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Today's decision should consider tomorrow's
needs. There is a direct relationship between the amount of money you need
to accumulate and the number of years you have to do it.
For example, if you plan to have a RM120,000 education fund, have 20 years
to do it, and expect an annual rate of return of 12%, you have to invest
only a little over RM120 a month. Wait 5 years, and with 15 years left you
will need over RM240 a month. Procrastinate another 10 years, you will have
to take almost RM1,470 each month!
Time can be a real asset when planning for a child's education or our
retirement. The more time we have to save, the fewer ringgit we need now. Do
not let time slip away.
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