Retirement Pension Plan in Malaysia

Life is full of possibilities and once you are finally free from the commitment of 9 to 5 hours, you can finally take that long-awaited rest you have been dreaming of and turn your focus on your savings. Managing them is one thing, but dealing with what to spend on them is another. So, what retirement plans Malaysians usually accustomed to?
1) Health Plan
Getting the best health plan in the country is found to be one of the significant. Malaysians will normally go for various insurance and health packages that does not just covered the individual but will also covered family members as well. Various health plans such as AIA, Prudential, Zurich, and Great Eastern provide different benefits that will ensure the security of you and your family’s life throughout your retirement days.
2) Investment Role

A lot of retirees have a lot of time in their hand that having no work at all seems a bit dull. Hence, investment is the best and beneficial way to spend on – but with cautious in mind as an investment is a bridge that can go both ways; stand or crumble. There are plenty of investing opportunities to choose from CIMB, OCBC, Public Mutual and several online investing mediums that are kicking off the platform as well. Investing becomes an increased trend among retirees because it will help for better assurance in the near future; a plan B for the current savings in hand for reassurances for the family.
3) Vacation Go!
What is retirement without a little dose of self-pampering, right? Holiday plans are always a way to go, either for the individual alone or get away with the rest of the family. Especially with backpacking is going in trends with cheap holiday packages, seeing the world has never been so convenient and fun. Air Asia is one of the top airlines in Malaysia that offered various vacation packages for the entire family at a surprisingly affordable price. Get into the action of expanding your horizon – seeing all the sights you have been missing when you were holed up in your 4×4 cubicles.
4) Balance Life Physically, Mentally and Spiritually
Getting the best of everything is the way to live your life. Now that retirement is in the way, it becomes all the reason to spend it as wisely as possible. Maintaining a healthy lifestyle is a way to do it; physically, mentally and spiritually. Change your diet; switching to organic food that will keep you energized and fit every morning when you get out of bed. Plan a daily or weekly routine of enjoying the outside; go for a run, play sports, or get involved with recreational activities with the family to keep those metabolisms going. Find the centre of peace and serenity by getting in touch with your spiritual side; be it a religion or personal belief, it is best to have an anchor for your soul to hold on to.

Spend your retirement with full-on planning and at the same time enjoying the lifelong free time you are having on your plate right now.

Goals and Gratitude – The Shortlist

Every year, I write on a piece of paper “Surprise Me” and put it in a red envelope in a special place of the house (OK, behind the couch). If I am lucky, many surprises will come my way this year – ones I can’t imagine with my limited brain right now, but I will know them when I see them. The mystery makes me smile.

I don’t put “lose weight” or “save more money” because thoughts like those circulate in my head frequently enough during the regular part of the year.

I don’t drink it.

Goals and Gratitude – the Shortlist

  1. To learn how to make artisan cheese (another kooky retirement money-maker idea my husband and I “cooked” up)
  2. To inherit a fixer Victorian house on a huge farm in the Midwest somewhere from an as-yet-unknown relative
  3. To trade even better (2016 was a good year)
  4.  To be happier with whatever is in front of me (another driver, the stuffed inbox, a simple meal cooked by someone else, [fill in the blank])
  5. A resolution can be a goal (but it doesn’t have to be) – it can be a wish, a hope, or sometimes just a thought being put out there. Dream a little. What can it hurt?

Oh, yes, and 5 Thanks for reading this.

Thinking Like a Girl About Your Finances

I have nothing against girls. I was one once. I still throw like one. I was also lucky to be a part of the lives of two lovely stepdaughters,14 and 24. But I do have an issue with grown women who sell themselves short, limit their growth or success, or lose valuable opportunities due to not-so-subtle thoughts that are more appropriate for a girl. … a thinking and decision-making process that is still immature.

There could be a lot of reasons why so many of the current crop of adult women still “think like girls.” Maybe it is true that this generation, the Baby-Boomers, ARE really late bloomers—at least in this area.

Girlhood, like boyhood, is a mixed time, full of dreams, hopes and wishes, but also hormones, and rash decisions. Don’t let the latter be the main style of influence when you think about your finances. Instead, think of it as a time of lessons learned and skills being honed and perfected.

It can happen that a grown man thinks “like a girl,” hence the book with the sadly catchy title released last June, Warren Buffett Invests Like a Girl. The good part of this book shows that women, with their patience and good decision making, are actually emulating the temperament of the most successful investor in history, Warren Buffett. That said, there is a vast difference between a fiscally responsible female who trades successfully, and a girl who knows nothing about her finances. Which one are you? It has nothing to do with age.

How to Tell if You STILL Think Like a Girl
Do you recognize yourself in these statements? Be honest!

I want everyone to like me; everyone is my friend.
I hope I don’t sound too strong.

I won’t charge for this service, OR I’ll know some hours off to be fair and get more work.
I’ll learn about investing later. I have lots of time.
I can’t afford to save for retirement now. Maybe later.
Social Security will be enough for me when I retire. I don’t have to save.

I will pitch in doing more household chores—just this time—my time is less valuable.
My husband/brother/father will help me invest. They know more and want the best for me. I don’t know how to fully understand it.

I might be sticking my neck out too much if I ask for a raise. Jobs are scarce.
Everyone in this meeting surely knows more than me. I’ll look stupid if I ask questions.

The Dire Consequences of Thinking Like a Girl About Your Finances
A girl puts things off. The future is always ahead of her. There will be someone there to help her when she gets there. Investing is a scary unknown and she might look “stupid” or “do it wrong.”

If you put off learning, practicing, and perfecting an investment style that works (and works for you), here is what you could be missing out on (from Dave Ramsay via Doughroller):

Summing It All Up
When asked how he made his fortune Warren Buffet said, “To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights or inside information. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework.”

That is something I believe most women can do. Easily.