中招”了。


储蓄与消费平衡是大技巧

除了生活费暴涨,近期也被议论纷纷的课题,就是公积金局所宣布有关一个新的“乐龄户头”措施。

在社交媒体网站上看见的是,人们如何评论说这是一个新的“奸计”,申述说到自己的钱,应该靠自己来管理,不需要公积金局多费心。

也有些人在投诉说,这样子的措施是基于公积金局内的存款不够,所以需要把人民的钱给锁着等等,不同的猜测同一时间涌出来。

其他的猜测我不敢评论,但是,我们真的有能力管理自己的退休金吗?

根据公积金局在2015年2月份所刊登的《会员公积金及黄金年代》手册,我们发现到非常值得关注及担忧的一点是,50%的已退休公积金会员当中,会在退休的5年内,就把公积金户头内的存款给消耗掉。

学历不决定财商

这种现象也显示了,财商其实不能与年龄有直接的关系,普遍上对金钱管理的智慧,不会因为年纪越好而越高,这也是为什么就算已经年过55岁的长辈们,也未能驾驭他们的财富或退休金。

当然,除此以外,学历也不可以直接决定或影响我们财商的高低,这也是为什么我们可以在报章上看见,有关专业人士如何掉入金钱游戏陷阱,如何跌入债务陷阱,难以摆脱这些恶性循环。

一个人是否可以存有足够的退休金,在某种程度上的确是依赖这个人的收入能力,但我觉得更有影响的因素,其实是一个人的习惯以及观念。

大部分时候,其实导致我们年老时能否有足够退休金的原因,是有没有一个良好的习惯,去支配现在的生活,在储蓄及消费之间取得一个平衡,也是一个重要的技巧。


过半会员结款不足5万公积金没用在“退休”

由于数据显示,大部分退休的公积金会员,都缺乏为自己保护退休金的能力以及“运气”。

同时,我们参考相同的手册,也可以注意到有关于在2013年的统计显示,在该年份达到年龄54岁的会员当中,竟然有69%会员的公积金户头结款,都是低于5万令吉。

此外,有54%会员的公积金户头结款,是低于4万4000令吉,这现象也让人们感到惊讶。

是的,这样子看下去,可能我们会说,公积金户头结款数额低,是因为这些会员的工资低,因此公积金的缴付率也相对的低,户头内的存款当然是不会高,对吗?

但是,理智的想一想吧,除了这个原因外,我认为主要的原因,可能就是我们可以提领第二户头内的钱,用在与退休无关的事项。

而这当中,包括购买房子、提早付清房屋贷款、教育费及医药费;先前竟然还可以用这户头内的钱来买电脑呢!

用款“门路”多难存款

这样多“门路”可以提出来,这笔存款还可以说是为退休做准备的钱吗?

大马电脑与多媒体协会在之前还建议,把这提领的计划恢复,在这样的情绪及环境下,如果真的有如此的便利,我想不少人都会响应,所幸的是,公积金局没有为大家制造这种伤害自己的机会。

当然,我们可以不接受这样的安排,但是基于大部分人都缺乏理想的财商智慧,而且根据之前提及的数据显示,大部分会员的公积金户头内的存款也不会太多。

因此,乐龄户头的推介,也莫过于希望帮那群在达致55岁后继续工作的会员们,保住由55岁至60岁这短暂5年的缴付存款而已。

增强社会安全网

这样至少如果他们不小心把55岁时提领出来的退休金给用完了,也可以在60岁时候,还有另一笔退休金可以协助他们过生活,只是这5年的存款会有多少,就是另一个值得探讨的课题了。

但是,至少不让会员们有机会把全部都花完,留一点给更年老的自己。

这样也属于一种为社会增强安全网,既然不能够强制性要会员们延迟全数提领公积金户头的年龄至60岁,那这新的措施也不失为一个折中的方案。

另外,认真想一想,这5年内所缴付的钱,如果可以来到你的口袋而不是被公积金局“锁住”,真的可以为你的生活带来巨大的变化吗?

慎防有心人怂恿提款

这个新措施,除了引来会员们的不满及评论,也会有一些趁势抓住机会的销售人员加油添醋,寄望会员们把原本应该缴付在公积金内的钱给转到储蓄保险,或者把钱提领出来做产业投资,或者参与公积金会员信托基金投资计划等。

如果你有遇见这些“有心人”,在你做出任何决定前,希望你可以认真思考,自己的决定是取决于本身的需要,还是因为情绪被煽动后的冲动?

无论如何

Offline zigzag

  • Viscount
  • ******
  • Posts: 6,139
Re: Worrying On Retirement? You Should!
« Reply #102 on: November 13, 2016, 09:11:41 PM »
Retirement. .. retirement. .. retirement. .. how to retire in this high inflation low income world?
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.

Online kittima

  • Viscount
  • ******
  • Posts: 7,148
Re: Worrying On Retirement? You Should!
« Reply #103 on: November 14, 2016, 02:19:45 PM »



Online kittima

  • Viscount
  • ******
  • Posts: 7,148
Re: Worrying On Retirement? You Should!
« Reply #104 on: November 14, 2016, 05:39:38 PM »
Where are you on the journey to financial freedom?



