One alternative is that if you are staying at the fully paid house and the house is freehold or leasehold of at least 90 years left, you can apply for a reverse mortgage loan with Cagamas. You will get monthly payments until u die.

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

What was your old username?

the biggest issue getting old is medical... can wipe out all your retirement savings

trying to play around with the financial calculator.
in 18 years time i will reach 60 and my EPF saving estimated to have RM3million. if no other extra source of income (no shares, no rental income), it is sufficient to live comfortably?....

Unker wrong century already TV shows is so 90s

These days propaganda is through social media and smartphones which is propagated worldwide within minutes unlike TV which takes time to disseminate worldwide

Whether it is personal level or macro level, it only make sense for you to make your own chair if the time and effort spent making your own chair is less than what you can earn using the same time and effort. If you can earn more, then buying a chair make sense because you get more benefits in total. Economy is on the right path when everyone specializes and end up producing more output then just everything DIY. If everyone only wants to do things pennywise and pound foolish, trying to save a little money but end up losing more potential income, then economy is not working as efficiently as it should. That's the idea of a good economy, whether it is to your personal finance, or to the country or the world as a whole.

That's why there is good spending and bad spending. People doing bad spending too often will end up having troubles in life. Unless one is about to die then since money is useless after death, then by all means one could try to exhaust the wealth before kicking the bucket. But too many people want to exhaust the wealth too early and yet do not want to suffer the consequence even though they do that out of their own free will.

Use phone...

I am not sure, but I don't think can. She can withdraw and put into her account which will be subject to self contribution limit. Or maybe can leave the money there and only withdraw as much as required. Better ask at EPF lah bro if worried before say bye bye.

Live Long and prosper bro!

Who say cannot. Can go to Prayer Shops to exchange RM with Hell Money. See which one has better exchange rates.....😂

Finally it is out

Now they are worried about potential defaults hence no one dared to insured this scheme 🤦‍♀️

Seems like this scheme this brainless thrown out idea without thinking further like defaults

Let’s see whether Danajamin will takeover now

Good luck now with these news as many will withdraw due to erosion of trust in EPF

They shouldn’t allowed this scheme to happens as it looks like now PMX is really out of ideas in dangling carrots 🤦‍♀️

Never even think through insured defaults, how to cover dividends while loaning out money and repayments

Those on who have a lot of savings in EPF beware that is just precursor because your savings are just bailing those potential defaulters 🤦‍♀️

Perhaps a better way is to evaluate each withdrawl on a case by case basis. Probably will be hard to regulate.
Value of a Car still depreciates although it can generate income. House can generate income but appreciates. Crypto is more of a headahe.