Today I was in Nirvana 2 (NCKL) to submit credit card change form to the customer service. We reached the basement parking, and then walked towards the lift lobby. The customer service is located at M1 floor. While waiting for the lift to come to B1, there is a TV display at the lobby showing wake service currently held at Nirvana 2’s parlour. What caught my eye is a 27 years old deceased and a 98 years old deceased’s wake. Rest in peace is what I said in my heart.
Passed away at the age of 27 is really very very young, and this remind me again that life is unpredictable. Be grateful on every morning when I wake upwhich means I am still alive and treasure the important good people around me. Try to forgive those that hurting you before, yah sometimes is is easy to say than do. And yah angry of someone is just hurting ourselves, it is true but emotion, it really need a strong Will Power to control it instead of let emotion control us.
Another wake is an elderly age 98. Live until age 98 is very long life. Imagine this, unless you are wealthy, else imagine how much retirement fund we need to maintain our life till then. For most working people, let say we work at the age of 23, till 60 years which is the official retirement age in Malaysia as of writing. We work for 37 years, then we live another 38 years till 98 years old. Do we have enough money after retired to main our life for another 38 years? Or even 20 years till age 80?
That why it is good to plan earlier for the retirement fund, instead of either rely on your next generation (for those have childrens). Why want to put extra burden for them if we have the power to do something now!
In very high level of what I can think of for retirement planning:
- Calculate how much we need per year to maintain our lifestyle after retire (taking in inflation as one of the factor)
- Calculate total required by estimate how long will we expect to live, of course no one will have exact answer. From the goverment statistics, average age across all ethnic groups is 72.5 years for Male and 77.4 years for Female. You can refer here for latest statistics, I thnk it will have updates every year.
- Calculate how much per month that you need to save to have the total retirement fund at your retirement age.
It is time for me too to really re-visit and have more proper calculation and planning.