First step: Assess how much savings you will need
Estimating how much you will need for retirement can be a very daunting task, especially as we don’t know how long we’re going to live, how much medical care we will need or how much profit rate we will earn on our investments—that means each of us will have a different number in our mind when it comes to our retirement.
Second step: Balance your objectives and principal considerations
When it comes to investing for legacy planning, you should clearly assess your financial capacity and weigh it with your willingness to take risk as well as type of risk(s). It’s important as investing in an Investment-Linked Takaful plan is a long term commitment.
Capacity: Time horizon, financial situation
Willingness: Investment objective, risk tolerance, attitude to risk