@jeff_ckf,
Let me go into RHB website and use the calculator and let U know what it says

It's good to know it's there but it's prolly best to know it's not there; that way when U can take the $ out, it's really additional 'bonus' !

--Added--
I just calculated but I don't haf my current figure and it doesn't even reach RM200k !! Talk about RM1m !!

This post has been edited by tinkerbel: Jun 26 2008, 12:30 PM

not my friend la....my cousin friend....

@tinkerbel

I hope I don't have to take the money out and instead create my own EPF from now onwards

Let the EPF go to my future generation (ok thinking too far here....come back to Earth please)

@jeff_ckf,
I don't believe in leaving $ for the future generation; they should learn to create their own wealth; my insurance $ should be more than suffice

I do however believe in providing education.

Eh.. we've gone totally off track!

@tinkerbel

*Pulls back to the topic of FD rates*

just curious what u spend until 2k+ monthly is not enough.....

2k 30 years? u think 30 years interest rate wont change? if interest rate wont change then 2k for another 30y is possible

how much inflation going to eat into ur saving.....

i calculated 1m 3% fd its like 2.5k monthly
if i calculate using 3.7% its like 3k monthly

i calculate like this......1k food 400 electricity.....20 water 20 gas....100 internet 100 phone ...u can add more...thats just like 1.6k still have 900.....1year u have 10k extra

10k deduct 1k on chinese new year cloth,shoe.....door tax.....road tax........what more?
5k on oil(over estimate)....optional......basically this is not going to be my problem., looking for alternative rather than oil
smoker 2xx per month 2k+ per year so i make it 3k per year on cigaret (i dont smoke)

still have 1k extra
another 6k if ur using 3.7% rate

then maybe 6k go for vacation?
if inflation really eat into ur monthly 2.5k or 3k then no vacation lo....dont go out that much lo....quit smoking...since its bad for ur health

not to mention u still have 1m sitting in ur FD

*i m not saying FD is ur solution to retirement.....i just saying 1m in FD is enough for me*

*there is alot more investment out there with higher yields*

This post has been edited by dr2k3: Jun 26 2008, 01:44 PM

House loan, car loan... more than 2K already.

This post has been edited by wodenus: Jun 26 2008, 03:41 PM

@dr2k3
If you sincerely believe that RM 2k per month is enough to live a comfortable (not extravagant or flashy) life, then by all means good for you. I could come up with alot of examples on why it is not enough but it would really take too much of my time doing the discounted cash flow for you to see.

However, to put it as basic as possible, just look at the price of a Honda Civic now (*grins at tinkerbel*) and the price of a Honda Civic 30 years ago (my dad's era). The price is from 120k onwards. 30 years ago, it was only 10k and its directly imported from Japan mind you. Now back to your RM 2k per month that you will get, applying the same concept (although we shouldn't due to population growth and variable economic factors that doesn't go on a linear basis), it would be around RM 200 - 300 now.

If that is not enough to change your mind, try this phrase....MEDICAL FEES. I'm sure you have health insurance and etc but if you really think it is all good and fine, by all means rejoice

@wodenus

You should've settled ALL your loans by the time you retire. In fact, the last five years of your working life should ideally be used to build up your last bit of concrete for your retirement.

Well if you're comparing no-risk and no-risk, 0.1% of Rm100,000 is Rm1,000

100k 0.1% is 100 la ~ ur math failed

erm....dun use car as example (material increase car also increase, most speculator trade this kind of comodities)...as its a big amount....if u buy an expensive car when u retire (no job) thats not a good idea.....car value drop very fast....in fact...they drop once u use it

u should use food instead.....i've no idea whats the price is 20 years ago...but 10 years ago when im student...the price of food is not much diff than now....only increase by duno how many %

even if food rise 200% in 30 or 40 years.....u will still have alot spare

just now i give alot example.......5k from oil....this figure i use is base on working people daily travel....since u retire there wont be such number

if ur non smoker...extra....

as for medical fee....i eat healthy......mostly vege.......and since u r retired u r mostly free from stress, usually stress is the main cause of all diseases

let say u sick every year( duno how u live if u sick every year that need high fee).....8k every year enuf?

like u say 30 years ago diff....so is interest rate...it might be diff later in 10-30 years

2k-3k become value of 200-300? that only possible if MY economy collapse again.....currency depreciation...

This post has been edited by dr2k3: Jun 26 2008, 05:53 PM

@dr2k3

Diseases come from the stress you suffered during your young age And to be in poverty gives me a lot of stress....I need substantial amount of income to pacify my 'kiasiness'. So I need more than 1 million. Like I said, if you really think 30 years down the road, 2k is enough, then rejoice. And yes food has increased 300% in my small town. A bowl of noodles costed RM 0.80 when I came to this town 20 years ago. Now it is RM 2.50. So that would be around 150% increment for every decade.

well..u be healthy if u change ur lifestyle/eating habbit

i saw on TV a prof got 3rd stage cancer.....cancer cell spread to other body....to doctor thats like death

but he change his eatting habbit.....and he actually recover from cancer.....

now he is a famous.....erm...what do you call that specialise in food thingy prof

@dr2k3

I rest my case since you are so full of optimism

lol....

the way i live and how i calculate thiing im actually a pessimist

i just belief in statistic

Then you are reading the wrong books or publications What kind of profession are you and what did you study in Uni?

This post has been edited by jeff_ckf: Jun 26 2008, 06:13 PM

erm...maybe i use wrong word

i did not goto college or uni....no $$ =/

@dr2k3

Hmm....I would suggest you read more on your spare time and although I agree that living frugally during retirement is the norm, there is a thin line that separates frugality and poverty.

well..now i self study on investment thingy......very interested in stock market n stuff...ofcoz not malaysia stock market.....low liquidity....

@dr2k3,
Just what do U mean by low liquidity?

@jeff_ckf,
Y look at me? Not v pretti also

This post has been edited by tinkerbel: Jun 26 2008, 06:27 PM

low liquidity how to say...erm....cash = liquid

not much cash flow....the price wont move much....or no volume

hard to explain...not good with word