Another Letter on Retirement

Time to seriously look into financial planning

YOUR report “Can you retire?” (The Star, May 27) makes interesting reading.

It does not help that most workers in the private sector use all their EPF savings within three years after retiring or have to depend on their children in their old age.

Those who work in the civil service can depend on their monthly pension and free medical care while those in the private sector whose medical bills will rise as they grow older will face problems paying them.

With rising inflation, lowly paid workers will have a tough time making ends meet when they retire.

We cannot blame them for having little or no savings as their pay cheque is only enough to put food on the table.

One shudders to think that come retirement, there will be a lot of people who will live in poverty if they do not plan their nest eggs carefully as we cannot depend on our children to take care of us due to their own commitments.

Save now for your old age. Good financial planning is a must.

HAMDAN IBRAHIM, 

Kuala Lumpur.

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