Good morning! I'm reading The Star online and came across this interesting article on savings for retirement. Below is an index showing the awareness level of retirement income. How do you think Malaysians compare to people of other countries?
The article is worth a read.
Have a great Sunday. Over here in Kuala Lumpur, the sun's rays are still somewhat filtered by the haze but I see blue skies and beautiful clumps of white clouds. Looks like today's going to be a wonderful day.
Image source: The Star
level of awareness looks good as compared to many other countries.. but then i think this is a no choice for us, as we are the only one who need to support ourselves after retirement, whereas other countries will have pension given by the government authority..ReplyDelete
I was pleasantly surprised by the survey too. However, early retirement planning has eroded 10% in 2010 as compared to 2007 - from 48% to 38% and preparation is starting at a later age too, i.e. at or near age of 40.ReplyDelete
You're right that we have no choice in this respect. Do or die, so to speak.
Haha! Poor australia, 78%?! Those citizens get pension from the government. majority blue and white collars have superannuation. But in my opinion, they will not be enough for retirement should population keeps on increasing ie everything will cost more in the long term.ReplyDelete
I heard that with the current rate of inflation....savings might not be enuff for retirement.ReplyDelete
gheeh it is really a mustReplyDelete
we'll never know what will come after retirement better to plan it as soon as this.
have a great dya.
Need at least RM2m to retire at age 55..so have to work until death loh haha..ReplyDelete
Might need to work until I am dead. :pReplyDelete
Ai Shiang, pension is a big help or at least something to supplement savings during retirement. That accounts for the 78%, I suppose.ReplyDelete
Here in Malaysia, civil servants only get the pension.
Mei Teng, it all depends on expenditure during retirement but with inflation, people have to think of more and faster ways to grow their money.
Poorprince, wise move to start planning early.ReplyDelete
Bananaz, good to know what you need for retirement so you can start planning early for it.
Tekkaus, it's a good idea to stay active even after the retirement age. Blogging can be a good way of making money too.ReplyDelete
It is always important to save a good portion of your earnings for your future life. This money will help him/her in getting better treatment, better living and better future.ReplyDelete