you guys took a november snapshot of how much in account or not before KWSP went down?...

pump up to 5mil jerrr mininum...
after this is reached... you can consider higher risk/rewards investments...

worst case, if all those burnt... you're still a 20k passive income earner in /ketatz eyes...

For those above 1 mil oredi...

acct 3 is redundant...

might as well ensure monei is in acct 1 and 2 as you would still have the flexibility to take out...

how can!... modsetanz oredi in other post flexing his 1mil inkambing...

https://forum.lowyat.net/topic/5452051


ayamz belip if i throw 1 stone in /k with eyes closed will surely kena few peeplz with 1mil stashed up soomewhere...

This is really gonna be scary if they cant hold above 5.

We're in a 3 body problem then with EPF :

- Not enough money to retire
- lower dividend returns
- Inflation and currency devaluation

oredi say 5mil needed for retirement... taking into account of cheaper labour in future (AI/robotics), WAR and Climate change ( inflation )

if not retirement is luxury for everyone else..

We dont know what the future holds, alot of tax can still be implemented :-
- ESG's carbon tax.
- Capital gain's tax.
- Unrealized capital gains tax.

Also price of goods will sky rocket due to climate change and resource scarcity.

Expect to also pay more on what you've listed down due to upward spike in inflation globally after 2030.

you only need 2 mil by 40...

it takes 20 years to roughly double up your money just with existing dividends from epf alone. If self contribute, faster will reach there...

This is exactly the same reason why 5mil is nice to have in there..
that gives you 250k per year... hence 1mil every 4 years to spend tax free.. by cash..

I live off my from other investments ... but epfs is for bulky expensive purchase by cash would be non issues from any authority.

Nowadays I noticed that when you open the KWSP app, it pops up a window asking you whether you wanna change to Syariah or not. Too me seems like each time i open the app now i'm getting into a kok trap!....

why they need to force it down to peoples throat like that... if accidently clicked on it mati la... will die in otel kalifornia room.

just put like any ordinary option la for people to change if they want to...


also , why wanna be greedy and go chase for extra dividend interest or something that might happen or not happen. Don't reinvent the wheel when something is not broken. It's always the greed of people that farks us up in the end....

KWSP-i-Akuan is fake app...

KWSP-i-Akaun is the legit one...

Wotzzz....

Mandatory EPF contribution for non citizen???

https://www.thestar.com.my/news/nation/2024...citizen-workers

When you practice delayed gratification.. you should be able to hit your target financial value...

Also tapping on EPF (for your future retirement) to get things you want now is a big No NO.... If you can't get the things you want based on any of your income or liquid cash without touching EPF... that means the item/asset you wanna buy is not meant for you... that simple...

I started off working with a celery of 1.8k.. haven't touch muh epf...

just climb up ladder... work hard... save... and only have muh 1st car in mid 30s... now i'm using using my 2nd car... fully paid and hand no intention of changing anytime soon...

had a house but sold off... as it doesn't serve my need right now...

Once i'm nearing retiring age, I would have a much better sense where I would spend most of my life in, where our Gomen would be ( favours the rakyat or we becoming a tax slave), and where my ideal dream life would be. Based on that I would get a property... or a place then..

I'm on track to have 5mil... just slightly out of retirement age.. But it's ok..
one can never aim accurately... shit always will happen... but if you have a plan... try your best to stay the course... you will need a strong will and strong mind and patience...

once you hit 5mil and if you can life off other source of income and not needing to live off this income...

that would mean having 1mil to spend on anything every 4 years...

everyone have their own magic retirement number, it's based on their lifestyle... Some 30s - 40s might still like to 'indulge' more than those who are more settled down.. hence their number might be higher somewhat?.. but as they matured down.. they would eventually know what the need and what they dont really need...

For me i just want to "maintain" my current lifestyle... hence that amount as minimum suffice.. I've talked to proper financial people and some CFOs..and most of them also would come to around that 5mil number if you're in KL.

some might settle in for lesser than that... 2-3mil... if they are planning to cut down their livestyle.. But I'm not planning to do that.. I want to live my life.. I dont want to "trying to survive" the rest of my years...

When I retire, i dont plan to work at all for money... i would focus on living my life... travelling... doing the things i like...
I dont believe in retiring and still needed to work for some spare change or pocket money etc..

People say when retire, nothing to do very boring... why not do work?.... ( includes my parents saying that to me btw...)
My question to them is why need to work?.. why not see the world or travel around or do something that you like when bored?.
If that particular job or work is your passion and you like what you're doing.. then good... by all means go for it...
If you really DIG DEEP DOWN, to the reason behind this... is actually... the feeling of insecure!... knowing that the income stream might stop... knowing that they are not covered by their company's insurance... knowing that from this point onwards is solely living off their own income... and the unknown costs of medical...

As for me, spending a good 1st half of your life on Studying + working is already enough for me.
If all goes well I would want to spend the 2nd half of my remaining life exploring and living it!.... and come to my last breath, i can say to myself i have no regrets in this world... done the things i've wanted to try... went to the place i've wanted to go... tried something that I've always wanted to. I've also seen closed ones in the rat race... accumulating loads of wealth but not able to see or taste the fruits of their labour from sudden illness.. this has really woken me up..

We only live once... I plan to make it count... I've made alot of sacrifices for my work away from family and friends and loved ones...

In the End - everyone deserves a chance to be happy...


p/s : Of course EPF is not only my source of retirement fund la that time... there would be other sources... but EPF as my last lifeline of 5mil would be sufficient in Worst case scenario...

why cant deposit into bank Acc.. then use online to transfer from bank acc to epf?

saves the hassle of filing up forms...

not really... if your money is already in the bank...

bank in money can be done mostly outside office hours via those machines.

filling up forms you most probably do it during office hours and queue...

i rather bank money into atm machine and then transfer to epf anytime from comfort of my home... no forms needed...

Oredi say.... retirement is a luxury many would not be able to afford in future...

give it another 5-10 years... you think they won't revise this number... i'm very sure they will...

240K has been there for sometime... even they have been checks to see whether it was still relevant...

now i'm pretty sure this number will keep changing pretty often...

and come to a more realistic number of 1mil...

https://www.thestar.com.my/news/nation/2022...-for-retirement

I guess... we would be seeing RM50 Charp farn in our lifetime...


I think those nasi kandar... SuuuuRRRRrrrrrr... would need to be RM500 per plate soon.. if they wanna be instagrammable...

All starting 2026

min excess withdrawal threshold raised 100K annually for 3 years..
by 2026 : Anything above 1.1mil can take out
by 2027 : Anything above 1.2mil can take out...
by 2028 : Anything above 1.3mil can take out...

basic savings raised annualy for 3 years..
by 2026 : basic savings 240,000 + 50K = 290K
by 2027 : basic savings 290,000 + 50K = 340K
by 2028 : basic savings 340,000 + 50K = 390K

This post has been edited by soul78: Dec 12 2024, 08:24 PM