It’s already quite rare to find people who are actively planning their retirement.
Nope, your existing KWSP contributions don’t count. You actually need more than the monthly 23% you are contributing if you intend to upkeep your existing lifestyle after you receive your last paycheck, and provided that post-retirement inflation don’t screw up your plans.
One of the most overlooked factor in retirement- your health.
Yup, even with the best retirement planning strategies, you might not be able to enjoy the millions you have accumulated in your retirement nest. There’s hardly any use of the money you have in the bank if you can hardly move around much. You might end up using your hard earned savings for medical bills.
Health-deteriorating activities will also works against your retirement goals. For instance, smoking is one good way to destroy your lungs, if the pollutants in big cities hasn’t already done so. Not only are you spending quite a sum in your daily cigarette consumption, you might also be spending alot of money on lungs related medical expenses after you retired. There are better ways to invest in tobacco, such as buying tobacco counters like BAT which gives great dividends (on the expenses of other smokers).
And like any good retirement strategy, strategies for good health should be implemented as early as possible.
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