A friend of mine asked me how much should he start investing in order for him to retire comfortable at the age of 55? Apart from the EPF he is already contributing, he would like to have an alternate investment that could supplement his retirement lifestyle and at the same time ensuring that his next of kin would be able to inherit additional cash when he passes on.
From our conversation, he has agreed to share his personal details in my blog and wants to be known only as Friend X to the readers.
Now let's begin with the basic information of this friend of mine:
Name : Friend X
Age : 35 years old
Expected Retirement Age : 55 years old
Yearly Drawn Salary : RM72,000
Expected Yearly Expenses After Retirement : RM60,000 (based on current lifestyle)
Inflation Rate : 5% per year
Initial Investment Amount : RM3,000
Investment Objective : How much should Friend X invest monthly starting from now in order to meet his expected yearly expenses after retirement?
READ THE FULL ARTICLE HERE
lotsofmoney
Silly question.
2013-03-01 12:57