The topic of the best retirement plan in Malaysia seems to be on the tip of everybody’s tongue. Of course, everyone has been dreaming about the perfect retirement life – travelling the world or having sufficient money for the kids’ college fund. But what if your EPF won’t allow you to do so?
A survey showed that more than two-thirds of working aged people are concerned about running out of money during retirement. Here, we listed three ways for you to retire comfortably without worrying about your retirement fund.
1. Save your money in ultra-safe investment
After a few decades working, you must have a huge chunk of savings in your bank. Consider to move it to an ultra-safe investment like a fixed deposit account. Fixed deposit gives you a low-interest return of about 1% but the good thing is that you can withdraw it anytime you need. There is no minimum sum or age requirement for you to withdraw – you have the freedom to withdraw it anytime.
2. Grow your retirement fund by day trading
The idea might seem pretty amusing and brilliant, but it comes with risks. Day trading gives higher returns than fixed deposit or your EPF. However, you must consider the risk of losing your capital.
Day trading requires you to constantly be in front of the computer screen in order to profit from it. If you hate spending hours on the computer and if reading technical charts are not your likes, then day trading may not be your best option.
3. Start a low-capital business
Starting a business doesn’t mean you have to own a physical shop, investing in the rent, manpower and keeping the business operation running. Have you heard of e-commerce business? E-commerce is about selling things online to customers, with low capital and easy to start. You don’t have to hire employees or need a thousand dollars to kick start.
Start small and get your target market and audience. E-commerce is easy to handle and you can do it from home. You can even start an e-commerce business without creating your own website, handling inventory, delivery and even without selling. Get a company to do all these logistics work for you.
Have a decent retirement
It’s not too late to start planning for your retirement. Set your aim and spend time to do research on how to achieve your perfect retirement plan. After decades of working, you definitely want a smooth and relaxing retirement right? So if you worry about your EPF fund, there are many other alternative to leverage your savings!
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