Happy Old Age Account is a savings account that allow you to plan your personal financial management and family before retiring and retain happiness forever.
Ex: This year, Chetra gets 30 years old and will be retired within 65 years old, so he starts opening Happy Old Age Account which he deposits KHR 40,000 on a monthly basis.
Here what he has to do:
- First step: Chetra opens a Happy Old Age Account
- Second step: Chetra monthly deposits KHR 40,000 within the period of 35 years.
- Third step: Chetra will surely get KHR 22,067,800 with the interest rate of 2% = KHR 1,964,600 (after tax) and get additional bonus 5% within the period of every five years = KHR 112,800 (after tax). After 35 years, Chetra gets a total of generated amount after tax is KHR 24,145,200.