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Other Investments => Personal Finance => Topic started by: Oly Shyte on January 28, 2015, 08:57:37 AM

Title: Worrying On Retirement? You Should!
Post by: Oly Shyte on January 28, 2015, 08:57:37 AM
(http://www.thestar.com.my/~/media/Images/TSOL/Photos-Gallery/Nation/2015/01/27/HSBC_Retirement%20Infographic_Malaysia/HSBCRetirement%20InfographicMalaysiaa.ashx)

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)
Title: Re: Worrying On Retirement? You Should!
Post by: king on January 28, 2015, 08:59:14 AM


                                     :sweat: :sweat: :sweat:
Title: Re: Worrying On Retirement? You Should!
Post by: KLSE LOSSER on January 28, 2015, 09:30:05 AM
 :'( :'( :'(
Title: Re: Worrying On Retirement? You Should!
Post by: king on January 28, 2015, 09:35:05 AM


I HAVE RETIRED BUT I STILL WORRY FOR THE YOUNGER GENERATION.
Title: Re: Worrying On Retirement? You Should!
Post by: boyish - boyboy on January 28, 2015, 09:36:06 AM
Not to worry Bantuan Rakyat 1 Malaysia ....

Brim1

 :D :D :D :P :P :P
Title: Re: Worrying On Retirement? You Should!
Post by: boyish - boyboy on January 28, 2015, 09:36:29 AM

Brim1

 :P :P :P :D :D :D
Title: Re: Worrying On Retirement? You Should!
Post by: boyish - boyboy 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
Title: Re: Worrying On Retirement? You Should!
Post by: boyish - boyboy 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.
Title: Re: Worrying On Retirement? You Should!
Post by: Ļaughing Ģor 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
Title: Re: Worrying On Retirement? You Should!
Post by: king 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 ??
Title: Re: Worrying On Retirement? You Should!
Post by: Ļaughing Ģor on January 28, 2015, 05:15:19 PM
JOKE OF T CENTURY ??

WORRY OF T YEAR.
Title: Re: Worrying On Retirement? You Should!
Post by: king on January 28, 2015, 05:18:27 PM
WORRY OF T YEAR.

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

1 YR ODY OVER

SIMPLE ISNT IT ??
Title: Re: Worrying On Retirement? You Should!
Post by: KLSE LOSSER on January 28, 2015, 05:36:15 PM
Lg oso needs to worry abt retirement? Amazing...
Title: Re: Worrying On Retirement? You Should!
Post by: kittima on January 28, 2015, 05:40:57 PM
George Soros also retired at age of 84, why worried, we work until 75 lo..........  :D
Title: Re: Worrying On Retirement? You Should!
Post by: Ļaughing Ģor 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.
Title: Re: Worrying On Retirement? You Should!
Post by: kittima 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
Title: Re: Worrying On Retirement? You Should!
Post by: Ļaughing Ģor 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.
Title: Re: Worrying On Retirement? You Should!
Post by: king 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
Title: Re: Worrying On Retirement? You Should!
Post by: KLSE LOSSER on January 28, 2015, 06:58:32 PM
NOT AMAZING.
BUT
AMUSING
 :D :D :D :D :D
:thumbsup: :clap:
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on January 28, 2015, 07:25:05 PM
I am also worried about not enough money for retirement.
Better start going to the gym,
(http://creoleindc.typepad.com/.a/6a00d8341c5e0053ef019affb61824970b-pi)
Err.. LG???  :shake: :sweat:
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on January 28, 2015, 07:32:04 PM
(http://www.thephotoforum.com/photos/data/500/medium/old_man.jpg)  :sweat:

(https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcQ7ahLEauJ-CU70inErzAcgtmNWo0zOXPFG5Cl0_Bxn_Lu55Nyd)
Title: Re: Worrying On Retirement? You Should! LG's buy and hold strategy
Post by: iiinvestsmart 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.   :)
Title: Re: Worrying On Retirement? You Should!
Post by: ikan besar 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
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte 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.

(http://3.bp.~.com/_2lqbky-cSgg/RrUmkMV3gZI/AAAAAAAAAbQ/KH2c0c0n7fc/s400/loanshar.jpg)
The saviour of all debts?  :shake:
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on January 29, 2015, 09:44:29 AM
(http://www.kosmo.com.my/kosmo/pix/2009/0419/Kosmo/Rencana_Utama/ru_01.1.jpg)

The saviour of all debts?  :D
Title: Re: Worrying On Retirement? You Should!
Post by: king on January 29, 2015, 09:53:10 AM
(http://www.kosmo.com.my/kosmo/pix/2009/0419/Kosmo/Rencana_Utama/ru_01.1.jpg)

The saviour of all debts?  :D

X AH LONG
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte 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)
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte 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)
Title: Re: Worrying On Retirement? You Should!
Post by: king on March 02, 2015, 07:54:50 PM

退休退休,
退而不休?
Title: Re: Worrying On Retirement? You Should!
Post by: Ļaughing Ģor 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
Title: Re: Worrying On Retirement? You Should!
Post by: kittima 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?
Title: Re: Worrying On Retirement? You Should!
Post by: KLSE LOSSER 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?
Title: Re: Worrying On Retirement? You Should!
Post by: ikan besar 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
Title: Re: Worrying On Retirement? You Should!
Post by: king on March 04, 2015, 06:12:15 AM

KLSE was t place where I accumulated my nest egg.
Title: Re: Worrying On Retirement? You Should!
Post by: king 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.
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte 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....  ;)
Title: Keeping aside some money for your retirement
Post by: Oly Shyte 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?”

(http://www.thestar.com.my/~/media/Images/TSOL/Photos-Gallery/Nation/2015/04/12/main_arz_0504_retirementGraphicsPDF.ashx)

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.
Title: Re: Worrying On Retirement? You Should!
Post by: king on April 13, 2015, 08:54:09 AM


WHAT IS UR ATTITUDE TOWARDS MONEY ?
Title: Re: Worrying On Retirement? You Should!
Post by: ikan besar 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:
Title: Re: Worrying On Retirement? You Should!
Post by: ahbah 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.
Title: Re: Worrying On Retirement? You Should!
Post by: ahbah 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 !
Title: Re: Worrying On Retirement? You Should!
Post by: king 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.
Title: Re: No Worrying On Retirement? You Should be very very happy indeed
Post by: ikan besar 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

 :) :) :) :) :) :) :) :) :) :) :) :) :) :) :) :) :)
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte 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.
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte 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)
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on July 05, 2015, 01:00:31 PM
This New Study Suggests You've Been Thinking About Retirement All Wrong

(http://g.foolcdn.com/editorial/images/171505/ssa-fb10_large.jpg)

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.
(http://g.foolcdn.com/editorial/images/171505/profit-loss_large.jpg)

 :sweat:
Title: Re: No Worrying On Retirement? You Should be very very happy indeed
Post by: ikan besar 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:
Title: Re: No Worrying On Retirement? You Should be very very happy indeed
Post by: zigzag 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 !!
Title: Re: No Worrying On Retirement? You Should be very very happy indeed
Post by: ikan besar 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
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte 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.
Title: Re: Worrying On Retirement? You Should!
Post by: king on July 11, 2015, 01:43:54 PM

1 Malisia DiTipu Bugis
Title: Re: Worrying On Retirement? You Should!
Post by: Paul99 on July 11, 2015, 02:07:45 PM
sad!  I better prepare to withdraw all my account 2 to settle the housing loan asap.

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.

Title: Re: Worrying On Retirement? You Should!
Post by: kittima on July 11, 2015, 02:29:51 PM
(https://scontent-kul1-1.xx.fbcdn.net/hphotos-xpf1/v/t1.0-9/10986434_899964453398326_1354549930619882396_n.jpg?oh=dcf6631416fda2693f39f01467fc4c8a&oe=5657F9B3)
Title: Re: Worrying On Retirement? You Should!
Post by: Dorky on July 11, 2015, 02:32:41 PM
3i should heed the warning and start liquidating his entire portfolio before it's too late.
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on July 25, 2015, 07:02:54 PM
Afraid your retirement nest egg won’t last long? You’re not alone

We once thought of retirement as a time to relax, play golf and maybe travel — to finally have a little fun. For some, that will still be the case.

For others, the thought of retirement brings anxiety: They’re worried that they’ll run out of money.

In a recent survey by the Transamerica Center for Retirement Studies, 44 percent of workers of all ages cited having insufficient finances as their biggest fear.

And a quarter of middle-class Americans said they “get depressed” thinking about their finances during retirement, according to a Wells Fargo Middle Class Retirement survey. Forty-eight percent of those who have not retired were not confident that they will have saved enough to live “the lifestyle they want” in retirement.

“I don’t know that there is anyone who doesn’t have that fear,” says Kevin Leahy, chief executive of Connecticut Wealth Management. “Our clients tend to be very successful. Most of them have a low probability of running out of money. Yet they have that fear.”

Added Michael Mussio, managing director at FBB Capital Partners in Bethesda: “That is people’s biggest anxiety.” He’s found that the fear comes mostly from people realizing that they are no longer adding to their savings but will soon have to withdraw. “The anxiety is that I will have to have this last me for the rest of my life.”

Thomas West, senior associate at Signature Estate & Investment Advisors in Tysons Corner, says it is the overwhelming fear among baby boomers.

“Sometimes, the uncertainties of how long someone is going to live can be overwhelming, and the thought of health-care costs can be overwhelming,” West says. “And the complexity can lock them out from taking any near-term action.”

The best way to feel better about retirement is to develop a plan, financial advisers say. Mussio says that involves discussions of withdrawal rates from retirement savings and longevity.

“Then you will understand exactly where you stand,” says Bob Gavlak, wealth adviser with Strategic Wealth Partners in Columbus, Ohio. “Rather than sit there and think, ‘Will I have enough money?’ or ‘I’ll probably have enough,’ have a set plan in place. Take it from ‘I think I’m okay’ to ‘I know I’m okay.’ ”

“What I try to do is get them engaged in taking some action and not be a bystander to their own retirement future,” West says. “I like to give people something to do. It relates to how do you make sure you are prepared, and get them used to following a regular process where they are making financial decisions.”

Ryan Wibberley, chief executive of CIC Wealth Management in Gaithersburg, says your chances of not running out of money increase with some form of guaranteed income.

“In D.C., we have a lot of people with pensions, especially government pensions,” he says. “Their probability of success is good.”

Stephen DeCesare, president of DeCesare Retirement Specialists in Marlton, N.J., also says that fixed annuities are a good strategy if you are worried about running out of money. “A fixed annuity with a cost-of-living increase will give you steady income,” he says.

Which brings us to the people who really are in danger of running out of money because they haven’t saved enough or are spending too much.

Tim McGrath, founder of Riverpoint Wealth Management in Chicago, says he sometimes recommends that the client work an extra year or have a part-time job during retirement. “That makes a difference,” he says.

“The most important first step is to have that frank conversation,” Leahy says. “Sometimes people understand that, and sometimes they don’t. You can tell someone they need to exercise and diet and take medication. It doesn’t mean they will do any of those things. But you don’t want your physician to dance around that.”

“Perhaps they can retire later,” he says. “Perhaps they can cut spending. Perhaps they can change the investment approach. Sometimes they can become more tax-efficient. Obviously, it’s different for every person.”

Mussio says the size of a client’s nest egg can sometimes make them overconfident.

“We tell them the rate they are drawing down from their portfolio is unsustainable,” Mussio says. “One million dollars is always seen as a lot of money. For someone who is retiring at 60 and plans to withdraw $80,000 a year from their portfolio for the rest of their life, that’s not realistic. We have to tell clients that if you keep spending at this pace, you will run out of money.”

In extreme cases, he says, he will recommend that the client move to Plan B — selling the house. But he says it’s less painful if clients follow their planners’ advice.

“The most empathetic situation is where there is a couple, and one gets sick and has to go into a nursing-home situation,” Mussio says. “Now the person managing financial resources has this gap where they went from supporting one household to supporting two. That can be scary. You can look at long-term care insurance to insure against that risk. But these are levels of high emotional anxiety and financial anxiety. We try to coach people through that. But it can be tough.”

McGrath says he believes that many are prepared and it’s just a matter of whether they can maintain the lifestyle they want. But a huge swing in the market, tax-law changes or inflation could change everything.

“Most people I work with, it’s not like they will live in the poorhouse,” he says. “The question is, will they do all the things they want to do? If they have to cut back, it will be the vacations and the fun things they want to do.”
Title: Re: Worrying On Retirement? You Should!
Post by: king on October 11, 2015, 02:42:36 PM
1 Malisia DiTipu Bugis

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    ??

         ??
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on November 02, 2015, 11:59:09 AM
What to invest in for your retirement

Not many countries in the world have a compulsory retirement saving scheme, but in Malaysia we are fortunate to have the EPF to help employees save up for their retirement right from their first job!
The EPF scheme, which has been around since 1951, requires employers to contribute a statutory rate of at least 12% to employees’ EPF savings and 11% share comes from employees’ own salary.

Although the guaranteed minimum dividend rate is 2.5% a year, EPF members have enjoyed an average dividend of 5.7% over the last 10 years (from 2005 to 2014). As such, most Malaysians rely on their EPF savings for retirement.

So much so for many, the EPF is the only source of funding for their retirement. But this mindset is set to change. 

Eggs in different baskets

While EPF’s dividends have been nothing less than impressive, far too many people make the error of putting all their eggs in one basket when it comes to saving for retirement.

It is essential to diversify your investment to avoid risking everything that is put in one basket. If the basket falls, you will have no more eggs.

By diversifying your retirement portfolio, you decrease the chance that all your investments will experience the same negative market forces at the same time.

One way is to blend a variety of different investments with various characteristics so you can reduce their overall risk while increasing their potential for greater long-term results.

Even smarter investors would invest in assets that counter react each other in the same economic and market conditions.   

Quote
Investment Product
 
Profitability

(potential return)
 
Liquidity

(ease of converting into cash)
 
Security

(safety of investment)
 

1
 
Equities

-   Ordinary shares of companies that are listed on the stock exchanges.

-   Provides earnings to an investor in form of capital appreciation and dividend payments.
 
Generally, stocks and shares are considered high returns investments
 
Depending on individual stocks and market conditions. Some stocks are more marketable than others and are traded in higher volumes. If market condition is favorable, the stocks can be sold much easier than during bad times.
 
Generally, stocks and shares are considered high-risk investment as they fluctuate according to market sentiments. For those to invest in overseas stocks, the risk would include currency and political risks.
 

2
 
Unit Trusts

-   Professionally managed pool of funds that are broken down into units for sale to investors.

-   Allow investors to have indirect involvement in a range of investments i.e. equities, bonds and fixed income securities, to diversify investment risks.
 
Investors have a chance to make capital gains as well as dividends. Profitability potential  is fairly high and is ranked slightly below that of equities
 
Unit trust is considered liquid and can be redeemed on demand. The only delay is processing time, which usually takes no more than a week.
 
Comparatively safer than equities but still subjected to market forces, be it equity market or bond market.
 

3
 
Private Retirement Schemes (PRS)

-   Similar to unit trust, it is a professionally managed pool of funds.

-   Dedicated for retirement only

-   Lower fees and charges

-   Tax reliefs and incentives available
 
(same as unit trusts)
 
(same as unit trusts)
 
(same as unit trusts)
 

4
 
Investment-linked Insurance

-   Insurance policy that gives investors both benefits of insurance and investment under a single  integrated plan

-   Investment characteristics of product are similar to unit trust
 
Like unit trust, investors stand a chance to make capital gains as well as dividends. Profitability potential is also comparable to unit trust and ranked higher than traditional life policies.
 
Considered liquid as investment units may be sold for cash.
 
Like unit trust, this is comparatively safer than equities. Because the investment portion is subjected to market forces, it is considered less safe than traditional life policies.
 

5
 
Annuities

-   A form of insurance designed to provide a stream of income to investors in exchange for a lump sum or savings over a period prior to the payment date.

-   Depending on type of annuity, income stream can be for a fixed period of lifetime
 
Usually on the lower end as compared to most other investments. Returns depend on the duration and generally, there is no capital appreciation. Because income stream is fixed, income may be severely eroded by inflation.
 
Because capital sum is given as a purchase price for a stream of income, it cannot be converted to cash on any change of circumstances that demands lump sum cash. The stream of payment is in cash form, hence, it is totally liquid.
 
Generally considered one of the safest.
 

6
 
Real Property

-   Properties exclude home of investor but can be in form of houses, condos, flats, land, factories, shop lots or other commercial properties.
 
Depending on type, location and market timing.
 
One of the least liquid investments to hold. Salability depends principally on location and market timing.
 
It is tangible and scarce over the long-term hence it is quite safe compared to equities. But, value can be severely eroded during bad times.
 

7
 
Fixed-Income Securities

-          This include fixed-deposit accounts, bonds and other debt instruments with fixed interest payments.
 
Lower than equities.

Bonds, depending on its grade but generally higher than bank deposits. If interest rates go down, bond prices go up providing capital appreciation.

Bank deposits, rates vary with time and financial institutions. No capital appreciation

Retirement investment options

A key reason why people invest is to protect them against the decrease in purchasing power brought about by inflation. By investing the savings at rate equal or above the inflation rate, the purchasing power of the savings will be preserved or increased.

There is a plethora of investment products in the market with different characteristics which you consider using to diversify your retirement baskets.

Your retirement savings are sacred, so it is understandable that you don’t want to take unnecessary risks. But that doesn’t mean you should rely on safe investments such as bank fixed deposits.

To build a nest egg large enough to see you through retirement, which may last 20 years or more (Malaysia average life expectancy rate - 75 years old), you will need the growth potential that equities can provide.

If you are still 20 to 30 years away from retirement, it is recommend to have a lion’s share of your retirement portfolio in equities or equity unit trust funds.

If you don’t have the stomach for steep downturns, a more prudent investment course is to throw some bonds into the mix.

For example, by having 70%-80% of your portfolio in equities and 20%-30% in bonds, allows you to capture most of the long-term growth of equities while sheltering your investments somewhat during market downturns.

Then, as you approach retirement age, the idea is to shift more of your portfolio into bonds.

Even in retirement, it pays to maintain a healthy dose of equities or equity unit trust funds.

Set a realistic goal as to how much returns you hope to achieve on a yearly basis. Don’t aim for investments that provide astronomical growth only for a year or two.

