Living well in retirement is within our means

I REFER to the article “Living well in retirement is not beyond reach” ( BizWEEK, Nov 4). It may be well intended but I wish to pose certain queries.

The writer mentions a couple aged 75 and 70 with medical problems and receiving a total of RM350 monthly in welfare aid, which seems quite plausible as I feel they deserve more.

The writer mentions they own a property which, if disposed of, could fetch RM200,000. The writer says the RM200,000 can be utilised for the next 11 years or more, adding that “probably by that time, both would not be around”.

But what if they or one of them continues to live?

Furthermore, wouldn’t it be more practical if they sell the prop- erty at the mentioned price and leave the amount in fixed deposit on an annual basis (current rate at a local bank is at 3.7%).

It will provide them with RM7,400, which translates to about RM616 monthly. Add that to their welfare aid, it comes to RM966 monthly.

Lastly, the writer doesn’t mention BRIM (RM1,200 each annually) which they are qualified for and which will provide them both with another RM200 monthly.

So overall, the aged couple will be enjoying RM1,166 monthly for “more than 11 years” with the RM200,000 intact, and which they can bequeath to their grandson (who hardly visits them). SENIOR CITIZEN Kamunting, Perak