Learn to pay yourself first before anything else.

I have max my EPF contribution as an employee at 35%, then add in my own self-contribution.

I must say it's rather satisfying to see the money grows every year.

I wish I know it earlier but rather a little late than never.

Cheers to all.

Make RM1 million your goal for EPF saving

Depends on company. You will have to check with your company.

Self-contribution is RM60k a year.

[quote=Tham,Jan 3 2020, 04:15 AM]
That is a very wise decision.

At 35 percent contribution, as well as your own,
you should be a millionaire in no time at all.

[/quote]

Thanks, soon.

[quote=tehoice,Apr 28 2020, 10:51 AM]
Very commendable target

All the best


[/quote]

RM1 million is easily achievable and it is a very realistic target, I even think one should have RM2 mil when you hit 60.

[/quote]

Thank you.

Yes, an achievable target. Sorry, I forgot to add yes, do make RM1 million your EPF goal before you hit 40. Then just let it roll.

Without anymore contribution for the next 25 years, easily it becomes RM4 million when you turn 65. Imagine if you keep contributing. And together with other investments, your life is pretty much set well.

EPF - just take it as a saving game.

All the best to everyone!

I think you mean 'self contribution' vs 'i saraan/i suri'

You may put under self contribution. Your account will be updated with this top up in 2-3 working days. Never fails me.

But if you're self employed doing free lance, you can put in i saraan which government will also give you 15% additional, max m250 per yr to your account 1.

You can withdraw all account 2 amount which is around 1/3 of the savings when you turn 50, which to me sounds fair.

Then full when you reach 55, if you want.

I won't want my government allowing me to withdraw full amount too early. Even today, we hear news how elderly people do not have enough money to go through their retirement life.

We must admit we're not the best steward when it comes to finances.

And you're right. Don't put all your eggs in one basket, but if you're really bad in finance, EPF gives some decent good interest as comparred to UT which may turn your amount to negative and you'll need to pay some entrance or exit fee, or compared to FD which eats up your money and making your purchase power getting smaller.

This post has been edited by gashout: Aug 10 2020, 11:23 PM

3 more months to year end. I hope everyone has maxed out self contribution in rewarding your future self when you retire.

Happy Friday!

I'm looking at a 5% or so. But I've been more optimistic than how situations are. So it maybe slightly lower.


Agree, also stack up bullets ready for any once in a life time opportunities..but the overall motto is save save save save save during this tough times.

They say the same thing every year, we'll just need to be more aware of what's going on and grab opportunities when they come.

It'll still go through.

This I'm not sure. You can try put in and see if you get this year.

Both different things

If it's for emergency then FD.

If it's additional cash, then epf

Epf can still withdraw for special situation. I take it as a discipline to force save

if only you know majority of malaysians have less than rm10k, in their epf, then you wont be saying that

thats why i always say

if you are gonna take out your epf, means you dont have enough.

start reducing epf contribution if possible, then have another pot of money for small biz

don't mix up your different pots of money.

maybe make it your 2023 resolution to do something about it?

we are only 5 days into 2023, still have 360 days to make a difference