Some investments may bring you on a hair-raising volatile rollercoaster ride of big upsides on some years and deep plunges on others for taking big risks.

Instead, look for investments that provide you with consistent returns that do not fluctuate much during bloom and gloom markets.

Most importantly, as you get familiarised with investing for your retirement, pay attention to how much risk you can stomach.

Your risk appetite will in turn help you to adjust the asset allocation in your portfolio for diversification.   

At the end of the day, investing for your retirement shares very similar wisdom with picking out your food at a buffet line.

It is about picking the best food amongst a plethora of offerings that complement your personal palate, know your appetite so to not overdo it and optimizing the value and enjoyment of what’s on your plate.

 8)
Title: Re: Worrying On Retirement? You Should!
Post by: iiinvestsmart on November 02, 2015, 12:08:23 PM

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


Now I know how young he is.   :)
Title: Re: Worrying On Retirement? You Should!
Post by: iiinvestsmart on November 02, 2015, 12:12:19 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


Going to the gym --- to be healthy --- so you can then work  -- to an older age.

Going to the gym --- your health is better --- you live longer --- you need a bigger retirement fund.


Working for active income is not the solution, it is building an automatic recurrent cash passive income that is the answer.
Title: Re: Worrying On Retirement? You Should!
Post by: iiinvestsmart on November 02, 2015, 12:13:40 PM
George Soros also retired at age of 84, why worried, we work until 75 lo..........  :D


Many successful investors continue to remain active in the field at advance ages. 
Title: Re: Worrying On Retirement? You Should!
Post by: iiinvestsmart on November 02, 2015, 12:20:51 PM
3i should heed the warning and start liquidating his entire portfolio before it's too late.




I noticed Dorky always get his predictions entirely wrong. 

His latest was the Fed raising the interest rate in September.

Then he blamed this on his friend who gave him the tip.

He didn't even make his own analysis of this tip, presumably.   :)

How to even take Dorky seriously, let alone any of his advice?   :D
Title: Re: Worrying On Retirement? You Should!
Post by: king on November 02, 2015, 01:43:50 PM

Now I know how young he is.   :)

Senior citizen but young at heart lor
Title: Re: Worrying On Retirement? You Should!
Post by: king on November 02, 2015, 01:45:33 PM
Senior citizen but young at heart lor

No employment income but never apply brim too
Title: Re: Worrying On Retirement? You Should!
Post by: ikan besar on November 02, 2015, 01:49:19 PM
Senior citizen but young at heart lor

You need donation to survive

jes like ah cheap gor

 :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap:
Title: Re: Worrying On Retirement? You Should!
Post by: king on November 02, 2015, 01:55:06 PM
You need donation to survive

jes like ah cheap gor

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

Har Har Har
I get coffee money fr bursa.
No need evil donation.
Title: Re: Worrying On Retirement? You Should!
Post by: king on November 02, 2015, 01:56:20 PM
Har Har Har
I get coffee money fr bursa.
No need evil donation.

But at times I do donate a bit to the needies.
Title: Re: Worrying On Retirement? You Should!
Post by: CurryLee on November 02, 2015, 03:26:28 PM
So King suk....wintoni can buy ah??  :D
Title: Re: Worrying On Retirement? You Should!
Post by: CurryLee on November 02, 2015, 03:31:08 PM
I heard wintoni gonna fly soon wo.....veli high....maybe can buy some for retirement... :D
Title: Re: Worrying On Retirement? You Should!
Post by: iiinvestsmart on November 04, 2015, 03:32:29 PM
6 timeless money lessons from a nearly 20-year-old personal finance classic
KATHLEEN ELKINS YOUR MONEY    OCT. 28, 2015,

image: https://static-ssl.businessinsider.com/image/562e8f3abd86ef775d8b9c8e-4147-3110/3091541869_0f92f29b0d_o.jpg


Kiyosaki’s money lessons are just as relevant today.

Robert Kiyosaki grew up with two father figures: “poor dad” — his real father who died with bills to pay — and “rich dad,” who started with little before becoming one of the richest men in Hawaii.

Both fathers were successful in their careers, worked hard their entire lives, and earned substantial incomes, but one always struggled financially.

Kiyosaki started to notice fundamental differences in the way “rich dad” and “poor dad” thought, spoke, and acted: “I noticed that my poor dad was poor, not because of the amount of money he earned, which was significant, but because of his thoughts and actions,” he writes in the personal finance classic, “Rich Dad Poor Dad.”

Here are six timeless lessons he learned from “rich dad” that helped Kiyosaki master his money, build wealth, and ultimately retire comfortably at the age of 47:

image: https://static-ssl.businessinsider.com/image/562e896a9dd7cc15008c4dc1-960-720/.jpg


‘It’s not how much money you make. It’s how much money you keep.’
Most of us learn how to make money — how to get a job and work hard — yet we don’t learn how to manage it, the important part. “Money without financial intelligence is money soon gone,” states Kiyosaki.

You don’t need to be an expert, have an MBA, or even study personal finance books cover-to-cover to acquire financial intelligence. Start by learning the difference between an asset and a liability, the single most important distinction to recognize if you want to get rich, Kiyosaki says. Next, focus on bettering your savings, and ensure that more money is not going out than coming in.

It’s also important to note that more money will often not solve your financial problems. “In fact, it may compound the problem,” Kiyosaki writes. “Money often makes obvious our tragic human flaws, putting a spotlight on what we don’t know. That is why, all too often, a person who comes into a sudden windfall of cash — let’s say an inheritance, a pay raise, or lottery winnings — soon returns to the same financial mess, if not worse, than the mess they were in before.”

image: https://static-ssl.businessinsider.com/image/562e86f6bd86ef20008c4d45-960-720/.jpg


‘The poor and the middle class work for money. The rich have money work for them.’
Kiyosaki isn’t the only one to point out that there is a difference between how rich people and average people choose to get paid. Average people choose to get paid based on time — on a steady salary or hourly rate — while rich people generally own their own businesses, work on commission, or choose stock options and profit sharing over higher salaries.

“If you work for money, you give the power to your employer,” Kiyosaki writes. “If money works for you, you keep the power and control it.”

Working for money is the easier path — it’s what we’re taught in school (how to write a résumé, get a job, and work hard). Having your money work for you — by starting a company, being your own boss, or investing — requires calculated risk and a level of comfort with uncertainty.

image: https://static-ssl.businessinsider.com/image/562e8acebd86ef1b008c4d67-960-720/.jpg


‘It’s not the smart who get ahead, but the bold.
“In the real world outside of academics, something more than just grades is required,” Kiyosaki writes. “I have heard it called many things: guts, chutzpah, balls, audacity, bravado, cunning, daring, tenacity, and brilliance. This factor, whatever it is labeled, ultimately decides one’s future much more than school grades do.”

Rich people play to win, which, much like having your money work for you, requires an element of risk-taking and comfort with uncertainty.

As important as it is to take risks to accumulate wealth, it’s equally important to be smart about risk-taking, which is why Kiyosaki emphasizes “managing” risk. Blind risk won’t get you anywhere, but intelligent risk — in your which education and experience play a key role — is the mother of reward.

The key to intelligent risk is developing financial intelligence, Kiyosaki writes: “There is always risk. It is financial intelligence that improves the odds.” He recommends reading up on accounting, investing, and the markets to start becoming more financially intelligent.

“Your financial genius requires both technical knowledge as well as courage,” Kiyosaki says.

image: https://static-ssl.businessinsider.com/image/562e8b12bd86ef10008c4b43-960-720/.jpg


The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth.’
Rich people find creative solutions to money problems. They take whatever happens and make it better using their financial intelligence, Kiyosaki emphasizes.

Financial intelligence is simply having more options,” he writes. “If the opportunities aren’t coming your way, what else can you do to improve your financial position? If an opportunity lands in your lap and you have no money and the bank won’t talk to you, what else can you do to get the opportunity to work in your favor? … It is not so much what happens, but how many different financial solutions you can think of to turn a lemon into millions.”

image: https://static-ssl.businessinsider.com/image/562e8b7fbd86ef175c8b9c67-960-720/.jpg


‘The rich focus on their asset columns while everyone else focuses on their income statements.
While average people are busy concerning themselves with their hourly pay, rich people are focusing on their assets and net worth.

Start acquiring assets — things that put money in your pocket — rather than liabilities, things that take money out of your pocket. Assets are things like stocks, bonds, your own company, and intellectual property, while liabilities include mortgages, consumer loans, and credit cards.

“The long-term rich build their asset column first,” Kiyosaki writes. “Then the income generated from the asset column buys their luxuries. The poor and middle class buy luxuries with their own sweat, blood, and children’s inheritance.”

image: https://static-ssl.businessinsider.com/image/562e8e2a9dd7cc11008c4d2f-960-720/.jpg


‘People who avoid failure also avoid success.’
Most people never win because they’re afraid of losing, or failing, Kiyosaki explains.

“Yet if you look at the way humans are designed to learn, we learn by making mistakes,” he writes. “We learn to walk by falling down. If we never fell down, we would never walk. The same is true for learning to ride a bike … The same is true for getting rich … Failure is part of the process of success.”

“I look at my money much like my game of tennis,” he continues. “I play hard, make mistakes, correct, make more mistakes, correct, and get better. If I lose the game, I reach across the net, shake my opponent’s hand, smile, and say, ‘See you next Saturday.’”


Read more at http://www.businessinsider.my/money-lessons-rich-dad-poor-dad-2015-10/#xvUXrLQWimWXL4sS.99
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on December 10, 2015, 11:19:20 AM
How to save for a comfortable retirement

(http://www.thestar.com.my/~/media/online/2015/12/09/10/17/dcx_doc6nh52i8tlap1bk4lmdz.ashx/?w=620&h=413&crop=1&hash=D1C6B985231921681FCF8433736E6B1BA8958BE9)

THE habit of saving for one’s retirement seems to be slowly becoming a thing of the past for the younger generation. These days, the Gen Y in Malaysia have an endless wish-list of items that they rather spend their money on, encouraging the culture of accumulating debt, and living beyond one’s means.
 
 The recent study done by the Asian Institute of Finance (AIF) highlighted that Gen Y in Malaysia are experiencing significant financial stress early in their life with many trapped in the habit of emotional spending.

 The study, entitled Finance Matters: Understanding Gen Y – Bridging the Knowledge Gap of Malaysia’s Millennials, showed that Gen Y were accumulating debt at a young age, with 70% of respondents who owned credit cards reporting that they tended to pay only the minimum monthly payment while 45% did not pay debt on time at some point.

 This fact, combined with the unpredictable performance of our ringgit along with the rising cost of living (what with the recent drastic toll hike), presents an alarming outlook for our future in a financial setting. Can we afford retirement, let alone sending our children overseas for education?

 Many of us live with the motto ‘Spend now, save later’, believing we should enjoy our hard-earned money while we can and that YOLO (you only live once).

 However, the fact of the matter is, if you don’t start cultivating the habit of saving now, you will likely not ever develop it. After all, the longer you’ve gotten used to a certain lifestyle, the harder it is to downgrade to a more prudent way of living.

 Why is our savings so important?

 Savings play an important role in building a financially secure lifestyle. Besides acting as a cash reserve for emergencies, your accumulated savings does something of further importance – it helps you grow your money by way of investment, allowing you to achieve your desired life goals such as purchasing a property or retire at ease.

 The earlier you start saving and investing, the more years your money will have to accumulate interest, which gets compounded over time. In the case of retirement savings, the earlier you start saving, the less you will have to worry about enjoying a comfortable retirement.

 A HSBC report entitled The Future of Retirement, A Balancing Act released earlier this year, which reveals key findings of a global study, shows that on a global scale, retirement is not the main savings priority for 85% of working age people.

 Furthermore, 65% of retirees who did not prepare adequately for a comfortable retirement did not realise this until they had retired.

 Relying on our EPF savings alone is not a good idea either. The EPF 2014 annual report released this February highlighted that by age 54, the majority of members (68%) had accumulated savings of only RM50,000 and below, due to the many qualified withdrawals they had made beforehand. This amount is hardly enough to live on comfortably beyond two years.

 So, how does one ensure a good build-up of retirement funds?

 Save first, then spend

 Cultivate the habit of saving from now itself. When you receive your salary every month, pay off your bills and put aside about 20% to 30% of your income into a savings account which you should not touch unless an emergency arises. Continue this habit as long as you’re earning.

 Grow your money

 Savings alone is not enough. Keeping your money stagnant in your bank account is actually causing your savings to depreciate due to the rising rate of inflation.

 Once you’ve built up a substantial cash reserve for yourself, invest a portion of your savings into things like unit trust funds, which will grow your money exponentially over time. Whatever the case, make sure your returns on your investments are above the fixed deposit rate of 4%.

 Private retirement schemes (PRS) are also gaining in popularity due to government endorsement and incentives.

 PRS works similarly to EPF, except that the contribution is completely on a voluntary and on an as-and-when basis. Your investments are able to be withdrawn once you hit the age of 55 years old, and in the meantime, you have the option of switching to other fund managers if you wish.

 Up to RM3,000 of PRS contributions are tax deductible each year, and for those below 30 years of age, the Government will sponsor a one-off payment of RM500 for those who contribute a total of RM1,000 to your PRS funds within a year. These incentives were put in place to encourage both the young and old to take charge of their retirement planning from early on.

 How to begin investing your money?

 You may think that investing takes up too much time and effort. However, one company has come up with an Internet-based investment platform which is increasingly attracting the attention of many investors.

 Headquartered in Singapore, Fundsupermart.com is a financial products distribution platform which reaches out directly to investors in a B2C business model, as well as independent financial advisories and financial planners in a B2B business model.

 Mainly dealing in unit trusts, the platform makes investment easy by allowing do-it-yourself investors to buy into unit trusts, savings plans, and contribute to PRS, all through one online platform, Fundsupermart.my.

 The portal offers a zero sales charge policy for all its PRS funds. For more information on PRS, click here.

 Take charge of your financial health and retirement planning before it is too late. Start your saving and investment efforts now to ensure that you have a worry-free and comfortable retirement.

 8)
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on January 14, 2016, 06:31:38 AM
How big your retirement fund should be at every age

(http://img-s-msn-com.akamaized.net/tenant/amp/entityid/CCutj8.img?h=321&w=728&m=6&q=60&o=f&l=f)

Many people are overwhelmed by the responsibility of having to amass enough cash for retirement.

Only about half of workers participate in a workplace retirement savings plan, according to the Bureau of Labor Statistics. And once they have a retirement account, few people ever do then math on how much money they’ll need to be able to retire or check if they’re on pace to get there.

That’s why advisers use rules of thumb to help people figure out how much money they should have saved when they retire, along with milestones they should aim for at certain ages along the way.

For instance, you may have heard at one time or another that it’s smart to save one times your salary by age 35. That is what investment firm Fidelity Investments used to recommend that people save when they’re starting out if they wanted to have reasonable financial security in retirement.

But now, Fidelity is saying, that’s not enough.

Now, the firm is recommending that people save one times their salary by their 30th birthday. By the time they’re 35, savings should add up to double their annual pay. By 40, a retirement account should hold three times a person’s salary. The numbers keep growing, all the way to age 67, by which retirement savings should add up to 10 times a person’s pay.

For people who have never stopped to think about how much income they’ll have in retirement or if they need to save more, this timeline could push some people to pause and do the math, says Jeanne Thompson, a vice president at Fidelity Investments. “I think one of the biggest questions people have, especially as they’re starting out, is “Am I on track?” she says.

The firm updated its guidelines last month to reflect a more conservative rate return that it says is closer to what might be seen for a portfolio that is at least 50 percent invested in stocks. The firm now assumes savings will grow by about 3 percent a year on average, compared to the previous model that assumed a fixed rate of return of 5.5 percent a year.

Think about setting aside just one percent more of each paycheck to help save more for your retirement. Making minor sacrifices on a consistent basis in the short term – such as bringing lunch to work once a week as opposed to buying it – could provide you with the ability to dine out once a week in retirement. (Fidelity Investments)

The new rules are also meant to apply to a broader group of workers and savers. (The previous guideline was based on a person earning $70,000.)

Given how much Americans already struggle with saving, the numbers from Fidelity might hit some people like a punch in the gut. Too often, workers realize just years before they hope to retire that they don’t have anywhere near the amount of savings they’d need to pay the bills.

Indeed, more than half of people age 55 and up don’t have any money saved for retirement, according to a 2015 report from the Government Accountability Office. And about half of those people aren’t getting a pension, leaving them with little to no retirement income outside of Social Security benefits.

Still, this is just one guideline. And it is meant for people who plan to retire at 67 and who want to have as much income in retirement as they did while they were working. Those people who plan to work longer, or who expect to have fewer expenses in retirement, should adjust the guide to meet their needs, she says.

“It’s meant to give people some sort of a gauge and to get them interested and thinking about it,” Thompson says.

If this timeline scared you, use it as a prod to start thinking about what you could do to boost your savings rate. For starters, the guideline assumes that savers have been setting aside at least 15 percent of their pay throughout their careers, including any employer contributions. If you aren’t saving at least that much, that could be one target to aim for. If you can’t save as much as you want to at the moment, set it up so that your contribution rate increases automatically by one or two percentage points each year.

“This is the rule of thumb for the best-case scenario,” Thompson says. “Not everyone is there but the closer you can get, the more comfortably you might live in retirement.”

 8)
Title: Re: Worrying On Retirement? You Should!
Post by: king on January 14, 2016, 06:40:06 AM

Fr 60 to 80, and w/o debt n chronic disease,

Mininum 500k per person needed in klang valley.
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on January 18, 2016, 02:22:32 PM
7 biggest retirement planning mistakes

JUST the thought of retirement can cause anxiety and many to feel overwhelmed. A recent global survey showed that 88% of pre-retirees in Malaysia stated they are worried about not having enough money to live on day-to-day at retirement and that goes to show how unprepared some of us are.

No matter how difficult it is, we still must face the music. Retirement planning is one of the most important financial goals one will undertake and the stakes couldn’t be higher. Just a couple of missteps can change your joyful golden years to poverty, dependence and penny-pinching years.

One of the key to success is to avoid obvious retirement planning mistakes. You need to get it right the first time because there is no second chance once you hit retirement.

