{"id":4158,"date":"2025-01-23T15:37:52","date_gmt":"2025-01-23T07:37:52","guid":{"rendered":"https:\/\/globalfinteq.com\/?p=4158"},"modified":"2025-04-10T14:41:45","modified_gmt":"2025-04-10T06:41:45","slug":"start-saving-early-dont-wait-or-youll-lose-out","status":"publish","type":"post","link":"https:\/\/globalfinteq.com\/ms\/updates\/start-saving-early-dont-wait-or-youll-lose-out\/","title":{"rendered":"Start Saving Early\u2014Don\u2019t Wait, or You\u2019ll Lose Out"},"content":{"rendered":"\t\t
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In Malaysia, rising living costs and inflation affect our everyday expenses<\/strong>. Hence, starting savings early is more important than ever. The longer you delay, the harder it becomes to achieve your financial security.\u00a0<\/h4>
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Consider this: <\/strong>If Mr. A starts saving RM500 a month at age 25 for just 10 years with a 5% annual return, he could accumulate nearly RM207,000 by age 55. Meanwhile, Mr. B, who starts at 35 with the same amount and rate, will only grow about RM127,000. That 10-year delay cuts potential savings almost in half<\/strong>\u2014 proving that time is the ultimate wealth builder.<\/p>

One of the biggest financial mistakes is thinking you\u2019ll have more time or better circumstances to save later. Unexpected health crises, like illness<\/strong>, disability<\/strong>, or premature death<\/strong>, along with unplanned medical bills<\/strong>, can throw off your financial plans. Inflation also silently erodes purchasing power<\/strong>, making it even more important to estimate future expenses and match them with your financial resources. For instance: <\/strong>RM1,000 in monthly expenses could rise to RM1,800 within 15 years at a 4% inflation rate<\/strong>. If your expenses double, what about your savings? This highlights why your savings growth needs to outpace inflation<\/strong>.<\/p>

Delaying savings means missing out on the Power of Compounding (POC)<\/strong>, where returns generate even more returns over time. Even small amounts can make a big difference\u2014start with what you can afford and build it steadily. Investing is also essential, beyond EPF, consider Private Retirement Schemes (PRS), unit trusts, stocks, bonds, and ASB\/ASM\/ASN for diversified growth. Not forgetting using Insurance or Takaful to manage your health risks and protect your savings <\/strong>from life\u2019s uncertainties. Having good habit such as automating your savings through salary deductions or standing instructions into reliable investment accounts can help secure your financial future.<\/p>

In today\u2019s fast-changing economy, waiting is a costly gamble. Every ringgit delayed is potential wealth lost. Begin now, no matter how modest the amount\u2014because time compounds value<\/strong>. The earlier you act, the lighter your financial burden will be. Secure your future today\u2014time won\u2019t wait, and neither should you.<\/p>

By Alan, Chief Executive Officer of P10 Solutions<\/a> and Registered Financial Planner (RFP)<\/strong><\/p>

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\u00a0 In Malaysia, rising living costs and inflation affect our everyday expenses. Hence, starting savings early is more important than ever. The longer you delay, the harder it becomes to achieve your financial security.\u00a0 \u00a0 Consider this: If Mr. A starts saving RM500 a month at age 25 for just 10 years with a 5% […]<\/p>\n","protected":false},"author":3,"featured_media":4646,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[51,52,54],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/posts\/4158"}],"collection":[{"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/comments?post=4158"}],"version-history":[{"count":10,"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/posts\/4158\/revisions"}],"predecessor-version":[{"id":4482,"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/posts\/4158\/revisions\/4482"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/media\/4646"}],"wp:attachment":[{"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/media?parent=4158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/categories?post=4158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalfinteq.com\/ms\/wp-json\/wp\/v2\/tags?post=4158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}