What is PRS ?

How many of you still don't know what is PRS so far ?
PRS stand for Private Retirement Schemes (PRS).

What does PRS function ?
Private Retirement Schemes (PRS) is a voluntary long-term savings and investment scheme designed to help you save more for your retirement. PRS seek to enhance choices available for all Malaysians whether employed or self-employed to supplement their retirement savings under a well-structured and regulated environment. Each PRS offers a choice of retirement funds from which individuals may choose to invest in based on their own retirement needs, goals and risk appetite. The fund options under PRS are intended to enhance long-term returns for members within a regulated framework.

What is PRS Objectives ?

A high income nation must have a sound and sustainable social security framework to ensure adequate retirement savings. The PRS is an integral feature of the private pension industry as part of the Economic Transformation Programme under Entry Point Project 6 (EPP 6), with the objective of improving living standards for Malaysians at retirement through additional savings. With the regulatory framework developed by the Securities Commission Malaysia, PRS forms the 3rd pillar of Malaysia’s multi pillar pension framework.

Who are qualify for joining PRS ?

Any adult who are self-employ, employers can join PRS.

What is PRS Youth Incentive ?

The PRS Youth Incentive was initially launched under the Budget 2014 in Oct 2013 by the Prime Minister where youth aged between 20-30 years will be given a RM500 one-off incentive by the government with a minimum contribution of RM1,000 in the PRS.

Pursuant to Budget 2017, the incentive amount was enhanced by the government to RM1,000. That means, for a minimum contribution of RM1,000, you get a matching RM1,000 from the government as a boost to kick start your retirement savings. This is great news for you!

For anyone wish to know more PRS in details, can private message to me at Facebook. I am willing to share more.

Hope this hope for those who see my post. 

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What Warren Buffett define investment?

WHat is the best investment in your life?

How to differentiate investor, trader, or an ordinary people?

How can someone become millionaire, billionaire or trillionaire?

There are something happen in the behind of the scene, if ordinary people can achieve not ordinary result ?

There is always is reason behind it.

In this world, there are no overnight success. Success is accumulated from where you begin. I belief that everyone had gone through difficult period in our life.

Story cut short.

First, you need to invest in yourself with knowledge like attending preview, seminar, conferences & etc to avoid some mistakes before you get start for any investment. You may also buy some investment book to analysis what is the best investment should start with like newbie.

Second, you need to set your mindset before you start any investment. Majority of investor may done this mistakes before, they invest with their emotion or psychology.

Warren Buffett had said:
1) Rule 1: Don't lose any money when you start invest.
2) Rule 2: Follow rule 1.

How investment can be start?

How you divide you monthly salary?

Spend first , then save or Save first then spend?

The correct answer is Save first only spent.

Many of people do not have right money mindset because in school teachers never teach about how to manage money.

You can learn the money mindset from the Book called Rich Dad and Poor Dad by Robert Kyosaki.

Have start worry on your retirement?

A news come out from Malaymail shown that, 94% of Malaysian after they get retire unable to survice beyond 6 month with their pension money.

Are you wondering how come senior citizen work for 25 years in their career but still can survive more than 6 month?

Because of inflation?

Or they're not prepare well for their retirement expenses?

Therefore, we need to plan for our retirement when we are still young and working.
If you still procrastinating, things will get worse.

Have you hear before compound interest?
Compound interest can make someone like you and me become millionaire.

If you have enough capital, and time, compound interest is the best tools to guild you financial freedom.

You can  scan the QR code to get free consultation.