In Malaysia, when a retiree plans to retire he/she needs to think twice. Based on the newspaper above “unwilling retiree” begs for his extension on his job. Although at 57 consider a golden age for relaxing, spending time with grand children, go outing with friend and relatives…etc. But the fact is we are facing truth of life “Living expenses”, do we hope for our children on that?
Some parents still hope on their children to provide their living expenses during their retirement age, but the truth is we can’t hope on them anymore. Take an example, age 25- 35 years old, they usually married or even starting their working lives, they could hardly save money. Young executives earning RM 3,000 above usually don’t save much because of cost of living is increasing. If these young executives couldn’t save money for themselves, how could they provide money for their parents?
So retirees are facing the hardship IF they don’t prepare retirement fund. EPF only helps for few years, but not for long term. So preparing a second EPF is a need now. We can just let this problem prolong by ignoring it. But the time of retirement, and you’ll be ended up unwilling to retire. No one plans to fail, but fail to plan.
“Get yourself ready for a better future”
How to prepare a second EPF? Click here