why PRS ? it's quite risky if u are young.. No volatility.. withdrawal before retirement tax 8%

This post has been edited by woonsc: Nov 4 2014, 07:21 PM

Tax penalty for pre-retirement withdrawal is 8% not 15%

oh sorry.. messed up.. thx for the correction..

8% tax for withdrawal like David shared
+ U can only withdraw from Account B only, which holds 30% of your PRS

However, is this risky?
U sure no volatility? Crystal ball gazing?
U do know there are 3 "core types" of PRS per se right?
Growth or Aggressive PRS types not volatile? What are the underlying assets held by the PRS fund of Growth or Aggressive types?

This post has been edited by wongmunkeong: Nov 4 2014, 07:11 PM

Ironically speaking, PRS is feeder funds to the existing mutual funds under management of the particular PRS provider.

i mean it's like a fixed saving.. you wont be able to use it in times of emergency..
That's what my friends told me.. if u are still young..

I always advise my friends or juniors before really committing to PRS, make sure that the money contributed is not from the poll of money that you need in nearest future.

Apart from just chasing for the tax relief of RM 3k yearly, think properly before putting money into PRS.

This post has been edited by David83: Nov 4 2014, 07:33 PM

if he's looking at it as an investment, with ups & downs + holding for >=10-30 years+,
AND he has emergency funds built,
why would he worry about it "untouchable"?

heck, if his tax rate is 26%
AND he puts into PRS
THEN takes out from a/c B, he still makes 26%-8% = 18%

right or right?
It all DEPENDS.
There's no fixed answer AND are your friends millionaire(s) via saving & investing?
If not, might as well ask a sales consultant to analyze, design & develop a system
OR ask an IT analyst to sell fridges to Eskimos

This post has been edited by wongmunkeong: Nov 4 2014, 07:34 PM

okok i see.. thx!!
learned something

wong seafood~
thanks for the financial freedom excel. let me got a rough idea on my financial future...

you're welcome sir/ma'am.
pay it forward once you've learned, made, etc.

22 this year. found it abit too late to realize the truth of life with finance binding upon...

MYR hit 9-month low against USD.

JPY hit 7-year low against USD.

URL: http://www.nst.com.my/node/49439

This post has been edited by David83: Nov 4 2014, 08:23 PM

WTI crude oil tumbles as Saudi Arabia slashed price

URL: http://www.bloomberg.com/news/2014-11-04/w...een-rising.html

This is extra cash for me, which I purposely want to invest for more than 10 years... Also, tax deduction is one of the purpose.. one stone shoot 2 bird..
hopefully until the time when I retired, then only I need to take out this cash...

I already have reserved the emergency cash in the FD and some little cash to invest with unit trust..
This is what we called diversity, right? or this is not the right way to manage?

Actually i am not that young, already break 30..

PRS cannot be considered as investment.

If you want to group strictly, PRS acts like your EPF. It's part of your retirement planning.

yaya, you are right, that is one of my retirement planning...

dont know yet, now still focus on MY fund.

any fund would u suggest? just reloaded my bullets to CMF n waiting for the right time to switch boat

Good time for Americans to visit Malaysia and Japan

anyone got problem login to fsm? i tried to login at home, now at office also cannot. why ah?