Yes. That is the main point of my discussions

1) it seems mathematically, majority of us can't afford to retire.

2) The problem with EPF recommendations is telling the people to save this and that amount of money, based on current ringgit value. It is wrong to tell 25 years old that you need target to save 476k in 30 years. EPF should take into account inflation to those numbers, when he/she hit the age.

I'm just tired of this push to blame EPF for someone not being able to retire, and how they are 'withholding' our money.

EPF is not responsible for our retirement, we are. EPF should not be your only source of retirement income, which is why financial literacy is important.

People have no issue when EPF force employers to contribute 12% of our salary each month, but somehow has issue when the condition of that is you can only withdraw it upon retirement.

Also, the maths checks out. If you earn like 3k at 24 and only have 2% increment until you retire at 60 with a salary of RM6k (which is not high), your EPF will be around RM1.36mil. Assuming 20 years left, that gives you an annual spend of around 5.6k a month. If you only earn RM6k when you are actively working, RM5.6k in retirement is not enough?

More bashing also no impact as long as he get more views 😆

next year, the threshold is 1.1 million...
2027 is 1.2 million
2028 is 1.3 million
2029... TBD by EPF in future date.

so, you have until Dec to decide if u want to keep 1.1 or take everything above 1.0 in Dec

i know some mentioned that EPF fixed the non-div on the full annual sum of the auto monthly withdrawal option, but best to double check if this is true...

else waste the div only...

meanwhile, folks in this thread ask how to auto transfer from Acc3 back to Acc 1. 

The RIA is supposed to be a guidance/study information but in order to 'lock' your EPF, it became a Framework. Would the Gov be able to support the framework by enforcing higher contributions from the employer, or would they declare a higher % to boost up our retirement sum, well no.

Some people wouldn't agree with the word lock because the argument is EPF is a retirement and not an investment. Or simply, their self contribution has been locked indefinitely till 55 (or >1.3m for now) a way to console themselves.

I genuinely don't think many people view EPF as a HYSA. And for those who do, liquidity and ability to retire should not be an issue, given if they have access money to pump into EPF as when they like, they could just stop doing that and put in KDI or some FD instead?

I can only find data that out of all the contributors in EPF, only 130k people have RM1mil or more while no indication of the person being active or inactive. Given they have like 16mil total members, this like 1-2%.

I don't plan to use up my capital in EPF by age of 60 also... If possible I still will only use the dividend money generated... So they want to lock to 60... I think still okay...

if you die by 55 then how? not worth it...
you need to learn how to use money dont be like me
my mentality and your mentality is the same and i dont know how to change
dont be like me no good

I would worry more about the MYR losing its value down the road.

personally, i just assume that ringgit will be weakening for the foreseeable future and do some diversifications out of ringgit denom assets.

Plus, there is always the risk of political shifts in Malaysia swinging toward the Green...

Work so hard, save so much, invest wisely so your kids can FIRE 😆

Thats very wrong bro.

You need to relearn the habit of spending by
planning accordingly. One way is to split your remaining years into buckets of 5 years. You probably then realize that you dont have that many buckets left, and much fewer healthy buckets.

In each bucket than you plan what you want to do and what to spend on. The big ticket things.

Looks like we have someone who is not just very pro Epf, but also pro Malaysia and pro Ringgit. Diversification can take a back seat.

Have to say this is refreshing. Good...

when young...  minimum epf...  max outside

when old...  maximum epf...  min outside

zero risk... 2.5% div guaranteed...  6.5% casa is hard to beat

happy to keep my $ in epf...

I don't really understand...
do you mean that you subscribe to the idea that all in into just 1 asset is the optimal solution for you? so since this is EPF's thread, so you mean all your wealth into just EPF?

isn't that a bit too aggressive a asset allocation?

I think actually EPF itself already diversified also. Hence if we put in EPF, kinda diversified as well already.

I don't care how diversified epf portfolio are. Since epf have been consistently been giving out abt at least 5.4 - 5.8%pa. I would just consider epf as a kind of fixed asset portion of my investment portfolio.
I am using my other money for other asset allocations in my portfolio.

And there I thought you were pro brain.

But telling everyone it is OK to throw everything into just one asset. One platform. One body. One entity.

Just chill and sit down and think about it. No matter how safe something is, it is never a good idea to put everything into just that one thing.

Edit: I just realised.
So in your opinion, future policy changes restricting withdrawal (risk of changes) is not a concern at all? And hence it is acceptable to just put all your funds in EPF?

I didn't realize you are so right. Lol.

It is always smart to throw everything into just one platform. So right.

Haha.

One feature Epf lack in is units inheritance unlike ASMx.