In 2018, I fundraised MYR5,000 (USD1,200) for Julita, my visually impaired massage therapist. The fundraiser received RM5,000 (USD1,200) and through the help of a financial planner, we invested the funds in two markets. In the 3 years, the funds have grown by 28%, worth more than MYR8,000 (USD2,000) now.
Who is Julita, and why am I choosing her as my cause?
I met Julita in October 2016. She is a full time freelance massage therapist, with no health, medical insurance, no accident coverage, paid holidays, or paid sick leave. Of course, she also does not have an Employment Provision Fund (Malaysia's retirement scheme). She is not employed nor contracted to any massage centre, and has no legal employer
- this is normal for freelance massage therapists in Malaysia. Our government's welfare system supports 'employed' People With Disabilities by providing a monthly allowance of MYR450 (USD100), on condition the person shows a legitimate source of income.
Her funds are currently standing at MYR8,000 (USD2,000), which will hopefully grow over the next decade. But we all know you need a bit more than that to retire. Even if it grows up to MYR30,000 (USD7,300), it will not be enough, especially with the inflation rate we're experiencing, and the likelihood of early retirement due to medical conditions as a massage therapist (arthritis, pothole accidents in Brickfields).
So, what would I like?
I am hoping to raise another MYR 8,000 this year (USD2,000), this will :
1. Ensure the continuation of her retirement investments
2. Top up the12 months of suspended contribution (she pays MYR200/ USD 50 per month to the funds)
We need MYR2,400 / USD580 to cover the last 12 months.