One million in EPF is a good point to retire whatever age you're at. The 50-60k++ dividend is enough for you to live off at about RM5k or so of nett, tax free, spending money a month... especially if you have no commitments.
If you hit that at age 55, good. If you hit at age 45, great.

It's not a luxurious living but can retire and do what you really love and really get to live your life, your way. Not bad right?

1st time need to get approval physically at counter, subsequent no need, all online

Just have to factor in inflation as well

actually this part i still not sure why people keep on worry about inflation...20 years ago i already hear the same thing... say future 1mil maybe not worth that much....which is true...but if today i already have 1mil in epf...which can generate about RM4k to RM5k a month tax free...i'd say that's still a pretty damn decent life...
i'll take the smaller spending power anytime also...

App has been in maintenance since this morning....I think I can hear all the coins dropping into my account

1 million in EPF with no debt - very decent life. Probably can dine out every weekend won't feel pinch. Can go local holiday every 2-3 months. But no big ticket items such as car replacement. oversea holiday probably once in a year. May be affected by inflation, so need to keep track of spending. Need to really "think" a few times before purchasing iphone / laptop / holiday trip.

2 million , decent life + replace car every 7 years. oversea trip 2-3 times a year. Quite resistant to inflation.

3 million, technically a "rich" retiree. Can get iphone/ laptop/ etc without much hesitation.

p/s a banker who used to work for foreign bank told me that 5 million cash is the standard of very comfortable life after retirement.. She probably talking about 5 million in Fixed Deposits with return of 3-4% pa.



All the above only possible IF
1. you have health ( so please invest in health, get some swimming lessons, eat properly)
2. your children don't come back to bug you with their family/ divorce/ ah long/ debt / gambling problem

This post has been edited by Chrono-Trigger: Mar 5 2022, 12:40 PM

For majority of msians, can reach 500k consider good jor and a fully paid house.

This post has been edited by mini orchard: Mar 5 2022, 12:57 PM

whats the difference between i-Saraan and just do Self Contribution?

anyway total of both also cannot be more than 60k right?

I saraan for self employed but EPF gives back 15% max rm250 as incentive. I'm not sure if employed can still do i saraan. Also must register OTC at EPF for I saraan.

yeah i read that too but 250 doesnt seem like much incentive, and troublesome a bit like you said, must register and all. Why not just do self contribution...
Thats why I always wonder. If only i-Saraan can put 60k and self contribution another 60k

If you are debt free and have 1.5mil and above and some properties(paid off). It really doesn't matter for normal inflation. You old already can't eat much, wanna travel also kaki lembik.

Just live a moderate life and it would be ok.

But remember to plan for your medical protection or you can be screwed.

Cannot. Must be unemployed, retired, suri rumah, students etc. Janji not employed.

The RM250 just like gov angpow. Anyway, i believe it will ends in another 1 or 2 years unless they extend it.

Just dump into Self Contribution.

how true

Good write up!

Yes, i agreed, RM5 mil is the gold standard of a very comfortable life. Basically USD1 mil.

Frankly i think RM1mil is quite risky. A networth of RM2-3 mil with stocks, EPFs, properties (to generate income), cash is quite safe with a portfolio balanced towards liquidity.

This post has been edited by c64: Mar 6 2022, 10:34 AM

Hits the spot for me. I really don't care about expensive cars or Bungalows. I am trying to pratice minimalism. The less objects i have, the happier i am. I keep on getting rid of stuff by selling or giving them away.

The ability to do whatever you want and Financially Free=Fucking priceless.

Doesn't matter if i sits here watch grass grow all day, as long as i enjoys it.

Yes, 1 million is OK but have very little room for maneuver . For example need to repair home once in 10-15 years, unexpected expenses (medical bill , some items may not be covered, cataract surgery lense, etc). Fixing an aging car all need money or give money to parents/ siblings relatives that need emergency money..


This post has been edited by Chrono-Trigger: Mar 6 2022, 01:18 PM

DISOWN ALL YOUR RELATIVES!! PROFIT!

Sorry for ignorance.
No offence meant. No prejudice.

Does gomen deduct from standard EPF to boost Shariah EPF ?
Does EPF slowly change to Shariah based by policies and institution means.

Is it some myth or facts ?

This post has been edited by guest16888: Mar 6 2022, 05:10 PM

The drop dead amount was USD 2 million.

From urban dictionary...

"The term comes from a character in the James Clavell novel, “Taipan”. A character in that novel, a lady executive has the objective to have “drop dead money”. The “drop dead money” is that amount of money that she calculates she needs so that she would have the freedom and the luxury to tell anyone to “drop dead” without worrying about her financial security.

Actually, it was in another novel I read, Noble House, published in the 80s. The lady executive was

Casey Tcholok – Kamalian Ciranoush (K.C.) Tcholok, vice-President of Par-Con Industries.

At that time, in the 80s, the drop dead money was about M$2 million. Now RM 6 million.

This post has been edited by ScooterBoi: Mar 6 2022, 05:12 PM

I don't buy this. It's too simplicistic. Unker can already ask anyone to drop dead.