How Do You Juggle Retirement With Multiple Financial Goals?

Written by Iris Lee Illustration by Michelle Leong

If you are like most Malaysians, you may find yourself juggling numerous financial goals, and the ball that always drop first in such situation is – retirement planning.

It’s not uncommon to have several goals when it comes to our money – and usually we start chasing these goals as soon as we join the workforce. Some of the short-term goals include saving to buy your first car, buying your first home, funding a dream wedding, a Eurotrip and the biggest financial goal of all, retirement.

So, which one should you save for first, since saving for all of the above at once seems like an impossibility. When you are in that situation, all that traditional retirement advice about saving abundantly and investing shrewdly seems like a ridiculously unrealistic goal for so many.

One way to never let the retirement ball drop is to fast-track your retirement savings by squeezing the savings into a short period, and letting the fund work hard for you until retirement comes.

By doing so, you can save for retirement for a few years, and then move on to focus on other things. You may have to save a significant sum for your child’s college fund, and you can do so without sacrificing your eggs for your golden years.

Zurich Favour8 is one of the simplest product that can help you achieve that. With only premium paid over eight years, you get life insurance coverage for 20 years, guaranteed cash back every year starting from the first year, guaranteed maturity benefit, and an investment portion that will make your money work harder for your retirement.

Stop juggling your finances, and start living.

Watch Zurich’s video here!