Wednesday, January 20, 2010

How to get RM1 Million for your retirement?

Today, I'm going to share with you a personal financial secret that 99% of people in Malaysia don't know about it. It's about your retirement. Have you ever think of your retirement? Most people don't. So, you better start thinking now or you will have to work until you die.

This knowledge I got from book called "Jutawan dari Planet Jupiter". Guess who is the writer? Azizi Ali again. Thanks to him. The secret is if you are 20 years old and you start saving RM155 every month until your age is 55 years old, you will accumulate RM1 Million in your saving account. That money is more than enough for your entire life. Assuming annual interest of 12% which is very reasonable and it is possible!

But, if your age is 30 years old, you have to save RM532 monthly in order to get RM1 Million at age 55. The bad thing is if you are 40 years old, you need to save monthly by RM2001. That amount is a lot for me. Things get even worse if you are 50 years old, you need to get RM12 244 every month for your RM1 Million retirement. That is almost impossible to do.

So, where to save the money for your retirement? The are many answer to that question. But one example is in unit trust. It can be ASN, ASB, Amanah Wawasan 2010 or Public Mutual.Those unit trust can really make you happy when you are 55. Take your action now!

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