Some countries may impose high personal tax, but they provide good public service and benefits.

What do we get in Malaysia?

I can tell you that RM1 mil is not enough even if you retire today. Much less 30 years from now.

In 30 Years, the RM100 is RM30 in present value. i suppose one can still live on Rm30 today.

If you are living in KL, I would say RM5k is minimum hidup bermaruah. You also need to consider car maintenance, house maintenance, cukai pintu, cukai Tanah, condo maintenance fees, internet, electric as minimum basic into your calculations. 4 biji tyres is already RM1.2k now for a b segment car.
And if you have a few properties, need to pay more for the cukai pintu and Tanah.

So example, if you target 10k, when inflation hits, that 10k can still become RM5k 30 years later.

later next year FD raise until 7%, regret kaw kaw.

Not yet lah... probably next year.

Anyway, RM1mil is nothing to shout about...USD 200++K only. Less mentioned, the better. 20 years ago RM1 mil maybe ok lah.

To be honest I'm not satisfied at all with epf interest. So low so little. Back in 2020 I earn more from bitcoin than my epf interests

False narrative with hidden agenda.

The rich doesn't need EPF to preserve their wealth. Do your maths, anyone who consistently contributes in his or her working span would be able reach a good savings in EPF. Common people, they are. They are the ones who realize the importance of retirement savings and not withdraw.

But now, people like you want to deprive them of EQUAL and FAIR dividend because of them being prudence? Nonsense.

Why are you still working at 60yo? And here I am thinking of retiring by 45yo.

Since i was using 10-12k as an example before, i will elaborate on this.

I am not single, but i decided not to have kids (i had decided on this since i was 16-17 years old, when i was still in secondary school). IMHO, 10-15k monthly without working is still considering a lot even "in the future", at least for me.
Currently my life is, i can spend 200-400rm in one dinner, and can buy anything as long as i want. But i realised one thing, i won't always eat a breakfast/lunch/dinner a few hundred rm daily or frequently, because i can't eat so much (and those foods are mostly seafoods, like crabs, prawns), and my favourite foods are always chicken rice (i can eat chicken rice 3 times a day no joke), so i guess i won't be spending too much on foods.

As mentioned i am a safe person, if i aim rm 10-15k, then it is just a safe point. In fact,  if i stopped working, i still have dividens coming in which could range from a few hundred K to a mil per year, but i just don't count it in since i treat this as a "bonus" due to i won't know when will the company out the dividen altho it is quite consistently for the past few years. And if EPF always giving 5-6% yearly, my calculation is always using 4% as the benchmark, i aim the worst, if it is more than 4%, it is a bonus.

As for life after retirement, i have ways too many things to do due to i have many hobbies :
1. Coding. I used to code 12 hours as day and i loved coding a lot, may be i will learn back something after i am retired
2. Gaming. i am in between 70s-80s, i started gaming when i was 4-5 years old on atari, and then famicom, super famicom, mega drive, gam gear, arcade (went in arcade when i was 16), ps1, until now ps5 and i am still gaming daily. Pre-orderd a PSVR2 for virtual reality and will get it on February next year.
3. Collecting collectibles / statues.
4. Cycling. I used to cycling a few hours a day during my secondary school era, already planned to get a basikal once i am retired (i went to some shops to check them out, holyshit, those basikals are crazily expensive, my mind still stuck at the time i spent rm 100+ for a BMX)
5. Lucid dream, hypnosis, meditation , etc are the topics i am always interested, i will spend more time on these.

The thing he should compared the house value vs EPF value contributed for sure one thing the house value should beats the EPF contribution itself

No you are wrong, my sharing of that spreadsht is only to show non believers who

1) cant  agree with prophetjul's post prop earning CAN BE much better than EPF
2) said  buy properties after 1996 -2013 cant make money, cant beat EPF

My spreadsheet is real life proof buy late from  2012 to 2019 still can make good profit

Please dont  think it was meant to  tell you guys go withdraw EPF money buy properties.

As for your worries about props so difficult to handle
for me it was easy, my brother does all the work. but that is beside the main point

It is the last day of the year again. This year is quite fruitful for me and hope everything is going well next year.

Contributed RM 195k into EPF this year, until this moment i still think i did the right move and will continue to do so.



Hope they will agree to increase the self contribution limit to be RM 100k and i will aim to contribute RM 280K-300K next year.

Have a good 2023 everyone!

World wide market all down. US market kantoi. Expecting bigger crash coming, it's confirmed. 

If got 5 % already cukur. It's impossible for 6%. Next year will probably goes down to 4%.

Comes to think on it, maybe I shouldn't self contribute EPF for this year. FD might better

Ya man , retire early man , life is short make it sweet.

It was mentioned by a very rich man that if one has cash 20m
any amount above it will not make much difference.

Donno lah , I personally think 5m pun ok dy and can live
very senang life , ifong , maid , annual holidays , fine dining ,
massage hehehe , dan macam macam.

Anyway human is leasehold , even anything freehold , one cant pegang
forever.

5m in EPF dividend 5pct 250k , about mouth watering 20k per mth ,
apa lagi mauu ???

Correct or not ??

T20 contributing higher tax money to the government. Something very wrong if T20 are not allowed to use the government hospital. Logically, they should be treated as VIP rather than blocked from using government hospitals.

Btw, 10k is not much. Private hospitals are vampires, i have no idea how they can set the charges to be so crazily high.

Wow..1.5k pm only! Can share breakdown for that?

On Housing n car, my take is that even when fully paid,  need to take into account replacement n maintenance.

For example car. Say if retire at 60 years old and the car is 7 years old. You can probably still drive until say 75 years old. You probably need to replace the car before that.

House. After 20+ years, houses usually will need big repairs. Plumbing, drainage, roof etc. Can cost a lot.

Then there is medical. You can save some money by going government hospitals, but govt doesnt cover post hospitalization care. No kids somemore to assist. So your spouse will probably need a maid if, touchwood, u kena major stroke or something serious like that.