Do you have plans for your oldage? Are you ready to become aged ?  

Sometimes you plan and you hope for success. You may plan, but it is God who dispose. For instance, look at what I did and what my friends did. I took up insurance policies as a savings plan for my wife and children. I bought a scholarship annuity in Australia for my daughter and one for my son back here in Malaysia. I bought my insurance policy in the Isle of Man, an offshore outpost near the UK.It is called the Clerical Medical Insurance Policy Plan. All I needed was to pay 5 years of premium and the insurance policy will take care of itself. I will then be able to withdraw its value in pounds.But truth be told, the policy failed to sustain and the company told me that it will becomes nothing in 2001 if I do not put in topped up premiums. So I surrendered the policy and took back my money. Meanwhile, my friends who bought houses saw a huge appreciation, many folds of their investment. I got nothing except for my principal amount.As for my daughter's annuities, what was planned did not come to pass either. The annuities could now no longer be able to cover even half a semester of her study.Another plan down the drain? So,do you still think its worth planning when inflation is eating you from all sides?

whatever i grow so old,i hope that i live with some plans,because this is my habit,i hope that i can finish something everyday and don't waste time to do unvaluble thing,i found that my father live very well.he often do training at the morning,the next he go to mountain to cut off some firewood and take back them to home,he play game with other people at night,so he looks young and healty,he said
he could not worry about something,the best thing for him his children can often see him at convinient time and be happy to live well.so i hope that i live enrich
for my old age.

well, I have some insurance policies and thats it...I dont have anything else. Whatever we earn is just enough for the monthly expenses and loans so where is the time to plan for the oldage..may be our assets like house, jewellery are the only things for our old age now...

Nowadays the prices of every commodity has soared up that making the both ends meet is becoming difficult...living a decent life is itself becoming difficult then where will I plan for the old age when my present is so uncertain.

I have lots of plans for my old age at the age of 16! Hehe! I plan not to be a burden for anyone when I become old. I mean, I don't want to depend on my children or my sisters to take care of me then. I'd like to be on a long vacation in Hawaii or somewhere like that! My plan is to save as much money as I can for my old age when I get a job! Happy mylotting!

i don`t have any plan,as you said,no one can restrict it,but i somehow i afraid of becoming aged,not young,not as smart as used to.i think i need a long time to accept it,maybe someday i will find that being a old people is not as bad as i thought before.after 20 yeras old,i just feel that the clock giong faster than before,i can`t do anything to grab the time,i have so many things to do but few of them can make sence to me.it makes me feel feel terrible i realize that i have wasted so much time.

Apart from a little money, I have no plans for very old age. I have an only child and little property so nothing to worry coz I know that worrying will not really get my anywhere! And then you know, people who have lots of money and property, have lots of worries too LOL
I will have a little pension from my work and let’s see if I can save something for myself after I spend majority of my income on my son’s education.

To be honest, I haven't thought ahout this topic before, partly because I am young now and think old age is far far away from myself. As being an elder is inevitable just like mentioned above, it is time for me to think about it carefully. Some people like to be quiet, so do I. I believe reading is a good hobby to kill time and improve myself. I have learned a few elders prefer to be active and some of them participate in dance band or become good user of computer. It is really a challenge for them.

Not Exactly.i dont want to become old soon.Im still a college going student so i not decided about the oldage yet.thats far from me...:)
The Truth is everyone has his oldage.No Matter what happens you need to think of your future and your children's future.

With my status as head of houshold now, of course i hope in next time i can get better living than now. With better living as economic, maturity, social status, i wish my children can get what they dream, and for me as father, i wish whenever i'm getting old, i don't make them worry about me, i wan to be such nice old guy with happy ending life.

Dear Philip,

Thanks for this topic, it is very practical and make us think
about the Question that some of us will just 'do not want to
think about it!'...or as one of the popular song "Que Sera , Sera'
strumming away with : 'Whatever Will be, will be'

For myself, I came from a very poor family living in a secluded
estate. My father was working then but all his salary went to one
special hobby of his ~ gambling away on the pay day ~
So, left only my mum's pay as a rubber tapper - she has to pay
for her 8 children's education, household sundries and expenses,
She knows the value of money, she lives on her next month's pay.
Rubber tappers are daily paid..so she will buy the groceries from
the friendly neighbourhood sundry shop on credit - recorded in the
popular 555 notebook.

She knew how tough life is if we do not plan, so from young I was
taught by her to save...save...and save. But there is one ARCH enemy
who will eat up the value of money ~ the INFLATIONS! So, how can we plan
by rely on savings alone...other alternative plans have to be considered;

1) Purchase a long term life insurance plan that will pay bonus and
dividend. In case the insured is no longer in the world, the next of
kin will be taken care off. Or the insured can withdraw / surrender
the policy to get the cashvalue..to take care of his old age expenses.

2) Buying an endownment plan that at certain years, the whole initial
capital plus bonus will be return back to the insured. This is a better
plan for retirement. I sometimes call this as savings for the retirement.

3) Save in Goverment Bonds with higher dividends and capital guaranteed.

4) Purchase houses for rental, the rental can help to pay the monthly
instalment. Once the house is fully paid up..the rental income can be
used for expenses during old age. Moreover, house value can appreciate.
If you are weel to do, can invest in shop lots, office lots or industrial
buildings....it is money taht attracts money :)

5) Employeed Provident Fund...those who works in the private companies,
it is the Government Regulations taht the employee and employer must
contribute to this fund for retirement benefits to the employees.
But sad to say, many retiree has spent off most of the fund within
5 years after retired. So, who gonna take care of them after that?
Many has used the retirement money for children to buy car, buy house
or for children marriage..sigh


All the best, better plan now..no one else will plan for you :)