So, let’s look at the mistakes that result in this potentially high misstep rate and what you can do to avoid becoming part of the statistics.
 
Retirement planning mistake #1: No plan

You can’t get to where you want to go if you don’t even know where the destination is. You must set the goal and then design a plan to achieve it. Failing to plan is the same thing as planning to fail. If you have not already set specific measurable financial objectives and implement a step-by-step plan to achieve them, then you are setting yourself up for disappointment.

Have you calculated your retirement planning goals? Have you committed to regular savings goals? Do you have a step-by-step action plan based on proven principles that will lead to financial success? If not, what is stopping you? Time is working against you every day you wait.

Retirement planning mistake #2: Not saving enough

Let’s face it. Nobody likes to be told to save more. You would rather spend money on that five-star vacation, that sports car or that branded monogram bag you’ve had your eyes on for months – that instant gratification. But the choice you are making today will have profound implications on your retirement. You are either saving for retirement today or consuming your retirement today!

A few inconsequential inconveniences today can compound over time into a comfortable retirement tomorrow. For example, that RM10 fancy coffee you buy each day for 30 years, if saved at 10% annual interest compounds to an astonishing RM600,000 for retirement tomorrow. It takes discipline but nobody should pass on that opportunity of saving adequately for retirement.

Rule of thumb is to set aside about one-third (33%) of your salary for retirement. Your EPF contribution (employer and employee contributions) should give you at least 23% while the remainder 10% can be self-contribution to investments such as the Private Retirement Scheme (PRS), unit trusts, stocks, bonds or a combination of everything that can yield a decent and consistent return without taking too much risks.

Retirement planning mistake #3: Don’t start saving early enough

People make the mistake of believing they have plenty of time to plan for retirement once they buy a home, build a family and put children through university and so on. When you are in your 20s you think retirement is 40 years off so you put off till you are in your 30s and 40s but by then you have your home mortgage, car loans and kids’ education fund to take care of.

Next thing you know, you’re in your 50s and so much time has been lost that your retirement savings is forever handicapped. The most valuable asset you have when saving for retirement is time.

The longer you delay getting started, the harder it will be and the greater risk to your future retirement. The reality is there will never be a right time to start building toward a financially secured retirement. The longer you wait, the harder it gets because there is less time to compound your way to wealth.

Every six years you wait to get started roughly doubles the required monthly savings necessary to reach the same level of retirement income. Procrastination is a very painful and expensive mistake when it comes to retirement planning. So, get started now.

Retirement planning mistake #4: Inaccurate retirement income assumption

How much income do you need to maintain your current lifestyle in retirement? Not surprising that a vast majority of people will answer, “I don’t know,” or they make an inaccurate assumption. If the assumption is too high, the retirement goal may seem unattainable and discourage the entire planning process. Too low, which is most often the case, you may run into financial difficulty at retirement and having to make drastic and unwilling changes.

The rule of thumb is to figure that you will need about two-third (67%) of your last drawn salary as income in retirement. However, keep in mind that retirees spend more on travel, entertainment and eating out especially earlier on in retirement when they have the time and good health to enjoy those activities. In their later years, health care cost can escalate. Make sure you factor in all aspects of expenditure to ascertain the most accurate retirement income assumption possible.

Retirement planning mistake #5: Disregarding higher healthcare costs

One of the most overlooked areas of retirement planning is estimating what healthcare costs could be in retirement and including this in the calculation of income needs. Healthcare cost is a huge expenditure to plan for on top of normal living expenses. Unlike vacation, hobbies and entertainment expenses, medical expenses are non-discretionary. If you are sick or injured you need treatment.

In Malaysia, medical cost is increasing at the rate of between 10% and 15% every year and treatments of diseases and injuries that are usually inflicted on elderly patients don’t come cheap. So, having adequate reserves and a good medical coverage can be the difference between a comfortable retirement and one filled with challenges. Don’t wait till you are sick to get medical insurance coverage. It is also cheaper to get medical insurance at an early age.

Retirement planning mistake #6: No long-term care plan

Anyone who has cared for an aging parent would know the toll it can take on their loved ones and their savings. The time, energy and money needed to provide quality care can be staggering.

As life expectancy increases, Malaysians will likely be needing a stretched out period of long-term nursing care at the last stage of their lives. To avoid burdening family members with the hassle of caring for them, set aside additional provision for care facilities that can include nursing home, home care, dementia care and hospice care which can cost between RM1,000 and RM5,000 a month.

Retirement planning mistake #7: Not updating your retirement plan

As you journey through life to retirement, you will experience different events in different stages of your life be it in your 20s, 30s, 40s or 50s. These life events will impact your income and expenses, so it is imperative that your retirement plan is revisited every few years to take this into account. If your last retirement plan was done five years ago, prior to your child being born, your promotion, and your father needing nursing care, chances are your retirement is based on a lifestyle that is no longer relevant.

You should revisit your plan every three to five years, or as your life changes with a marriage or children, so adjustments can be made accordingly. By making these adjustments often, you’ll stay on track for a better retirement.

Conclusion

There’s no doubt that many people make the mistake of not taking retirement planning seriously enough. They are likely to spend more time and interest planning and researching on a vacation, buying a new house or funding their children’s education. However, they say there are three things you can’t avoid in life – taxes, death and retirement. Hence, getting educated and securing your retirement plan is not an option.

You are betting a lifetime of work and savings with every decision you make so hopefully learning these retirement planning mistakes can help you to avoid missteps and able you to navigate these waters effectively and with confidence.

 8)
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on March 13, 2016, 12:07:42 AM
How to handle your retirement planning

THEY say “Life is a marathon, not a sprint.”

That saying actually applies to retirement planning as well. However, all too often we race through the nitty-gritty details of our finances and neglect to focus on crucial elements especially on saving for retirement long before those golden years approach.

Sure, we are overwhelmed by the idea of trying to save because of the multitude of financial commitments. It’s no surprise that many a time people tell me they can’t afford to save. I tell them they can’t afford not to save for retirement. Here’s a decade-by-decade plan that will ensure you are on track for a more sustainable retirement.

20s: Now that you’re out of school, the world is full of discovery, adventure and opportunities for you. With your new found freedom, don’t get carried away and overstretch your paycheck on an expensive lifestyle. Trust me, there is no better time than now to lay a solid groundwork for a bright financial future and foundation for your golden years.

Retirement may seem a million years away but it is never too early to start saving. As time is on your side, even a small amount every month can add up to a big payoff at retirement. So don’t miss the unique opportunity to maximise the power of compounding.

It may seem like a Herculean task to set aside even a small sum of money. With a small salary, paying for daily living expenses, car and student loans and rent can be a chore. Even with these commitments, there are ways to help you start saving for retirement. The key is in proper budgeting.

Establish good money habits – create a budget and track your expenses. Then test it out for several month to make sure it is realistic and adjusting it along the way. Also, don’t spend beyond your means.

Tackle Credit Card Debt – Don’t use credit card unnecessarily and try to pay off the full amount monthly. Most folks don’t pay much attention to their credit card debt. By just making minimum payment monthly and letting the outstanding balance rollover on hefty interest, you lock yourself in perpetual debt.

Pay Student Loan – Under no circumstances should you fall behind on student loan payments. Be vigilant on monthly payment so you can clear your student loan as soon as possible and put it behind you.

Create Emergency Fund – While busy paring down your debt, don’t forget you should be building up an emergency fund. Ideally, you should aim to have six months of take-home pay but if it seems too lofty, start with one month and build from there.

Set aside Retirement Fund – Contribute a small percentage of your paycheque that you feel is reasonable. You can start with 5% contribution monthly then add 1% bi-yearly. If you earn a salary of RM2,000, the 5% is only RM100 a month, that works out to about RM3 a day which is very reasonable. While the amount may seem small, the magic is in the compounding process when your savings or investments help you earn interests over time. The longer you save and invest, the more interests you earn. One secret to discipline retirement saving is to have your savings taken automatically from your paycheque, or known as “Pay Yourself First”.

Meanwhile, don’t forget to take advantage of the Private Retirement Scheme (PRS) Youth Incentive. With this scheme, contributors aged 20 to 30 stand to receive a RM500 boost from the government towards their retirement savings if they contribute a minimum RM1,000 a year.

30s: During this decade, you likely have more money coming in than you did in your 20s, but that’s not a good reason to spend it. Your financial goals are likely to get a bit more complicated in your 30s. Many people are still paying off credit card debt and student loans, working on building emergency savings and kicking retirement savings into higher gear, while also saving for a house down payment and perhaps thinking about starting a family.

So how to juggle it all and still make your retirement plan work?

Here’s the analogy: If you try to fill too many buckets, none of them are going to get very full. So, prioritise on your three biggest goals. If you haven’t mastered the big three – paying off credit card debt, building an emergency fund and putting aside for your retirement savings – then those should automatically be your top priorities. Once you’ve addressed your basic financial security needs, you can start contributing to other goals like saving down payment for a house or kids’ education fund.

Continue to Hack Away Debt – You may have outstanding student loan left and credit card debt you are paring down. Try to wipe out all debts as soon as possible. Tackle debt that is most expensive first, meaning the highest-interest debt. However, if you have low-interest debt (below 3%) there is no need to rush paying off everything as you can free up cash for other goals that are more important and give higher returns.

Reassess Insurance Needs – Big life events – getting married, having kids, buying a house – can be trigger points for examining whether your insurance needs are being appropriately met. If you have dependents, securing life insurance now will help them maintain financial security should anything happen to you. Still being young and healthy, you should also look into getting medical insurance coverage now which will definitely come in handy during your retirement years.

Retirement Planning – If you have been setting aside about 5% of your salary for retirement savings in your 20s, in your 30s you should increase the percentage to about 10% or more. On top of that, consider adding some amount of your bonuses to your retirement savings as well. If you’ve been investing your retirement money in PRS, unit trusts, stocks, etc you can afford to choose more aggressive investments while you are young to bring bigger gains in the long run.

40s: You are approaching your peak earning years when it is essential to save money and make sure your investments are allocated properly. However, this decade can be challenging for people with families who must provide both aging parents and growing children. Whatever the challenges, make retirement savings a priority. With credit card debt and student loans paid off, that amount can be utilised to help build your children’s education fund. And as you make more, don’t forget to keep padding your emergency fund if possible.

Make Retirement Savings a Priority – If you have kids, you may feel compelled to put your retirement savings on hold in favour of saving for university tuition. But do remember this saying: “You can borrow for education but you can’t borrow for retirement.” With 10 to 20 years left to retirement, it is crucial to understand how much you should save for retirement. Sit down with a financial planner to go through your overall retirement goals and address the financial gaps. If there is shortfall, this is a great time to bump up your contributions and consider how you can pad your nest egg with freelance or consulting work on the side.

Focus Your Investments – 40s is typically your high-earning years, which makes it a good time to become more thoughtful about whether you are investing in the right way. It is important to invest with a purpose and goal, and invest with a time horizon and risk tolerance assigned to each goal. For example, if a portion of your portfolio is earmarked for kids’ education fund and they are 10 years away from starting college, consider investing in investments that are more conservative due to the short time horizon.

50s: Retirement is drawing closer. Your kids are probably graduating from university, if not already. They should be independent and free from your financial responsibility. By now, the mortgage that you took up in your 30s should be paid off soon. If not, focus on that to be one of the goals in your 50s as you definitely don’t want a big financial commitment to burden you in your retirement years. Your emergency fund is in place and debts all paid off. So, it is time to heave a big sigh of relief after decades and decades of planning. With most of your financial goals materialised, you can begin to cut yourself some slack to go on a dream vacation. But ensure that your retirement plan is still on track.

Turbo-charge Your Retirement Savings – If you have been setting aside about 10% of salary in your 20s and about 15% in your 40s for retirement, consider ramping up the percentage to 20%-25% or saving as aggressively as you can. This is to make up for years when you weren’t able to save enough.

Reducing Expenses – You might consider downgrading your lifestyle and get into the habit of living on a fixed income and saving the extra money. This helps one to get ready for managing spending in retirement.

Evaluate Your Retirement Plan – Review and update your retirement plan to make sure you know how much you should be saving and ensure your investment and asset allocation strategy is aligned with your goals. It’s also good time to shift your investment portfolio from growth to a combination of growth and income to reduce taking too much risk as retirement approaches.

Bulk Up Emergency Savings – As you get closer to retirement, ensure your emergency funds equal to one to two years of cash. This way, if an economic downturn hits the time you retire, you can just spend cash without liquidating your investments at a low.

The secret to long-term retirement planning is really quite simple – learning to budget early in life, sticking with it, saving aggressively during your peak earning years and investing your money wisely and diversely. If you adopt a marathon approach to retirement planning, it allows you to take a holistic view on your overall financial picture and see how decisions made in your 20s, 30s, 40s and 50s can impact your golden years.

 8)
Title: Re: Worrying On Retirement? You Should!
Post by: king on June 14, 2016, 07:20:49 AM



中马  2016年06月13日
60岁前退休 月存500恐不够

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60岁前退休 月存500恐不够
为了保障退休生活,大部分接受调查者较倾向于选择储蓄与购买保险来为退休前做准备。

「花钱如流水,省钱倍艰难」年代,绝大多数人面对薪资水平无长进,物价节节高涨的情况,《东方日报》的一项退休生活计划的民意调查显示,多达60%受访者希望能在60岁前告別职场,享受退休生活,惟多数受访者却面对储蓄少、花费多的情况,恐怕无法安心度过晚年。

针对为了保障退休生活,是否已著手进行退休理財规划,《东方日报》日前向南马区100名民眾展开一项问卷调查,结果发现多达60%受访者希望在60岁前退休,其中多数人仅靠储蓄作为退休保障,当中每月平均储蓄500令吉以下的受访者居多,佔44%。

上述问卷调查男女比例为52:48,当中87人来自城市,13人来自乡区。受访者的年龄层以20岁至29岁居多,佔有44%;其次是30-39岁的年龄层及其他。

80%储蓄保障未来


职场压力大,多数受访者皆想儘早享清福,提早退休过著自在日子。问卷调查结果显示,佔大部分的60%民眾希望,能如愿在60岁以前退休,25%希望能在50岁之前退休,只有少部分约3%的人,希望能够在40岁以前,告別职场。

为了保障未来的退休生活,大部分接受调查者较倾向于选择储蓄与购买保险来为退休前做准备,其中储蓄是绝大部分国人心中,保障未来退休计划的首选,共佔80%;其次是购买保险,约有69%;相较于储蓄和购买保险,购买信託基金及购置房地產佔较少的比率,分別是23%与18%。

虽大部分民眾希望能如愿的在60岁以前退休安度晚年,但在物价高涨的年代,花钱如流水,调查显示,多达44%的民眾储蓄仅在500令吉以下;37%的储蓄介于501令吉至1000令吉;16%储蓄介于1001令吉至2000令吉。

100名接受问卷调查者,每月平均储蓄佔收入的10至20%,人数约有43%;储蓄佔收入的20至30%者有37%。

大部分受访者每月平均开销是1001令吉至2000令吉佔有43%,19%受访者每月开销在500令吉以下,18%介于501令吉至1000令吉,至于每月开销达2001令吉至3000令吉者则有14%,开销达3000令吉以上佔有6%。

调查结果也显示,大部分接受调查者每月所需摊还的贷款金额是车贷与房贷,当中有58%每月必须缴付车贷,每月需缴付房贷的人则有47%。



担心投资回酬追不上通胀

接受调查问卷的陈佳明(52岁)专营车牌、名片及手工品如钥匙等製作工作,他受访时坦言,现今国內经济衰退加上令吉贬值及通货膨胀的情况加剧,在这种无形的压力下,他不敢去奢想什么退休的晚年生活。

他说,令吉贬值且各种货品价格飞涨,钱根本不够用,所以对于现在的工作他会一直做下去。「今天你投资了几万令吉的储蓄保险,10年后再把有关投资金额取出,已是今非昔比,在通货膨胀的压力下,10年后的几万令吉可能只能购买几样东西。」

他表示,虽然现在的工作收入可以供房贷及日常的开销,但除非有多余的钱財,否则退休两字,他是想也不敢想。

在麻坡四马路经营摩哆店的林盛濠(36岁)透露,他踏入社会工作后,就开始为退休做好准备,以期能在50岁以前退休。「我24岁出社会工作,每月会定期储蓄,我深信购置房地產、购买保险及储蓄能对未来有较好的保障,希望在退休后还能经营小生意,並做自己喜欢的事。」

对于购买信託基金来防老,他並没有多大的期望,他认为,基金风险高,反之,房地產或是保险就相对来说较有保障。「现今房屋价格持续看涨,因此若有房產还能收取租金来过活。」



趁早作退休准备 国人才能安享晚年

国人面临「收入少,物价高」的现象,若要在60岁以前退休,受访理財专家建议,国人趁早策划退休计划,作好充足准备,方能安心度过晚年退休生活。

针对多达60%受访者希望在60岁前退休,44%受访者每月储蓄500令吉以下,金融策划师胡光辉受访时坦言,通货膨胀迅速的时代,人们若想在60岁以前退休,是异常困难,国人必须尽快规划好自己的退休计划,以让晚年无忧。

「通货膨胀的关係,人们若要在20年后退休,届时的生活基本开销保守估计將会是如今的3倍,所以现在国人自认为自己的储蓄足够应付退休后的开销,但到了60岁后,才会发现其实根本不足够。」

他说,最基本的退休计划,便是储蓄,只要拥有非常充足的储蓄,人们才能应付退休后的生活开销,因此储蓄需越早进行越好,这样人们才能达到目標安度晚年。此外,还清本身所欠的贷款也是其中一种储蓄方式。

退休前还清贷款

他劝请,国人最好是在退休前还清贷款,现在开始每月多还一些,就能减少贷款期限,尽早把贷款还清,无形中会使个人资產增加,就能减低年老时健康出问题,无法负担贷款的风险,这就是所谓的风险管理(risk management)。

胡光辉也表示,除了储蓄及还清贷款外,国人可以购买定期保险(Term life insurance),因为这类保险比起其他保险来说得较为经济,並且能够以最少的金钱,来换取自身最大的保障。

「若本身购置房產作为退休保障会更好,但前提是最好在退休前把房贷还清,日后能通过房子增值,把退休后的財务风险降到最低,一旦面临紧急状况的时候,还能把房子脱售来应急。」

单靠储蓄难保障生活 善用管道进行投资

理財顾问翁雪妮分析,假设一个人平均每月收入4000-5000令吉,储蓄佔收入的10-20%,在没有任何贷款的情况下,最少得要65岁才能退休。

「由此可见,以现今国人的收入及储蓄来看,60岁以前能够退休是非常困难。」

应定期存款

她说,风险管理是退休计划中最重要的一环,可以通过保险等方式来转移退休后的贷款或健康问题等风险,才能使退休生活获得保障;第二重要的是储蓄,国人应定期存款,这样才能应付退休后无收入的日常开销。

「第三是善用投资管道,马来西亚的市场不稳定,所以在投资方面必须谨慎,我个人建议,从可以承担风险的角度来进行投资,並且投资的回报率必须高于8%。另外,任何投资必须以风险管理以及储蓄为前提,若把所有收入拿来进行投资,將会面临极大的风险。」

热爱工作 不退休坚守岗位

现代人生活费高涨、寿命延长及职场压力大,促使人们为自己的晚年退休生活感到茫然,但有人选择坚守岗位到人生最后一刻。

一些热爱工作者不急于退休,希望自己能够继续在职场上发光发热,以让晚年还有资金能继续支撑生活。

义齿製作师谢金平(72岁)步入古稀之年,从事配製义齿工作已有50年的他,曾于2008年一度想要退休,却忧虑在退休后,在家会无所事事,因而打消了这个念头。

他说,他坚守「人不能不工作」的信念,所以即使迈入退休年龄,依然继续坚守岗位继续工作。

对于退休后的规划,他表示,目前义齿製作的工作收入已能让他应付生活开销,往后也有足够的准备来应付,譬如购买保险与房產
Title: Re: Worrying On Retirement? You Should!
Post by: Fortuner on July 04, 2016, 02:56:56 PM
Scare retirement fund for what?
U never know how long u r going to live.
Mayb tmr kena accident?
Mayb tmr kena terminally ill disease?
Mayb tmr kena toto?