FINANCIAL freedom is something many of us aspire to: the ability to never worry about money, have the option to quit your job without repercussions, or retire early and spend your time doing what you truly love, instead of doing what pays the bills.
But how far are you on the road to financial freedom? Knowing where you stand can help you figure out where to go and make your aspirations clearer.

Here are the different stages that I consider useful when I think about financial freedom.

Stage 1: Full financial dependence. In this stage, you have zero income, but obviously still have basic needs: food, a roof over your head, clothing, education, healthcare.

A testament to the circle of life, this is the stage we are born in and some of us also die in. Unless you are an orphan who had millionaire parents, you grow up being fully dependent on your parents (and the government) for all your needs.

If you don’t plan prudently for retirement – for example if you withdraw money from your EPF account that should go to your retirement – or you experience a severe financial setback, you may also end up being fully financially dependent.

However, this time you will likely not depend on your parents, but on your children. Once you start working, you will leave this stage. You want to escape this stage because you want freedom from your parents.

Stage 2: Financial solvency. In this stage, you are earning an income which is sufficient to pay your monthly household expenditures as well as any payments for loans you may have. At the bare minimum, your savings are not shrinking, and perhaps you are able to add just a bit every month to your savings. Notice, that this doesn’t mean you don’t have any debt, but it means your income is enough to timely pay all your loans.
In this stage, you could still live pay check to pay check. You want to escape this stage because you want freedom from the stress of making ends meet.

Stage 3: Financial stability. In the previous stage, you are still financially vulnerable for any unforeseen event; a car that breaks down, unemployment or a serious illness. In order to be financially stable, you will need to have a financial buffer that can withstand these shocks without significant impact on your lifestyle.

For example, you have savings that can cover 6 months of your monthly living expenses. You want to attain this stage because you want peace of mind.

Stage 4: Financial independence. This phase typically requires you to have paid off all your debt, including your housing loan and student loans. Your savings are not just enough to bridge your spending for a few months, while you find a new job.

Instead, it allows you to quit your job and stay unemployed for multiple years, if that’s what you wanted.  You are no longer financially dependent on anybody.

At least a portion of your income no longer comes from employment, but is income from the investment of your savings. You want to attain this stage because you want freedom from your bank and your boss.

Stage 5: Financial freedom. In this stage, you not only have enough savings to last for a few years, but for the rest of your life! Obviously, its a big step to go from having savings for a rainy year, to living completely off of them! It means the income from your investments, funded by your savings will be more than enough to fund your lifestyle, including inflation.

Sometimes this stage is broken down, depending on whether your savings can partly fund your lifestyle, fully fund your current lifestyle or allow you to live more abundantly than you currently do. You want to attain this stage because you want freedom from any employment.

It is definitely not easy to travel through all stages, especially with the rising cost of living in Malaysia.

However, if you start early and keep your eyes on the destination, achieving stage 3 should be attainable for many Malaysians in their 30s and 40s and stage 4 for many in their 40s and 50s.

Achieving financial freedom is a long-term goal that can start on any day, so why not today?

Mark Reijman is co-founder and managing director of https://www.comparehero.my/ dedicated to increasing financial literacy and to help you save time and money by comparing all credit cards, loans and broadband plans in Malaysia.

Offline nanik

  • Civilian
  • *
  • Posts: 1
Re: Worrying On Retirement? You Should!
« Reply #105 on: November 22, 2016, 02:04:35 PM »
fight in earnest

Online king

  • Prince
  • **********
  • Posts: 56,653
Re: Worrying On Retirement? You Should!
« Reply #106 on: December 25, 2016, 02:52:00 PM »



退休的重新规划/周志强
172点看 2016年12月25日
在遗产规划上,很多人视其为死亡后的规划,其实这并不正确。“遗产规划”包括身前与身后的规划,其中一个重点在个人与配偶的退休规划。

这期,先谈谈退休规划中可预见的问题与挑战……


在过去的年代,退休代表游山玩水与吃喝玩乐。但现在退休日渐成为人生规划的一大挑战——有位即退休的长辈说:“月底就要退休,这段时间心情不好、很失落、严重失眠,饭也吃不好,想起退休后的日子觉得很没意思。”她的核心问题是原有的价值感即将消失,却还没找到另一个新的价值。

另一阶段的开始

退休不代表人生走向结束,反是另一个阶段的开始。退休不等于老年与依赖,退休代表个人生命历程重要的地位推移,如同结婚、毕业或工作。任何一次的地位推移,意味将开启新的变动。同时,地位推移也意味着个人可能失去权力、特权和声望,个人的认同亦产生改变。现代社会的个人自我认同主要从工作获取,因此一旦从职场退休,会影响个人自尊与认同感。

另外,随着医学的进步及保健意识的提高,预期10年后,马来西亚人的均年龄会延长将近80岁,这意味着从退休到生命结束会有近20年的时间。生命的延长对人类是一好事,不过,随着时代的改变,退休后的挑战也越来越高。

过去,退休后的生活费或是由子女们共同承担,医药费则由政府津贴承担,但现随着生活水准的提高,退休生活要保持退休前的品质将更显艰难。通货膨胀与人均收入不平等的大环境下,现代人要面对的经济负担越来越多,当中包括房子、车子与子女生活费等。因此,期待子女承担父母退休后的生活费就显得不切实际,同时,医药费现已是全世界最大的支出与挑战。

