25% Malaysia totally spend off all their EPF saving $$ within 5 years after retirement  😲

https://weirdkaya.com/25-of-msians-found-to...within-5-years/

what I know is that for someone to claim ringgit been doing very well by cherry picking from all time low (weakest) to current level indicates some ulterior motive, or plainly to satisfy some narrative.

the more interesting question we all should have is what will ringgit move from 4.8xx to 4.2xx or lower will mean for our EPF performance this year...
did EPF manage to remit back the funds when usd was stronger earlier? 
any funds EPF left overseas, did those funds garner a greater return than the 10% ringgit appreciation this year?

like my case, I knew very well when i took out my epf to invest overseas, ringgit was weak.... but gosh, those investments already made more than 12 years worth of epf return compounded in ringgit terms... if ringgit didn't appreciate, it would have been even better. Is this plain good luck?
Now my headache is whether to continue the said investments or remit back to Malaysia... that's why I am open to rationales of why Malaysia/ringgit will continue to do better....
(problem is did anything change? or this is just USD weakening or global trade disruptions)

Different people different lifestyle & objectives

But if one were look around... The article does have some basis...

I remember one news... 700k EPF money just gone like that... Spending on unnecessary stuff including children lavishly wedding...

So aggressive  ? No need makan, buy house, buy car, buy iPhone 16 Pro Max  ?

technically the article didn't lie... in fact, it should have explained much better....



from EPF itself... Median savings of 60-64 is 8K rm... if every month spends 500rm, only can last 16 months... 5 years is too long...

it all depends on how one views the info...

the real question is why someone at age 64 only has 8K rm in EPF... could it be the said person has like 5 kids and each of the kids are giving him 1K to spend? 

Ahhh...

That's the correct term..

Many don't kena jackpot  or maybe none in their lifetime but will in their life get their EPF money windfall $$$... No matter what... Unless... GG before that. And next of kin get windfall instead 😔

And finally another group of people...
Use EPF money to invest those get rich scheme...
Greedy to increase the money double or triple what EPF given... But in the end.. lose everything to scammer

EPF has nomination for your money. If you gg, kid get, still the same. Important is to teach kid financial prudence, investment and scams. This is what i do now. Whenever see scam news, tell my kid, explain to him. Kasi brain wash kaw kaw. Also tell them never trust Unit trust. Investment must learn the hard way. No get rich quick scheme. I even try to help my nephew who is very bodoh financially, but he never take initiative. Fed up. I have tried.

While it IS important for all the above, there is a difference with i-saraan vs nomination, when you nominate, the kid will get the lump sum in cash (not in their EPF account) so it is not locked up till 55 years old. Which is a good thing for kids who have no other means of supporting themselves, and a good thing for kids who are financially prudent. But bad if they're vulnerable to scam and/or the type to spend durian runtuh fast. So have to make decision based on personality as well.

majority ppl reach 55 will withdraw all their EPF out, because they scare the government/ country will take their money...this weird logic always puzzled me, scare EPF scam them, but not scare bank scam them, as you withdraw EPF $$ and put in bank FD, and not scare those money game/forex game that promise you 10% return per month......mind blowing...

Yes, this is what I noticed also. Because even in Ponzi scheme, as long as still got new money coming in, the scheme can go on and most people from my parents generation have bad experience with EPF, so they rather withdraw and deposit in banks. Mainly on the service and convenience. But with the online facility getting better, I also teach them to just withdraw the money when they needed the money.

Perhaps related or relevant to what were discussed in early Sept?
Try posting that lead up to post 21077 as in image by poweredbydiscuz
Page 1054 for more details

I think the same concept applied to housing loans as well ... be it one lump sum or monthly installment to the housing loan, that whole chuck won't get any dividend.
Which is why a lump sum withdrawal makes more sense compared to monthly basis.

Seriously...
I cannot brain the reason why the needs of account 3...
When almost most times EPF complaining saying Malaysian cannot retired because lack of basic $$$ in EPF....

Actually speaking
It's both bring positive & negative to contributor

Positive - those enough $$$ in EPF, like 500k above... It's chance to invest in more high yield investment portfolio

Negative - those already low on EPF $$$, their balance become even worse... And like EPF said... Cannot retired comfortable... Even the the useless 240k basic
Majority like that lorh...
Hard not to touch EPF $$$

Good for you 😁
Sadly not many like that... And think EPF as CASA or ATM... Anytime can access the $$$ 😊

And finally YOLO lifestyle... Need latest iPhone, Honda car, branded clothes, foreign holidays etc.

If I am a freelance worker now and registered and contributed for I-Saraan but subsequently I found a full time job with regular epf contribution for my employer, then do I still get the I-Saraan incentive given by the government (capped at RM 500 per annum)?