Today's decision should depend on 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 within 20 years and expects an annual rate of return of 12 percent, you have to invest only a little over RM120 a month. Wait another 5 years, you will need over RM240 a month. Procrastinate another 10 years, you will have to put in 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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