Thursday, March 19, 2009

What Type Of Lifestyle Do We Want?

A few months ago, I saw in the newspaper that some professional financial consultants and planners were saying that in order for a Malaysian to retire, he or she needs to have at least RM1million in his or her bank account.

I do not know how far this is true?! However, I am wondering what would happen to those who do not have that amount of money in their bank account? Can they retire? Just take an example of the labourers or clerical staffs, how much do they earn per month? Will they be able to save RM1million for his retirement? I remember there was an incident where a Judge in a competition asked the young contestants of the contest how many years would they take to earn one million ringgit? The key word used by the judge here is "EARN" and not save! The young contestants were stunned and do not know how to answer him.

I am not under-estimating the professionalism of the professional financial consultants and planners, however, I just wish that they will not simply publish or announce their " suggestions or proposals " in the newspaper. I understand that the ultimate aim of all these professionals were to help their company to market their products. However, I am more worried about the side effects of the announcement! Will it create fear or panicky situation for those who are unable to earn that much for retirement? Will corrupt practices increase in our society if people can't achieve the propose RM1million target for retirement?

What type of lifestyle are we looking at for our retirement? We have to define our own ideal situation and no one can help or stop us from achieving it. However, I believe whatever lifestyle we have decided, we must ensure that it is a right livelihood so that we don't live in the shadow of "Fear ( CANNOT eat and sleep well )" for the rest of our life!

May all Malaysians be well and happy all the times!

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