AN average wage earner has grossly inadequate savings in the EPF to support a retirement plan, according to Inter-national Association of Registered Financial Con-sultant (IARFC) Asia chairman Dr Jeffrey Chiew.
“Retirement is based on affordability and not of age. In other words, a young man aged 25 years with RM20mil can retire any time he wants, whereas a 65-year-old man cannot retire if he does not have sufficient financial support for his golden years,” Chiew said in a paper on Secret of Smart Investors at the Financial Summit 2003 in Penang on Sunday.
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