@AznRicy
This has been taken from an old thread
which has been closed.
You gave your girlfriend excellent advice.

I have been telling my nephew, as well as those in the
Fixed Deposits forum, to do the same, but they can't
see very far and don't seem to realize how important our
EPF will be in old age.

Like your girlfriend, my nephew and those in the FD forum
listened to silly rumors from their friends :

" Government is cheating us. EPF very hard to take out. "

" My friend's father said very hard to take out EPF. They give
him all kinds of reasons. "

" Goverment is going bankrupt. They are using our EPF. "

" EPF is a ticking time bomb. "
Did your read the papers ?   70 PERCENT of those reaching 55
have less then $ 50,000 in their EPF.
EPF sounds alarm as most contributors have less than RM50,000 at 54.

http://www.themalaymailonline.com/malaysia...n-rm50000-at-54
There are over 4 million people hitting 55 and over in the
country now.

This means that at least 3 million have less than $ 50,000 in
their EPF.
Like this woman in my ex-office. She said her brother, single,
an engineer, is now in his 60s with just $ 15,000 in his EPF.
If you are married, your children may not bother about you in
old age. Like my aunt in her 80s -  I had to use my EPF to take
her see the doctor at the hospital just two months ago.
EPF is FORCED savings.
EPF is the only GUARANTEED support you will have in old age.
Nobody else is going to take care of you.

If you put everything in an FD, chances are you'll spent most
of it away by 55.
I told my nephew, either :

Direct his employer to deduct extra, say $ 500, to his EPF
every month, and/or :

Pump in yourself, as and when you can, up to the $ 60,000
limit EPF allows per year.
EPF interest has remained relatively stable between 4.25 and
8.50 percent for the last 50 years.

Take an average of 6.375 percent.

If you have the money, put in $ 10,000 in the EPF for a start,
rather than any of the fixed deposits.

Then fill in the required EPF form to direct your employer to
deduct an extra $ 500 from your salary every month.

If you are 30 now, you'll have over $ 400,000 by 55.

http://www.calculator.net/interest-calcula...it=0&x=106&y=13
Compounding interest separates the rich from the broke. The great Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.”
http://www.thepennieswesaved.com/compound-...-eighth-wonder/
https://www.youtube.com/watch?v=LK7iadUBPWw/

https://m.youtube.com/watch?v=LK7iadUBPWw

Who created stories?

That's the problem with advising local kids will little IQ on
a "kopitiam" forum.
If your dinosaur brain think these are all "fables",
then ignore my advice AT YOUR OWN PERIL.
You will realize what a complete fool you have been,
when you are in your 60s, alone, the rest of your family members
all passed away, with no savings and maybe $ 500 left in EPF.
Tell me, who is going to help you then ?

Your generous, caring, Malaysian Welfare Department  ?
You can talk, shout, plea, cry till the end of time.

Nobody will come to help you.

SILLY CHILDISH TROLL.

MODERATORS, BAN THIS FIVE-YEAR OLD IDIOT IMMEDIATELY.