Yet despite the hardships faced by their parents and grandparents — including delayed retirement, investment losses, and quality of life adjustments the majority of Generation Y members have not begun to think about retirement. What make things worse are generation Y are big spender. They spend most of their money to satisfy the urge for instant gratification. With a lot debt such as car loans, student loans and credit card loan to need pay every month, they have left with little money to save for retirement.
|I would love to retire like this oldman in the future.|
According to news reports, large numbers of late thirty and forty are migrating back to their parents' houses where they get a free roof over their heads and free use of the TVs,Internet,gym equipment and so forth. This trend is supposed to indicated that has produced a new generation of freeloaders, who lack the gumption to go out into the world and make it on their own. The so-called lost generation or Generation X, have been quietly stashing away their loot. Apparently, there was more savers in this group among their parents, the baby boomers who prefer buying things now to saving money for later. The Xers have realized that they can't count on social security and pensions to bail them out such as depend on solely on EPF for their retirement
According to Great Eastern Life Assurance (M) Bhd executive vice-president and chief marketing officer Loke Kah Meng, only
|Medical Checkup for your piggy bank|