Must share who, so can learn from them.

I think the forecast is just for spending post retirement, which should significantly fall given the loss of income, and presumably fewer big ticket items by then.

double that

EPF for expats is optional actually.

The ratio has always been up and down and close to 100%

They should questioned why it was so low last year instead.

Im sure they will say due to the special withdrawal thing.

Imagine if one moved to Shariah because they saw this year's returns

https://open.dosm.gov.my/dashboard/consumer-prices

DOSM is pretty open about inflation rate.

https://www.imf.org/en/Countries/MYS

IMF also tracks it so it's not something one can really lie that much about.

But inflation just means how many % increase it was, it doesn't mean prices come down unless it's deflation. Secondly, it's against a basket of things so you don't feel it if it's for something you do not really spend on.

Such a pointless article.

RM900k vs S$237,000.

Currency wise, yes of course its good. But, you live in the respective country no, so why would currency strength makes any difference?

If one retires at 65 and lives another 15 years:
At MYR900k, you can spend RM5,000 a month.
At SGD237k, you can spend SGD1,317 a month.

I think you can stretch the RM5k way easier than the SGD1.3k.

So, it's like saying since US median retirement saving by 60 is around USD$456k, this means its RM2mil and they can live like a king in US. But in reality it translates to around USD2.5k a month for retirement, which puts you out of places like NY.

Wait until you see the tax system for those nations.

If you bitch about 20% tax in MY now, try living in Denmark.

Ya, even that people complain already. So imagine if they do the European style tax.

Covid time also you got 5.x%.

I just keep in mind, EPF is like FD meant to keep up with inflation and ensure good retirement. That's it. As long as they deliver above inflation cukup.

My portfolio is getting a hell of a beating this year, so EPF is a good respite from the current turbulence.

You can.

Can set up auto transfer also, that is a nice touch.

Just FI enough. I don't want to die early

https://hbr.org/2016/10/youre-likely-to-liv...retire-after-65

Then shouldn't rely on EPF on this?

EPF is meant to safeguard one's retirement rather than serve as a piggy bank. It's a different tool.

Same as one that invest in index funds cannot compare their returns in a year vs individual stocks and get angry on why its not the same.

Quite clear d ma.

Plus you have Acc 3 and also Acc 2 for those hitting 50yo.

If you don't find another way to generate 5.5% annually, EPF is still a pretty great place.

What I've learned in my working experience is having good earning capacity does not equate to having good financial literacy.

Same like Maybank CFO, you would assume someone with her stature, knowledge and experience would know better but at last almost got conned.

Secondly, a lot live beyond their means, having millions in EPF might mean they are making good money, at the same time they might be spending good money and as such, need to continue to 'find' money even though they are close to retirement.

I've had people begging the CEO to extend their retirement because they can't afford to retire, having still millions in unpaid bungalow mortgage, and million in expected child schooling.

EPF also have external fund managers that also invest overseas.

Frankly, people who think EPF with its RM1 trillion AUM will die because people chose to withdraw a few million ringgit are severely misguided.

Secondly, EPF is diversified. It had equities, fixed assets, bonds etc. Why do people think EPF only invest in equities?

https://www.bernama.com/en/news.php?id=2358456

https://theedgemalaysia.com/node/745519

Here.





Not allowing withdrawal before your retirement is a good thing.

Most people here don't save, don't invest or invest poorly. That is why you hear people complaining why they cannot withdraw their retirement fund when they are in their 30's and 40's. Shouldn't the question be why are they so poor at financial management that they need to withdraw the funds prematurely?

Secondly, for all the people that keep talking about EPF being their money, don't forget the companies are forced to fund half of it because the government mandates it. You are happy the government set up rules that make companies pay an additional 12-15% of your salary, but not happy the government sets up rules against you taking it early? You can't have it both ways.