MID-LIFE CRISIS

Finally have the time to continue writing after settling down with my second daughter Eunice Kua Zhi Hui born on 1/11/2006. Cheer!!! Today I will lay my life experiences of the topic above.

Recently during one of my MSN chat with my friend, i discuss with him the mid-life crisis. Why did i say that? Coz we all in another 2 year from now; will be 30 and another 7 to 12 years from now we will be 35 and reached 40. My question to all my friends is that are you all ready or prepare for the coming years or the future.

1. When or have you married? Coz RM 20-30K these day for Chinese Race for that event alone.

2. Old Car Loan Settled? or new car in store already? Coz 1,000 monthly for another 5 years.

3. New Housing Loan for Double Storey at 200K? Coz RM 25K down payment and tied for 25 years monthly installment of RM1,300. (Wisely not recommended to buy!)

4. Plan Wife Pregnant = Delivery Expenses ? Budget RM5K per child for delivery expenses exclude feeding expenses estimated at RM 200-500 of monthly maintenance fee until they reach 17-20 year old. ( me 2 already both also daughter headache lioa)

5. The Insurance Premium of You, Wife and Childrens? Life, Income and Health Plan.........estimated monthly of RM500 minimum. (Budget wisely)

6. My Child road to Degree Education Fund......UK, US or Australia at least RM20-50K per children. (Get Local U will be cheaper but with the Quota System seem tough)

7. My Retirement Fund.......at age 50 how much is the living coz in Year 2028 will be unknown and how much Capital will be required to generate the income to support the living coz........?

8. Et-cetera ......holidays, lifestyle, repair and maintenance of home and car and lots more.

Wah! so many thing and so complicated ; must work all my life to earned substantially income to cover those above. However the tricky part will be during the journey, let say your were the chosen one for the VSS (Voluntary Seperation Scheme). The world or career you built all this while seem to collapse into you; seen in the example of certain peoples in their 40-50 age during the 1998 crisis. AM I PREPARED FOR IT or IT WOULD NOT HAPPEN ON ME!!!

My little advice to all my friends and those reading this blog, plan yourself well financially to avoid the above pitfall. Good Luck!

Excerpts from Milan Doshi :-

People Don't Plan to Fail.............................They just Fail to Plan