Worry so much, life is impermanent. Live ur live today, let tomorrow take care of himself!
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on July 13, 2016, 01:08:01 AM
10 retirement decisions you will regret forever


As more and more baby boomers start eyeing the coastline of retirement, thoughts turn from the daily worry over the Monday-through-Friday commute to concerns about how to fund the golden years.

How prepared are you? Do you know the ins and outs of your pension (if you're lucky enough to have one)? How about your 401(k), IRA and other retirement accounts that make up your nest egg? Do you have a good handle on when to claim Social Security benefits? These are some of the questions you will have to contemplate as the work days wind down. But long before you punch out, make sure you are making the right choices.

To help you out, we've compiled a list of retirement decisions some of you may regret forever. Take a look to see if any sound familiar.

Many baby boomers like me have every intention of staying on the job until 70, either because we want to, we have to, or we desire to maximize our Social Security checks. But that plan could backfire. You could be forced to retire early for any number of reasons.

Consider this: One in four U.S. workers expects to work beyond age 70 to make ends meet, according to a recent Willis Towers Watson survey. Yet, you can't count on being able to bring in a paycheck if you need it. While 51% of workers expect to continue working some in retirement, found a separate 2015 survey from the Transamerica Center for Retirement Studies, only 6% of actual retirees report working in retirement as a source of income.

Whether you work is not always up to you. Three out of five retirees left the workforce earlier than planned, according to Transamerica. Of those, 66% did so because of employment-related issues, including organizational changes at their companies, losing their jobs and taking buyouts. Health-related issues--either their own ill health or that of a loved one--was cited by 37%.

The actionable advice: Assume the worst, and save early and often.

The single biggest financial regret of Americans surveyed by Bankrate was waiting too long to start saving for retirement. Not surprisingly, respondents 50 and older expressed this regret at a much higher rate than younger respondents.

"Many people do not start to aggressively save for retirement until they reach their 40s or 50s,'' says Ajay Kaisth, a certified financial planner with KAI Advisors in Princeton Junction, N.J. "The good news for these investors is that they may still have enough time to change their savings behavior and achieve their goals, but they will need to take action quickly and be extremely disciplined about their savings."

Morningstar calculated how much you need to sock away monthly to reach the magic number of $1 million saved by age 65. Assuming a 7% annual rate of return, you'd need to save $381 a month if you start at age 25; $820 monthly, starting at 35; $1,920, starting at 45; and $5,778, starting at 55.

Uncle Sam offers incentives to procrastinators. Once you turn 50, you can start making catch-up contributions to your retirement accounts. In 2016, that means older savers can contribute an extra $6,000 to a 401(k) on top of the standard $18,000. The catch-up amount for IRAs is $1,000 on top of the standard $5,500.

You're entitled to start taking retirement benefits at 62, but you probably shouldn't. Most financial planners recommend waiting at least until your full retirement age - currently 66 and gradually rising to 67 for those born after 1959 - before tapping Social Security. Waiting until 70 can be even better.

Let's say your full retirement age, the point at which you would receive 100% of your benefit amount, is 66. If you claim at 62, your monthly check will be reduced by 25% for the rest of your life. But hold off until age 70 and you'll get a 32% boost in benefits - 8% a year for four years - thanks to delayed retirement credits. (Claiming strategies can differ for couples, widows and divorced spouses.)

"If you can live off your portfolio for a few years to delay claiming, do so," says Natalie Colley, a financial analyst at Francis Financial in New York City. "Where else will you get guaranteed returns of 8% from the market?" Alternatively, stay on the job longer, if feasible, or start a side gig to help bridge the financial gap. There are plenty of interesting ways to earn extra cash these days.

Taking a loan from your 401(k) retirement-savings account can be tempting. After all, it's your money. As long as your plan sponsor permits borrowing, you'll usually have five years to pay it back with interest.

But short of an emergency, tapping your 401(k) is a bad idea for many reasons. According to John Sweeney, executive vice president for retirement and investment strategies at Fidelity Investments, you're likely to reduce or suspend new contributions during the period you're repaying the loan. That means you're short-changing your retirement account for months or even years and sacrificing employer matches. You're also missing out on the investment growth from the missed contributions and the cash that was borrowed.

Keep in mind, too, that you'll be paying the interest on that 401(k) loan with after-tax dollars -- then paying taxes on those funds again when retirement rolls around. And if you leave your job, the loan usually must be paid back within 60 days. Otherwise, it's considered a distribution and taxed as income.

Before borrowing from a 401(k), explore other loan options. College tuition, for instance, can be covered with student loans and PLUS loans for parents. Major home repairs can be financed with a home-equity line of credit.

My parents are in their mid-80s and have been living in the same house for decades. Over the past couple of years they have started getting rid of all the bric-a-brac they've accumulated. Their goal is either to sell and move into a retirement community or, at the least, make it easier for my brother and I down the road when we inherit the home.

There hasn't been much junk among the items they've parted with save for the wall clock they gave me and swore it worked (it doesn't). But there were also items my father wisely ran past his lawyer before dumping: Bookkeeping records from the business he owned for years. He was cleared.

Still, that's fair warning: Be careful about what you throw out in haste. Sentimental value aside, certain professionals including doctors, dentists, lawyers and accountants can be required by state law to retain records for years after retirement. As for tax records, the IRS generally has three years to initiate an audit, but you might want to hold on to certain records including your actual returns indefinitely. Same goes for records related to the purchase and capital improvement of your home; purchases of stocks and funds in taxable investment accounts; and contributions to retirement accounts (in particular nondeductible IRA contributions reported on IRS Form 8606). All can be used to determine the correct tax basis on assets to avoid paying more in taxes than you owe.

Sure, you want your children to have the best -- best education, best wedding, best everything. And if you can afford it, by all means open your wallet. But footing the bill for private tuition and lavish nuptials at the expense of your own retirement savings could come back to haunt all of you.

"You cannot borrow for your retirement living,'' says Joe Ready, executive vice president of Wells Fargo Institutional Retirement and Trust. "[But] you may have other avenues beyond [borrowing from] your 401(k) plan to help fund a child's education." Instead, Ready says parents and their kids should explore scholarships, grants, student loans and less expensive in-state schools in lieu of raiding the retirement nest egg. Another money-saving recommendation: community college for two years followed by a transfer to a four-year college. (There are many smart ways to save on weddings, too.)

No one plans to go broke in retirement, but it can happen for many reasons. One of the biggest reasons, of course, is not saving enough to begin with. If you're not prudent now, you might end up being the one moving into your kid's basement later.

Shying away from stocks because they seem too risky is one of the biggest mistakes investors make when saving for retirement. True, the market has plenty of ups and downs, but since 1926 stocks have returned an average of about 10% a year. Bonds, CDs, bank accounts and mattresses don't come close.

"Conventional wisdom may indicate the stock market is 'risky' and therefore should be avoided if your goal is to keep your money safe," says Elizabeth Muldowney Samuelson, a financial adviser with Savant Capital Management in Rockford, Ill. "However, this comes at the expense of low returns and, in fact, you have not eliminated your risk by avoiding the stock market, but rather shifted your risk to the possibility of your money not keeping up with inflation."

While there are no guarantees when it comes to stocks, you can lessen the likelihood of taking a big hit. Diversification is the key. Keep your money in a mix of large, small, domestic and foreign stocks. We favor low-cost mutual funds and exchange-traded funds because they offer an affordable way to own a piece of hundreds or even thousands of companies without having to buy individual stocks. If you aren't comfortable picking your own funds, hire a financial adviser to help.

And don't even think about retiring your stock portfolio once you reach retirement age, says Sweeney, of Fidelity Investments. Nest eggs need to keep growing to finance a retirement that might last 30 years. You do, however, need to ratchet down risk as you age by gradually reducing your exposure to stocks.

It's easy to see the appeal of a time-share during retirement. Now that you're free from the 9-to-5 grind, you can visit a favorite vacation spot more frequently. And if you get bored, simply swap for slots at other destinations within the time-share network. Great deal, right? Not always.

Buyers who don't grasp the full financial implications of a time-share can quickly come to regret the purchase. In addition to thousands paid upfront, maintenance fees average upward of $660 a year, and special assessments can be levied for major renovations. There are also travel costs, which run high to vacation hotspots such as Hawaii, Mexico or the Bahamas.

And good luck if you develop buyer's remorse. The real estate market is flush with used time-shares, which means you probably won't get the price you want for yours - if you can sell it at all, says Ron Kelemen, a Salem, Ore.-based financial planner. Even if you do find a potential buyer, beware: The time-share market is rife with scammers.

Experts advise owners first to contact their time-share management company about resale options. If that leads nowhere, list your time-share for sale or rent on established websites such as www.redweek.com and www.tug2.net. Alternatively, hire a reputable broker. The Licensed Timeshare Resale Brokers Association has an online directory of its members. If all else fails look into donating your time-share to charity for the tax write-off.

Hard work, careful planning and decades' worth of wealth-building are the foundations for achieving financial security in retirement. There are no short cuts. Yet, in 2015 Americans lost $765 million to get-rich-quick and other scams, according to the FTC. Of the more than 3 million complaints received last year, 37% were filed by victims ages 60 and over.

The South Carolina Attorney General's office and the FTC offer tips for spotting too-good-to-be-true offers. Tell-tale signs include guarantees of spectacular profits in a short time frame without risk; requests to wire money or pay a fee before you can receive a prize; or unnecessary demands to provide bank account and credit card numbers, Social Security numbers or other sensitive financial information. Also be wary of - in fact, run away from - anyone pressuring you to make an immediate decision or discouraging you from getting advice from an impartial third party.

What do you do if you suspect a scam? The FTC advises running the company or product name, along with "review," "complaint" or "scam," through Google or another search engine. You can also check with your local consumer protection office or your state attorney general to see if they've fielded any complaints. If they have, add yours to the list. Be sure to file a complaint with the FTC, too.

The lure of warmer climates has long been the siren call of many who are approaching retirement. So you're cooking up a plan to head south to Florida or one of the many other  great places to retire if you hate the cold. Our best advice: Test the waters before you make a permanent move.

Too many folks have trudged off willy-nilly to what they thought was a dream destination only to find that it's more akin to a nightmare. The pace of life is too slow, everyone is a stranger, and endless rounds of golf and walks on the beach grow tiresome. Well before your retirement date, spend extended vacation time in your anointed destination to get a feel for the people and lifestyle. This is especially true if you're thinking about  retiring overseas, where new languages, laws and customs can overwhelm even the hardiest retirees.

Once you do make the plunge, consider renting before buying. A couple I know retired and circled Savannah, Ga., for their retirement nest. But wisely, as it turned out, they decided to lease an apartment downtown for a year before building or buying a new home in the suburbs. Turns out the Deep South didn't suit their Northern Virginia get-it-done-now temperament. They are instead thinking of joining the ranks of "halfback retirees" - people who head south, find they don't like it, and move halfway back toward their former home up north.

 8)
Title: Re: Worrying On Retirement? You Should!
Post by: king on July 28, 2016, 07:17:44 AM



Wednesday, 27 July 2016
Smart way to retire comfortably

BY GRACE CHEN







 Ong explaining to the audience on saving for retirement at Menara Star Petaling Jaya.
Ong explaining to the audience on saving for retirement at Menara Star Petaling Jaya.
 
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Only 21% of us are financially prepared to retire. The rest may not have enough funds to continue to live the way they do after 60 when full-time employment ends, says Private Pension Administrator (PPA) chief executive officer Datuk Steve Ong.

“To most of us, retirement means finally having time for family and a chance to pursue one’s hobbies and interests.

“But when you retire, you also stop working and that means you will no longer be earning,” said Ong at a talk at Menara Star, Petaling Jaya.

The talk, titled “Take Charge of Your Retirement Now” was organised by Star Media Group and presented by PPA and Kenanga Investors.

Common sense should have rightly prompted the building of a nest egg but consumptive behaviour has taken over the virtues of thrift and conservation.

“They assume their Employees’ Provident Fund (EPF) savings will be enough or their children will care for them,” said Ong.

Lucky draw winners at the talk with Ong and the rest of the audience.
Lucky draw winners at the talk with Ong and the rest of the audience.
One of the worst cases he has seen of what can happen to the elderly who had to depend on others for financial support is being abandoned by their children to beg on the streets.

“There is a difference between being young and broke and being old and broke,” warned Ong.

“I have people saying they are fully maxed out with monthly payments and cannot afford to put any money aside for their retirement. But they forget about their yearly increments and bonuses.

“Instead of spending more, this is extra money that can be saved,” said Ong.

Stressing the importance of savings for old age, Ong said retirement schemes started gaining prominence a decade ago when the ETP (economic transformation programme) revealed that solutions had to be found for our ageing population’s healthcare and wellbeing.

“We need people to take active responsibility instead of just assuming their EPF contributions would be enough.

“Sadly, people usually exhaust their EPF savings within five years,” said Ong.

The best way to save for one’s retirement is to start now and to do it regularly, he added.

For adequate retirement income, a conservative projection is a minimum of one-third of one’s monthly pay now to replace two-thirds of the last drawn pay at retirement.

The good news is that if you are an EPF contributor, you are saving at least 23% for your retirement.

However, there is still a shortage of 10% from the minimum 33% of monthly savings to build a retirement nest egg.

One way to complement this is through the private retirement scheme (PRS), a voluntary savings and investment scheme introduced in Malaysia in 2012.

PRS makes up the third pillar of Malaysia’s multi-pillar pension framework and providing the central administration is the PPA.

The end of the talk saw four lucky participants walking away with a contribution of RM500 each presented by Kenanga, a PRS provider.

For more information, log on to www.ppa.my
Title: Re: Worrying On Retirement? You Should!
Post by: king on August 02, 2016, 02:35:00 PM



Study: Malaysian pre-retirees expect four years’ more savings than predecessors
Tuesday August 2, 2016
01:13 PM GMT+8

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Based on the views of over 1,000 people in Malaysia, the current generation of retirees started saving for their retirement at 33 and retired at 56, saving for an average period of 23 years. — File pic
Based on the views of over 1,000 people in Malaysia, the current generation of retirees started saving for their retirement at 33 and retired at 56, saving for an average period of 23 years. — File pic
KUALA LUMPUR, Aug 2 — Pre-retirees in Malaysia now expect to save for four years longer than their predecessors for their retirement, according to new research from HSBC.

Based on the views of over 1,000 people in Malaysia, the current generation of retirees started saving for their retirement at 33 and retired at 56, saving for an average period of 23 years, HSBC said in a statement today.

However, the report shows that working-age people in Malaysia now begin to save four years earlier, at age 29, but expect to retire like their predecessors at 56, meaning they face on average 27 years of retirement saving — four years more than current retirees.

According to the research, the gap is most marked in China (14 years), the United Arab Emirates (12 years), Australia (11 years) and France (11 years), where working people now expect to save for more than a decade longer than current retirees did.

"Despite beginning to save for retirement earlier, many working-age people still don’t think they are saving enough," it said.

Over two in five (44 per cent) retirees would have started saving for retirement at an earlier age given the opportunity to do something differently and over half (53 per cent) of pre-retirees would do the same.

HSBC’s report also uncovers that almost one in six pre-retirees (15 per cent) have not started saving for their retirement — that means 85 per cent of working-age people in Malaysia have started saving for retirement.

Of those who have started, 44 per cent have either stopped or faced difficulties, it said.

Pre-retirees around the world have different approaches towards how they will fund their retirement and the expectations of pre-retirees differ from the reality experienced by retirees.

Cash savings/deposits (50 per cent) are the most common funding method for retirees.

Fewer pre-retirees expect another employer pension scheme (12 per cent) or stocks and shares (17 per cent) to help fund their retirement.

