Last Updated on January 23, 2026 by Chin Yi Xuan
I always believe that for things that you can foresee, you can prepare.
Being self-employed with no safety net, I realized very early on that it is crucial to be financially prepared in life.
In this post, let me share the 3 most important money questions that I started to think about seriously as I stepped into my 30s – and how engaging a financial planner has helped with them.
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Table of Contents
“Will I have enough to retire?”
Often overlooked when young, retirement is one of the most important things to plan for when you are young.
As of 2025, the life expectancy in Malaysia is about 75.3 years (Source: the Statistics Department (DOSM)). This means that the average Malaysian will have about 15 years without a regular paycheck upon retirement.
Ironically, according to EPF’s annual report in 2023, nearly 50% of contributors reaching age 55 had less than RM10,000 in savings.
Hence, while it is important to live in the moment, it is equally crucial to plan for your retirement days.
“How to plan for my future goals?” (eg. having kids, buying a car, or a house)
I like to call the 30s the phase of ‘accumulation’ in life.
This is the season of life when most of us begin to take on commitments (eg. marriage, having kids), or to make our first big purchase.
Therefore, it is not surprising to hear that the expenses involved can be overwhelming.
As an example, I recently met a friend who is a mother to 2 kids – a 3-year-old and a 6-month-old, respectively.
When I asked:
“What were some of the expenses that caught you off guard after having kids?”
She told me that hiring a nanny and the education fees for her elder daughter caught her by surprise – and she has been spending close to 5-figure a month on her kids.
Besides that, I’ve also known friends who spent a low 6-figure for their wedding.
However, with proper planning, I believe it is possible to manage every key milestone and big purchase in life without feeling overwhelmed.
“Would me and my loved ones be financially okay if something were to happen to me?”
Change is the only certain thing in life – and there will always be risk in life, such as:
- Sudden hospitalization due to sickness
- The inability to work while recovering from sickness, leading to a loss of income
- Unexpected death
The question is, how do you manage your risks?
(a) Updating your insurance coverage as your circumstances change in life
Most of us would likely have some form of insurance coverage that we bought in our 20s, but we rarely look to update our protection over time.
A common, yet mistaken mindset is to think of insurance purchase as a one-off occasion. Reason being, our circumstances in life will evolve with time.
For instance, you will probably need a higher life insurance coverage amount once you have debts and/or dependents. In addition, you will probably need to adjust your critical illness coverage as you start to earn and spend more in your daily life.
Your insurance plans should be reviewed routinely, especially when there is a major change in your lifestyle. (eg. from singles to married, becoming a new parent, or when you take on debt)
(b) Writing a will to ensure your assets are distributed as per your wishes
Another key thing to consider in your 30s, especially when you have dependents, is to consider estate planning.
Estate planning includes things like writing a will to ensure that your assets (eg. stocks, cash, property) are distributed to your loved ones according to your wishes.
For non-Muslims, not having a will means your assets will be distributed as per the Distribution Act 1958 (amendment 1997), and it will take much longer (sometimes years) for your assets to be distributed due to the court process involved.
How engaging a licensed financial planner has helped with the money questions in my 30s
Fortunately, I’ve been guided by Stev, my financial planner, with all the money questions in my 30s.
#1 Retirement Planning – making sure I have enough to retire comfortably:
As a licensed financial planner, Stev used his expertise to analyze the state of my finances, and what I can do to retire comfortably.
From the chart below (blue line), check out how Stev managed to spot a major weakness in my retirement plan a few years ago – where my funds would be fully depleted in my 60s.
Seeing that, Stev proposed solutions that I can start implementing to help extend my retirement fund for another 2 decades (orange line).
Imagine how panicked I’d get if I only learn about this when I retire!
#2 Insurance – protecting me and my loved ones from an uncertain events in life
As someone who enjoys various activities in my 30s, I am aware of the risks that come with them.
