All of us want a life without worries. With hope in our hearts and the future, we find a secure job and cope with the daily grind, balancing career, health and happiness. Retirement seems exciting with more free time, but the burden of finances might leave you with doubt and anxiety.
However, what if you could live the life you’ve always wanted? Imagine days with the freedom to relax, spend time with your family and friends and explore your interests. When you realise that you want more in life, you have a choice: to live with just enough to get by or build life the way you want it to be.
While you have savings in a mandatory scheme, it may be insufficient for the lifestyle you have always had. Reports show that most retirees deplete their mandatory scheme savings within five years after retirement. Additionally, with the increased average life expectancy of Malaysians*, 72.6 years for males and 77.6 years for females, you will need to save more to ensure that your retirement savings are sufficient to sustain your living for at least 15-20 years after you stop earning an active income.
*Source: Department of Statistics Malaysia 2020