Invest Made Easy
How Much $$ Is Enough???
Shane My
Publish date: Fri, 01 Mar 2013, 12:52 PM
Shane My
0 271
Like many of us, we seek for financial security and ultimately financial freedom. This blog is intended to act as a journal of investment as I journey towards that dream. At the same time, I hope that the articles written here would also benefit many others who share the same vision as me.
A friend of mine asked me how much should he start investing in order for him to retire comfortable at the age of 55? Apart from the EPF he is already contributing, he would like to have an alternate investment that could supplement his retirement lifestyle and at the same time ensuring that his next of kin would be able to inherit additional cash when he passes on.
From our conversation, he has agreed to share his personal details in my blog and wants to be known only as Friend X to the readers.
Now let's begin with the basic information of this friend of mine:
Name : Friend X
Age : 35 years old
Expected Retirement Age : 55 years old
Yearly Drawn Salary : RM72,000
Expected Yearly Expenses After Retirement : RM60,000 (based on current lifestyle)
Inflation Rate : 5% per year
Initial Investment Amount : RM3,000
Investment Objective : How much should Friend X invest monthly starting from now in order to meet his expected yearly expenses after retirement?
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Be the first to like this. Showing 4 of 4 comments
Setting a target is better then to have none. Unless that person is already financially free.
2013-03-01 13:00
I believe in as much as possible. Sky is the limit. If you can make a trillion, why limit your own talent?
2013-03-01 13:15
First we start with self believe then setting goals. Once you've reached the goal...set a higher one till you reach the "sky".
2013-03-01 13:28
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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
lotsofmoney
Silly question.
2013-03-01 12:57