The report, Generations and Journeys, is the latest in HSBC’s long-running 'The Future of Retirement' series. — Bernama

- See more at: http://www.themalaymailonline.com/malaysia/article/study-malaysian-pre-retirees-expect-four-years-more-savings-than-predecesso#sthash.sDVAKO8t.dpuf
Title: Re: Worrying On Retirement? You Should!
Post by: king on August 03, 2016, 07:07:52 AM



汇丰:平均长达27年
退休储蓄须提早4年
217点看 2016年8月2日
(八打灵再也2日讯)汇丰银行(HSBC)未来退休全球报告指出,未退休的大马人如今预计需比已退休者多储蓄4年,才能“舒适地”退休。

该银行名为“时代及路程,未来退休”系列研究报告说,打工一族在“省钱供退休”一事上,比以往面对更大压力。


调查提到,约六分之一(15%)未退休者还没开始储蓄,这也说明了约85%大马打工一族开始为了退休而储蓄,但当中有44%的人已停止储蓄或面临困难。

根据当局对约1000名国人进行访问式调查,当前退休者是在33岁开始为退休生涯储蓄,并于56岁起退休,平均总共储蓄了23年。

“大马就业人士如今却提早4年为退休做好准备,即从29岁起开始储蓄以便在56岁退休,换言之,他们需努力储蓄27年,比当前退休者的储蓄时间多了4年。”

中国人储蓄时间提早14年

根据调查,该储蓄时间“差距”最大的其他国家人民,依序为中国(提早14年)、阿拉伯联合酋长国(12年)、澳洲(11年)及法国(11年)。

印尼是唯一当前退休者和就业人士储蓄时间相同的国家。

调查说,尽管为了退休目的而提早储蓄,很多人仍不觉得本身储蓄足够。

若再有机会,44%退休人士希望把储蓄年份提早,过半(53%)未退休者也是这么想。

若能回首过去,31%退休人士会在较早期就开始为退休储蓄,而38%未退休者在退休前则会做不同的事。

此现象最常出现在台湾(51%)、印尼(47%)及大马(44%)的退休人士。

相比策略计划者(27%),长期储蓄的退休人士很可能会希望早些储蓄(41%)。

有些人则对他们的退休计划感到满意。

31%退休人士及22%未退休者说,将不会做任何更动。

此现象最常出现在埃及(50%)、法国(48%)及英国(46%)。


现金存钱最常见

汇丰银行未来退休全球报告说,现金储蓄/存款是退休者最常见的存钱方式,这么做的人达50%。

少部分未退休者分别希望通过雇主养老金计划(12%)或股票与股份(17%)来增加退休金;持同样想法的已退休者在这方面的比率各别为29及36%。

比起11%的已退休者,有更多未退休者(22%)期待善用个人养老金。

反之,22%未退休者预期动用个人退休金(相比已退休者为11%)、27%未退休者预期动用特定供款期限的雇主退休金(已退休者为17%),以及24%未退休者预期在退休后在某种程度上继续工作(已退休者为15%)。报告也显示,只有7%的大马已退休人士期望使用国家退休基金来养老,反之这方面,全球的平均率高达45%。


传统储蓄方式不足够

在我国,14%退休者指其儿女的财务支持协助他们增加退休储蓄,另有12%未退休者认同这说法。

大马汇丰银行零售银行与财务管理主管林永祥说,人们意识到随着寿命延长,传统方式不足以应付退休生活,他们需比上一代更提早储蓄,并考虑采纳能增加退休额的替代方式。

“为退休而储蓄的重要性毋庸置疑,我国670万名雇员公积金局活跃会员中,只有22%的人士在54岁有19万6800令吉或以上的足够退休金来维持生计。”

汇丰银行提出能改善国人退休财务情况的四大方法

·计划退休时需考量所有退休费用,列明所有可能的退休支出。

·更早开始储蓄计划,以便储蓄更多钱及有良好增长。

·通过各管道寻求意见,并确保这些意见专业。

·当储蓄陷困,需有金融跌宕起伏的心里准备,检查所有资金情况及寻求替代方式以延续达致舒适退休生活的目标。

退休储蓄差距

平均而言,未退休者平均储蓄30年,对比目前已退休者的23年储蓄期,较长7年。

退休人士开始储蓄的平均年龄为35,而他们在58岁退休。

为退休者在30岁时开始储蓄,并预计工作至60岁。

在中国,退休人士和未退休者最大的差别是,工作人士预计可比退休人士多储蓄14年。

退休人士开始储蓄的平均年龄为46岁,而他们在55岁退休,平均储蓄9年。

相比之下,未
Title: Re: Worrying On Retirement? You Should!
Post by: king on August 08, 2016, 07:38:31 AM



2016-08-07 19:28
退休金“越存越少”
由于超低利率环境,全球都面临“退休金危机”,现在退休的人比2000年退休者少拿一半退休金。
由于超低利率环境,全球都面临“退休金危机”,现在退休的人比2000年退休者少拿一半退休金。

广告

经济合作发展组织(OECD)早前一份报告指出,40年前开始固定将薪水10%存入退休金个人账户、现在退休的人,能拿到的退休金,是存了相同数额的钱、却在2000年退休者的一半。

利率超低
全球面临退休金危机

这份报告分析的是退休金方案中的“确定提拨制”,这是指在劳工工作阶段,雇主、劳工或两者每年或每月提拨固定数额的退休准备金,存入劳工退休金个人专户,这些准备金委由专户管理人投资,或由劳工自选投资工具,劳工退休时能领多少,完全由提拨总金额和投资绩效决定。

这份报告凸显许多提供退休金的机构在这低经济成长、低通膨环境下面临的挑战。

OECD说,全球退休预备金约有四成用于固定收益证券,包括低收益公债。“我们处在超低利率环境里已有5年多,这意味着如果有人一直把钱存入退休预备金账户,或自行储蓄退休金,他的退休金总值会是2000年退休者的一半。”

广告

英国金融服务公司“哈格瑞夫斯.兰登”退休金研究部主任麦菲尔说,OECD的发现与该公司研究结果一致,他说,目前正在存退休金的这个世代,面临的挑战比战后婴儿潮世代大得多,更年轻的世代挑战更艰钜。

文章来源:
星洲日报‧投资致富‧万花筒‧2016.08.07
Title: Re: Worrying On Retirement? You Should!
Post by: king on August 10, 2016, 07:32:39 PM



Bank Negara: 92pc of Malaysians worried over retirement savings
Published: August 10, 2016 06:40 PM GMT+8

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Chew stressed that most Malaysians adopt a passive strategy for retirement, with 42 per cent preferring to buy properties, 25 per cent opting to save money in the bank and 18 per cent depending on the Employee Provident Fund (EPF). — Reuters pic
Chew stressed that most Malaysians adopt a passive strategy for retirement, with 42 per cent preferring to buy properties, 25 per cent opting to save money in the bank and 18 per cent depending on the Employee Provident Fund (EPF). — Reuters pic
KUALA LUMPUR, Aug 10 ― Bank Negara Malaysia (BNM) revealed today that up to 92 per cent of Malaysians worry over their financial health and needs at old age as well as being unprepared for retirement.

BNM Assistant Governor Jessica Chew Cheng Lian said 33 per cent are 'very worried' about their financial health when they get old, while the remaining 59 per cent are 'a bit worried'.

Speaking at a panel session themed "Your Retirement Aspiration: Making It A Reality" at the International Social Security Conference 2016 here today, she pointed out that 40 per cent of Malaysians say they are ready for retirement while 80 per cent claim they have the strategies to meet expenses at old age.

The most popular strategies include relying on the children or partner, continuing working, and relying on government financial assistance.

Chew stressed that most Malaysians adopt a passive strategy for retirement, with 42 per cent preferring to buy properties, 25 per cent opting to save money in the bank and 18 per cent depending on the Employee Provident Fund (EPF).


She noted that only 24,180 insurance policies with annual premiums of RM280.2 million have been sold since tax incentives were introduced in 2012.

To re-shape the reality among Malaysians, Chew said awareness has been raised through the integration of financial education into formal school curricula for pupils from standard four to six.

"We have also established a financial education network to coordinate and drive financial education initiatives at international level," she said.

Chew said BNM has also introduced diversified and innovative pension products to help individuals manage the risk of retirement.

She said prospective retirees' other strategies include improving the incentive structure, such as by encouraging a greater role for employers in providing voluntary occupational pension plans, as well as incentivising income drawdown to avoid premature depletion of savings.

According to Malaysian Healthy Ageing Society Advisor Nathan Vytialingam, men aged between 65 and 74 are considered young-old, those aged between 75 and 84 are middle-old, while those aged above 85 are old-old. ― Bernama

- See more at: http://m.themalaymailonline.com/malaysia/article/bank-negara-92pc-of-malaysians-worried-over-retirement-savings#sthash.Bpp13erl.dpuf
Title: Re: Worrying On Retirement? You Should!
Post by: king on August 11, 2016, 07:17:07 AM



中马  2016年08月10日
大马人口老化 退休生活须正视

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(吉隆坡10日讯)僱员公积金局主席丹斯里三苏丁奥斯曼指出,人口老龄化是大马即將面对的问题,如何维持退休后生活应该受到极大重视。

三苏丁奥斯曼指出,大马人的预期寿命增加,男性平均寿命为74岁,女性则为76岁。比方说,大马人活到80岁,如果他们在55岁时取出公积金储蓄,接下来的20年后他们要怎么去维持生活,这不仅仅是公积金局需要考虑的问题,而是一个社会问题,值得大家关注。

他说,公积金局推出的退休諮询服务提供长期免费计划,帮助会员实现退休后可继续维持生活,全国主要公积金局分行都有该项服务,有认证的財务顾问为会员提供退休財务规划。

设社会保障委会


他指出,根据联合国报告,到了2030年大马將是人口老龄化的国家,60岁或以上的人口佔14%,相等於520万人。到时候,人口老龄化將会加速,隨后15年內,將是超级老龄化社会,有21%的人口超过60岁。

三苏丁奥斯曼强调,中青年人口比重不高,加上60岁的低退休年龄,將给政府的財政成本带来挑战,用於社会保障的津贴更为沉重,特別是医疗和保健领域。

他建议,政府应该设立一个社会保障委员会来处理人口老龄化问题,这一委员应得到各个政府机构合作,包括財政部和经济策划单位。

他指出,有了这个平台,我们就能够了解大马面临的实际问题以及成本,然后出台一个整体性的保护计划。

三苏丁奥斯曼今日出席2016年国际社会保障会议时如是指出。这个一连两天的会议主要探討人口老龄化问题,由公积金局和美金融公司State Street合作举办。

另一方面,公积金局文告指出,今天截至下午4时45分共有3万8613名会员將公积金户口转为伊斯兰户头。

该局说,星期一(8日)共有4万1583会员登记更改户头,星期二则有4万6686会员登记,预计註册伊斯兰户头的人数会不断增加。公积金局目前共有1445万会员。
Title: Re: Worrying On Retirement? You Should!
Post by: king on August 18, 2016, 02:27:33 PM



低息时代部署退休生活/陈金阙
819点看 2016年8月16日
上周提到的退休消费和退休前收入比例,有读者问:那个35% 至5-60%的比例和收入是什么关系?简单来说,是退休前收入越高,退休后维持的生活消费比例越低。

比如说,如果一个人目前的日常消费是每个月3000令吉,那么,如果他是高收入者(月入1万令吉),那么,他的退休生活开销大体上占了收入的30%比例;如果他的收入只有5000令吉,那么,这个比例是60%。


当然,收入高者如果可以把其收入的60%当作退休存款会更好。

积谷防饥,谷粮存越多越好。

迷思之二:退休后不可以做高风险投资。回顾我们之前的文章,我们可以发现到在7-90年代,退休人士的确是不需要进行高风险投资,因为只是定期存款的利率已有7至8.5%了,何须高风险来达致高回酬?

不过,时代变迁,我们还没有进入先进国,却已经一步踏进低利率时代。

定期存款利息维持在3至4%,代表我们的退休存款必须比7-90年代更高,不然我们的日常花费将会出现问题。

举例来说,如果退休人士的一年消费是3万6000令吉,时光倒流回去1980年,定期存款利息的8%时,我们只要有一笔退休金额45万令吉,每年的利息就等于所需的3万6000令吉。

但是,今时今日,以较保守的3%利息来计算,我们的退休金要有120万令吉,才足够每年开销。


我们必须趁自己还没有退休之前,多了解各种投资产品。

驾驭风险战胜市场

我们且不采用城市的通货膨胀率高达5%的计算方式,因为如果这个数字一用上的话,我们的定存利率扣掉5%,将会是负利率。

这意味着我们存在银行的钱贬值得比我们收获的利息还快,长此下去,我们肯定钱越来越不够用。根据官方数据显示,近年的通货膨胀率处于2至2.5%左右,所以我们如果把退休金放在定存,多多少少还有些“盈余”。

多了解投资产品

但是,如果净回酬没办法达到4-6%,我们如履薄冰,不晓得什么时候用力过猛,整个人掉入冰河而没顶。

因此,我们必须趁自己还没有退休之前,多了解各种投资产品。生活在现代的其中一个好处,是我们更容易接触到许多金融产品,而且成本也比以前更低。

不过,如果没有花时间去了解的话,太多产品也容易让我们眼花缭乱,迷失方向。

但是,为了能更好的规划退休生活,我们没有办法,只有勇敢的面对风险,驾驭风险,从而获得理想的回酬。

投资产品如信托基金和股票,如果做足功课的话,回酬可以达到8-12%的平均年回酬,无疑是击败通胀(不管是2.5%还是5%通胀率)的好工具。

至于对房地产有研究的投资者,应该也可以达到此回酬,但是由于房产业多涉及贷款和杠杆,而随着退休年龄的接近,我们的贷款数额和年限也跟着下修,因此,这可能是喜好房地产者必须考虑的问题。


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Title: Re: Worrying On Retirement? You Should!
Post by: king on August 19, 2016, 07:24:54 AM



退休?至死方休!/南洋社论
185点看 2016年8月18日

南洋社论
买房?你就别想了,想想更迫切的问题吧——退休。

全球经济放缓,降息,你买不起房;经济复苏,升息,通货膨胀来临时,搞手再次出击弄个红红火火,你抵得过这股浪潮?(看看中国的情况吧)


而更火热得火烧屁股的是,退休问题。

悲哉——很多人不知道,退休金问题已经到了水淹眼眉的生死关头。

买房如果是两代人的事,退休在无声无息间,已经是你一生都不可能实现的非份之想。

申请把公积金缴纳率从11%降到8%的一半会员,已然“临老退不了休”,基本存款不足的78%会员,也必一生做牛做马做到死,不能退休。

这群体晚年肯定财困,晚景凄凉。打零工、低级公务员、失业大军呢?更甭说了,注定手停口停,一生劳碌命,捱捱捱……至死,方休。除非你从现在开始,把心一横,发奋图强,拼啦!

但,即使你豁出去,除非创业,这个年代,没人可保证你晚年无忧,尤其是政府。

种种迹象显示,政府的一套养老政策——全无用处。公积金局策略管理组主任芭卡依丝早前打开了潘朵拉宝盒(数据)证明了这点。

全国公共及民事职工总会主席阿兹慕达也看到当中危机,建议政府提高公务员退休金年龄至62岁,认为这符合我国迈向先进国宏愿,而且政府能够减少公务员退休金的开支。

其实,除了数目庞大的公务员,大部分(逾78%)的公积金会员都必须延后退休,不消三几年,即两袋清风,一贫如洗。

但政府首席秘书阿里韩沙还不愿正视眼下困境,“谈论此问题还言之过早,政府目前无意这样做”。更甭说内阁了。

大马的强制存款额虽然全球排名第五高,薪金架构问题,不能达到高数额存款。周二,德国央行(Bundesbank)表示,为了给父辈的养老金买单,德国年轻人需要工作的年头恐怕得比他们以前担心的还要长。

英国《金融时报》8月16日报道,德国政府已计划在不迟过2029年时把退休年龄推迟至67岁。但德国央行计算后表示,2029年后退休年龄还得再推迟两岁。目前的退休金年龄是65岁。

作为欧洲最大经济体,德国尚且认为该国退休问题严重,相比我国的60岁退休,65岁退休已经很老,还要推迟到67岁,退休金严重不足的大马人民,情何以堪?

德国央行甚至估算在不迟过2060年时再推迟两岁——69岁。意味着,眼下加入德国劳动力大军的25岁年轻人,将不得不比当前这批退休者多工作4年,到69岁才能退休。

德国央行在周一发布的最新月度公告中称:“总体上看,有证据表明,应当更多地考虑延长工作年头、提高法定退休年龄。”

德国是世界上老龄化速度最快的社会之一,经济学家对于德国如何覆盖退休者增多和劳动力市场萎缩造成的成本表示了担忧。

我国何尝不面对老龄化、生产力下降问题?退休金严重不足问题更是严峻、紧迫,尤其数目庞大的公务员体系,已达非大刀阔斧不可地步。

只要55岁还能全提公积金,明了不能安享晚年,谁会不要延长退休年龄?

“这是要‘做到死’的吗?”,是的,你说对了!


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Title: Re: Worrying On Retirement? You Should!
Post by: king on September 04, 2016, 09:11:17 PM



趁早规划,莫当退休逃兵/梁键铭
199点看 2016年9月4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
在从前的工业时代,我们的退休生活比较受到保障,因为雇主会以退休金方式来为退休员工提供收入,可能是最后收入的一半,或较高的退休金,意味着受雇人士不太需要为退休阶段感到忧虑。

这类型的退休体系,现在不至于完全绝迹,就以政府人员为例,若符合条件,还会享有类似福利。


这种退休体系,整体上我们称之为确定给付 (Defined Benefit)制的退休金体系,这意味着该名退休员工在退休后可以获得的利益已经确定,因此,退休员工不需要为自己的退休生活保障感到担心,因为已知道最低程度的退休金收入约多少。

今非昔比

在这种制度下,如果活太老也不会出现太大问题,因为退休金收入就好比一口深不见底的井,水源可以持续提供,源源不绝。

但是在现在的环境,大部分雇主已不需要担保退休员工退休后的收入,这样的制度称为确定拨发(Defined Contribution) 制度,意味着员工自己为退休金做出的贡献,到了退休后就从那笔退休金中提领,如果提完,就没有了。

全权自理

简单地说,从前,我们不需要为“退休”这两个字烦太多;现在的情况是退休后过得好或坏,或够不够用,都是自己的事情。

因此,不少退休的挑战和退休金不足的严重性就显得更加重要,从前是由雇主面对这些风险,现在我们不再有“靠山”,需要懂得照顾自己,为退休后的生活好坏,负上全部责任。


大马公积金活跃缴纳者当中的76%,每月收入少于3000令吉。

公积金活跃缴纳者76%月入少于3000

大马人民收入有很大的差距,这个问题使许多人发现退休后,沒有足夠的退休金來维持生活。

有关我国的退休金研究及数据统计显示,截至2014年9月,大马公积金活跃缴纳者当中的76%,每月收入少于3000令吉;而在众多54岁的公积金会员当中,居然有68%会员的公积金总存款数额低于5万令吉。

若是根据这样的情况,我们可以简单估计大部分公积金会员在退休后的20年中将会面临收入过低或沒有收入的严峻挑战,到后来被逼“逃离退休”重新回到职场上继续工作,或依靠子女的抚养及协助。

但是一个人退休几年后,迈入60多岁,想要重新工作,恐怕不是一件容易的事。

另外,如果说盼望子女们的奉养,有些人会开玩笑说:“子女没来要我帮忙就算很好了,那有可能奉养我们”,相信这说法也反映出我们逐渐明白这种传统型的退休收入保障,在这年代已不再实际?