面对挑战生活

退休者也会面对生活规划上的挑战。从规律的生活退休后,面对突然“多出”的时间,要如何妥善运用?与家人成员互动的关系也会随着退休而产生变化。若要继续就业,但也会面对二度就业的障碍,同时也要面对如何重新融入社会与建立人际关系等问题。

至于财务方面,依据公积金局的调查报告,大多数人在退休后3年就会花完退休金。因为,无论私人界或公务员面对一次过获取退休金,这可能是他们一生中获取最大笔的资金,对于不曾管理过如此庞大的资金是大问题。所以要如何确保退休金有效的运用是学问,要学习如何避免老来潦倒。

退休后3点考量

一般而言,退休的生活有3个特点:

1.经济收入停止或减少

2.闲置的时间增多

3.社会关系的改变

对于从未投资过的退休者要小心处理钱财,特别是被受邀参与任何生意时要特别小心。因为几十年打工的退休者,没有任何商业的经验,所以要预估商业潜风险非常困难。另,因为年龄与健康的限制,失败后要重新来过不容易。因此,不鼓励退休者涉入高风险高资金的商业投资。

至于闲置的时间增多,退休者或即要退休者须重新安排日常活动的重心,不然将面对不知如何打发时间的痛苦。其重点在于维持健康生活形态非常重要,包括作息正常,固定运动,保持健康饮食习惯等等。培养健康经济的兴趣如跳舞、盆栽园艺与摄影等。有些退休者能把兴趣变成退休后的工作,这样既有收入又能享受兴趣。

参与有意义社团活动

另,在重新融入社会方面,退休者可参与有意义的社会团体活动,包括志愿服务工作、宗教、社团活动与再就业社会活动等。保持社会联系与社会参与能结交新朋友。此外,在参与一些心灵课程或宗教活动时,也可助于提升个人在生命意义与心灵的积极正面看法。


 点赞 1赞
FacebookTwitterGoogle+WhatsApp
相关课题:永续理财规划退休
上则新闻
日本古董车在台环岛旅行
下则新闻
柴油版万事达6 轿车
强劲、省油、宽敞舒适

Online king

  • Prince
  • **********
  • Posts: 56,653
Re: Worrying On Retirement? You Should!
« Reply #107 on: January 15, 2017, 07:06:37 AM »



国內  2017年01月14日
退休金难支撑生活开支 李志亮劝谨慎理財

1.3K
退休金难支撑生活开支 李志亮劝谨慎理財

(吉隆坡14日讯)財政部副部长拿督李志亮奉劝退休人士应谨慎及注重理財,很多退休人士的公积金存款无法支撑其退休生活开支,是不能忽视的现象。

他指出,许多退休人士將公积金存款花费在孩子的婚礼开销或购买孩子的房屋,而用尽了本来计划在晚年使用的退休金,他们应该要谨慎开销、不过度举债。

「养儿一百岁,长忧九十九的心態是可理解的,父母经常会为了孩子的將来用尽退休金,无论如何,谨慎开销、不要过度举债及注重理財,相信能让身为儿女者有能力奉养父母,也让父母有足够的退休金安度晚年。」

他说,僱员公积金局调查结果显示,有超过一半的公积金局前会员在5年內就把公积金存款花完,甚至有些人在一个月內就花光该笔存款,是不可忽视的现象。


李志亮今天出席隆雪中总2017年新春佳节慈善聚餐会上,致辞时如是表示。出席者包括隆雪中总会长拿督戴良业。

李志亮说,一些老人院的长者晚年身无分文、无力支付自己的生活费,最大的主因在於没有存钱养老的观念。

「在加上有著仍然抱著养儿防老的传统思想,儿女却没有能力奉养父母,或是基於其他因素,使到不少长者被迫入住养老院。」

根据妇女、家庭及社会发展部资料显示,截至2016年10月,入住社会福利部设立的9所老人院的长者有1574人,其中969人是男性,女性则有605人。

而这些人当中有460人为华裔,巫裔和印裔分別为806人及288人。

李志亮指出,大马在2030年將迈入老龄化社会,及60岁以上者將超过总人口的15%,这意味著只剩下10余年时间,能为此做出准备。

他称,政府已经著手与各单位协商以面对老龄化社会的挑战,包括设立更多老年护理院、提供专业化护理服务、增设老年医学专科医生、提供友善环境和设施和草擬老年医疗保健法案等。

「当局正积极努力为老龄化社会的到来做准备,期许引领我们的社会走向「活跃老化」(active ageing)。」

Online king

  • Prince
  • **********
  • Posts: 56,653
Re: Worrying On Retirement? You Should!
« Reply #108 on: January 21, 2017, 07:53:26 PM »



From corporate high-flyer to taxi driver
 humansofkualalumpur
 1 comments      Humans of Kuala Lumpur     Published Today 6:06 pm     Updated Today 6:12 pm

125
Humans of Kuala Lumpur
From corporate high-flyer to taxi driver
RM1 here, RM2 there, watchman helps drivers pay parking fees
‘Just hang me now’ - stories from death row
Five years old and living on the streets
‘Eight years after a stroke rendered me a vegetable’
What it's like to be in love with a refugee
Three months in Japan with just US$200
Quarter-life crisis and a blessing in disguise
What happens when a man contracts HIV in Malaysia
A story on what it's like to be a spy
More


 
The legislation raising the minimum retirement age for the private sector from 55 to 60 in 2012 was a welcome move for many.

