Saturday, November 20, 2010

Startling Msian Retirement Fund Figures

Figures of how much people have in their retirement accounts have always intrigued me. Managing my finances well is of paramount importance as i don't want to end up like the broke masses. Figures for S'poreans are grim & on Msian side it's the same.

When it comes to wealth, the 80/20 Pareto principle is even more pronounced. Azizi Ali, a Msian finance book author wrote that 94% of Msians have less than RM100,000 in their accounts. Forced savings already so pathetic, real savings is even worse.

Amount (RM)
No. of Active Contributors

Above 1,000,000
4,735

600,000 to 1,000,000
11,457

100,000 to 600,000
524,012

50,000 to 100,000
775,581

Below 50,000
4,093,368

For S'poreans, the situation is worse with much of it sucked up by housing mortgages & many has been brainwashed that their aging 99 year leasehold flats are worth a lot.

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