退休金体系5根柱

在世界银行对于退休金体系的定义上,退休金体系可以分为5根支柱。

当然在人民立场,零的支柱是理想的,这就好比国家养我们,退休后可以每月无条件获得一笔退休金。

纵使我国拥有天然资源,但这样的福利在我国不太可能存有,而且到最后可能变成纳税人的压力。

我国的情况,从前仅有第二支柱,即强制性的退休金计划,也就是我们熟悉的公积金,而且这不只是强制受薪人士缴纳退休金,也强制雇主依照员工工资缴纳,这样可以提高员工为退休金做出储蓄的能力。

此外,我们也同时拥有属于志愿性的第4根支柱,公共医院及医疗服务就是一个例子。

第一个私人退休金从2012年10月推出以后,我们也从而拥有了这个退休金体系内的第三根支柱,这加强我国的退休金体系,以及提升社会面临退休生活的压力及挑战。

因此,比起一些国家,我们的退休金体系算得上是比上不足,比下有余。

最低薪金制 延退休年龄保障晚年生活

如果退休金体系基本上算完善,是什么问题出现退休金不足的矛盾情况呢?

之前提过其中一个可能的主要原因是,基于我国人民的收入差距,造成一部分人民的退休金存款异常低。

针对这个隐忧,政府实施了最低薪金制,求的就是让人民可以从最低强制收入中提供收入保障,好让他们有较高的能力为未来生活做出准备。

另外,政府也于2013年实行另一政策,即把原有55岁的法定退休年龄延长到60岁,以让更多人可以通过这额外的5年时间,多存一些钱在公积金,以及为退休生活做出更好的准备。

提款年龄或延长

由于人民基本上不太同意把公积金全数提款的年龄从55岁提升至60岁,因此暂时我们还可以在55岁时,把公积金内的存款全数提取出来。

如果在未来退休金不足的问题变得更加严重,个人觉得不排除这个提款的年龄会被延长。


做出准备降低破坏力

在这三个挑战中,如果要我选出哪一项最为关键及重要的问题,我也决定不了那一个比较重要,这三项对个人的退休生活及保障,都有着举足轻重的角色。

如果我们想要加强对这几项挑战的胜算,可以针对这三大挑战做出准备,以便降低破坏力。


私人退休金分两类

自私人退休金推出后,我们可以充分善用这个自愿性的退休金工具,来增加退休金,增强自己面临越活越老的人生。

私人退休金也可以让大家在为退休生活做储蓄的当儿,享有1年3000令吉的税务减免。

同时,私人退休金也让计划参与者自行根据自己的投资目标、风险承担程度、投资期限,以及资产分配政策,来决定私人退休金户头内所拥有的基金投资策略。

基本上,私人退休基金的基金选项可分为两大类别,即核心基金和非核心基金。

核心基金为8家私人退休基金提供公司必须提供的选项,计划参与者可依据风格,在保守型、稳健型以及成长型基金当中做出选择。

可接受默认选项功能

如果参与者不确定如何做出选择,可以放弃自我选择基金,接受该计划当中的默认选项功能,基金管理公司将会根据参与者的年龄来决定是否把资金存放在保守(50岁及以上)、稳健(40岁至50岁),或成长(40岁以下)类基金。

除了核心基金,还有非核心基金供选择,非核心基金是不需要根据核心基金的资产分配条例,可以是本地或离岸投资,遵从回教教义,或集中于某种领域的股票的基金。

简单来说,相对风险会比起核心基金稍高一些。

年轻人莫错失500元奖掖金

如果年龄层介于21至30岁,那么在2014至2018年12月31日前的这5年期间,其中一年内存入至少1000令吉在私人退休基金,就会获得500令吉的奖掖金。

这计划在2014年推行后,属于这年龄层的参与者激增20%,人数虽然激增,但是从政府所设下的2亿1000万令吉预算当中,至今年5月,其实只拨出约8%的奖掖金而已,可见还有不少人还没有开始行动,白白浪费这奖掖金。

有关健康及医疗费用的压力,我们可以通过一份合理的医药保险,让自己减低动用退休金来支付未来日益昂贵的医药费用。

当然若没有医药保险,我们还可以依靠公家医疗服务,这些都由个人的喜好来决定。

减低财富外流

投资时,也许人们会比较追寻客观的回酬率,但是无论你的投资为你赚取5%、10%,或15%年利都好,在做出一次性的投资与定期投资这两种方法之间,后者的户头通常都会比前者的有更高的款项,让我们的财富增加的最好方法莫过于继续把财富留住,同时减低财富往外流的机会。

在省下来与存下来的钱当中,存下来的钱才是属于我们的,省下来但却在后来被花掉的钱是他人的钱才对。

所以,年轻一代应该尽量在享受当下的同时,也努力把眼光放远,远至可以看见自己未来可能面对以上的退休三大挑战,提早做出准备,并乘机获得上述的奖掖金。

在公积金以外,可以增设另一个退休金,通过适当的保险规划,来保护自己的财产及财富,增强自己的能力,晚年也可以同样过得好,活得没烦恼。

Title: Re: Worrying On Retirement? You Should!
Post by: king on September 07, 2016, 02:24:49 PM



龙门阵  2016年09月06日 | 作者:第一天 | 专栏:观念平台
有钱没钱都要理財

之前有报导,指大马人大部分都喜欢把钱放在银行,而且有接近四成的人没有理財的习惯,其实这是否是事实呢?

让我们先瞭解下,什么是理財吧,或许很多人都对理財这个词有误解。以为理財是很专业的理財师独有的技巧,或者是有钱人的专利,自己不是有钱人,所以理財根本不关他们事,但这是否正確呢?这个就是我们大马人的理財盲点了。

理財,从字面上来说,就是管理你的钱財,而且这个是非常容易,大家都应该对理財有一点简单的想法,只是为何大部分人都理不清呢?这个其实是关係到本身的误解,一直认为理財非常复杂,从而不愿意去研究,才有这个情况出现,既然不会,就索性不理了。

理財对象不分贫富


实际上,无论是有钱或是无钱,不管是千万富翁还是街边乞丐,都是需要理財的。或许有人会说没钱要怎么理財呢?这个想法並没有错,而且也是普罗大眾的想法。但是如果我们想有钱,我们的想法就必须不一样,或许换个角度来看,你不理財,財不理你,不理財的话,你怎么有钱呢?

无钱人需要理財,那么有钱人应该不用理了吧?如果从已故的美国著名歌手迈克杰逊,在最风光的时候,身家数之不尽,一个月赚的钱可能就是你我幸苦一辈子都不可能赚得到,但是如果你有看新闻,就会发觉其晚期,挥霍无度、理財不当,欠债数亿,这个就是有钱人也需要理財的一个铁证。

看回大马,近年来政府很卖力推广理財投资的重要,而且可以看到许多年轻一代,或者城市地区的民眾,也开始了解理財或投资,这是值得欣慰的。只不过,社会也出了许多害群之马,试图通过一些非法的快速致富计划,来诈取民眾的钱財,因此打击了一些有兴趣理財投资者的信心,从而让许多人止步。

从日常生活开始

在这方面,政府確实可以加大力度去取缔,从而打击非法集团。然后再继续推广投资理財的重要,让更多非城市地区的人们,也能够明白投资理財的重要,双管齐下加速成事。不过,最重要还是人民本身的意识,自己愿意去瞭解学习才有用,因为决定权全部都是在自己的手里,尤其现在资讯发达的年代,有什么就可以直接上网问「谷歌」大神,就可以一一解答,最重要的是几乎所有的资讯都是免费的。

总的来说,理財很简单,其实只要从日常生活做起就好了,理財並不难,每个月获得薪金后,先擬定打算储蓄的部分,剩下的才拿去花费,这个其实就是理財的第一步,持之以恆后,慢慢你自会觉得整个人生变得不一样了,从今天开始,就让我们的人生变得不一样吧
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on September 17, 2016, 09:39:29 AM
Don’t ignore M’sia’s retirement crisis, says think tank

SUBANG JAYA: Malaysia will soon face a retirement crisis, according to social and economic thinktank Blindspot.
This is because more than half of its citizens do not have enough savings or no retirement savings at all, its co-founder Azlan Awang said.
Azlan said millions of Malaysians were in danger of not having enough money to maintain their current standard of living after retirement.
“The government should be looking into this issue. If the matter is left unchecked, it will only get worse.”
Azlan said the shortfall in savings could affect the national economy as the aged, who were increasing in number, would be forced to cut down on their consumption and depend fully or partially on their families.
Life expectancy in Malaysia has increased to 77.4 years for women and 72.5 years for men. This is a far cry from 1970 when life expectancy for women was 65.5 years and 61.6 years for men.
“We do not have social security, as practised in developed countries,” he told FMT.
Malaysia has a workforce of 14 million. Out of that, 6.5 million are Employees Provident Fund members. But 70 per cent of the members do not have enough savings for retirement.
The government employs 1.3 million people, who will receive life pension upon retirement.
“It shows the remainder, almost six million people, do not have any sort of retirement savings. What will happen to them?”
Azlan added that the figures for people not having retirement savings were increasing every year and that the majority of senior citizens were falling short in savings and would be below the poverty line.
The crux of the issue remains that Malaysians are being paid low wages, according to him.
He said this was where the seeds of the crisis were being planted.
“They don’t earn enough money to put away extra for later years. Malaysians are being paid low but are unable to raise the issue as only six per cent of Malaysians are in unions.”
In terms of gross domestic product (GDP), which is the monetary value of all the finished goods and services produced in a country within a specific time period, the wages to GDP ratio in Malaysia is 33 per cent.
“This means only 33 per cent goes towards wages of workers, while 67 per cent goes to companies as profits.
“In advanced countries, the distribution is almost reversed where 50 to 60 per cent of GDP goes towards wages and the remainder goes to the company as profits.”
Azlan said it showed capital owners in Malaysia could accumulate more money by paying lesser wages.
This was because Malaysian workers did not have bargaining powers similar to that possessed by workers in countries such as Sweden.
He said almost all the employees there were in unions, after being encouraged to join unions by the government.
“The employers there find that when staff join unions, they manage to improve the company’s productivity because issues are discussed. Of course, not everything that is demanded is given but at least both are on a level playing field.”
Azlan added that the 1Malaysia People’s Aid (BR1M) given by the Federal Government to Malaysia’s poor was different from the social security offered in Sweden to the unemployed or old.
“The Swedish Government helps those who do not have a job to get a job. Their policy is everyone must work.
“Once a person is employed, a tax account is opened and money from the taxes is used for the welfare of others.
“Their wages are high. Taxes are high. But they have the social security they can depend on when in need. The aged are also looked after.”
Azlan said the government should look at ways to hike up the salary of Malaysian employees and assist them in saving for old age.

 :'(
Title: Re: Worrying On Retirement? You Should!
Post by: CurryLee on September 17, 2016, 10:32:51 AM
Cham! Cham! Maybe we oso need to build cage house ady...rm150 one cage......oso too expensive....must gip free... :'(
Title: Re: Worrying On Retirement? You Should!
Post by: zigzag on September 17, 2016, 10:34:31 AM
Don’t ignore M’sia’s retirement crisis, says think tank

SUBANG JAYA: Malaysia will soon face a retirement crisis, according to social and economic thinktank Blindspot.
This is because more than half of its citizens do not have enough savings or no retirement savings at all, its co-founder Azlan Awang said.
Azlan said millions of Malaysians were in danger of not having enough money to maintain their current standard of living after retirement.
“The government should be looking into this issue. If the matter is left unchecked, it will only get worse.”
Azlan said the shortfall in savings could affect the national economy as the aged, who were increasing in number, would be forced to cut down on their consumption and depend fully or partially on their families.
Life expectancy in Malaysia has increased to 77.4 years for women and 72.5 years for men. This is a far cry from 1970 when life expectancy for women was 65.5 years and 61.6 years for men.
“We do not have social security, as practised in developed countries,” he told FMT.
Malaysia has a workforce of 14 million. Out of that, 6.5 million are Employees Provident Fund members. But 70 per cent of the members do not have enough savings for retirement.
The government employs 1.3 million people, who will receive life pension upon retirement.
“It shows the remainder, almost six million people, do not have any sort of retirement savings. What will happen to them?”
Azlan added that the figures for people not having retirement savings were increasing every year and that the majority of senior citizens were falling short in savings and would be below the poverty line.
The crux of the issue remains that Malaysians are being paid low wages, according to him.
He said this was where the seeds of the crisis were being planted.
“They don’t earn enough money to put away extra for later years. Malaysians are being paid low but are unable to raise the issue as only six per cent of Malaysians are in unions.”
In terms of gross domestic product (GDP), which is the monetary value of all the finished goods and services produced in a country within a specific time period, the wages to GDP ratio in Malaysia is 33 per cent.
“This means only 33 per cent goes towards wages of workers, while 67 per cent goes to companies as profits.
“In advanced countries, the distribution is almost reversed where 50 to 60 per cent of GDP goes towards wages and the remainder goes to the company as profits.”
Azlan said it showed capital owners in Malaysia could accumulate more money by paying lesser wages.
This was because Malaysian workers did not have bargaining powers similar to that possessed by workers in countries such as Sweden.
He said almost all the employees there were in unions, after being encouraged to join unions by the government.
“The employers there find that when staff join unions, they manage to improve the company’s productivity because issues are discussed. Of course, not everything that is demanded is given but at least both are on a level playing field.”
Azlan added that the 1Malaysia People’s Aid (BR1M) given by the Federal Government to Malaysia’s poor was different from the social security offered in Sweden to the unemployed or old.
“The Swedish Government helps those who do not have a job to get a job. Their policy is everyone must work.
“Once a person is employed, a tax account is opened and money from the taxes is used for the welfare of others.
“Their wages are high. Taxes are high. But they have the social security they can depend on when in need. The aged are also looked after.”
Azlan said the government should look at ways to hike up the salary of Malaysian employees and assist them in saving for old age.

 :'(


all those retirees will have to rush to sell their houses/properties cheaper and cheaper, 30% discount
Title: Re: Worrying On Retirement? You Should!
Post by: king on September 27, 2016, 07:23:02 AM



M’sians face sustaining retirement life challenge
Posted on 27 September 2016 - 05:37am
Lee Weng Khuen
sunbiz@thesundaily.com
Print
KUALA LUMPUR: With higher life expectancy, Malaysians will find difficulty in sustaining their retirement life, said Prof Dr Jomo Kwame Sundaram, who is the third holder of the Tun Hussein Onn Chair at the International Studies at Institute of Strategic and International Studies (ISIS) Malaysia.

“This is a very serious challenge if life expectancy continues to rise. So we need to apply ourselves to this challenge and have a variety of possible options to work on,” he said in his keynote address at the Khazanah Megatrends Forum 2016 here yesterday.

According to data from Khazanah Research Institute: State of Malaysian Households 2 Report, the average Employees Provident Fund savings of a 51- to 55-year-old of RM159,952 would, at the current rates of interest and inflation, only last 15.6 years if he or she draws a poverty line income every month.

“You will find the EPF savings would not be able to sustain for more than 16 years at poverty level,” he said.

Meanwhile, Jomo said the ageing population is also a serious problem to the country and that the government has to re-look current policy.

“But right now, we’re kind of stuck in the system which has not changed, partly because we don’t get to address the fundamental population issue,” he noted.

He declined to comment on calls by certain quarters to extend the retirement age to 62 from 60 years old.

“I don’t want to get into very specific discussion. I think the important thing is to recognise that a lot of workers in this country are not even recognised in the country,” he said, noting that the government needs to seriously look at the illegal foreign worker issue.
Title: Re: Worrying On Retirement? You Should!
Post by: zigzag on September 27, 2016, 08:43:34 AM


M’sians face sustaining retirement life challenge
Posted on 27 September 2016 - 05:37am
Lee Weng Khuen
sunbiz@thesundaily.com
Print
KUALA LUMPUR: With higher life expectancy, Malaysians will find difficulty in sustaining their retirement life, said Prof Dr Jomo Kwame Sundaram, who is the third holder of the Tun Hussein Onn Chair at the International Studies at Institute of Strategic and International Studies (ISIS) Malaysia.

“This is a very serious challenge if life expectancy continues to rise. So we need to apply ourselves to this challenge and have a variety of possible options to work on,” he said in his keynote address at the Khazanah Megatrends Forum 2016 here yesterday.

According to data from Khazanah Research Institute: State of Malaysian Households 2 Report, the average Employees Provident Fund savings of a 51- to 55-year-old of RM159,952 would, at the current rates of interest and inflation, only last 15.6 years if he or she draws a poverty line income every month.

“You will find the EPF savings would not be able to sustain for more than 16 years at poverty level,” he said.

Meanwhile, Jomo said the ageing population is also a serious problem to the country and that the government has to re-look current policy.

“But right now, we’re kind of stuck in the system which has not changed, partly because we don’t get to address the fundamental population issue,” he noted.

He declined to comment on calls by certain quarters to extend the retirement age to 62 from 60 years old.