Many workers felt it gave them an opportunity to grow their nest egg and fulfill other obligations like paying for tertiary education for their children.

In fact, with 78 percent of Malaysians with insufficient funds for retirement in the Employees Provident Fund accounts, many are seeking employment beyond retirement age to make ends meet in their twilight years.

One man who spoke to Humans of Kuala Lumpur opted for a more flexible job after hanging up his corporate suit and tie at the age of 60.

Instead of just chasing cash, he said, he wants time to chase his grandchildren.

“Unlike young people, I'm not running out of money, I am running out of time,” he said.

He shares his views in his own words:

My previous employer, Yamaha offered to take me back out of retirement to work on a contractual basis. They were offering me RM20,000 a month, as I was in charge of marketing before.

But I said no because the one thing that I regret as I look back, was that I missed seeing my kids grow up.

I wasn’t there for them, as I had to travel a lot to Japan and many other countries.

You work, you work, and drink a lot after work, and make tonnes of money.

Before I knew it, they had grown up.

And it’s not like I need the money (to continue working in a corporate job post-retirement)... I have enough to live comfortably in retirement.

Unlike young people, I’m not running out of money, I am running out of time.

Finally, I get to enjoy my hobbies and see more of my grandchildren.

And being a taxi driver, makes me happy. You know why? If I want to wake up anytime and start working, I can do it. And if I don’t feel like working, I don’t have to. I am my own boss.



Read more: https://www.malaysiakini.com/news/370078#ixzz4WOZxch5Y

Online Oly Shyte

  • Marquess
  • ********
  • Posts: 24,208
  • I EAT ????????
Re: Worrying On Retirement? You Should!
« Reply #109 on: January 21, 2017, 09:43:27 PM »
Sudah kaya lagi buat taxi kah? What's the different working in Yamaha? Still no time........ :D

Retire permanently lah! :nod:
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

Online king

  • Prince
  • **********
  • Posts: 56,653
Re: Worrying On Retirement? You Should!
« Reply #110 on: February 04, 2017, 09:48:31 AM »



Living a life without having a life
Fa Abdul | February 4, 2017
If Malaysians have to keep working well into their sixties and beyond because the cost of living is too high, what kind of quality of life can we look forward to?
COMMENT
wanita_kerja_living-cost_600

On a recent trip back to my old neighbourhood a few days ago, I bumped into an old friend, Aunty Renu. She was having tea and tosai with her children, so I joined them – we both had a lot of catching up to do.
Aunty Renu is a single mother who has worked almost all her life to raise her children. Being the sole breadwinner and a pillar of strength for her family, she has gone through quite a lot in life. But what a remarkable woman my Aunty Renu is, for she is solid proof that anyone with a strong sense of perseverance can live an independent life confidently.
I remember the last time we met, Aunty Renu told me she intended to resign as an administrative officer. Having almost fainted a few times at work and at home, she claimed the stress of her job had been affecting her health badly. With all her children working, and the burden to manage a household being lighter, she decided the best thing she could do was focus on her well-being. That was some five years ago.
As I sipped my coffee, I asked 63-year old Aunty Renu how things were, now that she wasn’t working anymore. Her reply surprised me.
“I am still working, Fa.”
“But weren’t you planning to retire a few years ago?” I asked.
“I tried but I can’t afford to.”
“I don’t understand. You were falling sick often because of the stress at work…”
“Things haven’t been the same, Fa. Everything is way more expensive nowadays. I cannot burden my children as they already have their hands full building their own lives.”
“But how about your health?” I asked, worried.
“I am managing well. I am on medication and I follow a strict diet. Don’t worry about me, now tell me about you…” Aunty Renu diverted the conversation like she always did.


I felt sad for Aunty Renu. When one has to enslave themselves to a job which is causing their health to deteriorate because the money they earn is crucial for their survival, we know something is not right in the system.
I observed Aunty Renu up close and noticed the physical changes in her. She is now much thinner than she ever was. Despite her purple hair, big beautiful brown eyes and the beauty mark by the side of her mouth, everything else about her looked different. She isn’t as bubbly as she once was.
“I am moving out of Danau Desa, Fa,” Aunty Renu said, breaking the silence as we watched her children walk home.
“Where are you going?” I asked, concerned.
“I found a cheaper apartment in Sri Sentosa. We have to start cutting down expenses, Fa. The future doesn’t look good.”
I nodded quietly. In my mind, I was still trying to absorb the fact that a 63-year-old woman who has devoted her entire life to the future of her children, now has to continue worrying about her own future. I can’t lie, my heart ached at the very thought of it.
“We are both older, mature women, Fa. At our age, I think the last thing we want is for someone else to take care of our needs. We are both independent single mothers, who have struggled for years to give our children the best in life – why do we have to end up being one of their liabilities?”
Aunty Renu’s question affected me deeply.
Walking back to my car after our brief chat, I imagined how much tougher it might be for me in the future. I mean in twenty years’ time, I would be the same age as Aunty Renu – would I too be forced to continue working so I can be financially self-sufficient and not burden my children who would by then be working on building their own lives?
No, I can’t imagine myself still in the rat race at 63.
I found myself taking a deep breath, hoping things would change by then.
But what if it didn’t?
What if things got even worse?
Sigh.
Fa Abdul is an FMT columnist.

