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How Are Malaysians Doing Financially in 2021?

Malaysians have found it difficult to practice good financial habits as a result of the pandemic and high cost of living, particularly when it comes to saving for emergencies, financial protection, retirement readiness and legacy planning.

Staying on top of your finances isn’t easy given today’s economic uncertainties. Find out how Malaysians are doing financially this year:

  1. Most Malaysians don’t have enough savings. Only 50% can survive for 3 months, while 12% can’t even survive for a month
  2. 3 out of 4 Malaysians were financially affected by the pandemic
  3. 1 out of 10 Malaysians think that their asset distribution is too complicated and are unsure of how to start planning
  4. 1 out of 3 Malaysians said they don’t know how to start investing, are unsure their family can live comfortably after their death, and are unsure of having adequate medical coverage

Improving your financial protection could have positive effects on other areas of your financial well-being. If you’re looking to improve your finances, FWD Takaful offers comprehensive plans that meet your financial needs. Reach out to our agent to identify your finance and protection gaps now!