Recently, Channel News Asia (CNA) released a video – ‘Very Few Malaysians Can Afford to Retire. What Went Wrong?”. Of which, it highlighted the following:
– About half of contributors below 55 have <RM10k in their EPF accounts
– According to EPF officials, only 4% of Malaysians can retire.
Subsequent to the video, the HSBC Quality of Life report was published and has revealed that after surveying 200 mass affluent Malaysians (individuals who are now owning US$ 100k – US$ 2m in investable assets) are concerned about their retirement. Their top 3 concerns are
– Decline in physical health
– Higher healthcare costs
– Inflation
In order to tackle this issue, Mr. Yap Ming Hui, Founder and Managing Director of Whitman Independent Advisory Sdn Bhd shares:
– The current realities of retirement funding in Malaysia
– Inflation & its impact on retirement funding – What You Need to Know
– Financial planning challenges in retirement funding
– Reevaluate retirement funding approaches – the traditional way
– The practical approach to retirement funding
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