I feel like i am back to 30+ years ago when so much rumours about EPF flying around.

Nothing wrong, after EPF discussed with gomen, then EPF makes the decision. It is quite normal in many organizations / companies, collect info and discuss, but only one will make the decision.

Same here. For someone who grew up in a restaurant environment, i had been hearing this for too many years. Parent took out all their EPF money 25 years ago when they reached 55 years old. That time, everyday they told me EPF had no more money, kosong already, like they (and those restaurant uncles/unties) knew top secrets.

Altho the current situation might be difference, I still have my own reasons to keep pumping into EPF. The biggest reason is i can afford to lose all the EPF money and still able to live good, so i have no fear (and really, i don't think i can lose all the EPF money. If this really happens, meaning the country is ruined). I am not afraid of RM depreciating also since my extra money is not only going to EPF.

This post has been edited by HolyCooler: Jul 9 2023, 03:34 AM

Thanks for the info.

Yup. That is their lifestyle.

My FB has over hundred of angmoh friends due to a certain hobby i have. And in real life i have some closed angmoh friends too included Serbia, Ukraine, Sweden, etc.

Their lifestyle really surprised me when i first get to know them. It is something like, today earned enough to go holidays, then will spend all the money on holidays, after no more money, back to work. Once earned enough again, go to enjoy again. Same for collecting collectibles, when they have money, they will buy it, when they need money, they will sell it with the mindset "i can buy it again when i have money next time", despite the collectible is very rare and hard to get again. Nothing wrong with such mindset, but really very difference from Asian especially Chinese people's mindset.

But i do have a few angmoh friends in real life who are planning for their future by saving more money. But majority angmoh i met are mostly with the mindset today got beer today drunk's type.

From what i observed and understood, they aren't expecting the government would do anything for them or have faith in the government system, but more like they didn't plan for retirement and thought they could continue this kind of life style till they are leaving the world, they have no planning to save money at all.

A few days ago, one of the angmoh up a post saying he didn't want to continue that kind of life style anymore (slave to materials, and always need to worry about not enough money to pay bill), and wanted to sell all of his collectibles.

Talking about faith with their countries, i saw my USA friends always complaint about the government, mostly the abuse of monthly money gave by the government to those un-employed people, these angmoh who work hard feeling very angry because they believe most of their tax money going to those drug addicts or those people who never want to work. I was also lurking in some western gaming forums, they are some USA people who publicly admitted they abused such system to get monthly money and no need to work, their PC hardwares are all bought with such money from the government. Have a Malaysia friend, one of his relative living in Australia, got over millions of money / assets, over 50-60 years old, but the relative still able to apply monthly dole money due to she is unemployed, kinda fucked up i would say.

About 18 years ago a Russian / Ukraine friend visited us, this guy was the type, when he needed a Mercedes, he would work like crazy to get the money to buy it, BUT, he only get the money to buy the whole car, but didn't prepare the money if any part of the car was broken. So when one of the tyres is broken, he will work again to get the money to buy a new tyre, sort of this kind of life style. Work, enjoy, work, enjoy, work.

I think missed out the word "communism"

I am wondering if any country in the world still implementing "communism" system? I know China and Russia altho being called communism but they aren't running communism system at all. If what you "joked" about become reality, our country may be is the first democracy country running communism system in the world

Just some extra info. My family has heart issue's records, my father's big bro passed away around 55, second bro passed away around 60. My father is now 80. Both of the 2 bros were still working before they passed away (first one i believed was over-worked due to his wife not allowed him to take rest / retire. The family was rich, but the wife wanted more). My grandparent passed away quite early also, i never saw him. I don't know about my case, so i wish to retire as earlier as possible to spend times / try on those things that i want to do before i regret. (i sometimes imagine if i suddenly pass away due to accident, what would i regret?)

-----------------------------

Heard some good news about EPF for first half of the year, hopefully next year we have good dividen

This post has been edited by HolyCooler: Aug 20 2023, 06:46 PM

I am saving more bullets now, but i am actually quite generous. In this 1-2 year i pinjam money to someone total around 35k, gifted some people total a few K, bought collectibles that worth more than rm50k, and i am making a money pool that will be around rm 100k for those staff that been following me for almost 20 years after i am retired (if they encounter financial issue, i will use the money in this pool to help them), etc.

I don't and won't have kids, so i will be spending most of my money before i leave this world, the rest of the money / properties will be passed to me and my wife's relatives / closed friends (if they are still alive and live longer than me).

can't be totally no body to give

Around mid of 40. Not suddenly, i am always like this since i was very young. Give you an example, when i was young, when i read newspaper and read news about a young and poor single mother had a few kids, one day only able to eat 1 time, i would shed tears and felt sad and hoped i could help. And when i saw my closer friends (mostly those friends that we had been gaming together for a long time) having financial issues, then i would help even they didn't ask. (but if i see they get the money and straight away go to buy cigarette, then sorry la, no next time). I am a "soft heart" person.