For instance, if in an unfortunate event where I am not able to work due to medical issues, or worse, pass away – it is crucial for me to not become a burden to my loved ones.
Hence, I relied on Stev’s expertise to find the best insurance combination for my age and lifestyle.
- Life insurance (Payout on death & total permanent disability): We opted specifically for Term-Life Insurance, in other words – insurance coverage without the investment nature. Term-life insurance is cheaper than investment-linked products but will incrementally become more expensive with age.
- Medical card (Covers hospitalization expenses): We’ve also decided to go with a medical card that covers things like surgery and room & board with an annual limit of RM10m.
- Critical illness (Income replacement while recovering from illnesses like cancer): For this, we opted for protection that could cover my daily expenses for 3 years should I am not able to work due to illnesses like cancer.
As a licensed financial planner, Stev is not tied to a certain brand or company (unlike an agent) while researching the best solution for clients.
Here’s a glimpse of how Stev proposed a few combinations of insurance solutions for me in 2020:
We review my coverage every year, and determine if there is a need for me to adjust my coverage according to the circumstances of my life.
#3 Estate planning – ensuring that I leave a legacy as per my wish
Being in the 30s is an important accumulation phase in life.
This is the time when my earning power and time for compounding return are at their most balanced state.
As I started to accumulate more assets like stocks in my 30s, I figured it was also important to ensure my assets go to my loved ones according to my wishes if I pass away.
Since licensed financial planners are trained in providing estate planning services, Stev also guided me in creating my own will a few years ago:
#4 Tax planning – making sure I maximize my tax reliefs
Personal tax planning is another aspect that I appreciate while engaging Stev as my financial planner.
Every year, Stev will inform me if there is any tax relief that I could apply for myself. Given that the tax reliefs are ever-changing, I am grateful that Stev is guiding me on this.
#5 Big purchases – guidance so I do not feel overwhelmed
After stepping into my 30s, I’ve been thinking about various big purchases and milestones in life, such as:
- Buying a new car to replace my 10+ years Myvi.
- Getting my own housem eventually
- Getting married
- Planning for kids
Planning for these can be overwhelming, and Stev has been helping me to prepare financially.
I have full confidence in Stev’s guidance, because licensed financial planners are trained with the proper system and methodology to assist clients with important financial milestones in life.
Should you engage a financial planner in Malaysia?
Working with my financial planner, Stev, has been a major turning point in my financial journey – and even more so as I step into my 30s.
Do you have these questions in mind about your finances?
“Am I on the right track to retire comfortably?”
“Am I financially prepare for ____ (a major purchase/milestone) in life?”
“Would me and my loved ones be financially protect is something were to happen to me?”
If yes, engaging a financial planner can bring massive benefits to your life.
Specifically, I am confident that a financial planner will add massive value to you if:
- You have tried to DIY your finances but still feel overwhelmed.
- You want to prepare your finances for the next phase in life (eg. marriage, retirement), but not sure how.
- You need help to organize your finances in place but you are unsure how or too busy to begin (investments, insurance, estate planning etc).
Yes, there are charges to engage a financial planner. But trust me, this will be an investment that’ll give you returns and peace of mind in multiple folds.
Check out the next section on how to get your first financial consultation – FREE OF CHARGE!
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If you are keen to explore how a licensed financial planner can help with your finances, this is for you:
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- When you sign up for this FREE consultation session, you will learn more about your overall financial state.
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Regardless, it is 100% FREE and you have zero obligations to take up the service if it is not suitable for you. Plus, you are doing your finances a favor for the year to come!
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Disclaimers
This article is made possible through a collaboration with WealthVantage. Special thanks to Stev and the team for making this collaboration such an impactful one.
p.s. This post contains affiliate links, which afford No Money Lah a small referral if you sign up for any paid services.
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Any discussion or mention of any stocks or ETF is not to be construed as a recommendation, promotion or solicitation. All investors should review and consider associated investment risks, charges and expenses of the investment company or fund prior to investing. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
