Are you ready to retire Young & Rich?

Has this ever crossed your mind? Your response? Look no further, the answer is right staring within you. Logically speaking? Well, let’s give this test a go shall we, How long will my retirement savings last? Say you want to retire at 40, and you’re projected to live until 70. To make more mathematical sense:

Expected number of years of retirement = 70 - 40 = 30 years!!!

Now, are you happy with your result?

Let’s face bigger questions:

1) Is our savings & KWSP sufficient ? (NB/ this calculation not even consider medical expenses at that age –especially if we do not own any medical insurance. But even if we do, do we know how much is our country inflation rate for medical expenses?)

2) Is our investment vehicle doing good enough? What investment vehicle to use so that our money will not be swiped away (in value sense) by inflation?

3) Are we satisfied with the recommended withdrawal amount (say it is monthly basis withdrawal)?. Should the value proposed lower than our expected monthly expenses (after inflation is being factored in of coz!!), are we willing to lower our standard of living?

I cringe every time I hear people say ‘bestnye kalau aku menang sejuta, kaya aku, takyah keje dah sampai bile-bile’. Can a windfall really change people’s lives? EPF officials have been quoted saying that people who withdraw their savings in a lump sum upon reaching the age of 55, tend to spend their savings off in 3 years!.

Redefining competition...

Is competition a bad thing? As far as 'orang kita' mindsets are concerned, sadly, the answer is always yes. Most of us are forced/molded to believe that we should not even position ourselves to the war of competition. To play it safe all the time. And even when the situation forces us to fight in a fair ground, we choose to do it with many exceptions… For arguments’ sake, let’s observe the following scenarios:

1) Why is the imported cars cost more here in Malaysia than other countries in the world?. It’s for the sole reason that gomen is protecting our national car, shameful Proton. If only we are paying Honda City / Toyota Vios at their actual market price, would you (those in the right mind) even giving Proton WAJA a second look? As a result, consumers who bought ‘outside’ cars were deliberately punished to pay more!!

2) Look at the UiTM 10% non-bumi issue, and how the political morons make it look like we should be in a war of protecting ‘orang kita’ rights. Why can’t the student be taught to face the real competitive world? No wonder majority of them failed to fit the job market. They will not go far with this closed-minded attitude. Stop blaming who’s dominating the market, but ask ourselves what does it takes to be in the ‘game’? Read no further if you already set your mind to settle as gomen servant.

3) Ever listened to XFresh FM? ‘Kami tak hot, kami cool’? They claimed to air 100% Malaysian music. They are the perfect example of a bunch of people who doesn’t welcome competition. What’s wrong with Indonesian song? How come the industry welcome English songs (we have Hitz, Mix, Fly –which mostly played international songs and they’ve never been labeled as not being patriotic) Oh.. now I got it… It’s because they have no direct influence to ‘orang kita’ rice bowl. Music is universal. You don’t label music as you label people!!

I learn my lesson well by watching Beijing Olympic games. To win is not to make the least of the opponents, not to make you feel more superior than other people, but to be better than you used to be!!

*signing-off*