Wednesday, October 22, 2008

Retirement Vs Inflation


http://www.flickr.com/photos/kt/56580816/

The
Malaysian Insider reports:

[ It's hardly a surprise, but an increasing number of Malaysians consider their retirement savings insufficient.

Their pessimism is not without justification. Although Malaysians - like all Asians - have a high propensity to save - 72 per cent claim they do save for retirement - their current savings behaviour shows a lack of proper planning, according to PAM chief executive Bill Lisle.

Few Malaysians are focused on saving for retirement. Forty-one per cent put aside as much as they can, hoping it will suffice - but nine out of 10 would dip into retirement savings if they had to.

This undisciplined approach is compounded by a lack of retirement products, Lisle said, adding that the government ought to provide more tax incentives so people are prepared to take responsibility for their retirement needs.

"We should aim to enjoy, rather than endure, retirement," he said. But he acknowledged that few Malaysians want to worry themselves about it now. ]

Many of you readers here will not be interested in this topic as you are young and have many years ahead of you to think of retirement and its problems.

Lisle is not correct in blaming the retirees (I included) for "the undisciplined approach". It is more of the lack of "education" towards the importance of savings for retirement. Hopefully, with the recent terrible/tragic economic events around the world, young people will be better prepared.

As for me, worry cannot solve any problem. At the rate inflation is going I will not be able to last for very long!

Have a nice day.





7 comments:

monsterball said...

Me too!
But I am much older than you..so i am prepare for anything.
My only wish...before I go see Rose Chan...Malaysia have a change of government.
Hope Malaysians can be brave...be logical...and vote for changes...long overdue.
After at least two terms..no good..change it again.
Once Malaysians learn this...then politicians will hold high respects...to them...just like in USA.
For goodness sake...don't be afraid or be a "yes person"...with no dignity and principles in life.
Many smart racialists from UMNO....MCA...Gerakan...trying hard to twist and turn...making your decisive vote for change to..."perhaps"...."maybe"....with smart agree to disagree tactics.
Do not fall into the traps.

dolittle said...

Since the monster is insinuatng again. Justin, Dolittle ask Gerakan to quit BN , not to stay and help UMNO. Does that make Dolittle a supporter or UMNo? He is spenidng time and money to travel to convince people to et out of BN, so this type of insinuation is just personal.

dolittle said...

That person is UMNO of the blog.

dolittle said...

take another case.

Malaysia is one of the members of United Nations. Suppose UN decided to attack Iraq, but Malaysia objects to it but to no avail, does that make monster a part of the attack , too, since he is a Malaysian citizen?Does that make you Justin part of the killing party in Iraq? WHy didnt Monster and Justin renounce your citizenship to protest Malaysia's inertness in UN?

Samelogic but on a smaller scale.

when you look at things, it is not as simple as what he is trying to twist and turn to blacken people's name, just because he was once politely asked to leave somebody's blog due to his own actions.

dolittle said...

what dolittle is trying to do is to bring Malaysia out of UN in the above fictitious case, so that it can help strengthen another world body if some nations start it, so that some superpower cannot exert their hegemony all the time.

He claims that he is clever, and yet he purposes twist his facts to poison someone's else name. What religion is he practising?

SB perhaps.

dolittle said...

what dolittle is trying to do is to bring Malaysia out of UN in the above fictitious case, so that it can help strengthen another world body if some nations start it, so that some superpower cannot exert their hegemony all the time.

He claims that he is clever, and yet he purposes twist his facts to poison someone's else name. What religion is he practising?

SB perhaps.

cilyhot said...

Justin.does mr dolittle's comments means I can do so in PEACE OF MIND?May I?

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