I am a free thinker. But when i "imagined" the situation, i imagined i was dead and became something not belong to the physical world anymore, but still able to think and see things happening in the physical world after i was gone, and with this form, i imagined what would i regret / haven't done. Can also treat it as, i am dying soon after hit by bullets, knowing i can't live any longer, and thinking what i regret / haven't done at that monent.

Tier dividen (rich get lesser, poor get more) for EPF is never a fair thing. I pay more efforts / time and save more money but get lesser return? How can that be fair? In working field, the ones who pay more efforts / time, get better reward, if you pay more efforts / time but get lesser or didn't get much, change your job, or find more "roads".

Tongkat is already bad, but more and more Malaysians are requesting communism system in Malaysia so they feel "fairer".

I fight real hard everyday to achieve today's wealth, those who keep feeling they are poor and no fair will never understand what i went thru. I ever worked 7 days week, woke up 8am and reached home after 12am daily, and also worked under extreme high pressure environment before, can they imagine i slept at 12am, and shocked woke up at 2-3am, and first thing came up in my mind was work related issues? And that 2 hours+ sleeping felt like never slept.

Implement tier dividen for EPF = a step closer to Communism.

it was around 20 years ago

Tongkat level 1 not qualified, only the chosen ones can have tongkat 1. May be tongkat level 2 is achievable.

I remember i deducted tax by putting my parent's info the in tax form, that year my parent told me they can't get the level 2 tongkat's free money, they said the staff told them "your son's salary is high, so you guys not qualified for the money". If your EPF has a lot of money, may be not qualified too if they want to be stricter.

Tbh, i saw a lot of Chinese youngsters day day cry father cry mother too.

Every time talking about EPF withdrawal, you will see FB has lots of these Chinese shouting it is their money, if they don't withdraw it now they might have no chance to get it due to they might not live so long. There is still people who tried to tell why they shouldn't take the money out, but this group of people who want to withdraw their EPF money is like 90% of them vs 10%.

And i lurking in some gaming communities, one thing i was surprised, actually many Chinese youngsters nowadays unable to understand English, when they buy games, they must buy Chinese version, else they won't be able to understand the dialogs, menu. I noticed this situation seems quite serious especially in JB area. I was shocked because i thought 20+ years after i graduated, our education system should had have improved a lot and most youngsters nowadays should be able to speak / understand English, but it turns out not the case.

You can penalize those friends also by reporting to LHDN to check on them

One of my relative was already a millionaire 30+ years ago, lived in a small town but was a well known person, he headache due to someone secretly reported him of not paying tax, reported a few times.


20+ years ago saw someone kena also, open restaurant with a few family borther sister, they ran away from tax or paid very less, kena reported by someone one day, LHDN penalized them tax for 10 years, heard it was over rm 100k, it was damn a lot 20+ years ago.

Btw, almost end of the year, hope we will get a good % dividen! Next year will be my last working year!

10k net a week is achievable for many foods sellers, they just keep silent only (My parent used to open restaurant and rented spaces for people to sell various foods). I know a indonesia woman who worked for a porridge stall, when her boss went to travelling, the boss let them handled the business, she told me each week can have 20k+ to rm30k+ cash from selling the porridge, and it was 10+ years ago (road side stall), can imagine how rich the boss was. (my parent told me those who sell foods, margin is 50% or more. Last time when chicken rice was rm 3, had people selling for rm1 to grab customers, my mom did a calculation and said still able to survive with that rm1 price). Now food price higher and money became smaller value, i guess it is even easier to hit 10k net profit for some stalls.


Will power part is real and damn important. I remember when i first went to China 10+ years ago, i told myself, China would be a rasuah heaven or criminal heavy forever because i think it was impossible to remove those powerful daiko / politicians who been doing those rasuah things for so long. I was shocked when i monitored the changes over the year. Last i went to China, my conclusion was their airport quality and service already surpassed Japan.

This post has been edited by HolyCooler: Nov 8 2023, 02:20 PM

Most hawkers i know looked down themself eventhough they earned a lot, even my parent also had the same thinking. They felt they had no knowledge, and wish their kids could have a better future by doing office jobs or become doc / lawyers, etc, they felt they would have more "face".

Hawkers / restaurant owners could have EPF too, my parent did have money in EPF, but due to all the fake news about gov already bankrupt, they had withdrew all the epf money out about 25 years ago.

https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%...IQAvzP1RdWox6CI

Most interviewees said M40/M20 need around rm 3.9mil only can retire "comfortably".

Personally i think the meaning of comfortably is difference for each person (age factor, life style, etc). Some can retire comfortably with 1mil, some 2mil, 3mil, etc.

This post has been edited by HolyCooler: Nov 9 2023, 04:19 PM

damn... i saw the word "中产阶级". Didn't realize they categorized those who have > 3mil - 9.4mil as middle class too.

Saw this from another thread :

EPF flexi account to be implemented in April

https://www.freemalaysiatoday.com/category/...ented-in-april/

So fast reaching the end of the year. Quite satisfied with my contribution this year.



For EPF dividen guessing, i would be happy with any amount >= 5.5%