Blog: Low salaries lead to insufficient retirement savings, says economist

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7 comment(s). Last comment by EngineeringProfit 2 months ago

ks55

4,305 posts

Posted by ks55 > 2 months ago | Report Abuse

You need liquid asset around 120 months equivalent to 10 years last drawn salary to retire with quality of life not less favourable than what you enjoy prior to retirement.

How much would be your last drawn salary?
Very easy.
If you are earning 1k at 30 year old, you should be earning around 10k a month at 60 year old. If you earn 5k now, 30 years later you will be earning 50k a month.

For those at 30 year old earning 5k a month now, you will need 6 million to retire by 2055.

ks55

4,305 posts

Posted by ks55 > 2 months ago | Report Abuse

A quick check here. For those who are 60 now, what is your last drawn salary.
How much was your salary 30 years ago.
What is your nest egg right now?

ks55

4,305 posts

Posted by ks55 > 2 months ago | Report Abuse

Go for individual level, no point talking about the national issue.
What is your age now? How much you are earning? Can you save enough for retirement?

Najib has billion ringgit ill-gotten wealth, but he will not give you a single sen.

JJPTR

207 posts

Posted by JJPTR > 2 months ago | Report Abuse

LOW SALARY because $100m siphon off by one Sabah corrupt politician, tens of thousand of similar cases last 30 years. Company profit margin squeezed by 10-20% corruption pay out. Suddenly MACC very silence on latest Sabah corruption case

eastern_joy

126 posts

Posted by eastern_joy > 2 months ago | Report Abuse

KRI report says retiree need RM1K per month for retirement. Enough kah? "It also assumes that Malaysians only use RM1,000 per month for 20 years.". The politicians pensions are easily RM10K and above...(https://www.thestar.com.my/news/nation/2024/09/26/over-90-of-epf-members-under-30-do-not-save-enough-for-retirement-says-report)

EngineeringProfit

20,661 posts

Posted by EngineeringProfit > 2 months ago | Report Abuse

That's the meaning of economic inequality..........................................Itu macam jangan halalkan

EngineeringProfit

20,661 posts

Posted by EngineeringProfit > 2 months ago | Report Abuse

But no worries. These people can sue the government. Failing to equip public school students with the skills needed to navigate the complexities of the digital age expose governments to legal action.

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