Yep, I enjoy my work 

Will continue to put in US markets, I think if we zoom out to a longer runway, all these noises iron out.

My issue is actually some of my individual holdings has pumped up so much it's messing up my allocation %.

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...

I was thinking...

If one changed to shariah..

Your EPF distribution of $$$ upon death stays the same right?? For Non Muslim members??

Don't need to follow Islamic distribution rules right??

Wow, because of the words "to" and "until you reach age 75", then that means after age 75 no more dividend and "eat" into capital?

I think, just think a better term to use is "until you die".

600k or 2.5k per month is current numbers...

600k or 2.5 k per month in the next 10+ yrs would not hv the same purchasing power as of now.

The target keeps on progressing upwards yearly.

Btw, after 55, every 5 year bracket, the premium of the medical insurance plan increased by alot.
Hopefully, the budget of 2.5k had catered for it in advance

haha... epf and gov very smart... from 240K to now changed story need 600K... all in prep of some new narrative...

while on the other hand, one large majority segment insist on withdrawal from epf to buy iphones lar.. starbucks lar... etc...

Then would be about in B40 group.

"...the B40 group may need an estimated RM544,160 to retire with the same lifestyle for about 20 years while spending about RM2,267 per month".
( need to Plus the cost of medical insurance premium)

https://www.imoney.my/articles/how-much-doe...etire-per-month

somehow....
lets see... 600K rm implies 2.5K per month per pax is what the article is claiming to be needed.
so a old couple should have 5K per month right?

the problem is the bottom M40 median income per household is around 6K and that is for 4 pax. normalized to 2 person would mean 3K rm per couple.

So either the B40 all living very poorly, or our old couples are living very well...

You got no issue already...
You had already been maxing 100k every year into kwsp

hopefully when i reach 55 EPF don't come tell me now you need 1,200k to get 5k because inflation 2.5k not enuff

the thing is... the article's object is about retiree having a certain "basic" networth (600K rm) to allow him/her to live comfortably (with 2.5K pm spending power). But one of the many contention is what does comfortably mean?

i would say having such medical insurance should not be factored in.. in Malaysia's context, seeking treatment from GH is adequate. This is available to every citizen.

If one wants a higher class condition/package, then have to allocate even more funds. The basic nestegg should not factor this in.
Else some will claim they want to go to the alps to sky every winter and go to NZ for the summers and claim that's why everyone should set 4 million nestegg as the target.
yeah, I am aware of the medical premium dilemma... i used to comment about how unscrupulous insurance agents are whenever they say buy as expensive a plan as one can afford... but I no longer bother to comment anymore and let idiots (cos they refused to listen to me and some even retort back stupidly) get conned by these agents... they will wise up sooner or later, but it is usually quite late already by then. The other is life insurance... completely useless except for certain cases.

but EPF should not be where all the eggs are... right?

Yeah that's no doubt with dicipline one can reach RM600k

My point is, when reached that balance but by then thanks to inflation who knows EPF will say not enough to retire anymore :grin:

I did a quick one in Excel

Start with RM1.5k at 23yo

24% cont rate.. even after RM5k will drop to 23% I ignored

Annual 5% increment

Annual 5% EPF div

No withdrawal

Only by 60yo will pass RM1m mark

So unless he can ensure his salary will not stagnant at certain age otherwise not really that simple to hit RM1m, not to mention some years when economy downturn increment will be colder than water

Also must pray EPF dont GG and pay less than 5% in future

you all can try this calculator:

https://www.thecalculatorsite.com/finance/c...tcalculator.php

Sample calculation: 1mil at 45th year of working
https://www.thecalculatorsite.com/compound?...=1&c=1&di=3&wi=

I cincai tekan one la...

RM288 = RM1200 gaji x 24% contribution
annual increment 3%
EPF 5.5%

salary at year 45 = RM4405.80 ( $12,688.68 / 12 months / 24% )

so, kerja at 20 until 65 without stop given above scenario, but still can hit 1mil
- realistically speaking, we want to talk about 600k savings lah, so sendiri rujuk-rujuk
can cut short once reach 600k?
RM288 = RM1200 gaji x 24% contribution

Come to think of it if we look around, not only Malaysia has this problem

SG, high income right? Also most of the average citizens still relying on CPF and Govt housing

I am talking about majority, not some that can afford high end stuff and in Malaysia also there are such people so I am focusing on the larger group of people

In the end, like stats said, majority of the people out there the lifestyle is sustained by debt

This also explains why only small % owns more than RM2.2mil net worth

If without EPF initiative a lot will have hard time owning a house

since this is a epf thread, i want to ask

can epf div be considered as passive income?

we dump max rm100 k yearly and retire early eg at 50 yrs
probably some will have 3 mil by then

use the dividen generated as income to us?

but max i calcuated also can achieve rm1.2-1.3 mil

i dot have much...mostly epf

i lost rm300k in Genn..... last time

account 3 got money le... hand itchy now
how?

Till the day I die also it won't happen... Account 3 is just 10% of our total epf contribution... Assume salary 10k so 23% contribution meaning 2.3k per month so 10% of it go to account 3 meaning rm230 per month
How can 230 per month turn into 100k?
How many years needed?