It is basic compounding mah....!! With basic interest return of 3.5% pa
If u earn Rm 2k per month after graduate & your increment is just average 4% pa...i bet after 35 yrs of working...just your epf will have more than Rm 100k after retirement loh...!!
Posted by silom > May 25, 2019 5:17 PM | Report Abuse
epf allows one to do self contribution up to max 60k per annum, can save there too for the fresh grad, and think can get around 5.5% to 6% dividend which is much better than FD which is only around 3% .. can also withdraw for housing when needed.
qqq3 11255 posts Posted by qqq3 > May 25, 2019 5:17 PM | Report Abuse
raider..only u trust insurance salesmen and unit trust sellers.........and your compounding....
Posted by ks55 > May 7, 2019 11:12 PM | Report Abuse X
If you are 24 yo today, how much is your expected salary when you are at 60, i.e. 36 years from now?
For dumb-dumb, you will expect yearly increment of 4%. For average or slightly above average, yearly increment 8%. For high achiever, yearly increment 12% to 15%.
Say if you are with average performance, effective increment 8% yearly taking into consideration 4 promotions/job switch through out your working life, you are expecting 16x your current pay.
If you are earning 3k now, 36 years later (if you retire at 60), you should be earning 48k a month. Based on last drawn pay at 48k, you need 5.76m equivalent to 120 months of last drawn pay.
If you are spending 60% of your income, when you retire at 60, last annual income is 576k. 60% means 345.6k a year. If you can generate 10% to give 576k a year, you will be very much prepared for inflation up to 4% a year.
Planning for retirement is not calculate based on what you need today, but to be contemporaneous to the time of retirement.
Public mutual agent always said dollar costs averaging ...continue buy even if down or up for longer period of time so when retire will have enough money for retire as the price per unit will lower
any good wisdom people can advise ? buy into unit trust is it good ?
Buying unit trust is relatively safe compared to investing directly in the market. However, there are a few provisos, 1) unit trust costs in commission must not be more than 2%, 2) you are patient enough to wait for a longer period of time to see profit, 3) invest in the correct fund at the right time
You don't count 42 year , you count 20 year and 10 year see , you will cry no tear , rubbish race make rubbish company make rubbish economy , Malaysia rubbish ! But I agree with you 95% investor can't beat market . Invest in US index iis good choice!
Basically, this guy expects everyone to give an anonymous app access to their savings account LOL :) later they will blame the bank for their lack of security when someone cracks the app and takes money out of the account :)
100k enough kah marriage atleast 25k, provision after bla bla... if you have decent lifestyle.. humble2 one.dont greedy2...ermm can la maybe...but if suddenly fiat money become useless..u need to thikn other backup laa bro
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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....
(US/CHN trade war doesn't matter) Philip
4,792 posts
Posted by (US/CHN trade war doesn't matter) Philip > 2019-05-25 15:40 | Report Abuse
Which index fund is this? Who guarantees the fund of it is kept in a central CDS account? If kupang2 closes down, who gets their money back?
Finally, how do we know you are not using the money to invest in drugs, women and guns? Who is the third party monitoring? Who pays them?