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Lay Awake at Night Worrying About Money ?
- Do you and your spouse quarrel about money?
- Is money a daily struggle? Is it so tight that any unexpected expense is a burden to your family?
- Are you burdened with debt?
- When your credit card bill comes, are you ashamed and afraid to open it?
- How much savings do you have?
- Are you and/or your spouse working so much that you have to outsource the care and raising of your children?
- Can you afford a college education for your children? For even one of them?
- Is your job secure?
- Retirement
- Disability
- Downsizing
- Layoff
- Health Problems
The Shocking Reality About “Retirement” in Malaysia...
EPF survey :
"Studies have shown that most retirees finished their money within 10 years after their retirement, with the majority using up their money within three years, and from then on they depend on their children for survival."
This is interesting, read on.
According to EPF, by the time one reaches 54 years old, which is a year before the retirement age of 55, the average Malaysian usually has RM92,000...
The latest survey on the ageing population has shown that Malaysian men live up to 78.6 years old and women 86 years old. This means that you have to make the RM92,000 last for 23 years if you are a man and 28 years if you are a women.
This is not a shocking truth. It is a question that majority of us, working as an employee, avoid at all cost. We simply do not want to face the brutal fact that, for most of us, our savings in EPF is simply not enough for retirement.
It is about the change of mind set. We can no longer see it as how much we have in terms of assets, but how much income we can earn from the assets that we have. RM92,000 in the form of hard cash will be quickly depleted by inflation and necessary spending.
Therefore, no matter how, EPF/ KWSP savings alone is not enough under the above brutal circumstances.
The days of expecting EPF to take care of us are over !
Face the Facts:
"You and No One Else Are Totally Responsible For Your Financial Situation!"
Ask yourself these important questions...
- The next 5 years are coming, should I do something to improve my financial situation ?
- If I continue on the path that I am on right now, will I be better off or worse off ?
- Will my financial situation be different in the next 5 years ?
- 5 years from now, do I still want to be in the financial situation that I am in right now, or do I want to be further closer to Financial Freedom ?
Successful people are successful because they do the things that others don’t do or won’t do.
What Can I Do Now To Make Sure I'm On The Path To Financial Freedom ?
Financial Planning is the key to financial freedom. Even if we enjoy working as an employee, we must build assets that generate residual income.