Online Oly Shyte

  • Marquess
  • ********
  • Posts: 24,208
  • I EAT ????????
Re: Worrying On Retirement? You Should!
« Reply #111 on: March 27, 2017, 06:53:45 PM »


Retirement planning course corrections to consider

It’s no secret that millions of Americans are approaching their retirement years with meager savings and high anxiety about their financil security. And a recent study from Merrill Lynch and Age Wave reveals steps that Americans are willing to take to get their retirement back on track.

The overwhelming majority (88 percent) of people surveyed said their primary objective is peace of mind, while just 12 percent say they want to accumulate as much wealth as possible. But peace of mind means different things to different people:

57 percent report they want to live comfortably within their means.

39 percent say they want to have the financial resources to live the life they choose.

34 percent want to feel they could handle a major unexpected expense.

28 percent don’t want to feel overwhelmed by debt.25 percent want to feel confident they won’t outlive their money.

17 percent want to provide for their family if something happens to them.

Actually, this is a good planning list -- it would be best to address all of these goals.

One challenge is that talking about your finances is generally taboo in America: Only 8 percent of survey respondents feel personal finances can be discussed openly, while the remainder consider the topic a private matter or one that can be discussed with a spouse or partner or only very close family and friends. In fact, many people would rather talk about their preferences for end of life than their financial status.

It would certainly help if older workers and retirees would share their ideas and insights with their family and friends. After all, they’re all in the same financial boat.

What changes are people willing to make to enhance their financial security in retirement? Here are 11 steps the survey found Americans are willing to take:

90 percent would be willing to cut back on their expenses. Perhaps they can focus on spending just enough to meet their basic living needs and what truly makes them happy.

79 percent would seek financial advice. In this case, they’ll want to make sure their advisers are qualified and act in their best interests.

77 percent would increase the use of tax-protected retirement accounts.

75 percent would seek expert advice on how to pay lower taxes. Note that this may not be a good use of time for Americans with meager savings, since they could already be in a very low tax bracket when they retire.

70 percent would buy a financial product that provides guaranteed income for life. These people would be wise to seek low-cost income annuities that maximize their lifetime income.

66 percent would sell real estate or other personal belongings. Finding the best way to deploy home equity is a good use of time for older workers and retirees who own a home but have modest retirement savings.

64 percent would postpone taking Social Security. This is a smart move for virtually all retirees.60 percent would take Social Security as early as they could. This strategy works only if you’re sufficiently disciplined to save your Social Security benefits, don’t spend them, and are skilled or lucky enough to out-earn the stock market.

Oh, it also helps if you die fairly quickly after you retire. If you live to average life expectancies or longer, you’ll receive more income over your lifetime by delaying the start of your benefits, and that doesn’t even count the extra benefits to a surviving spouse that results from delaying the start of your benefits.

43 percent would withdraw the cash value from a life insurance policy. Such people would want to explore their options: Many policies allow the holder to convert the policy’s cash value into a lifetime annuity.

39 percent would ask social services or charities for support.25 percent would declare bankruptcy.

In addition to taking these steps, older workers would be wise to develop a strategy for generating lifetime retirement income, explore their options for continuing to work and make sure they have adequate medical insurance that supplements Medicare.

As you can see, your financial security in retirement has many moving parts. It’s well worth spending hours and days planning for peace of mind in your retirement years, so you can go enjoy the rest of your life.

 8)
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

Online king

  • Prince
  • **********
  • Posts: 56,653
Re: Worrying On Retirement? You Should!
« Reply #112 on: March 28, 2017, 06:52:46 PM »



Would You Rather Have $1 Million or $5,000 Monthly in Retirement?

The Wall Street Journal   
Shlomo Benartzi
The Wall Street JournalMarch 27, 2017
 Would you rather have $1 million or $5,000 monthly for retirement?
Would you rather have $1 million or $5,000 monthly for retirement?
Yahoo Finance Video
Scroll back up to restore default view.


These days, investors can track at any moment how the market’s daily ups and downs are affecting their wealth.
Even investors with multiple investment accounts spread across different firms can calculate changes in their net worth in real time, thanks to websites and apps that do all of the work for them.
One might think that having all of this information would make people more financially savvy, especially when it comes to saving for retirement. New research, however, suggests that for many people, it may be the opposite.
That’s in part because many of the digital tools used to track net worth present information in a way that leads some investors to develop mistaken beliefs about how much money they actually have for retirement.
Nest egg (Getty Images)
Nest egg (Getty Images)
More
Nest egg (Getty Images)
To understand why this is so, consider a phenomenon known as the illusion of wealth and the illusion of poverty, which we, along with researcher Daniel Goldstein at Microsoft Research, studied in a paper published in the Journal of Marketing Research.
To see which illusion you might suffer from, assume you have $1 million for retirement. How adequate does this amount seem on a seven-point scale, with one being “totally inadequate” and seven being “totally adequate”?
Next, assume you have $5,000 to spend every month during your retirement. How adequate does this amount seem on that same seven-point scale?
The first thing to note is that these two amounts are roughly equivalent based on current annuity pricing. (A rule of thumb is that monthly annuity payments are about 1/200th of the corresponding lump sum, assuming they begin at age 65.) And yet, despite this equivalence, people often have sharply different feelings about the two financial descriptions.
Most tools give savers the total amount saved—the $1 million. The problem is that depending on how you answered the above question, you will view that $1 million differently.

