It is power from saving over time. Then again many run business and wont park money in epf, as it can trace back their income source.

At 5% dividend alone would net you 125k dividend, in turn rm10k+ per mth. You can definitely retire now given no high vakue debts..

Totally envy. I am early 40s at similar pace and hope i can get there at 50 too.

This post has been edited by lock_82: Mar 8 2024, 08:23 AM

So destined to demolition unless we migrate?

Key is only 10% of new contribution goes to Act 3 while ASM you can withdraw 100% when you need it.

Also, you can only dump max 100k per year into EPF

This post has been edited by lock_82: Jun 21 2024, 08:46 AM

More like waiting for right vacation package or promotion item for most.. haha

Same with my old company, employment longevity is depending on who you know more and plus what you know..

I am early 40s, and just want to say pretty much same feeling where hope no scxw up till I can retire at 55-60. Sure feels like long way to go and definitely feel tougher to get a secure job till then. is this what people called mid life crisis and it is scary.

I believe the EPF data isnt accurate to reflect the wealth distribution in country as we know we have tons of people dont pay tax..

Quote NST report:
It was reported that Malaysia only has slightly more than 1.3 million individual taxpayers out of a population of more than 33.5 million, representing a mere 4.0 per cent of the whole population.

Base case now one can withdraw 10%..

If one saving now is meant for major spending like house, oversea education assume exceeding 25% available then best to keep it elsewhere.

Else it maybe impossible to outrun shifting goalpost which by 2028 will be at 1.3M

Anyone tried i-saraan yet? I cant seem to find the option to confirm it is I-saraan contribution vs. normal top up.

Got it thru the bank. Thanks a lot.

Maybe one can be business owner under SSM, pay no salary but dividend hence they can make good use of this injtiative?

Neither of these groups needs such benefit.. but heck gomen.. sigh

well bulks of the really rich people, doesnt earn salary.. just dividend..

Honestly i felt cant contribute too; business owner who claim minimal revenue on yearly basis.. i know few getting B40 benefit while guarantee much richer than me. Parking money in epf creates paper trail..

well the really rich ones, have plenty of cash stack at home.. EPF is mostly for honest working employee who paid taxes and all.

while this maybe out of topic, as a parent with kids i found it hard to save money for their tertiary education. So question is, is it norm to depend on my own EPF for their teriary fund, which can be easily 200k+ per pax.

Thanks for the nice feedbacks. Personally, havent been able to save much money outside so have to utilize EPF to fund kids educations. Honestly, same with most comment if 100-200k in Msia should be acceptable. Not rich enough to sponsor anything more. It seems impossible to save 200k hard cash also.. life isnt easy. Local uni meaning kids have to waste time in STPM with low chance of getting what they want unless kid is really bright. Of course, for those are are super rich, 1M will be not an issue but cant afford to go there.

To be honest, I wasnt looking at EPF number until i was 40yr. Single breadwinner at home with kids, was tough in initial decade but learned to be thrifty as well. No fancy car or house, no expensive oversea vacation. Started to look at EPF because finding it difficult to save myr150-200k for kids tertiary education when time comes. Considered lucky one with decent job and pay but looking at this board makes me feel underpaid.. just venting

well, one has a choice to continue living like it was 30yrs ago. A lot things are just a distraction.