tag:blogger.com,1999:blog-8319442391838143892.post8169227921003134729..comments2024-03-19T19:57:20.919+08:00Comments on My Very First Blog: How Much Do You Need For Retirement?foongpchttp://www.blogger.com/profile/09592884550810521137noreply@blogger.comBlogger34125tag:blogger.com,1999:blog-8319442391838143892.post-14575688994626081872008-10-16T23:19:00.000+08:002008-10-16T23:19:00.000+08:00faisal admar, yes, you are doing the right thing. ...faisal admar, yes, you are doing the right thing. Keep it up! : )foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-65326621668589646252008-10-16T01:34:00.000+08:002008-10-16T01:34:00.000+08:00that is why i want to save in my asb to the max. 2...that is why i want to save in my asb to the max. 250k here i come!Faisal Admarhttps://www.blogger.com/profile/10670555138520564356noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-32080754466170945782008-10-09T23:25:00.000+08:002008-10-09T23:25:00.000+08:00jam, I'm sure with proper planning, you can still ...jam, I'm sure with proper planning, you can still be able to enjoy your travelling, entertainment, good food etc. You just have to cut down on some not very important expenses and start working harder or find other means to earn more money! : )<BR/><BR/>johnny ong, I guess that's the only consolation. Imagine if we still spend like how we spend now, it'll be even tougher to accumulate enough foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-17449481504921554272008-10-09T00:42:00.000+08:002008-10-09T00:42:00.000+08:00yeah, the amount required per month will be much l...yeah, the amount required per month will be much lesser as we won't be spending that much and will be living a more modest life instead of our present energetic lifeJohnny Onghttps://www.blogger.com/profile/06368538590359769938noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-89657633310723645962008-10-08T18:35:00.000+08:002008-10-08T18:35:00.000+08:00Alamak! That's a staggering amount of 1 million. H...Alamak! That's a staggering amount of 1 million. How am I going to save that? There will be no entertainment, no traveling, no good food, no gf... Oh, life is miserable...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-26180914897033417422008-10-07T10:59:00.000+08:002008-10-07T10:59:00.000+08:00lina, wah, got land in Terengganu some more, not b...lina, wah, got land in Terengganu some more, not bad. Yes, a good idea to move there during your golden years to cut down expenses : )foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-86916054496982469042008-10-07T10:56:00.000+08:002008-10-07T10:56:00.000+08:00tekkaus, wow! You are such a great dad! Your famil...tekkaus, wow! You are such a great dad! Your family is really very lucky to have you! But please remember not to sacrifice too much for your children because I'm sure you've heard of children who do not appreciate their parents' hard work bringing them up. <BR/><BR/>You should really try to include yourself too in your budget. That is, plan for your children's education by all means, but also foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-85916151306850646652008-10-07T10:51:00.000+08:002008-10-07T10:51:00.000+08:00jacqueline, yes if young people as early as 20 yea...jacqueline, yes if young people as early as 20 years old start planning for their retirement, they would have it done much easier. Unfortunately, retirement is far away from their minds so we need to educate them.<BR/><BR/>bengbeng, go get the car if it's really really necessary. Otherwise, don't cos you know car is a liability and the value drops starting from the day you own the car.foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-83908331657453937262008-10-06T13:31:00.000+08:002008-10-06T13:31:00.000+08:00@foong,I'm thinking of buying one house for re...@foong,<BR/>I'm thinking of buying one house for rental purpose down the road (when and if I can buy that low cost apt I've been eyeing for as it has good returns) and maybe a new house that is nearer to Raimie's school. Cannot afford to buy a lot of property lah... where got money. hehehe... (Maybe if I win that RM20mil jackpot eh?) LOL<BR/>& we do have a land back in Terengganu,linahttps://www.blogger.com/profile/17273605189937933589noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-54924426896605247132008-10-06T01:26:00.000+08:002008-10-06T01:26:00.000+08:00It's good to plan but sometimes budgeting just don...It's good to plan but sometimes budgeting just don't seems to work. I thing I would have to put my family and children 1st. Retirement is only for myself if I do have that extras. As long as my children are successful when they grow up and even if they broke my bank to fund them to uni...I'm fine with being "living homeless". Seriously! =)Tekkaushttps://www.blogger.com/profile/12433320698714867028noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-70069645384964669082008-10-05T23:33:00.000+08:002008-10-05T23:33:00.000+08:00Mrs BB needs a car toobut we decided to hold on an...Mrs BB needs a car toobut we decided to hold on and see firstBengbenghttps://www.blogger.com/profile/17125654531487342492noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-72723090731135512422008-10-05T19:07:00.000+08:002008-10-05T19:07:00.000+08:00A message to the young...Please, please, I beg of ...A message to the young...Please, please, I beg of you, start planning today, right now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-77603337384923511672008-10-05T18:18:00.000+08:002008-10-05T18:18:00.000+08:00eastcoastlife, to catch up with inflation, you hav...eastcoastlife, to catch up with inflation, you have to save in funds that can give you returns that is higher than the inflation rate. This not enough money issue reminds me of the movie I just saw recently called "Money No Enough 2" directed by Jack Neo from Singapore. Wonderful film - have you seen