It was 50 years ago

Unker read that a lot of fellas wanna take out their EPF via ACC 3 , and then kungfu here and there... transfer here and there to squeeze more returns
While Unker understand some people are Bruce Lee when it comes to finances, but most people overestimate themselves to do big kick move like splitting their legs.
Most likely, these amateurs will ended up busting their nest eggs

Less than that. You can eat a bowl of meal for 30 cent

When you're old fart like Unker, you wouldn't take yourself so seriously anymore

Unker has roamed the earth surface for many decades and sometimes find the heated discussion on SGDMYR quite funny. Because during my time, people would be talking about the GBPMYR.
Unker remembered many of my friends sent their kids to study in UK. They paid millions to make sure their kids graduated & find a job there. They used same type of argument back then to send kids, wife, money all into UK. Malaysia is going bankrupt lah. Corruption lah. Racists lah. Ringgit depreciation lah. ...etc

Last few years, Unker heard GBPMYR plunge to all time low. Unker scratched my head. If all the arguments were true, then why GBPMYR plunge to all time low? Those who made the decision to transfer money to UK start to bomb Unker. Finally, Unker realised that not many people have the ability to self investigate their past decision. They will just find a new narrative to support their decision even though it's proven wrong.

Then, Unker suddenly heard, nowadays people send kids to Australia. Unker also heard the same reasons. Unker scratched head again. But this time, not much hair left.

That's why Unker does not encourage people kungfu here and there. Stay calm and look around you. Don't read too much statistics and facts because smart assh### know how to play up numbers to their advantage.

Unker see so many millionaires around. Big cars, big house, people taking vacation 3 times a year. Malaysian are living in golden era despite what the news says.

Currency goes up and down. If u run the numbers, at 5% dividend per year, EPF will outrun any SGDMYR appreciation over time. Unker use common sense only. Unker doesn't know Excel

Unker think UT is the best teacher in providing "financial teaching" for newbies on the impact of fees overtime on their investment.

Without UT, they won't have painful experience and hence, slow down their learning.

So, we should keep UT as a good model for things which doesn't work.

Can u help please help Unker run some numbers. Unker wanna know whether those who keep in EPF for 30 years earn more leh OR those who transfer to Singapore and put into FD earn more?

Unker guess EPF win hands down even with Ringgit depreciation. Unker use common sense only. Unker doesn't know excel.

FD in Singapore would be more suitable as comparable because the risk profile is quite similar to EPF. It's not exactly the same but quite close.

Don't use stock because highly risky.

Probably can use Singapore 1 year T bill to compare with EPF.

Should include FX losses 0.5% during transfer.

Anyone up for the challenge to prove Unker common sense is wrong?

Don't tell Unker that transfering to Singapore is going to win over time without running the numbers.

Unker use common sense only. Don't really understand how some people said it's better to withdraw from EPF to transfer to SGD.

This post has been edited by boyboycute: Sep 21 2024, 01:22 PM

Please look for the evidence again.

Unker can feel common sense is winning here.

Unker agree EPF is making decision for all the children out there. Most of them don't know how to behave properly. But there are small proportion who can manage their wealth properly. They're those with above 1mil EPF savings.

Those who made it to the TOP 0.5% have shown that they can save & invest for themselves.



This post has been edited by boyboycute: Dec 16 2024, 11:40 PM

Unker think the retirement age wouldn't last and will be increased further for your own good since your life span is increasing as well

Even though the recent changes doesn't affect Unker financially, it has shaken Unker's psychology.

Unker may move out some $$$ just in case they move the goalpost again in the future. Unker can safely get 5-6% in bond. Unker doesn't need to play this game anymore. It's impossible to win when rules keep on changing

This post has been edited by boyboycute: Dec 16 2024, 11:39 PM

But again, with the pen in their hands, they ...

This post has been edited by boyboycute: Dec 16 2024, 11:37 PM

Like playing sandbox

You can only restrict your children until they're 15 years old. After that, if you continue to dictate how they should live their life, they will probably leave your house and go somewhere else.

Can't afford to do that if u look at the numbers

So far, withdrawal for 1 mil in excess still available....

Still have time to get out before goalpost is shifting again.

Those looking to FIRE may have to take risk else where

Looks like a lot of fella who want to FIRE with EPF may have their funds totally locked out until they're 55. This group may have to work a little bit longer

Goalpost has been moved to 1.3 million recently. It will happen gradually