Statistic or not, I'm illustrating a point that how much one can earn after 30 years on certain parameters...

First 100k always hardest for many

Ini sudah ber million kat epf....

This post has been edited by gamenoob: Sep 10 2024, 01:21 PM

I have a slight different approach from our Wedchar2912 bro...

Technically I can retire but I'm maxing out last 5 years of employability. Last decade of working career supposedly one peak earning capability.

I based my EPF return at 4% because not bothered with complex inflation % adjustments. Anything extra above 4% is great bonus to remain in principal. My other fluid saving is based at 2%. All these is catered for worst case scenario of inflation.

As long as I lived within the annual withdrawal limit from the 4% and 2%, I expect my principal to remain until 90 yrs old. Some reduction but will have at least half left.

When one retire, the lifestyle expenses will drop. You can only travel so much when you aged... likewise eating out also drop. You get sick of wagyu abalone too...rather medical expenses and insurance will increase. Worst case, go to government hospital.

Btw epf is guaranteed 2.5% above inflation rate... so far MY declared inflation at 2.5-3%, so epf return of 4.5% is very very possible to remain so.

This post has been edited by gamenoob: Sep 10 2024, 02:10 PM

Same la for me and missus. I just let the low % as future forecast for next 35 yrs. If it goes above 4/2%, I'm happy camper. With such conservative numbers, I no need to worry or monitor much what dividend they announce.... less heart breaks

As for food, since our kid out of country for studying, we struggled to finish food we used to ordered. 99% of time we brought with us ice pack and chilled bag. Tapao half home for next day meal. Electricity also less as no kid blasting AC.

Seafood outing is tough. We have to order much much smaller portion.

This post has been edited by gamenoob: Sep 10 2024, 04:29 PM

At 3% inflation, in 20yrs that 20k a month is 35k....which in many aspects may not be in real situations unless this person still consume at same level and quantum as he is 20 yrs younger...
.
Or at 15k, it will last 35yrs

Noted the correction on the words guaranteed...

Given the KPi, 4% dividends should be very likely to continue as rolling Inflation is approx 1.5-2%, albeit it is not guaranteed..so an effective 2% return would be safe for epf future forecast planning ...say 4% dividends with 2% as annual inflation... to estimate how long the retirement nest will last given a certain withdrawal rate...

This post has been edited by gamenoob: Sep 11 2024, 11:35 PM

Quite a lot of chinese communities on this ... believing all these governments cheat but actually kena conned by own children or relatives or friends...


It's easier to con a person than to convince them being cheated...

Touching EPF to settle house loan is not necessarily a bad thing if one able to reduce overall mortgage interest cost.

Most importantly once loan settles, all the extra cash freed from mortgage repayments is going back to some Investment or EPF self contribution later.

That given la if the BLR is much lower....

Dollar and number wise, you are right.

The feeling of no longer have mortgages or any loan is priceless especially when you see the land deed in your hand with no sekatan/hold… 😅

Use my freed mortgage payment into other investment that above EPF at that time.

Different folks different strokes

Last I checked, my epf still unwithdrawn even with acct 55 now. 😅

Doing house Reno is a bit of conundrum, its ROI is bad generally. But if its going to be one only place for the family to live many generations, I guess that is highly depending on each circumstances.

Am buying a toy car soon with reasonable down payment while I still classified by bank as loan worthy. Is it bad financial decision? Maybe to some but if one can afford it within the retirement planning budget, then it’s moot.

And doing more vacation recently while physically and bodily fit.

But still not touching EPF. Infact are shifting more into it.

The point is balance and what logical or feasible. While it’s YOLO but you also YODO.

Different folks different strokes… regardless the general population needs some level of financial education and literacy (not from investment perspective but rather financial prudence) to ensure they understand the delay gratification outcomes.

Whatever model one think can adopt or learn from CPF, they equally have challenges at their end. With the inbred of our local politics and social system over the decades, the self entitlement and privileged mindset have created that handout and looking at easy way out to help from government or anyone else instead of self help or perseverance.

Lastly don’t want the G to disturb the current EPF withdrawal mechanics. Just give me high dividends few % above whatever cooked up inflation rate, I’m happy camper.

I can spend at my will and decide what to be left behind when time come....

This post has been edited by gamenoob: Sep 30 2024, 02:05 PM

You are right on the auto expenditure. I factor it in as per my entire 35yrs plan albeit at reduction scale as it will be consolidated down to 1 car from 3 when I hit above 65. I also include maintenance insurance etc. eventually will downgrade to smaller and cheaper car as well. Ativa is a good option or even Honda City. Heck it will be a blessing if I can still drive at 70-80s.

Same goes misc budget to cater for those items you mentioned.

My plan tenure is 30-35 yrs. Well at least that how long I anticipate how much I have to cater for next 3-4 decades.

Thousand apologies. Guilty as charged.

Let me reset the chat…

Given the MYR rallying, what you think the dividend be like for 2024 performance?

This post has been edited by gamenoob: Sep 30 2024, 05:12 PM

Actually all these so called expert should counter and challenge the legitimacy of the forecasted stats which some seems to be basis for some spin....

On what basis 90% of below 30 members won't have 240k at 55...

Many discussions here shown that even earning 1800 per month from 30 to 55 at 5%, one will have close to 240k...

No such thing. You died, the funds will be withdraw and delivered to nominee bank acct.... not into nominee EPF.....

I thought the rules mentioned that once you kaput, it get processed to the nominee outside of EPF. It wont stay in EPF to earn dividends until 75.

If one alive and kicking, it will earned dividends until 100 yrs old.

Can the nominee choose to partially withdraw ?

If can, it's as good as high yield saving account.....

Likewise as per MUM pointed out on those scenario.

But the Reddit conversation also mention that the KWSP officer also advise the nominee to be caution on any rules change hence it’s somewhat grey area. Don’t get caught out. Best is able to withdraw out and pump back into own EPF if no utilization requires and partially to external FD just so to mitigate whatever risk.

Assuming they are taxing the EPF returns, there are no details on the mechanics either. So the pit depth is unknown for now.

But it will be interesting development as all these while EPF dividends are exempted from taxes.

This is really good... kill many birds with one stroke.

From individuals perspective, it almost like a trust to ensure your next gen have old day safety net, they won't be able to plunder it until 50 or at most certain percentage for housing and you can ensure the transfered funds will be able to accumulate dividends for your nominated beneficiary which currently have to withdraw out within 12 months...at least another option for estate management

And from government perspective, more funds remain in the epf pool...