To retire, you need at least RM1,000,000

For young people, retirement seems to be so far away!  I remember that when I first started to work.... and that was 30 years ago, retirement or reaching 55 seems to be such a long way. I remember drawing my first salary of S$1000 and they were mostly used up by the end of the month. First month, I bought myself a watch costing S$230. I am still using it today. On my second month, I decided that I need to paint the whitewash wall of my room. The rest was history. At the end of a year working, I saved a little. I came to Miri to work.
First, I decided that, I am not going to live on overdraft or bought anything on loan. So, I bought myself a small motorbike to travel to office. I saved enough and bought a Toyotal GL for RM19K. Then I went to learn how to drive!
I read an article on The Star today and it is quite disturbing! To summarise:

• Average EPF saving at retirement for most people is RM146K and 70%  of them used the whole lot in 3 years


• Average life expectancy is 74 years - so 20 more years of living without income to "worry" about


• If we spend about RM4000 a month, a million ringitt could last about 20 years


• If you want to retire with a million ringgit, start saving and investing before 40. To play safe, start saving the day you start working.


• Most Malaysia under-invest and under-save


• If you want your money to grow faster, the return must be more than 4% inflation

The big question: Are you willing to sacrifice short-term thrills for long-term value which helps to build up your saving and investment to exceed RM1 million?
You can invest in properties, unit trust and others low risk investment.
By the way, I am also an unit trust agent. If you are interested, please let me know and we can discuss.