Retirement plan....are u ready for it?

Some points to ponder....

1. EPF funds on average may last only 3 to 4 years after retirement.
2. About 90% of the current EPF contributors in the country have savings between RM150,000 and below.
3. In 2009, EPF gave 5.65% as dividend to its contributors. In 2008, EPF gave 4.5%.
4.According to ReMark Malaysia, most urban Malaysian would require between RM500k and RM5million to retire.
5. EPF dividend will be gradually scaled down (decrease??) to encourage contributors to save their money in Private Pension Fund (PPF)

Source: Eva Young from The Sun, 21-10-2010

Question: Are we well-prepared to face our golden years?

Start planning your retirement now if you have not done it.....Seriously though...Mega important....

One of those fews things u can do now is set up your own personal retirement account. ASB is a good way to start. Or an education or retirement fund account. Try to save at least 10% of your monthly income in that fund. Do it for the next 15 or 25 years, or maybe more. You'll be surprised with the amount that you have when see it later....

All of us has our very own targets and priorities, so plan your finances well and try as much as possible get rid of those debts....hehehe

Having said that, I'm looking forward to learn more about the Private Pension Funds as tabled by the PM during the budget last week. I know that it focuses for the benefit of private sector employees and the self-employed...It could be another source of retirement savings. Perhaps, it's another way of diversifying....Wow...more tools (baskets) for investing ehh? Maybe I should take advantage of this PPF fund and see how it goes....

Whatever being said...it boils down to our very own priority and whether we like it or not, it is very important that we start saving.

'' Sediakan payung sebelum hujan'

Have a nice day....