Roth or Traditional IRA: Which Works Better for You?
Which type of retirement account will work best for you?
Some people feel that $1 million is a much more adequate amount than $5,000 a month. These people tend to suffer from the illusion of wealth. Because they get a false sense of security from seemingly large monetary amounts, such as those that appear when they check their accounts, they behave as if the $1 million is more than $5,000 in monthly income. This can lead some people to undersave for retirement. One million dollars might seem like a lot—especially if you’re viewing all of those zeros on a small smartphone screen—but it isn’t nearly enough for those expecting to have, say, $8,000 a month to spend over a 20- to 30-year retirement.
Yet, other people feel that $5,000 a month is more adequate than a $1 million lump sum. They suffer from the illusion of poverty. Because they might be inclined to think about wealth in terms of monthly income as opposed to a large sum, they incorrectly assume that the $1 million they see on the screen equates to less than $5,000 a month. Instead of living the lifestyle they can afford, they worry they’re running out of money and act accordingly, skipping trips and scrimping on prescriptions.
Ironically, the illusion of poverty becomes more prevalent as the amounts of money get bigger. This is likely due to a “ceiling effect”: A million dollars is a lot of money, but so is $2 million, and so is $4 million. In short, people become desensitized to large sums; all of those extra millions lose their meaning.
In contrast, differences in monthly income still feel consequential to them as wealth increases. This is largely because we’re used to thinking of expenses in terms of monthly amounts, whether it’s a car lease or health insurance or a mortgage payment. So for some people, getting $20,000 a month might seem like a lot of money, even when having the roughly equivalent lump sum of $4 million might not.
And this brings us back to the display of financial information in the digital age. Unfortunately, the vast majority of websites and apps tend to reinforce both of these illusions by displaying our net worth and savings in terms of lump sums, not projected monthly income. Some even display largely irrelevant things like credit-card points or airline miles. The danger is that those who suffer an illusion of wealth may think they have more than they actually have, and risk overspending, while those who suffer an illusion of poverty may think they have less, and underspend.
There is an easy fix for these two illusions. Instead of highlighting only total wealth, financial websites and apps should help people focus on their projected monthly income, too. It’s this amount, after all, that puts our wealth in perspective, helping us understand the meaning of these large monetary amounts.
For the past several years, bipartisan legislation has been pending in Congress that would require employer-sponsored retirement plans to provide participants with a projection of monthly income in retirement based on their savings. While the bill has yet to become law, some plans have started to show monthly equivalents voluntarily. It is time for financial websites and apps to do the same.
Instead of focusing our attention on small daily fluctuations in overall wealth—such changes rarely matter anyway—they should encourage us to think about how our savings will impact our lifestyle in retirement. Will we have to cut back? Or can we still afford the life we want?

Dr. Benartzi, a frequent contributor to the Journal Reports, is a professor and co-head of the behavioral decision-making group at UCLA Anderson School of Management and author of “The Smarter Screen” about online behavior. Dr. Hershfield is an assistant professor at UCLA Anderson. Dr. Goldstein, principal researcher at Microsoft Research, contributed to this article. Email them at reports@wsj.com.


Online king

  • Prince
  • **********
  • Posts: 56,653
Re: Worrying On Retirement? You Should!
« Reply #113 on: April 12, 2017, 09:08:03 AM »



BNM: Only 40% Malaysians Financially Ready For Retirement
Premalatha JayaramanMonday, April 10, 2017
 Share
THERE is a growing concern on the lack of attention to long-term financial planning among Malaysians, as only 40% of the population are ready for retirement, said Bank Negara Malaysia (BNM).

“A recent focus group discussion with retirees shows that they would still rely on their children, or purchase using credit in the event of emergency or for higher value items.”

“This could be a result of lack of financial planning when they were younger,” BNM deputy governor Abdul Rasheed Abdul Ghaffour said.

“Therefore, financial education introduced from an early age and throughout life events is certainly essential.”

Abdul Rasheed said this during the launch of “Financial Management for Retirement Module — Shaping the Future Starts Now” last Friday.

“With sufficient basic financial knowledge and relevant skills — ingrained into the younger individuals’ behaviour and attitude — they will be more prepared and empowered to lead a healthier financial lifestyle as they move into adulthood,” he added.

Based on BNM’s observations, there are five major issues regarding financial literacy of the population including having inadequate knowledge on financial matters.

The central bank also said a significant majority of Malaysians display short-sighted tendencies and are inclined to “live for the moment” — that is to only focus on instant gratification at the expense of long-term financial planning.

To improve financial literacy among the people, BNM in collaboration with the Education Ministry has successfully integrated basic financial education elements into the school curriculums beginning 2014, which will be expanded to all primary and secondary school levels from 2021.

“Most financial decisions are influenced greatly by a person’s behaviour and attitude. Notably, this will require a behavioural change from within, which can be harder to initiate but not impossible to achieve,” he said.

“When equipped with the relevant knowledge and skills, an individual would acquire a positive attitude and be able to make financial decisions rationally and responsibly, for his wellbeing in the short and long terms.”

The deputy governor further said government agencies, schools, families, workplaces and the financial service industry play an important role in building financial capability and elevating financial literacy of the population.

Thus, he said an inter-agency collaboration that provides various touch points at different platforms is needed to increase the impact of financial education initiatives for the public.

