Talking about EPF makes me puke.
Keep there longer, then you will see how they misused the Rakyat fund to the max.

There are a lot of occasion which I can feel is that insider buy shares, EPF eat those insider shares and push them up. What the crap is this kind of joke!!

When economy take a boom, share market return more than 100%, EPF declaring 5%+... This is BS to the max, and you can see how they use Rakyat money to make more money for their own

AND discontine the LUMP sum EPF withdrawals.......use annuities........... this will prolong the EPF monies.....
whatever is left of it

prophetjul,

The BEST part of this is IT does not affect civil servants since civil servants are not on EPF.

Dreamer

In addition, allow non-EPF contributors (ie. biz people) to contribute to EPF-like scheme and also top-up for parents and stuff.
"Give the Gomen your cash to manage M'sians, U cant manage it"?

Thats right...........AND they will continue with MGS bond issues to be subscribed by EPF to............to
fund the paying of the 1.6mil GOV SERVANTS salaries and pensions............

Whatta a nice merry go round......... till the EPF cow becomes.............................




This post has been edited by prophetjul: Sep 9 2011, 08:50 AM

That why I don't contribute EPF now. Only contribute when I was still employed.

Not flexible enough for me.

I really no eye see about it..

I guess they are going to announce another increment to the civil servants..

Well, their perception..;'... who cares about the private sector employees', are making me quite fed-up..

They did not do their part to care about the private sector employees..

If this practice continues, we are heading to a more heavily debt nation, thanks to their irrational policy..

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Added on September 13, 2011, 1:02 pmWell, i cannot help to be pessimistic in this sense..

I am now in the watch for the Malaysian economy over the time, the most important time to watch is between the year 2017 to 2021..

MCA comments

Check on the link..

Also sounded like if our country do not achieve high income status in 2020, we will be like Indonesia and Vietnam..

Then, the comments by Dato Tan Seri Idris Jala then i added before also around that time, which is in 2019.

Though, the nation denied the comment, it is better to be extra careful..

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Added on September 13, 2011, 1:04 pmCredit risks are due to default problems by bond issuing companies, which are not related to Public Mutual.. Public Mutual selects the most secure companies who are issuing those bonds..

Anyway, it really depends on the business of those bond issuing companies by that time..

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Added on September 13, 2011, 1:06 pmI think international banks.. Just my opinion..

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Added on September 14, 2011, 10:23 amLets assume that a civil servant work with a basic salary of RM2500, monthly pension is RM1250..

He retires at the age of 58, lives until the age of 80 (Conservative target), the pensioner will get RM15,000 per year just by staying at home, for the 22 years, he gets RM330,000..

Oh my gosh, not yet add the bonus that they can even get without working. And i am only calculating one single staff, how about if we calculate the millions of staff going for retirement soon..



This post has been edited by smartinvestor01: Sep 14 2011, 10:23 AM

Even if going for international banks, be careful too, US and European banks are risky.

I will vote for Singapore banks today.

izzit there will be a recession ?

like this is it better for me to defer buying my bmw with rm100k dp for the time being and keep the cash?

i agreed! it may offer very low interest rate but at least u know you'll be withdraw $$$ when u need it. aviod us or euro banks

Buy what you need the most and invest the rest of the money.
At least try to preserve the value of your money.

put in as1m ok?
or pay into housing loan better?

singapore more likely to get hit by recession 1st/ or at least the technical ones

I wonder why the Euros aren't hitting on Singapore ever since the OECD tax haven blacklist. You'd think if the Euros were strapped for cash, they'd get at those 'pirate lairs'.

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Added on September 14, 2011, 4:20 pmOh wait, they've already been removed from the uncooperative list.

This post has been edited by trencher10: Sep 14 2011, 04:20 PM

Well, i agree with you..

Singapore's economy is at least more safe.. ^^

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Added on September 14, 2011, 11:21 pmI dont think so..

You can see how the country control the inflation rate of the country..

Even the corruption index of the Singapore country is much better compared to our nation..

