Jun 10 2014, 09:27 AM
QUOTE(lynn1901 @ Mar 30 2012, 11:04 PM)
This private retirement funds available in some insurance companies. For example, you pay RM3000/year for 20 years plan, then insurance company will pay you a sum/yr on 21st year onwards, this is consider retirement funds. For those need to pay 26% for income tax, RM3000 x 26% = RM780 exempted. This type of retirement plans definately give you better return than FD, somemore you get tax relief. You save RM780/yr x 10 years (only tax relief for 10 years) = RM7800, yet you still enjoy the saving return.
Hope i answer the question here.
Yup, this is awesome.. been investing in PRS since the inception. If u play well with timing (say RM3k lump sum) every Dec, u get your "return" in the following month of 26%. Hope i answer the question here.
what i liked about PRS compared to annuity is the flexibility.
on the other hand, i can even invest thru FSM everytime I see my fund price goes down. Been using this strategy and making decent return from this since 2012.
This post has been edited by jimmyktp: Jun 10 2014, 09:28 AM
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