When Is The Best Time To Plan For Your Retirement ???
Harry
Company's policy, U know that he or she is Retiring.
It is a very sad day of your life because once this happenned U are
jobless and if you work with a private company U have no more salary
except your EPF and your pass savings. For those who work with the
Government, they do have an income we call Pension.
These pesion is meger and is not enought to pay your lifestyle.
So if you already have other income in place then U are save. If not,
U are in trouble waters.
Now U realised that a proper planning should been in place before this
retirement age.
So, when is the best time to plan for your retirement age?
>From my very own experience and observation, the best time is
immediately after U started your first job.
What U shud do is to allocate a kind of saving from the monthly salary
U received, say 10%.
If U can save 10% of your monthly salary for 30 years, U might save an
amounth that will pull U out of trouble waters when U reach the
retirement age. I have to tell U that the 10% is not enought too ...
What about the EPF? Well, for as long as U have not retrive it and
your employer have been contributing, U might have something. However
most people do not have more then 100,000 before they retire.
If U retire are 56 and U live till 85, U have at least 29 years to
leave on what U safe and the EPF.
The truth is that it is not enought .....
So when is the best time to plan for your retirement ???
thho
I think the moment one has full control over his/her own money, then it's
the right time to
start thinking about retirement.....
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