It often starts with a simple thought: “I still have time.”

In the early years of working, retirement can feel distant. Something to think about later. There are other priorities that seem more immediate: building a career, supporting family, and enjoying life in the present.

Years pass quickly. And before long, that distant milestone begins to feel much closer. For many, this is when the question becomes more pressing: “Have I saved enough?”

Imagine your ideal retirement

We all have retirement dreams we hope to achieve. For some, it may mean spending more time with family and friends, enjoying leisure activities, or giving back to the community. Others aspire to learn new skills or even pursue hobbies that have long been put aside.

To turn these dreams into reality, everything must begin with proper planning. However, the reality is that many people only start seriously thinking about their savings later in life. Some may even find themselves wishing they had started earlier.

 

How to start retirement planning

If you are unsure where to begin, start with these simple steps:

1. Determine the lifestyle you want

Think about the kind of life you hope to live after retirement. Having a clear vision can help you better understand the level of financial support you will need.

2. Estimate your future monthly expenses

Consider your expected monthly spending, including daily living costs, healthcare expenses, and leisure activities. Do also keep in mind that expenses may change over time due to inflation.

3. Review your current savings and contributions

Take a closer look at your current retirement savings position. By understanding where you stand financially today, you can determine whether you are on the right track or if adjustments are needed.

4. Use digital tools to support your planning

Make use of the Retirement Goal Calculator in the KWSP i-Akaun app. It helps you estimate how much you may need and identify the gap between your current savings and the retirement target you need to achieve.

Read also: 5 Financial Habits To Start For Early Retirement

Small steps, lasting impact

Starting early does not mean making drastic changes. It is about taking small, consistent steps over time. Even modest savings, built steadily, can grow into something meaningful. More importantly, it gives you the confidence that you are moving in the right direction.