Online Oly Shyte

  • Marquess
  • ********
  • Posts: 24,208
  • I EAT ????????
Re: Worrying On Retirement? You Should!
« Reply #114 on: April 21, 2017, 03:30:37 PM »
Retirement isn’t all about the money

Let’s begin with an exercise. On a blank piece of paper, write down all the things you would like to have or experience when you retire. It can be anything at all.

After that, cross out all the things that money can buy. For instance, an expensive vintage watch collection, the latest sports car model, etc.

What you are likely left with is a list of simple memories and moments that money cannot buy – sharing a bottle of wine with your sweetheart, seeing your grandchild walk for the first time, or feeling purposeful after volunteering at an animal shelter.

Not everything in retirement is about money.

Beyond financial needs, most people also need to make their retirement meaningful. It all boils down to answering one key question: what makes me happy?

Here are a few tips:

A clear vision – A financial plan is not the same thing as a retirement plan.

While building on your wealth is important, having a holistic approach to retirement may be even more vital.

Start by envisioning what you want your life to be. How will you get the most out of each day?

Maybe you want to climb Mount Kinabalu with some friends or continue to work part-time at a library. The idea is to always have something to do and look forward to, even in retirement.

Get healthy – There are also those who believe that physical health is the key to healthy ageing.

If you’re already hitting the gym – good for you! But don’t forget the mental aspect; healthy ageing of the mind is important, too.

In fact, some would argue that it’s even more important than jogging for five nights a week at 60 years old. The point is to take care of your intellectual and emotional wellbeing.

Develop your relationships – Humans are social animals, and that is the case even in retirement.

Developing new relationships and sharing experiences can help make us better, well-rounded people.

It can be as simple as sharing stories about the good old days with your friends, talking over your retirement plans with your spouse, or having get-togethers with your children and grandchildren on weekends.

At the end of the day, our close personal relationships are what drive us, and developing relationships – new and old – may just be what we need for a healthy emotional state.

A balanced lifestyle – Retirement isn’t about doing nothing at all with your life. A lack of stimulation can, in fact, affect our mental and emotional state in the long run.

Always spread your leisure time over different activities to keep yourself stimulated.

If there is one major takeaway from this article, it’s this: adopt a positive attitude.

Retirement will inevitably bring about big changes to your life, both positive and negative. No matter the changes, keeping your chin up and rolling with the punches will dictate the quality of your life after retirement.

 :)
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

Online king

  • Prince
  • **********
  • Posts: 56,653
Re: Worrying On Retirement? You Should!
« Reply #115 on: May 08, 2017, 06:06:31 PM »



2017-05-08 10:32
多少钱才够退休?.开销有别因人而异
许多人都会向往退休后财务自由,生活自在,到底需要准备多少退休金才能应付退休生活,公积金存款够不够用?是受人们关注的课题。其实,这是因人而异的,视乎个人要过奢或俭的生活。

许多人会向往退休后财务自由,生活自在,期望有足够的公积金或存款,在没有后顾之忧的情况下,应付退休生活。(图:星洲日报)
(霹雳.怡保7日讯)许多人都会向往退休后财务自由,生活自在,到底需要准备多少退休金才能应付退休生活,公积金存款够不够用?是受人们关注的课题。其实,这是因人而异的,视乎个人要过奢或俭的生活。

广告

许多人在退休后,仍要应付生活费、休闲娱乐、医疗费等,但因个人消费习惯、生活在大城或小镇的开销有别,退休金的多寡也是因人而异。

受访者:续工作有收入

一些受访者表示,即使已达退休年龄,也轻易不言休,会选择继续工作,或者以兼职形式工作,希望继续保持有收入的状态,而不只是吃“老本”,同时也让生活有寄托。

有者认为生活平平淡淡,20万令吉公积金也可以应付退休后的生活,也有人认为至少要有40至50万令吉才足够,并担心年纪越大,身体越容易出现状况,对未来在医疗费方面的支出感到担忧。

公积金局方面公布55岁基本存款的数额是22万8000令吉,根据该局的计算法,22万8000令吉存款可让一名55岁的会员,未来20年每月领取950令吉的退休金,维持基本生活。

陈坤镒:退休后续工作
较不受市场牵制

广告

在通货膨胀之下,当一个人年龄达55岁的时候,估计需要多少的公积金存款,以应付生活费、应急费、医药费、孩子教育费等,才足以应付退休后20年的生活?

飞腾理财有限公司(Fin Freedom Sdn Bhd)财务规划师陈坤镒接受星洲日报《大霹雳》社区报访问时指出,这是因人而异的,22万8000令吉的公积金存款是未来20年每月领取950令吉(当今价值,today’s value)的退休金;36万令吉是未来20年每月领取1500令吉的退休金;120万令吉是未来20年每月领取5000令吉的退休金,以上计算是假设通货膨胀率=定存率=3.5%。

询及还有什么其他的生财之道,以便让人在55岁或60岁退休后,没有后顾之忧地过退休生活?

