Archive for category 7 Days To Better Retirement

Is it all about money?

Preparing to retire is seemed as all about money. I don’t agree with ’Money cannot buy happiness’. Of course you can’t if all you do is trying to voodoo your money to become someone you love. However, with a little thought, money will assist you to get what you want. Here is a nice article about how to invest in your health but it’s not that money-related.

People are always talking about investments for retirement. Financial investments, that is. If you start treating your health as an investment, though, you could find that exercise is a terrific retirement strategy worth its weight in gold.

Physical fitness can be a cash-free retirement investment that pays off handsomely.

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Do We Need Medical Insurance?

Like road accidence, we unconsciously believe that bad things would never happen to us. That’s why we feel reluctant to opt for medical insurance or takaful. We are lucky that transportation insurance is mandatory. If not, I wonder how many of us will buy such insurance. Here I found a nice reading about medical insurance. It may sound biased as the blog is about insurance but just take it as an insight of what we have not carefully thought about.

First of all, do you know that a medical and health insurance policy is generally designed to help you cover the cost of private medical treatment such as cost of hospitalisation and healthcare services, if you are diagnosed with covered illnesses or have had an accident.

Just imagine the cost of not having any health insurance. If you are involved in an accident, or contract a serious illness, you have to pay the hospital bills from your own pocket. Prior to admitting to certain private hospitals, you would also have to pay a deposit. If your family members, i.e. your spouse or children, get seriously ill or hurt, the medical costs can lead to a total depletion of your savings. In some cases, it may even cause bankruptcy!

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Submitted Content for #3 day

Here is a short visitor submitted content for today.

1. A Brief History of Retirement

ChampDog explains how human civilization comes to the term of retirement and what happen before people do retire. It’s an interesting story and I’m sure you will like this brief history of retirement.

2. Health and Wealth

Learn why health is more important than wealth in preparing yourself for retirement.


10 Retirement Planning Mistakes

I found a great article about 10 mistakes people do when planning for their retirement. I really like to compare how they do it in the United States and find the knowledge that could assist us.

  • Not taking full advantage of your company retirement benefits

You should invest as much money into your company retirement plan as you can afford. At the very minimum, you should invest enough to get your company matching funds if they are offered.

This is only applied to private employees. Here we have EPF fund ( it’s called 401K in the US). Try to contribute as much as possible to take advantage of matching dollar contribution from your employer.

  • Withdrawing money from your retirement plan

By withdrawing money from your retirement plan, you lose valuable interest that is extremely difficult to replace. Some plans allow for hardship withdrawals and/or loans but you must be careful when taking advantage of these withdrawals. In addition to losing interest, you could face penalties or early withdrawal fees.

We like to use EPF money as much as we could. If you ever need to do this, do that for your future sake . Remember that the money is for your future self, so respect it.

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Dream Retirement: How Much Does It Take?

Today marks the commencement of 7 days of Retirement Week at Irwan.Biz. Without further ado, let’s tackle the basic question first. How much does it take to achieve your dream retirement?

To help us out, Azhar Khamaruzaman has came out with his useful estimating calculator. With just seven boxes to fill, this calculator will estimate how much monthly investment (or lump sum) that you need to achieve your desired annual income in your retirement years. Pretty useful and motivating stuff. (link to download after jump)


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Get Ready for Retirement Week

In the recent news of how ill-prepared our people are for retirement, I’m going to hold a week long postings about retiring. This will covers the topic of what we should do before retiring, how to refine our retirement plan and the tips to avoid common mistakes that most people make about retiring.

To facilitate people to find all posts in the week, I’ll put all the posts in 7 Days to Better Retirement category. You won’t miss it.

You can show your commitment in this knowledge gathering in several ways:

  1. Leave your thoughts in comment section of each post. Ask a question or share any knowledge that you might have learnt recently about having a better retirement.
  2. Make your own post in your own blog regarding any topic pertaining to retirement and then email me with the URL. If you don’t have a blog, just email me the whole article instead. I would gladly publish your article.

The first posting will start this Monday and will be continued until Sunday. I’m looking forward for this exciting week.

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