Seniors start planning early for their golden years


PETALING JAYA: From choosing to continue working to diversifying investments, senior Malaysians are finding ways to continue generating income despite approaching or having entered their golden years.

A 52-year-old who wanted to be known only as Chan said he would continue to do freelancing support roles for IT-related services despite closing in on retirement.

“I do have savings but am choosing to get extra income to cope with any situation that could crop up.

“Travelling is also on the cards where possible, but my son’s education fees are also a priority.

“I want him to do what he loves when he finishes his studies,” he said.

Newly-retired M. Kumar, 63, said he prepared for his retirement years by purchasing several properties some 10 years ago.

“At least now, I have some passive income from renting the units out in addition to my Employee Provident Fund (EPF) withdrawals,” he said.

The former bank officer added that life beyond retirement should not be very different from one’s working years.

“There are always ways to cut costs, especially considering how inflation leads to higher prices, but smart financial decisions made years ago can allow us to at least live comfortably upon retirement,” he said.

A recently retired teacher, Me Lok, meanwhile said he was looking to spending his retirement years travelling.

“If I don’t do it now while health is still on my side, I may never get another chance to.

“I also plan to set aside some of my savings for investments,” said the 60-year-old.

Wan M. Fahmi said he was eager to use his future retirement funds to set up a small business.

“I’ve always wanted to start a business, and retirement could present that opportunity.

“I’m also looking at something that requires a hands-on approach as I want to keep myself active after retirement,” the 49-year-old said.

A former government servant, who wanted to be known only as Lau, said he was satisfied with his monthly pension and did not want to risk investing.

“I plan to travel more and do the things I wasn’t able to do during my working years.

“Life is short so we want to enjoy it the best we can.

“My children are also all grown up and can support themselves,” said the 64-year- old.

Related stories:

Retirement crunch looming

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