Check it in Transparency Index

It is somewhere in this website..

Malaysia is rated as 4.4, while Singapore is 9.3, which is slightly more cleaner than the nation.

This post has been edited by smartinvestor01: Sep 14 2011, 11:21 PM

SPOT ON. The key is how to preserve the value of your money.
"There is no ceiling for GOLD …because there is no floor in currencies." - Peter Schiff

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Added on September 14, 2011, 11:42 pm
Robin, here's what thousands of people are doing today...
Buy Genneva Gold and use the monthly hibah (gift based on Shariah principles open to all communities) to pay whatever loans or children's education. Seriously. I'm one of them.... the children's education part I mean. At my age, it would be hell if still have housing loan in the current economic climate of uncertainties.

Sigh.

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Added on September 14, 2011, 11:44 pm
Yeah, use Account 2 of EPF to the max!

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Added on September 14, 2011, 11:50 pm
The answer is NO. Too tired now to summarize the discussion between wodenus and I.
Follow the thread at http://forum.lowyat.net/index.php?showtopi...post&p=43622596

Goodnite.


This post has been edited by PatEagle: Sep 14 2011, 11:50 PM

Genneva Gold - how much is the price per gram compared to others like UOB's physical or gold account?
From my earlier checks and readings, it's at a premium vs other "real gold" and the premium may be the "returns"/hibah "one gets back", thus one is paying one self... sounds like..
My apologies if i'm mistaken

Like 30% above spot........if you like paying yerself.........

The verdict is in. Gold taikor Prophetjul has spoken

BTW, just to share why/how i checked "Geneva" out:

Email a few months ago
------
Based on what i understand and know, it's a sucker's game for customers (or should i say greedy fools). Check this out - spells it out easily how their business model works:
http://www.guizai.com/finance/genneva-gold-investment
Here is how they operate:
1. They usually buy the gold from UOB bullion based on spot price and sell you at 20%-24% markup price
2. They paid their sales agent commission 1.5% for selling this program every time you renew monthly. A total of 18% a year.
3. They promised to buy from you 100% based on your last selling price and pay you 2% 30 days later (but refuse to write down in black and white invoice for 2% as payment but as rebate as discount)
4. The business is usually registered in Malaysia or a Condo address in Singapore with website full of spelling errors and no detailed mention of founders or their management team.

With the markup, they pay U with your own $ ;P. How long can this last? It depends on how many suckers continue buying.
Mama says dont pay $1.24 for something everyone is selling for $1, to make/sellback $0.02 per month AND it's not written in any contract

--------
On Fri, Jul 15, 2011 at 10:46 PM, XXX <xxx> wrote:

Hi there, MK.

Gold Investment 1.5-2% Montly Interest Rate.... Too Good To Be True.

Recalled telling you one of my friends is doing this gold investment thing.
He was unable/ reluctant to give me the details one year ago but recently when we
met up, he told me the company name is Geneva/ Gineva.....
Giving upto 1.5-2% interest rate/ month based on the amout u buy.

When asked hw come they are willing to share the profit with buyers...
His answer is interesting: " These companies are buying many many kgs of GOLD
they got good rate....so when we buy ..the use our money for further purchase of gold."
Can GOLD be purchased at lower rate if bought in a bulk....???
Sounds news to me....GOLD is commodity...
Not any barangan in TESCO, Giant...MyDin? True/ False???

There are many stories on this Geneva/Gineva Gold investment online.

However, online resources aside, have you heard of this Geneva/Gineva?

I have to admit that this is not my field...as you read much more than I do on this
area. Kindly share your expert opinion.....before you share with Personal Money.

Whaahhhhhahahahaha

This post has been edited by wongmunkeong: Sep 15 2011, 10:55 AM

They CAN sustain the 1.5% payment PROVIDED their sales continue to ride on the gold wave(it could be
TULIPS as long as its the intthing)
Imagine if gold price turns down 30% today and the flavour goes out of the window?