When you are 50’s

3 04 2010

Sumber:http://investkk.com/when-you-are-50s/
You are entering final few years of your career life which is ended around 55 years old. Are you ready with all your savings and EPF to support your remaining life? Is that enough to support your current living style up to 80 years old? How much is your total saving including your EPF fund? Will you have enough skills to manage the pool of fund once you withdraw from EPF after you are 55?

Can you solely depend on them?
Research shows majority of EPF contributor will run out of money after they are 58 years old. Yes that is 3 years just after their ‘golden’ years. So who is going to support for the rest of 22 years if you live up to 80 years old?

The problem not ended there. At this stage, you are entering into most crucial part of your life whereby your kid’s education expenses start to run. If you are lucky, your kids should be entering working life, but if you are not, your kids might be at the peak of their university level whereby they need most of the financial support from you. How much education expenses you really need nowadays? For your information, I spend a total of RM60K to get my degree in local colleges that is including college fees, accommodations and general expenses. Cheap? Yes…but this is back in year 2000. In today’s value I believe it should be more. Assuming inflation rate is running at 10% per annum that means every 7.2 years the expenses should be double. So the amount expected at today’s value easily reaching RM150k for a general degree course including schools fees, accommodation and general expenses. So how many kids you have? If you are having big family say 3 kids that mean you need to prepare around RM500K provided they are not taking expensive course like doctoral or engineering courses. But if they did so, you better eat less to support them. Bear in mind, your responsibility is not ended even though they had completed their degree. They still need your financial support especially when they found a job that pays insufficient salary to support their basic life. Sometimes when I think back, life is not as easy as we always thought off. Even with so many properties in hand, I still feel the pressure of life and the feeling of insecure. What more those who didn’t buy any properties!! What will happen? I don’t even dare to think of it.

After tiring and hard work of more than 30 years, it’s a normal that you thought of enjoying life. Enjoying here referred to wake up early without worry that your sales target is not met. Without pressure from your employers about your works and of course your current life style is sufficiently supported by your savings and asset especially from your rental portfolio. Are you able to achieving all the above within your entire working life? Please do so as you have not much time in your life accumulating enough solid assets to support your non-working life whereby the expenses are much higher. Just to share with you, my supervisor who is entering his retirement life few years from now is pressured by higher management to achieve higher sales target. Do you know he has not much choice but to accept the challenge? Sometimes I also had sleepless night thinking of the endless target been given and the worst when this target start from zero every new month and quarter. I always ask myself, how many times in our life we are so motivated to consistently upbeat sales target given every month for the next 25 years?

Endless target!!
I bet, not all the times we would achieve it. Some of the month we definitely will miss the target given. So is this the life that you are having now? Sleepless night if sales not achieve? Why not pressured yourself by accumulating more rental portfolio properties and I bet your pressures will gradually decreasing in the near future. I hope 3 years from now I can accept less pressure job with less pay knowing my asset has upbeat my earning and I can stay financially free while enjoying helping people building solid properties asset. I also hope majority of you will enter your ‘golden’ years with smile in face knowing all your plans will work well once you stop working at the age 55 or earlier. After all life isn’t just work and make other people richer!!


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