Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 EPF Account 1, Where to invest it

views
     
Jordy
post May 20 2009, 01:34 AM

Entrepreneur
Group Icon
Elite
5,626 posts

Joined: Nov 2004
From: Klang, Selangor


QUOTE(alien0110 @ May 19 2009, 01:56 PM)
EPF is ur retirement fund, better leave it there. Invest in unit trust only with ur extra money.
*
Is it even ENOUGH for your retirement? If not, why let them use OUR money on useless projects? Make our own plan by investing in something we could really trust.
Jordy
post May 20 2009, 01:48 PM

Entrepreneur
Group Icon
Elite
5,626 posts

Joined: Nov 2004
From: Klang, Selangor


QUOTE(omniknight86 @ May 20 2009, 01:21 PM)
you can used it to purchase of property such as house or shops lot. but however choose the location wisely as if you buy the wrong location then you might face installment which you find it hard to cope with
*
omniknight86,

Please be aware that only money from Account 2 is eligible for loan repayments, and only for the first house (if I am not mistaken).
Jordy
post May 20 2009, 09:27 PM

Entrepreneur
Group Icon
Elite
5,626 posts

Joined: Nov 2004
From: Klang, Selangor


QUOTE(omniknight86 @ May 20 2009, 02:15 PM)
TS does not mentioned is 1st time investment or what. so i just suggest him one, anyway everyone does it for installment of house. i do not think so is only for the first house because some friend of mine had brought the second house and still getting EPF out to pay for the house.
*
omniknight86,

Please take a look at TS' topic (EPF Account 1). Housing and education loan withdrawal can ONLY be made under Account 2. That is stated VERY clearly in their terms. I take my words back on the first homebuyers issue, but do take a look at the fine print as posted by numbertwo (you can only pay for your second home's loan using EPF money AFTER you have sold your first home paid using EPF money).

QUOTE(atake @ May 20 2009, 04:30 PM)
My query more towards to Account I utilization for investment purpose :

I thought it will be a good idea to invest into ASW2020 as it capital protected and consistent return of >5% every year but my friend suggest me to invest in unit trust such as public mutual as i can get more than 10% a year with condition that fund perform well (not quite sure with the current economy situation ). Others said just leave it in EPF as it safe.So,what do you guys think?
*
Yes, what your friend said is true. But ask yourself these questions (as everybody can take different levels of risks).

- Do you think the stock market will be insolvent?
- Would you be making pre-matured withdrawal from EPF?
- What type of lifestyle do you want after retirement?
- Do you think that ASW will be paying a lot more dividend than EPF?

If the answers are mostly NO, then I suggest you invest them in unit trust.
If the answers are mostly YES, then I suggest you keep the money in EPF.

Frankly, ASW will NOT pay a lot more than EPF (maybe they would pay 1-2 cents higher than EPF), but what difference does it make on the few thousands? Please be aware that you can ONLY withdraw to a maximum of 20% from your EPF Account 1 for investment purposes, and you have a threshold level to adhere to (depending on your age). Do check if your Account 1 balance is sufficient to be invested or not before going further. If you need some help to do the checking, I am more than happy to provide you with free consultation.

This post has been edited by Jordy: May 20 2009, 09:29 PM
Jordy
post May 21 2009, 12:26 AM

Entrepreneur
Group Icon
Elite
5,626 posts

Joined: Nov 2004
From: Klang, Selangor


QUOTE(omniknight86 @ May 20 2009, 09:59 PM)
there are tricks that you can escape from this limitation which is widely practiced by friends around me  smile.gif
*
omniknight86,

If there are tricks which exist and which worked, do SHARE with us, else I don't really see a point of bragging of such "tricks" here.
Jordy
post May 21 2009, 05:39 PM

Entrepreneur
Group Icon
Elite
5,626 posts

Joined: Nov 2004
From: Klang, Selangor


QUOTE(numbertwo @ May 21 2009, 04:40 PM)
if i'm not mistaken, you should be able to withdraw all from acc2 to settle loan, or buy house 1/2.  As to the acct1/2 ratio, not sure..maybe 30/70 or 40/60.. u have to check.
*
numbertwo,

For your information, the actual ratio for Account 1 and 2 is 70:30 smile.gif
So in cic.lemur's case, he would be having RM 70k in Account 1 and RM 30k in Account 2.

QUOTE(cic.lemur @ May 21 2009, 04:54 PM)
Thanks.

To settle loan you mean if I get a bank loan to pay for house, I can later withdraw from EPF to settle some of the loan? But I can only do this once, to buy the first house right (I mean legally).
*
Based on what numbertwo has pointed out, it is not only restricted to the first house. It is actually for ANY one of your houses (be it your first or second). Please be informed smile.gif
Jordy
post May 29 2009, 09:10 AM

Entrepreneur
Group Icon
Elite
5,626 posts

Joined: Nov 2004
From: Klang, Selangor


QUOTE(cic.lemur @ May 28 2009, 11:53 AM)
Hi, got another question hope someone can help, what if I buy my first house without using EPF, when I buy the second house can I withdraw from EPF?

In other words, my question is, can the EPF account 2 be used only for your first house, or can it be used to buy second house provided you haven't used it to get the first house?

Thanks
*
cic.lemur,

Didn't you see my previous post?

QUOTE(Jordy @ May 21 2009, 05:39 PM)
numbertwo,

For your information, the actual ratio for Account 1 and 2 is 70:30 smile.gif
So in cic.lemur's case, he would be having RM 70k in Account 1 and RM 30k in Account 2.
Based on what numbertwo has pointed out, it is not only restricted to the first house. It is actually for ANY one of your houses (be it your first or second). Please be informed smile.gif
*

 

Change to:
| Lo-Fi Version
0.0395sec    0.43    7 queries    GZIP Disabled
Time is now: 29th March 2024 - 01:39 PM