Ill Prepared For Retirement
Retirement bring about thoughts of new plans, new freedom and a phrase of life that many look forward to. According to a recent survey, the results which we published in a local daily:
79% say health and well being is most important after retirement
39% say it is important to remain active
51% intend to travel
37% want to spend more time with family
Among the current retirees, this was what the same study found.
27% unable to do the things they like to do due to financial constraint
67% say the main source of income is contribution from their children
44% already eroding into the principle of their savings
37% not confident of having enough to last their retirement years and plan to return to workforce
Based on the survey and from articles from the EPF, a large number of people will be disappointed when they retire.
The 20s think they are too young to think about retirement.
The 30s & 40s tend to believe they are doing enough with EPF.
By 55, it’s just too late…..
