Mathematic VS Retirement

I have duly attended a seminar yesterday about wealth and retirement.

It's rather interesting.

Let's do a simple mathematic calculation and find out how much do you need for retirement . . .

Your age: (ie 30)
Your retirement age: 55
Your Life-span: 75 (on average for Malaysian to live till 75)

Between 75 and 55, you get to enjoy your retirement for 20 over years.
We do a simple calculation on food consumption during your retirement age:-

Breakfast: RM8.00 (food & drinks)
Lunch:      RM10.00 (same... food & drinks)
Dinner:     RM10.00 (well, we disregard whether or not you will have tea time or supper, we just calculate based on a normal 3 meals a day)
Total per day: RM28.00

RM28.00 x 365 days x 20 years = RM204,400 (say we round it up for RM200k)
Well, this is not the final figure. You will have to include the INFLATION rate as well. Let's assume that the inflation is at 5% annually.
1st year RM200,000 + 5% = RM210,000
2nd year RM210,000 +5% = RM220,500
3rd year RM220,500 +5% = RM231,525
4th year RM231,525 +5% = RM243,101.25
5th year RM243,101.24 +5% = RM255,256.31
6th year RM255,256.31 +5% = RM268,019.13
7th year RM268.019.13 +5% = RM281,420.08
8th year RM281,420.08 +5% = RM295,491.08
9th year RM295,491.08 +5% = RM310,265.64
10th year RM310,265.64 +5% = RM325,778.92
..
..
..
20th year RM530,659.54

That is only for yourself, how about your spouse?
So, we multiply by 2, RM500k x 2 = RM1mil.
Meaning, you gonna standby a million just for food to sustain you and your spouse retirement life.

Imagine if you have 2 kids, you will have to standby  ??? I believe you know the calculation.

Of cause this is a simple mathematic formula that anyone can calculate. The most practical way to know how much do you need to sustain your life-style during your golden retirement age, you can liaise with me and I will introduce to you a friend who is professional in this to assist you to plan in advance for your golden retirement!

It is NEVER too late to plan your retirement!