You can retire but not your money

SO, you are finally retired. How are you going to deal with your living expenses and various payments that you must make? If that thought fills you with dread, you are not alone.

Timothy, a successful businessman, plans to retire soon. He has set aside RM3mil to finance his lifestyle after he quits his business. By Tim’s reckoning, he can live comfortably off the interest that he will earn from putting that sum in fixed deposit (FD). Assuming that the bank pays him 4% per annum on that amount, he expects to live off the RM120,000 in interest.