“I don’t want to get into very specific discussion. I think the important thing is to recognise that a lot of workers in this country are not even recognised in the country,” he said, noting that the government needs to seriously look at the illegal foreign worker issue.

if not enuff money to sustain retirement life, then can opt to cut short the life by 10 years lor  :speechless:
Title: Re: Worrying On Retirement? You Should!
Post by: CurryLee on September 27, 2016, 10:00:03 AM
Why cut short ur life like that ziggi? U shud reduce usage of things n consumption of food...eat Hamdan Soong Fan after retirement...can save alot marney...delicious oso....ok? :nod: be positive!
if not enuff money to sustain retirement life, then can opt to cut short the life by 10 years lor  :speechless:
Title: Re: Worrying On Retirement? You Should!
Post by: king on October 06, 2016, 06:56:35 AM



国人晚年生活堪忧/李治宏
480点看 2016年10月5日

雄才大略●李治宏
南洋商报副新闻编辑
最近,雇员公积金局宣布调高会员55岁退休时的最低存款额,即从原本的19万6800令吉,调高到22万8000令吉,调幅为3万1200令吉,或15.85%。

这项调整将于明年1月1日生效。


公积金局是依据大马人的平均寿命延长,以及公务员最低养老金从820调高至950令吉后,作出这项调整。


公积金局还表明,这足以应付会员55岁至75岁的退休生活。

不过,数据显示,事实恐怕事与愿违。

首先,670万名活跃的公积金局会员当中,只有22%拥有目前的最低存款额。

一旦最低存款额明年调高,相信符合最低存款额的活跃会员会更少。

其次 ,根据国际规范,退休族在退休后每个月收入,须等于退休前月薪至少60%,才足以应付退休生活。

假设退休前月薪是5000令吉,退休族在退休后月入须有3000令吉,才足以应付晚年生活。

另一个问题是,公积金目前提供太多便利让会员提款,例如充作房屋贷款、医疗及教育用途。

这导致许多会员在眼前已钱不够用下,在55岁前提款作上述用途,令他们无法符合55岁最低存款要求。

薪金追不上通胀

政府为了刺激国内消费及提振经济,允许国人减低雇员公积金缴纳率,结果有超过51%公积金局会员选择暂时削减公积金缴纳率至8%,是另一个更多国人公积金存款减少的败笔。

在这问题上,选择降低缴纳率者与当局一样短视,只顾应付眼前财务困境,却不理晚年生活费不足。

须知道,大部分国人的薪金涨幅追不上通货膨胀,在通胀侵蚀公积金回酬与存款额下,国人须设法增加收入来应付晚年生活,而非动辄为了眼前财务状况,而牺牲长远利益。

尤其是人类四大基本需求即衣食住行之一的食品,过去5年的通胀率高达3.6%,远远高于2.4%的整体通胀率,显示我们的收入被通胀严重侵蚀的程度。

官方数据偏低

这也是为何官方通胀数据保持偏低,但民间感觉大不同的主因之一。

如果单靠公积金,没有另外准备一笔退休金,或设法在退休20至30年前增加收入,国人的晚年生活堪忧。

这是当局必须正视的严重问题,而非一味强调国人普遍没有感觉的经济增长率、高收入国、推行大型基建计划等。

毕竟,相比公积金存款等切身问题,上述宏观经济目标对一般民众是遥不可及。

当局必须采取更多措施协助国人提高退休收入,尤其是面对生活费高涨,又无法从一马援助金等派钱措施受惠的中产阶级,否则,老百姓只能自求多福。


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Title: Re: Worrying On Retirement? You Should!
Post by: ikan besar on October 06, 2016, 10:16:35 AM
pu nia mor forget about retirement
work till you die

all $$$$$$$$$$$$$  oreli sapu sapu by those olang greedy

water work director oreli got 1 store punya $$$$$$$$$$$$

u mahu retired makan batu , pokok , leaf , Tanah liat , minum air long kang

 :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap:
Title: Re: Worrying On Retirement? You Should!
Post by: CurryLee on October 06, 2016, 10:53:45 AM
god say got work is good ah....work til die is bless lor....better then those after retire die at home due to loneli boringness.... :nod:
pu nia mor forget about retirement
work till you die

all $$$$$$$$$$$$$  oreli sapu sapu by those olang greedy

water work director oreli got 1 store punya $$$$$$$$$$$$

u mahu retired makan batu , pokok , leaf , Tanah liat , minum air long kang

 :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap: :clap:
Title: Re: Worrying On Retirement? You Should!
Post by: CurryLee on October 06, 2016, 10:57:23 AM
now must start reduce ur spending by 80%。we mus follo king suk ma....now he retire.....nothing to do....sit in starbuk surf net whole day...waitin for mafket crash...then all in his epf withdrae ady one...saturday sunday oso hangout starbuk but secret tapau own flask kopi n bring own starbuk cup...tis is perfect life after retirement..i want...
Title: Re: Worrying On Retirement? You Should!
Post by: ikan besar on October 06, 2016, 05:29:12 PM
pu nia bor, retired oreli just go sell roti canai , cendul , nasi lemak ,
yeow char kueh , ham chin pang , roti ikan kaya , cempadak jalan besar
or char kueh teow special
if you want sure  got something to do punya
worse come to worst go sekingchan everyday ikut that olang
pegi sana pegi sini also got some pocket monies

cannot say nothing to do one lah

pu nia bor

 :D :D :D :D :D :D :D :D :D :D :D :D :D
Title: Re: Worrying On Retirement? You Should!
Post by: zigzag on October 06, 2016, 06:02:18 PM
during retirement, also can go to rivers to catch some big fish, sell to restaurants  :thumbsup: :cash:

(https://i.ytimg.com/vi/kL0RkWgnFgo/maxresdefault.jpg)
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on October 07, 2016, 12:13:07 AM
Plan your retirement wisely. Choose either pick empty aluminium cans or empty boxes..... :giggle:
Title: Re: Worrying On Retirement? You Should!
Post by: KLSE LOSSER on October 15, 2016, 12:27:25 AM
Retirement. .. retirement. .. retirement. .. how to retire in this high inflation world?
Title: Re: Worrying On Retirement? You Should!
Post by: king 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
Title: Re: Worrying On Retirement? You Should!
Post by: zigzag on November 13, 2016, 09:11:41 PM
Retirement. .. retirement. .. retirement. .. how to retire in this high inflation low income world?
Title: Re: Worrying On Retirement? You Should!
Post by: kittima on November 14, 2016, 02:19:45 PM
(http://www.enanyang.my/wp-content/uploads/contentdir/image/92312/161114a01.JPG)

Title: Re: Worrying On Retirement? You Should!
Post by: kittima on November 14, 2016, 05:39:38 PM
Where are you on the journey to financial freedom?

(http://www.thestar.com.my/~/media/online/2016/11/13/07/13/freedomnov16.ashx/?w=620&h=413&crop=1&hash=27AD602C536F6197CB9898C2E58433FC2EC1839D)

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.
Title: Re: Worrying On Retirement? You Should!
Post by: nanik on November 22, 2016, 02:04:35 PM
fight in earnest
Title: Re: Worrying On Retirement? You Should!
Post by: king 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。


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Title: Re: Worrying On Retirement? You Should!
Post by: king 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)。」
Title: Re: Worrying On Retirement? You Should!
Post by: king 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
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte 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:
Title: Re: Worrying On Retirement? You Should!
Post by: king 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.
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on March 27, 2017, 06:53:45 PM
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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)
Title: Re: Worrying On Retirement? You Should!
Post by: king 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
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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)
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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.

Title: Re: Worrying On Retirement? You Should!
Post by: king on April 12, 2017, 09:08:03 AM



BNM: Only 40% Malaysians Financially Ready For Retirement
Premalatha JayaramanMonday, April 10, 2017
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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.
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte 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.

 :)
Title: Re: Worrying On Retirement? You Should!
Post by: king 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
Title: Re: Worrying On Retirement? You Should!
Post by: king 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

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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.

Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on June 20, 2017, 12:47:54 AM
What if retirement comes too soon?

For many older workers, their retirement "plan" is to keep working as long as possible. Unfortunately, life events often intervene and force people to retire sooner than they expected. This may result from job loss, illness, disability, caregiving responsibilities or some other reason.

This unanticipated situation can force people to make many decisions quickly and without a lot of forethought, leading to inappropriate choices. Retirees would be smart not to panic and take things one step at a time. If possible, you'll want to stay on track for eventually retiring when you had planned.

You can find helpful guidance in a recent brief titled "When Retirement Comes Too Soon," part of the "Managing Retirement Decisions" series prepared by the Society of Actuaries (SOA). The brief reviews the various benefit programs that can provide income and necessary health insurance should you retire earlier than expected.

To make the best choices, you'll want to balance potentially urgent short-term needs with longer-term retirement planning goals. For instance, older workers may find themselves tempted to dip into retirement resources right away, including:

401(k) plan accounts, which can be accessed without early payment penalties at age 59-1/2Pension benefits, if available, which can often be started at age 55, though early retirement reductions often applySocial Security income, which can be started as early as age 62, though significant early retirement reductions apply

If possible, it's wise to find other resources that can tide you over and help you avoid tapping these critical benefits too early. Doing so can significantly increase your ultimate retirement income, a beneficial result given the meager retirement resources of many older workers.

The SOA brief offers a list of potential short-term sources of income, including severance pay, early retirement incentives, unemployment insurance, worker's compensation and short-term disability insurance. These benefits can help bridge any income gaps you may experience while you're looking for new work and exploring all your options.

Note that it's common to be offered a severance or early-retirement incentive package and be asked to sign a waiver that you agree not to hold the employer liable for terminating your employment. Signing such a waiver is often a condition of receiving special termination or special early-retirement benefits. But you'll want to think carefully about whether it's in your best interests. The SOA brief provides more details on factors to consider in this regard.

Health care is essential

If you end up retiring earlier than expected, you'll want to make sure you can continue your employer-sponsored health insurance for yourself and your spouse, if you're married. Some severance or early-retirement incentive packages include extended health care coverage. Other possibilities discussed in the SOA brief include the following:

Most employers are required to offer coverage known as COBRA, which allows you to continue your employer's insurance for up to 18 months after you terminate (in some situations, for as many as 36 months). Premiums under COBRA often cost much less than insurance you'd buy on the open market.You might be able to buy insurance on an exchange under the Affordable Care Act (ACA) and receive a subsidy, although this option may be in jeopardy with the potential repeal of the ACA.A few employers offer retiree medical insurance that can bridge coverage until age 65, when you're eligible for Medicare.

You'll want to spend time comparing the options that are available to you. Your analysis should include determining the amount of your monthly premium and assessing each plan's features, such as deductibles, co-payments and the provider network.

Preventative steps

If you're an older worker in a vulnerable industry, or if you work for an organization that's struggling, you'll want to learn as much as possible about the above programs before you're laid off or offered an early-retirement incentive program. The same is true if you think you might need to leave work due to caregiving responsibilities or because of poor health. It helps to know what your options are so you don't need to make hasty decisions at a time that can be emotionally upsetting.

In addition, the SOA brief discusses the following preventative steps:

--Establish emergency funds

--Reduce or eliminate debt

--Update your job skillsNetwork

The SOA brief ends with a helpful list of additional resources for learning about programs that can help you when retirement comes too soon.

With the uncertainties in today's economy, it's smart to take a hint about retirement planning from the Boy Scouts: Be prepared!

Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on October 26, 2017, 02:18:12 PM
Most Malaysians cannot afford to retire

(https://www.thestar.com.my/~/media/online/2017/10/25/10/18/dcx_doc6wqi9ixkimvivagneo3.ashx/?w=620&h=413&crop=1&hash=5B1EE06BFBD5FB905E7468C153CB586DF07F8F3F)

MALAYSIA is ageing, and the population over 65 should come to 15% of the population by 2035. Current Employees Provident Fund (EPF) savings for most Malaysians are barely enough for a decent life after retirement.

Meanwhile, Malaysian life expectancy has been rising. Life expectancy at birth in 2015 was 72.5 years for males and 77.4 years for females.
 
Assuming someone lives until 75, with no major medical expenses and outstanding debt, average savings of RM194,000 would bring RM25 per day, or only RM810 monthly. Of course, this crude analysis does not consider many factors, but the picture is clearly dire.

Poor EPF returns

This year, EPF raised the minimum savings target by age 55 from RM197,000 to RM228,000. But only 18% of members have this much, far short of its target of getting at least half its members to meet the minimum level by 2021. Low investment returns and withdrawals permitted – for housing, health and education – imply even less for retirement.

More than two-thirds (68%) of EPF members aged 54 had less than RM50,000 in EPF savings! With the household poverty line income at RM930 monthly, RM50,000 in savings will only last 4½ years. The bottom fifth of EPF members have average savings of only RM6,909!

According to EPF, 70% of members who withdraw their funds at age 55 use up their savings less than a decade after retiring. Most EPF savings are therefore not enough to stay out of poverty after retirement.

There are 32 million people in Malaysia, with 69% of the population of ‘working age’ between 15 and 65. Only 48% of the labour force of 14.5 million have active EPF accounts.

Around a tenth works for the Federal Government and are eligible for pensions, contributing to other pension funds, such as the KWAP (Kumpulan Wang Persaraan [Diperbadankan]) and the LTAT (Lembaga Tabung Angkatan Tentera).

Others remain uncovered. Many employees, in the informal sector and others casually employed, do not have active EPF accounts, while many in farming and the informal sector are self-employed.

EPF assets diversified

A late colonial innovation from the early 1950s, EPF is now the world’s seventh largest sovereign pension fund in terms of total assets. In its early decades, EPF had to buy relatively low yielding government bonds, providing the government with a steady source of cheap funds. By 2015, its investment assets were RM685bil, after growing about 10% annually over the previous 15 years. EPF held considerable assets in ‘cash’ in the past.

Investments in traditional, lower risk, domestic, fixed income assets, especially Malaysian government bonds, remain significant. Of ‘held-to-maturity’ (HTM) investment assets, EPF has been accumulating Government sukuk (‘zero coupon bonds’) holdings. By 2015, these came to 29% of total HTM assets, rising rapidly from 2.7% in 2006.

Since the 1980s, EPF has become increasingly market oriented, and has been investing abroad since 1996. Over the years, riskier assets have come to account for increasingly large shares of total investment.

Ostensibly in search of higher returns, EPF’s foreign investments have grown. Investments in equities and properties abroad have been rising in recent years. EPF has gone into foreign markets since 1996, with investments in equity, fixed income yielding assets and real estate, especially in the US, UK, Singapore, China and Australia.

Significantly, it is now allowed to be a major investor, or even operator of businesses, i.e., well beyond being a passive portfolio investor -- a significant departure from past practice. This has undoubtedly affected the context, management incentives and governance of the fund, opening the door to abuse of various kinds.

Holdings in other asset classes, especially equity investments, have grown in recent decades. Direct real estate and infrastructure investments, such as toll highways and waste management, have grown since 2011, most significantly, its 49% stake in PLUS costing RM9bil in 2011.

EPF declared a dividend of 5.7% for 2016, to its 14.72 million members, with a total pay-out of RM37.2bil. Total gross investment income was RM44.2bil in 2015, with domestic (52%) and foreign (48%) sources contributing almost equally. While income from interest, profits and dividends remains stable, capital gains accounted for more than a quarter of EPF income in 2015.

Why EPF returns are low

As EPF savings do not provide most retired employees with enough to live above the poverty line after retirement, it is failing to serve its intended purpose. For over four-fifths of members, poor returns to their EPF savings will prevent them from retiring in comfort. Clearly, depressed wages, low EPF investment returns and high household debt are not serving most Malaysians well.

EPF and other retirement fund professionals need to be allowed to do their jobs to best serve their primary stakeholders, namely retirees, current and future. But political interference is preventing EPF professionals from serving members’ interests better.

Such political intervention in investment decisions does not inspire either EPF members or public confidence. In the past, EPF members were resigned to low returns as their funds were mainly used to buy government bonds offering low returns. With EPF investments more diversified in recent decades, EPF returns increased, but not by much.

Hence, EPF members do not appreciate their retirement funds being used to buy low yielding US infrastructure funds.

The Malaysian public does not want government leaders to sacrifice their interests to curry favour with a foreign leader, especially one who has never offered any concessions to advance our national interests.

 :S
Title: Re: Worrying On Retirement? You Should!
Post by: jjwong on October 26, 2017, 03:20:42 PM
i have less than 50k in my epf
im not worried about wether 50k is enuf as propaganda by some professor
because i have also receive pencen money from my children :
The 50 BILLIONs DOLLAR I have is..wether EPF will be around when i need to withdraw the money
EPF fund can suka suka be diverted to US to make America GReat Again, how can this be? 
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on October 26, 2017, 10:12:33 PM
Survey: Many Malaysians still without any pension savings

(https://www.thestar.com.my/~/media/online/2016/11/30/09/08/epf-logo2.ashx/?w=620&h=413&crop=1&hash=9689F444586C305A006B43B02939450308E62822)

PETALING JAYA: Far too many Malaysian are still without any form of pension savings, according to a global survey.

Malaysia has scored a C rating in the ninth edition of the Melbourne Mercer Global Pension Index, ahead of most Asian countries, with its index value up from 55.7 in 2016 to 57.7 in 2017.

The index measures 30 countries and covers 60% of the world’s population, with this year’s edition urging countries with unsustainable pension systems to take action now, rather than risk the need to take even more drastic action in the future.

“Malaysia has a strong pension infrastructure with some good features. However, there are several major risks that should be addressed before we can move up to a B or even an A rating.

He said that the public sector pension system would only get more expensive over time and that there were still far too many Malaysians without access to any form of pension savings.

“There should be a minimum level of support for the poorest individuals; and greater incentives for employers and other industry and community groups to set up Private Retirement Schemes (PRS),” he added.

According to the index, Denmark, in its sixth year running, retained the top position with an overall score of 78.9, ahead of the Netherlands and Australia at 78.8 and 77.1, respectively.

New entrants to the Index, Norway and New Zealand, achieved credible overall index values of 74.7 and 67.4, respectively.

Both countries were noted as having a sound structure, with many good features, but have some areas for improvement.

Mercer’s president of Health and Wealth, Jacques Goulet, said increasing life expectancies and low investment returns were having significant long-term impact on the ability of many systems around the world to deliver adequate retirement benefits.

He added that Japan, Austria, Italy and France were examples of developed economies whose pension systems did not represent a sustainable model that will support current and future generations in their old age.

“This is due to a combination of factors, including a lack of assets set aside for the future, low labour force participation at older ages, and significant demographic changes towards an ageing population,” he said.

 :'(
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on November 15, 2017, 11:28:22 AM
Prepare your retirement plan early

PETALING JAYA: Transformasi Nasional 2050 (TN50) aspires to address the issue of retirement in the country, according to Private Pension Administrator Malaysia (PPA) CEO Husaini Hussin.