他指出,除了股票、信托基金、产业、贵重金属等投资管道,可以参考多元的退休概念。如果一个人退休后还可以从事本身兴趣的事业(主动收入来源),那么相信这会大大的提高退休的舒适区(comfort zone),也让本身的退休金来源可以较不受市场的牵制。

广告

“除此之外,以他们的经验及知识,相信还可以对社会做出贡献。而年轻人应该专注在扩大自己的人脉及学习如何让自己增值。比如销售工作,能接触到形形色色的人群及拥有较高的收入潜能,但也要有心理准备接受销售目标的挑战及不稳定的收入。”

开源节流应对经济不景

他说,面对经济不景气,就是开源节流。快速的方法就是“节流”,控制支出。其中一个方法是列出所有开支,由最大至最小,可分为家庭、交通、孩子、父母、休闲、捐献、公积金、所得税、借贷、寿险、普险及其它开支(越详细越好)。

“个别开支可再细分,比如家庭包括房子保养、门牌税、地税、膳食、水电、租金、电讯及服饰等。其实最主要的目的是在最大的开支上“动刀”,在最大的开支减少5%要比在最少的开支减少50%来得实际。至于开源,就有赖于个人的技能来增加收入了。此外,人脉的累积长期而言是‘开源’的一个重要收入来源,千万别为了减少短期的付出(支出)而忽略了人脉的累积。”

他说,对于目前符合资格缴付个人税务,又有闲钱投资的读者,最直接的省钱方法就是省税了。“私人退休基金”(Private Retirement Scheme Fund)投资,政府提供3000令吉税收减免。国民高等教育基金机构(PTPTN)推出了国民教育储蓄计划(Skim Simpanan Pendidikan Nasional),政府提供高达6000令吉的税收减免。

陈瑞强:至少20万才够

在购物商场担任促销员的陈瑞强(59岁)表示,对他来说,当全面退休以后,公积金存款至少要有20万令吉才能应付退休生活。

他强调,除了公积金的存钱,同时也要加上本身一些存款,以及继续兼职有收入的话,相信可以应付晚年的生活。

他说,他打算在60岁后退休,退休后会找一些兼职工作,毕竟一个人如果不工作的话,身体机能会退化,工作反而可以让人充满活力,生活有寄托。

刘会君:早退休怕加速老化

经营音乐学院的刘会君(50岁)表示,本身从商,以前曾经想过在48岁的时候退休,可是后来改变了想法,觉得还是需要继续工作。

她说,太早退休,担心一旦没有工作,怕加速老化,所以继续工作是比较理想。

“当然,工作也要视本身的身体的状况而定,而我本身因为操劳过度而患上皮肤病,所以即使还有心要在事业上打拚,但也要考虑健康问题而放缓脚步,量力而为。”

她指出,需要多少公积金存款才能退休一事,也要看个人的开销多寡,一般来说,应该要有40至50万令吉的公积金来应付退休生活。

她表示,如今的医药费很贵,一个人一旦迈入中年和老年,应该重视健康问题。

询及本身的消费态度时,她形容自己是:“钱是花在刀口下”,应该花钱的时候还是会花在需要用钱的地方。

张小姐:本身也应有存钱

张小姐(销售业、38岁)认为,即使生活在怡保,过着平凡的生活,估计在未来20多年后,达到60岁退休时,至少要有50万的公积金存款,才可以保障未来的退休生活。

她说,公积金对打工一族来说,在退休保障方面固然扮演着重要的角色,而本身也应该要有一些存钱,比如定期存款、基金及购买医药保险等,如果有多余的钱,可以做多方面的投资。

她响往退休后过得悠哉闲哉的生活,所以必须趁着还有工作能力,多把握赚钱机会和养成储蓄习惯,未雨绸缪。

“同时,也要从现在开始规划退休生活,比如退休后的生活费、休闲费及医疗费都不容忽视。如果计划一切顺利,身体健康,没有发生突发状况,相信要过休闲的退休生活,并不是难事。”

文章来源:
星洲日报‧大霹雳‧2017.05.05

Online king

  • Prince
  • **********
  • Posts: 56,653
Re: Worrying On Retirement? You Should!
« Reply #116 on: May 12, 2017, 10:18:01 AM »



Malaysians top global ranking of people expecting to live off pension funds
Updated 7 minutes ago · Published on 12 May 2017 9:49AM · 0 comments

More
A
Malaysians top global ranking of people expecting to live off pension funds
Malaysians ranked the highest in the world for people expecting to retire on their pension funds, according to a study. – The Malaysian Insight file pic, May 12, 2017.

MALAYSIANS make up the highest percentage of people in the world who expect to survive on their employee pension funds after retirement, according to a study conducted by HSBC Bank Malaysia Bhd.

A whopping 68% of Malaysians believe that their employee pension fund (EPF) savings was sufficient for their post-retirement plans, said the bank's country head of retail banking and wealth management Lim Eng Seong.

"We tend to believe that because there is a retirement scheme in place, our retirement planning is done," Lim was reported as saying by The Edge Markets daily.

The study represents the views of 18,414 people from 16 countries worldwide including Australia, Singapore, UK, Hong Kong and Malaysia.


Lim said people should not depend solely on pension schemes, but instead should consider alternative sources of funding as part of their retirement plans.

The HSBC study also found that the average age at which people in Malaysia begin saving for retirement is 27, showing a high level of awareness among Malaysians on the importance of retirement savings, said Lim. – May 12, 2017.


Malaysia's Biggest Investment Forum

Re: Worrying On Retirement? You Should!
« Reply #116 on: May 12, 2017, 10:18:01 AM »