Sunday, May 30, 2010

saving concept vs FD -2

I pressed ING website last nite (actually more than N time):

I searched ING easy for retirement, it show like this:
Present:-
Average Link-house : RM 180,000
Glass of Teh Tarik: RM 1.30
Visit to clinic: RM 30
Annual College Fee: RM 9,500 (more private or government)
20Years From Now:-
Average Link-house : RM 454,851
Glass of Teh Tarik: RM 2.49
Visit to clinic: RM 63
Annual College Fee: RM 23,575 (more private or government)

When I read this, I was so shocked! My goodness, is this the amount that I have to pay to my children & family expences?

(The following is a demo example)

Name: A
Age: 26
Expecting retire age: 50
Current income: RM 30,000
Current Saving per month: RM 500 (included investment, piggy bank and so on except EPF)
Current EPF: RM18,000
Investment Style: Conservative (Have 3 style: Conservative, Moderate, Aggressive)
Graph shown: You will have net saving RM 557,035 on 50 years old. But will finish around 10 years in future.
Additional Money you required until 85 years old: RM 1,254,531 (Around RM 1.2 million)

Are we preparing the additional money for future retirement now?

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