The implication of ageing population is that government's spending on health care and welfare will increase and this will means that the allocation for other sectors which equally important such as education, health care would probably need to be reduced. Studies have shown that the source of population ageing lies in the decline of birth rate as well as increasing life expectancy. Family planning, man and women not marrying are all factors that contribute to declining fertility rate while improve longevity is caused by advances in nutrition, medical and health.
According to United Nations, Malaysia will experience ageing population in the year 2019. Therefore, it means that we have approximately 20 more years to prepare and address this phenomenon after which time the rate or our ageing population will increase dramatically.
When we are old, just like the young, we need roof over our heads as well as food and clothing. If we are unlucky, we will require proper care and assistance from others due to our physical limitation or illness.
As preparation for our retirement, we need to be able to save or invest for our old age and because of that it is crucial that we need a vibrant economy in long term. Continuous economic development will increase our earning. The younger we can save and invest the more return we will able to secure for our more comfortable living in the old age. Nowadays and more true in the future, even if we are a parent, help is hard to come by as our young who want to take care of us need to go out and work to earn a living. Being a parent or not, we need to pent for ourselves rather to hope for others including the government when the time comes for us to shelter ourselves.
Que sera sera..the future may not be ours to see but don't let us be the one who push the trolley in the alley.......ermm it rhymes
Can we guarantee that we can live comfortably in the future?
Can we guarantee that we can be healthier in our mind, body and soul at this age?
4 comments:
Ok, i'll take it. How much does this insurance/fixed deposit cost?
Raden putra>> as most of us (except the government servant in which being covered by the pension fund) has been contributing to the EPF, the important question to be asked now is, how much money per month do we need for us to be comfortable when we retired. If in the year 1980s, RM700 per month may be sufficient it may not be so say in 2020. How are you going to have that "much" money is up to you….it can be by way of buying unit trust or buying property for investment and as you have mentioned, buying insurance. As I said, the question of how much will depend on your life style taking into consideration also the factor of inflation. We need to know the present value and future value of our money: the present value answer the question of how much money is a Ringgit that will be received in the future, worth today.
Talking about inflation we need to look at Consumer Price Index (CPI). The price of 1 certain pack of cigarette in 1990 was RM2.20 yet the same brand in 2007 was RM8.20. 600g of beef in 1970 cost RM1.00 and in 2008 it was RM14.00. As long as we live we need the items in the "basket of necessity" such as water, food, home, electricity...and because of that we must have the answer to what is the cost of monthly necessity over monthly income.
All in all, we need to manage/spent our present and future income VS present and future expenses
...however it is...i have to admit i also suck in this kinda of thang called basic financial management hehehe...
ah, good thing we can have cheap cigarette ere in Swk... er, bak sebatang!
Grafique >> camna nak bagi sebatang, nak hisap pung tapau org nyer baik, punyer tips penjimatan kan kan kan.....hehe
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