Your guide to money management In your 30S, 40S, and 50S.
This is the age when you’ll be taking on a lot of financial burdens, such as your first home and car loans
If you have children, what you earn is approximately what you’ll spend
Insurance will be very important to ensure you protect all that you have
You’ll need to set aside an education fund for your children’s future
Your children are likely to have begun college
If you had a headstart in preparing an education fund, you should be bringing home more than you spend
Start mapping out the sort of lifestyle you’ll want post-retirement
Take into account healthcare bills as your parents age
Leading up to retirement, make sure you have a substantial amount put away in savings, as you’ll be mainly living off it
There may be additional expenses, such as buying toys for your grandchildren
Set aside part of your savings for medical and nursing services
It’s time to reap the rewards of previous long-term investments and your EPF scheme
IN YOUR 30s
At this stage of life, you’ll probably feel a sudden increase in financial responsibilities – especially if you’re planning on settling down and having your first child.
How much should I be saving each month?
J “While fixed living costs will take up 55 to 60 per cent of your take-home pay (the amount leftover after tax and EPF deductions), you need to build an emergency fund that’s equivalent to six to 12 months’ pay.”
A “Ideally, 10 per cent of your paycheque should be going into a savings account.”
How much can I spend on non-essential items?
هذه القصة مأخوذة من طبعة July 2017 من Her World Malaysia.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July 2017 من Her World Malaysia.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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