Gonna go back to cave and come back again next year
Hopefully next year got 7%

problem is the definition of desperate ppl
some have huge saving in EPF like 100k to 500k and suddenly the become desparate maybe due to lost of income
or over borrow from bank and have huge monthly repayment and commitment
very hard to define
i hope i qualify and if the interest is like 2% then i going all out to borrow

100k in EPF can borrow 100k out with 2% interest
just put the 100k to FD with 4% earn 2% additional
use bank money to earn bank interest wahahahaa

dreaming

How to loop holes la?

active vs inactive lo

I hope parliment approved using KWSP Account 1 & 2 as part of our collateral and then we borrow money from Bank. Maybe can use 50% as collateral... imagine if you have 300k then you borrow 150k from Bank A with interest like 3% PA

EPF will give you dividend estimated return of 5% per year so you indirectly earn 2%

even SSPN also this gov can cut do you think they will allow us rakyat to "game it and gain it"?

it is Rakyat and not Gov problem

bersatu manage to fight for SSPN tax relief so they going to fight for EFP special withdrawal!!

we cant do much,... let EPF go manage it... janji 2024 time when annouced dividend janji ada 6% kakaka

those who need it then they borrow lo...
those who dont need it then dont borrow
at least better than 1 off RM10k
now no need make noise, as long as your account 2 got money you can borrow up till RM50k
no need pay until u 50 years old
and u still get EFP dividend
borrow money put inside FD also can earn interest
50k inside EPF continue to have yearly of at least 5% interest
50k that you borrow you put inside FD earn another 4% interest
total 9% interest and you only need to pay back 4%
maybe PN will help us fight to waive interest or lower it until like 2% interest

u qualified u go apply RM1k test it...

btw recently our PM just said will increase self contribution to 100k per year!! I guess again benefit those T20 saja...
dont know how will this benefit M40 ppl... mmh

https://www.thevibes.com/articles/news/8998...-to-rm100000-pm

LOL... 40k self contribution!! epic!

btw if we masuk till our EPF 1 million then can treat EPF as FD lo...
syok syok can withdraw when needed

today i realize that housing loan can loan up to 70 years old but when epf full withdrawal 55 years old enough

i use to think that once i reach 55 i should just take out the money from my EPF to settle my housing loan

but then what am i left with, a fully paid house and no income maybe some FD saving from my KWSP full withdrawal provided is still have some left after fully settle my house...

**serious discussion - i am worried about my retirement - it looks bad!

almost hitting 50 in few years time
i am M40 with 2 kids still in secondary as old age baru kahwin
thank god i am not a B40 but still i start thinking about retirement as i will not be allow to work pass 55 as my company will not allow such practice

so the option i have on hand is to pay more installment now so when i really reach 55 and no longer can work then the amount comes down to something managable where i can use my EPF to just clear it off

yet have to think about kids education - most likely ptptn
then have to think how to manage my epf saving so enough till i am 70
dont plan to live pass 70 years old if it happen then have to really depend on my kids...

future is not bright but not completely doom...
not sure about other forumer who is almost reaching retirement - how is your future look like? EPF enough to provide you for the next 20 to 25 years

birth till finish study almost 22 some 23 some 25 baru enter workforce
work for 30 years then reach 55 years old, if some luck have good epf and some saving and investment

then from 55 onwards cannot work since is a blue collar job (keeping it generic)
then 55 onwards enjoy retirement which is not really an enjoyment but more of worrying for the next 20 years do i have enough to provide for myself and my wife

wife is a housewife... so if M40 best is to make sure 2 person also working then maybe this will change the fate

time has passed and no longer can turn back

accept it and let the future write itself like unkerpanjang said time will solved problem...

thank god i come here... now i realize i no need to take everything out from my EPF but use the dividend to pay for monthly installment, i think by the time of my retirement, my dividend if taken out should be able to cover about 80% or even 90% of my monthly installment and will only have a gap of 10% to 20%... if i continue to pay more monthly installment now and also with salary increment till i hit 60 then i should be able to even cover it 100% with dividend as my EPF will continue to grow

you guys are smart how come i never think about that..
this is the best advice ever.. dont need take EPF then dump everything in.. just use EPF dividend to cover it as my repayment is not super high

I think my goal now is:
1. work towards bringing down the housing loan amount by paying additional RM100 to RM200
2. ensure that when i can no longer work 55 / 60 then then my EPF dividend yearly should pay for my monthly installment assuming my monthly installment is 1.5k my EPF dividend should have at least 18k per year

with this 2 goals, i should be able to live comfortable till 75 or even 80....
if i am luckly my EPF dividend should be able to cover my mothly expenses...

good good!! now i see some light

i think i am lucky since i am M40 i dont even know how will B40 survive and i was once a B40 myself start from the lowest level in a factory. I guess 80% start from B40 and move to M40 and slowly move up to T20

anyway if anyone who is a B40 and nearing retirement, pls share your thoughts on using EPF to last till you die...

This is a very interesting thread from EPF dividend to how to navigate life using EPF

Just curious those who are on KWAP or pension model if let is just say their last drawn salary is 10k then when they retire how much monthly will they get and until when will they get? Really curious why not all on EPF which is a fair game vs KWAP where it is funded by Gov...

Adding extra every weekend if I have money in my spending pots... Instead of paying extra to housing loan as advice from some bro here...

Use phone...

not loan.. i top up my EPF instead of Loan
Loan continue to pay the same amount