Prorated

Cause it's a retirement fund

Employees' Provident Fund is a federal statutory body under the purview of the Ministry of Finance. It manages the compulsory savings plan and retirement planning for private sector workers in Malaysia. Wikipedia

using EPF money to pay for house loan is always a negative move.

yes, house may increase in value, but EPF goes by compounding growth. that even house can't beat which only has linear growth.

epf has 0 maintenance cost for its final interest rate, house has cukai pintu, cukai tanah, bil air, bil elektrik, maintenance fee, wear and tear costs etc etc.

time and effort to put into looking after the place, find tenant, clean place.

if everything needs a number, then put time and effort a value to them too.

then it will be less than 10%.

one needs lots of effort
one needs 0 work.

two very different things.

property in this country has changed.

shoe box sizes property up 10% 5 years? past 10 years have been stagnant. only developers and banks are winners.

you can 200% guarantee house price goes up 10% every 5 years?

people write here without thinking about time cost, distance cost, lawyer cost, bill costs to attend to the house.

but if you can lay hand on below market price properties - how much time you put on it?

it takes time to find, bid, clean, work on it etc.

if keep on talking like this, might as well call it business, and anytime can say it's better than epf.

EPF is passive, effortless, mindless.

is property investment the same?

so i don't compare them cause they are not equal.

to each their own. some do well in property, good for them. some prefer epf, good for them.

yes, try liquidate properties right now, remember to deduct lawyer, agent, document fee etc. 3-6 months also cannot see the money.

try withdraw epf now, its done as soon as possible

how to compare both.

i wont own anymore property in malaysia too, all loans paid.

nothing but a game of developers and banks, leading malaysians to be in debt for 30 years living in a shoe box.

LIQUIDITY IS KING.

I think there are many ways you can withdraw epf. I withdrew 120k before.

I already find them very lenient in allowing people to withdraw. Hence don't mind keep putting more fund into epf

Consider that a forced and disciplined saving

But if your kind of emergency isn't listed in any of those, then maybe finance 101: to have 3-6 mths min of emergency fund.

I never think I'm entitled to my epf before i hit 50. They're for my future self, not current self who couldn't manage finance well.

Whatever you want? Then have a pot of your own money to do that. Epf isn't meant for that. How difficult to have a pot of money to buy whatever you want? If you don't have that pot of money, even more important you shouldn't touch epf. Young and bright already no savings of your own and want to touch your old age fund. Don't you think it's very irresponsible?

What's need? A brand new phone? A brand new clothes? A brand new watch? A brand new car?

Salary X
11% to EPF
10% income tax (simply put a number)

You've around 80% to play with your budget. Bills, monthly loan payment, daily expenses and savings. The usual is, pay all bills and loans first, put X amount of money as additional savings and the rest you can freely spent.

If you can't even save 10% from that 80% to have that pot of money to put whatever you want and need to dip your hands into the last 11% of your salary meant for old age, then you clearly have overspent



.

Property and other better investment

I think best we remain this an epf topic

Passive
Effortless
Low risk

Did my last round of contribution for year 2022 for my future self. 🙏



This post has been edited by gashout: Dec 30 2022, 12:24 PM

It'll be credited in 2 days time yea.

You smashed it on this one. An example for many to follow.

Wishing everyone a good 2023 too

follow terms and conditions as set in epf website.

account 2 can still be withdrawn, yes.

https://www.kwsp.gov.my/member/withdrawals

best to never touch your epf until your old age

if need, only acc 2,

if you also want to touch your acc 1, then you really dont have enough to spend, even more reason not to touch acc 1 or epf.

set a target for 2023, how much you want your epf account to have.

This post has been edited by gashout: Dec 31 2022, 12:54 PM

Did yesterday.

In today

Everyone is on a different journey

Different lives, stories, challenges, income, expenses

Just do your best

If you're not buying Starbucks and eat out everyday or change new car and hp every year, you're doing well

Monthly contribution that obtain pro-rated dividend i.e. dividend for the n-month will get (12-n) month dividend. For example, the September contribution (n=9) will obtain a 3 months dividend. Under Section 27 of the EPF Act 1991, the guaranteed minimum dividend rate is 2.5% per year on members' savings.

Sept 1 put in also no count
Same like Sept 30

So make sure put before Oct to earn Oct dividend

So best put end September to start earning October

I'm also targeting the same

PM 10 effect will only show in the coming few years

2022 dividend will still be based on past leadership

agree. correct

dont work till die. life also no time to enjoy

must enjoy life!