it?foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-47545044333583333342008-10-05T18:07:00.000+08:002008-10-05T18:07:00.000+08:00Yes lina, I agree having properties and renting th...Yes lina, I agree having properties and renting them out will definitely provide good income in our golden years. Good thing you'll be finishing your mortgage payments in 2 years time. How many more properties you are planning to own down the road? : )foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-89170798613671353862008-10-05T17:44:00.000+08:002008-10-05T17:44:00.000+08:00No matter how hard I save, my money is turning int...No matter how hard I save, my money is turning into banana notes! Cannot catch up with the inflation lah!eastcoastlifehttps://www.blogger.com/profile/13578276762751929226noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-62360768396554304482008-10-05T16:32:00.000+08:002008-10-05T16:32:00.000+08:00well, we do have Jabatan Kebajikan Masyarakat, tho...well, we do have Jabatan Kebajikan Masyarakat, though they only give assistance to needy & old folks & it's not automatic assistance.<BR/>Just putting your money in the bank is definitely not enough. You also need to consider passive income generator such as real estate. Having a few properties may help in terms of income in old age when you rent them out, IMHO.<BR/>& make sure linahttps://www.blogger.com/profile/17273605189937933589noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-17195947001770988502008-10-05T14:58:00.000+08:002008-10-05T14:58:00.000+08:00health nut wannabee mom, thanks. Yes, start coming...health nut wannabee mom, thanks. Yes, start coming up with a plan now to reach your targeted goals for retirement. The earlier you start planning the better : )foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-73672683062354798382008-10-05T14:51:00.000+08:002008-10-05T14:51:00.000+08:00suituapui, yes we should of course buy insurance a...suituapui, yes we should of course buy insurance and property. We should also have savings in EPF. All these are important and will definitely contribute to the money we need for our retirement. <BR/><BR/>Properties are assets while cars are liabilities. So no point buying expensive cars. <BR/><BR/>And very true, don't ever get involved in get rich quick schemes. <BR/><BR/>But we have to start foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-77181476423278729982008-10-05T12:23:00.000+08:002008-10-05T12:23:00.000+08:00This is depressing because I looked and am way, wa...This is depressing because I looked and am way, way, way behind. I better think of something and fast. Great tip!HEALTH NUT WANNABEE MOMhttps://www.blogger.com/profile/00091372418641843957noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-16690255704060444772008-10-05T07:22:00.000+08:002008-10-05T07:22:00.000+08:00P.S. If you can afford the down payment and the in...P.S. If you can afford the down payment and the instalments, get a loan and buy a house! Tighten your belt, in the meantime! The value of houses keeps going up by leaps and bounds! Don't waste money on fancy cars!!! The moment you drive it out of the showroom, the value has depreciated!!! <BR/><BR/>And if you get married and have kids, it will be good to take up an education policy for each kid. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-41566275587192063932008-10-05T07:17:00.000+08:002008-10-05T07:17:00.000+08:00Be more optimistic! Gee! Why are people today so p...Be more optimistic! Gee! Why are people today so pessimistic? Something is better than nothing! I heard A LOT of horrible stories about EPF...but when I went to take mine out, I was pleasantly surprised that my small 10-year contribution had grown so substantially. <BR/><BR/>Of course, the returns from insurance policies are small...but u get protection in the meantime and if you do not buy, are Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-26249982949303876712008-10-05T01:23:00.000+08:002008-10-05T01:23:00.000+08:00suituapui, you are right. Buying insurance does fo...suituapui, you are right. Buying insurance does force us to save. However, insurance is more for protection than for saving as the interest rate is rather low. Medical card is important as it helps us to cushion financial burden in case of illnesses. EPF also help of course, but the current rate for EPF is below the current inflation rate, so we are in fact losing money.<BR/><BR/>molly, don't we foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-48214474838103320692008-10-04T17:04:00.000+08:002008-10-04T17:04:00.000+08:00Saving and non stop saving. I wonder when can I r...Saving and non stop saving. I wonder when can I really enjoy myself with my money. I wish I am a multi-millionair with no worry about money, and off course without any health problem also.mollyhttps://www.blogger.com/profile/05694628778540407617noreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-83407300033514085032008-10-04T12:32:00.000+08:002008-10-04T12:32:00.000+08:00Buy some insurance policies to ensure you have for...Buy some insurance policies to ensure you have forced savings! <BR/><BR/>And there's ur EPF as well, which can be quite substantial. I only contributed for 10 years before I joined the pension scheme and at 55, I took out my portion only (Pensioners not entitled to government's contribution) plus the annual premium...and I got about half of the RM96,000 in your calculation...but I got a fair bit Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8319442391838143892.post-24947918140681481182008-10-04T10:10:00.000+08:002008-10-04T10:10:00.000+08:00eiling, you are so lucky can enjoy expensive food ...eiling, you are so lucky can enjoy expensive food without paying for it! Well, as long as your output is less than input, you should be doing fine : )foongpchttps://www.blogger.com/profile/09592884550810521137noreply@blogger.com