Malaysia will have a larger aged population by 2050.

People would have to be prepared to go into retirement, and formulating a proper retirement savings plan as early as possible would ensure a smoother transition, he said.

“Instead of considering your retirement plans in 30 years – start now, start small. It will definitely help to increase one’s readiness towards retirement years,” Husaini told StarBiz.

The central administrator also plays a role in educating the public to invest through proper channels by identify legitimate consultants through the Federation of Investment Managers Malaysia and avoid get-rich-quick schemes.

According to Husaini, studies have shown that the ideal amount of savings that will help see one’s retirement through are two-thirds of one’s current monthly salary.

Hence, one needs to save one third or 33% of monthly salary for retirement.

From this figure, an estimated 23% of the monthly salary has already been channeled to the Employee’s Provident Fund (EPF), leaving 10% to be saved by the employee for his or her retirement years.

Under the PRS, a voluntary savings and investment scheme, account holders can get a RM3,000 tax relief each year, while Malaysians within the age bracket of 20 to 30 years old will also receive a one-off Youth incentive of RM1,000 in their PRS account.

Savings in PRS accounts will be invested in funds offered by PRS providers ranging from conservative, moderate, or growth.

The eight PRS providers registered with PPA are Affin Hwang Capital, CIMB Principal Asset Management, Public Mutual, Kenanga and RHB Asset Management, Manulife and AIA and AmInvest.

Apart from individual PRS accounts where users manually deposit funds into their respective accounts, PRS also offers Corporate PRS. The Corporate PRS enables employer contribution of up to 7% on behalf of the employee and can facilitate individual PRS contributions through employee salary deduction.

While employers are already contributing 12% to 13% of their employees’ remuneration into EPF accounts each month, the employers can contribute an additional 6% to 7%.

This will add up to the 19% tax incentive for employers who contribute to approved schemes.

“Employers can also facilitate individual PRS contribution by deducting it from employees’ salary.

“Save before you spend,”
said Husaini.

As of Sept 30, 2017, there were 265,567 PRS members, signifying a 30% increase from last year’s figures.

Husaini hopes that this figure will double next year, in line with growing awareness and incentives offered.

From the total number of PRS members, some 17% constitute the corporate PRS member base with more than 500 corporations on board.

In March this year, the percentage of corporate PRS members was only 9%.

Meanwhile, assets under management has grown by 40.13% to RM1.87bil in September 2017.

Other benefits of Corporate PRS include enhancing corporate reputation as a caring employee, attracting and retaining talents as well as rewarding performance via merit bonus and vesting schemes.

Vesting schemes are conditional employer contributions that are based on the years of service.

In line with the upcoming Budget 2018, PPA has also tabled a wishlist.

Husaini said incentives were high on PPA’s list. “We are encouraging the Government to offer additional incentives – a prominent feedback that we have been receiving from the PRS members. However, we also want to make sure that Malaysians contribute more to PRS because they need to save more for their retirement.

“With PRS being a voluntary scheme and only five years since its inception, it requires time to gain traction like the EPF.

“Hence, to encourage and inculcate the right saving behaviour where employees make monthly or voluntary savings – this requires some nudging, usually in the form of incentives including the RM3,000 tax relief, which we hope can be extended beyond 2021,”
said Husaini.

He added that PPA is also working on having more value-added services on its website to enable seamless PRS transactions.

The administrator has since set up online top up and nomination applications on its site, and plans to offer online enrollment and switching of PRS providers or fund types next year.

 8)
Title: Re: Worrying On Retirement? You Should!
Post by: Oly Shyte on November 20, 2017, 05:21:21 PM
The retirement conundrum

Govt may need to look at measures to mitigate the impact of the sudden influx of retirees

NEXT year, about 100,000 workers who should have retired at 55 in the second-half of 2013 will finally leave the workforce at 60 years old.

In other words, after a period of five years where zero mandatory retirement took place – within the private sector at least – we will have some 100,000 workers leaving their jobs.

Recall, within the private sector, the retirement age was upped to 60 from 55 in 2013, when the Minimum Retirement Age Act kicked in.

Exactly, what kind of implications can be expected from the sudden influx of retirees?

Equally important, what are some of the measures that can be taken to mitigate the negative impact, if any?

Malaysian Employers Federation executive director Datuk Shamsuddin Bardan says firstly, this will result in the re-opening of the replacement market, which has not been available in the last five years – but only to a certain extent.

“Every year, there are about 200,000 new graduates entering the job market with another 300,000 school leavers also entering the workforce, but this (retirees leaving their jobs) may not necessarily translate into increasing chances of these graduates getting jobs.

“Companies have become very careful in hiring now, and they may not fill up the positions (that the retirees will leave vacant) due to the prevailing weak economic conditions,” Shamsuddin tells StarBizWeek.

Will this affect productivity?

Yeah Kim Leng, a professor of economics at Sunway University Business School, says whether or not productivity will be affected is more company-specific than anything else.

“Companies will need to weigh out the cost versus benefit in their hiring decisions,” he says.

Having said that, it is difficult to quantify intangible costs and benefits.

The current unemployment rate in Malaysia stands at about 3.5%, translating to about 600,000 people being unemployed.

At 3.5%, Malaysia is ahead of the Philippines and Indonesia, which have unemployment rates of about 5.5%, but behind Singapore, Thailand, Cambodia and Brunei, which are at about 2%.

The move to increase Malaysia’s official retirement age to 60 for the private sector some four years ago was seen as timely and in line with the retirement trend in the other countries within the region.

In Singapore, for instance, the minimum retirement age according to the Retirement and Re-Employment Act is 62 years.

The increase in Malaysia’s official retirement age was also viewed as a reflection of the longer lives that Malaysians are experiencing compared to years ago.

According to latest available data, life expectancy at birth for Malaysians is 72.5 years for males and 77.5 years for females. This is an improvement from 2010 when male life expectancy was 71.9 years while for females, it was 76.6 years.

Ageing population

Even so, this has brought about another emerging issue – an ageing population, exacerbated by a decreasing fertility rate.

According to Yeah, who is also an external member of Bank Negara’s Monetary Policy Committee, Malaysia already has a sizeable group of individuals aged 65 and above who make up 7% to 8% of the entire population.

By 2020, he reckons the number will hit 9% and by 2030, Malaysia could be an aged country with some 15% of people aged 60 and above.

“The question is whether the retirees have enough retirement savings,” Yeah says.

To be sure, although the mandatory retirement is at 60, the Employees Provident Fund (EPF) withdrawal is still maintained at 55.

“What this (ageing population) could also mean is that the dependency ratio, which measures the number of dependants one has, will start to increase and on a macro level, this could pose a greater burden on the overall economy.”

According to Yeah’s back of the envelope calculations, to retire comfortably in the Klang Valley, one would need about RM5,000 a month, RM60,000 year or a total of RM1.2mil just for living expenses, assuming one lives to about 80 years old. This is also on the assumption that there are no more debts to be serviced.

“If the lower-income people under the B40 category can move toward the middle-income group (M40), the financial burden of those who are being depended on will lessen as time goes by.”

According to Socio Economic Research Centre executive director Lee Heng Guie, the demographic shift towards a higher proportion of ageing population which he describes as “unprecedented”, threatens to impact productivity, economic output and economic welfare which requires social, political and economic change at all levels.

Firstly, the vast numbers of experienced workers who retire from the labour force will cause capital to become scarce and result in reduced savings in pension funds, Lee says.

However, Sunway’s Yeah says that pension funds like the EPF already have surplus savings, which means that this is hardly an issue.

Neverthless, Lee concurs with Yeah, saying that low birth rates and an aged society mean a higher dependency ratio where the younger generation will need to support the aged society.

“This, coupled with rising healthcare costs and other related aged-care expenses, will divert resources for consumption and spending,” Lee says.

AllianceDBS Research chief economist Manokaran Mottain says from a company’s perspective, the ones that are over-staffed may take the opportunity to stop hiring or hire selectively once the retirees leave.

“The issue is whether or not the young ones have the skill sets required. If yes, they can be easily absorbed into the job market,” he says.

AmBank group chief economist Anthony Dass thinks that the current retirement age of 60 should be increased further, given the increasing life expectancy and the issue of the lack of skilled workers.

“I feel raising the retirement age is very beneficial, as it leads to higher tax revenue and consumer spending. The main problem with this policy is that it will be highly unpopular, especially with those who are nearing retirement age,” he says.

Anthony says there should be a focus on staggered retirement by having a scheme that allows older workers to work fewer hours but remain in the labour force.

“If the individual is unable to take advantage of this staggered work due to health or any other reason, then the Government should look at voluntary work.

“I feel such an avenue will benefit both the economy and the social environment, taking some pressure off the aged.”

(https://www.thestar.com.my/business/business-news/2017/11/18/the-retirement-conundrum/~/media/d41b2598c59c474a923302b8747581d6.ashx?h=584&w=600)

Lower costs for companies?

At a glance, it may appear that costs for companies will go down once this group of retirees vacate the labour force.

But observers point out that while costs may come down at some companies, this may not be necessarily true for all.

New hires within the areas of e-commerce, ICT and other high-end services can cost more than the cost of hiring those who have retired.

“Take, for instance, the banking industry. While the retirees may leave, it may cost more to hire those with specialities in the newer areas of banking like fintech and so on. Costs may even go up in some cases,” Yeah says.

Still, for government-linked companies, on the whole, they should see a relatively significant reduction in overall costs, as these firms tend to have large numbers of long-serving employees, says Manakoran.

Pension bill

Within the civil service, the pension bill next year is expected to rise to RM24.55bil or 10.5% of the federal government’s operating expenditure (opex).

This figure surpasses next year’s expected petroleum revenue of RM11.45bil.

As comparison, in 2014, the pension bill stood at RM18.22bil or 8.3% of the federal government’s opex.

It goes without saying that the higher pension bill will put a strain on the government’s coffers.

Public healthcare is another issue.

With increases in private medical bills outpacing the general inflation rate each year, retirees may have no choice but to turn to public healthcare services when they are sick, especially for those who are not adequately insured.

In March this year, Health Minister Datuk Seri Dr S. Subramaniam was quoted as saying that health spending per capita in Malaysia has increased by as much as two and a half times within 17 years, that is from RM641 in 1997 to RM1,626 in 2014.

Additionally, a recent study by Swedish reinsurance company Swiss Re reveals that Malaysia could face a potential shortfall in the financing of healthcare amounting to US$4.1bil (about RM17bil) by 2020.

This suggests that additional fiscal spending may be needed, or individuals may need to fork out for the shortfall on their own.

The Socio Economic Research Centre’s Lee says that the change in demographic trends accompanied by the rising number of retirees in both public and private sectors and longer life expectancies will impinge on the future budget burden.

He notes that public servants’ retirement charges grew 12.5% per year in 2000-2017. The number of retirees, meanwhile, has increased by 3.7% per year to 765,420 persons at end-2016 from 660,907 persons at end-2012.

Because the cost associated with retirement charges has been increasing, the expenditure on pensions increased from 7.6% of the Government’s total opex and 7.2% of total revenue in 2010 to 10.8% and 10.5% of total revenue, respectively, in 2017.

“It is, therefore, fiscally unsustainable for the Government to continue on this path, given that other committed expenses such as emoluments and debt service charges also take the lion’s share of opex,” Lee says.

Lee also says that it is about time to consider a phased migration from a defined-benefit to defined-contribution pension scheme for public servants.

There is also the question of how to work out a sustainable retirement income and pension scheme for older employees.

Lee asks: “While the EPF and private pension scheme provide retirement income buffers, are they sufficient?

“The Government needs to actively support older workers and ensure that they have sufficient savings toward retirement.”

For example, he says the EPF can consider giving an additional dividend of 1% on the first RM50,000 of accumulated EPF savings for employees aged 50 years and above.

“Employers may pioneer a flexible private retirement scheme, which allows employees to reduce working hours and claim part of their pension while continuing to accrue further pension entitlements for when they fully retire.”

Other policy changes that could be considered include a higher EPF contribution by employers for older employees, which most companies at the moment have capped at a fixed rate, along with a lower EPF contribution rate by the employee.

Still other measures to address the issues include altering health insurance and critical illness policies to cover the higher risks as people age, he adds.

“The health implications of an ageing population are double-edged. Not only are Malaysians living longer but they are also getting healthier.”

Going forward, healthcare expenditure and aged-care funding will rise further, continuing to burden the Government’s fiscal finance conditions, households as well as increased out-of-pocket expenses for the elderly, Lee admits.

“As such, both public and private healthcare financing have become one of the pressing policy issues that need to be critically looked at.

“Perhaps, a private-public funded healthcare medical and insurance fund is worth exploring based on the principles of equitability and affordability,” he says.

 :S
Title: Re: Worrying On Retirement? You Should!
Post by: king on November 29, 2017, 12:28:47 PM



Survey: Over 50% of Malaysians not financially ready for retirement
FMT Reporters
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Azaddin-Ngah-retirementKUALA LUMPUR: More than 50% of Malaysians may not be financially ready for retirement, according to the Credit Counselling and Debt Management Agency (AKPK).

To help lessen this number, AKPK yesterday launched a new mobile app called Financial Insight.

AKPK CEO Azaddin Ngah Tasir said its study, conducted last August on 1,000 Malaysians aged 18 to 55, showed that although most of the respondents had set aside a portion of their monthly income as savings, one in five was saving less than 10% of their monthly salaries.

The survey helped AKPK create the mobile app.

The Sun daily quoted Azaddin as saying: “People are saving, but not enough. This is because a lot of people, especially the young adults, do not think about retirement. And based on the (monthly) income that they have, there is only a certain amount that they can save.”

According to The Sun daily, the app, which allows individuals to take a photo of themselves, will tabulate their financial health based on the inputs they provide and project the robustness of their financial standing with an image of the individual upon retirement.

For example, a user with better financial health will look younger than one who is financially burdened at the same age.

The app will also provide tips for users if the results indicate a poor outlook on their retirement.

The app will be available for download for free in mid-December for both iPhone and Android users.

Visa country manager for Malaysia Ng Kong Boon said both Visa and AKPK hoped the mobile app would enable Malaysians to understand the importance of saving regularly, and be aware of the amount that they should set aside every month in order to be financially sufficient by the time they retire.

Meanwhile, Azaddin said since its inception in 2006 to Oct 31 this year, AKPK had counselled more than 648,295 people, with 14,973 cases, involving RM600.6 million, settled.

He was quoted as saying that AKPK’s statistics showed that 12.8% of its debt management programme customers were below the age of 30, 70.6% between 30 to 50 and 16.6% above 50 years old.
Title: Re: Worrying On Retirement? You Should!
Post by: king on December 13, 2017, 02:33:17 PM



Highlight
Almost half of Malaysians worried over retirement savings, says survey
Syahirah Syed Jaafar
/
theedgemarkets.com

December 13, 2017 13:58 pm +08
-A+A
KUALA LUMPUR (Dec 13): Almost half (49%) of Malaysians are not confident about having enough money to live till the age of 80, according to the 2017 Prudential Relationship Index (PRI) survey.

The second edition of the index by Prudential Assurance Malaysia Bhd found that retirement savings is a top financial priority for the majority of Malaysians. More than half (59%) reported they are concerned with whether they will have sufficient funds for retirement.

The PRI is an exploratory study to understand the state of personal relationships in Asia. In Malaysia, 516 interviews were conducted through online sampling with adults aged between 25 and 55 years. Respondents were residents of Kuala Lumpur and Petaling Jaya with household incomes of at least RM4,000 per month, representing the top two-thirds of household incomes in the two cities.

The survey shows that perception for receiving financial support varies. Although 83% of Malaysians currently contribute financially to their parents' daily spending, only 31% expect their children to support them financially in their old age.

Most Malaysians expect to depend on themselves, the survey shows. It reported that 87% plan to live off their personal finances and assets, while 43% expect to continue working in their senior years.

Prudential Assurance chief brand officer Fiona Liao said as a solution, it is important for Malaysians to have frequent reviews of their finances.

"As a society, we don't spend enough time thinking or doing financial planning. There are plenty of solutions out there, insurance is just one option. As circumstances change so do our needs. Malaysians tend to worry about these things but not enough action is taken on their part," Liao said at the launch of the index earlier.

Liao suggests for Malaysians to consider the various financial planning services offered by banks and insurers.

"Sometimes it really helps when there's a third party sitting in the middle of you and your spouse to guide you on your finances. It helps take a burden off your back and your relationship even," she said.

Malaysians do agree that better financial planning is the answer to peace of mind, with 57% of couples agreeing that working with a financial agent to plan their finances makes their relationships better.

Additionally, people who work with their partners to make financial plans are likely to expect improvement in their family relationships in five years' time (76%) than those who don't plan together (42%). They are also more positive about their personal finances improving by 2020 (74%) compared with those who make plans separately (55%).

Furthermore, another factor benefiting their personal finances is the growth of technology in the country; 83% of Malaysians agree that technology has made planning finances easier and better.

While saving for retirement is important, Malaysians also reported being concerned about their children. Almost all parents in Malaysia (96%) are stressed about their children's future. About 67% admit to worrying at least once a week, while 50% have supporting their children's education as a top financial priority.

The family's financial state on a whole is also another key financial concern for more than a third of Malaysians. If anything were to happen to them, 39% believe their family would suffer financially and emotionally, while 10% predict the effects would range from serious to catastrophic.
Title: Re: Worrying On Retirement? You Should!
Post by: Annmarrie on March 21, 2019, 06:37:21 PM
Read the information that is well suited to take over the world want to be part of this more rounded because it was subject to appeal.
Title: Re: Worrying On Retirement? You Should!
Post by: Oghmarana on July 13, 2019, 01:56:03 AM
All that is simply fantastic anyways. I started my retirement planning right at the age which was really disclosed here totally and completely. That stats are quite disturbing but that is world wide picture anyway for anything you may see here.
Title: Re: Worrying On Retirement? You Should!
Post by: Fenrimi631 on January 19, 2020, 10:07:38 PM
Looking at the current economic situation around the world, we want to believe that in old age each of us will be able to afford, if not rich, at least a human existence that allows us to live normally and take care of our own health. Because, frankly speaking, it scares me and I would like to have a certain perspective that will confirm that everything will be fine.