Planning for the future in the time of Covid

Save, save, save: It may sound difficult during the pandemic, but saving is still the best way to prepare for retirement.

RETIREMENT security may seem a distant worry to us now, as Malaysians’ careers and financial security take a dive as a result of the Covid-19 pandemic. In reality, it is a very important concern, especially since Malaysians’ savings are worryingly low and our future well-being will hinge on the financial decisions we make today.

The past year has been tough for the majority of us. Some experienced stagnant wages amidst increasing costs, some were forced to take salary cuts, others lost their jobs and are struggling to pay bills and make ends meet. According to the Department of Statistics, many households were negatively impacted and dropped into lower income groups over the course of the pandemic.