Retirement

When you retire, what kind of lifestyle do you wish to have?

1. Travel
2. Spend time with love ones and freinds
3. Start a hobby
4. Do voluntary work
5. Exercise and stay in shape
6. Learn new things

But, the fact is how many can achieve their ideal retirement?


Ideally Vs Reality


Ideally........

Age                                              Events

20                   Ambitious, Earn a good income. Buy the things we want.

25                   Building a career, buy a home. buy a car.

25 - 30            Have children. Stable career and income. Start creating wealth.

30 - 50/55       Financial freedom. Comfortable life.


Reality........

Age                                                 Events

20                    Ambitious. Limited income. Have to spend carefully.

25                    Building a career. Buy a home. Buy a car. Create liabilities.

25 - 30             Have children, Higher responsilbilities. Higher liabilities.

50 - 55             Financial freedom - just a beautiful dream. Increasing inflation.  Mortgage loan.
                        Children education. Medical cost.


REALITY

Majority of the public will live through retirement and face financial difficulties.

Malaysia retirement system overlooked inflation.
Risk of insufficient retirement fund.

EPF fund is insufficient to support retirement.

80 of Malaysia retirees have less than RM 800 for their retirement monthly.

41% of Malaysia retirees  expect children to take care of their retirement.

In reality, there are one third of children do not support their parents financially.

Many retirees continue to earn income despite reaching the age of 70's.

85% of Malaysia retirees with insufficient savings; regret not saving enough to fully realise their dreams.

Source: The Future of Retirement, Life After Work Global Report 2013

INSURANCE IS THE MONEY TO LIVE WITH DIGNITY