Retirement Planning

Retirement Planning

This is crucial.... okey i will try to prepare my own financial planning for my retirement.

Let see if i retire at the age of 55 and i were to live up to age of 75 (normally woman have long life than man, i could be dead at the age of 80, but based from family history, 75 should be the age i leave this world. 

Monthly expenses:-

1) Food - RM 15/day x 30 days = RM 450.00

    - I don't really eat much even now, this can be lesser than that. 

2) Petrol - RM 200.00

    

3) Utilities - RM 350.00

    - I will have to unsubscribe my Hypptv so i can reduce this.

4) Medical - RM 10.00

    - Government clinic & hospital only

5) Contigency - RM 200.00

    

Total expenses per month = RM 1,210.00

If i were to live for another 20 years after my retirement:-

           RM 1,210.00 x 12 x 20 = RM 290,400.00

What i need, a saving of minimum RM 300,000.00 before my retirement... 

So ok, starting today, i need to save more... less spend on unnecessary things especially clothes, bags & shoes... enough. 

Hopefully i will reach the target... if not i have to find a job to do after retirement to support myself. 

But anyway, rezeki itu milik Allah.