Wait for VSS if company got, get bonus retirement fund before cabut...🤑

he can be waiting for the Golden Handshake

Stop worrying too much about 30 or 40 years later.
We work and save as much as, and hope of good return on our saving.
Who's know what will happen 20 or 30 years later on.

Everyone knows money get smaller over the time due to inflation, doesn't means we shouldn't save money for future.

that is why I am proposing to push it up to 500k so u get 2k per month for 20 years
then anything more than that allow withdrawal or move it to account 3
again all this is just my wishful thinking as this will never happen

==========
i still dont understand why EPF say 240k saving will give 1k per year for 20 years...  is not a true statement and EPF is kinda misleading because:

1. 240k with 5% dividend will give you extra 12k per year
2. if you keep spending your dividend then never spend on your principal basically you can last forever
3. so the balance 240k when die you will never get to spend so this is bad planning and bad advice
4. The correct amount should be near to 1.5k as per chatgpt if we want to zero our EPF after 20 years

ChatGPT:
Therefore, you can spend approximately $1,496.54 per month from your $240,000 savings account to ensure it lasts for 20 years, given that it earns 5% interest per year with monthly payouts. This calculation ensures that even with monthly withdrawals, the account balance should last through the 20-year period accounting for the interest earned each month.

Need to save is one things, but beable to maximise the returns with that saved money to suits one portfolio is another thing.

Knowing to save is a good thing, being able to allocates it in a holistic portfolio is a better thing

Since everyone knows money get smaller over the time due to inflation, isn't it a better thing to beable to try to allocates the portfolio to try not to makes our money smaller over time?

There is no magic formula or certain way to beat inflation.
the is a forummer that said his portfolio can and his blogger mentors has been for many many years doing that.
Some said investment can, but if invest wrongly, not only cannot beat inflation, but losing the capital as well, worst than FD and EPF. Have seen many cases, and experienced by my ownself as well.

There is no way to maximise return.
Trying to maximise return is like trying to sell share at highest point, and buy at lowest point, which we know it is impossible and something we can't control.
can you control the placement of your extra money?  Would you still want to put into a depreciating assets (myr) or would you want to try go for other?
The message is : stop worrying something that we can't control.
If you want to hv 1 million 33 yrs later that 8s equivalent to the purchasing power of 270k of today's value, then there is no need to worry, just go as the epf route and the 400 per month into epf too (as the earlier post by another forummer)

Just work hard, save enough, allocate and diversify asset and hoping return can out beat the inflation.
Needless to count how much 1 mil will be worth after 30 years. Worrying too much, bad for health. Bad health, more money needs for retirement to pay for medical bill. 
that is why they advocates medical insurance to be apart of saving for retirement planning

Life is short, needless to count too far away especially something 30 years down the road. Who's know future economy become deflation, just like what happened on Japan lost decades economy.
that is why need to diversify ...you had already had abt 20% of your pay into epf already, do you still want to add more onto epf or outside of malaysia? No right no wrong, ... but i prefer not to set the goal at 1 million MYR, 33 yrs later.
Set it higher. If possible with the same amount of monthly saving.

For age 55 person. Can they deposit extra money into EPF to earn interest? Since after 55year, withdraw can be anytime right?

For age 55 person. Can they deposit extra money into EPF to earn interest? Since after 55year, withdraw can be anytime right?

For age 55 person. Can they deposit extra money into EPF to earn interest? Since after 55year, withdraw can be anytime right?

Can deposit till 75yo 👌

And earned dividend till 100yo

Withdrawal also anytime

Can deposit till 75yo 👌

And earned dividend till 100yo

Withdrawal also anytime

follow the same, self contribution 100k a year for now? and also any contribution as a working employee?

Once passed 55, monthly employment contribution goes to another account where upon reaching 60 only can withdraw. Not sure this is applicable to the self contribution portion.

Once passed 55, monthly employment contribution goes to another account where upon reaching 60 only can withdraw. Not sure this is applicable to the self contribution portion.

If you make self contribution payment after turning the age 55, then,
Your contributions will be deposited into Akaun Emas and can only be withdrawn after you reach the age of 60.

https://www.kwsp.gov.my/member/savings/self-contribution

Everything goes into account Emas...

After 60yo... All combined into 1 account... And unlimited access to the $$$

What about >1M? Still can only be withdrawn after age 60?