+1 . me also think & do the same.

Hopefully we all live long enough to see the money

Just quickly exceeds RM 1mil, you can touch the money earlier; no need to wait for retirement age.

M40 or T20 folks maybe can reach 1mil by the retirement age. Not us B40 !

B40 can get BPN.
I don't even qualified for it and I'm not in T20 also!

This post has been edited by GrumpyNooby: Apr 16 2020, 09:48 PM

haha hopefully. I just replied in another thread that has something to do with this. Basically I do save but not every single sen of my income and to the extent of counting every money I spend on everything. This is not an advice, this is just me haha. I do have my savings but I do spend on things that I like. Coz I don't know for sure if I will even get to 65 year old . But if I don't save and do get to that age, I'm screwed. So I enjoy life, and still spend my money on what I want (not need) but within my means and still save for retirement. A balance life. But some people do enjoy saving every single sen. To each his own. Sorry off topic.

I strongly agree. What is the point of having so much money if you don't know how to utilize/enjoy them? Money is pointless and meaningless unless you make full use of it and make something meaningful out of it! But sure, I suppose some people will just feel happy and content and safe when they look at the numbers

I also subscribe to this thinking. That's why I'm willing to spend some money to travel etc. I know some people will say "oh we want to save up money so when we retire we can travel around the world".
But personally I feel that:
1. travel is exhausting. How much can you travel can you spend or cram within one period? Do you plan to travel or take vacation every month when you retire?
2. Age. Like I said, travel can be exhausting - all the walking around, sight-seeing and navigating in unfamiliar environments. Even now I can feel my stamina is not what it was when I was in my early 20s. I probably wouldn't have that much stamina to do long travels when I'm much older.

Of course when I travel I try to keep a decent budget and not do shopping or fashion holidays. I also try to save for retirement but I see life as a journey, and we shouldn't focus so much on that end goal of "golden age of retirement' to enjoy life. But like you said, some people think differently and their priority is focused on achieving their target at the end.

there are many places to use the EPF account 2 though. Housing, education, children's education. it should be also your goal to stay as healthy as possible to touch the funds.

not unexpected lah. more bad news to come soon.

that's why get your bullet ready.....

just did a very simple and brief calculation, assuming no increase in celery and 4% p.a. div for EPF, still need 11 years to get RM1 mil.

M40 cannot hit 1 million.

Bad news sometime is good news for investor.


Wah your salary is big, just 11 years can hit a million.

agreed. But also do consider some important facts of life too.

one won't die from not traveling or splurge on luxurious stuff, but one may die if there isn't enough money for basic necessities, even medical bills can kill a person. so i think many people are worried about their old age, whether they will have enough funds to weather through the storms. just like my parents, they wouldn't want to trouble me as much as they can, so they try to live a simpler lifestyle, with much lesser travelling and etc too.

i'd say, these are mostly the thinking of the older generation, but for me, i think i will also want to travel as much places as possible when I can still walk healthily, money i earn cannot go with me to heaven/hell. so enjoy responsibly!

i've been working for 10 years now already, started very slow, now pick up a bit.
so another 11-12 years, i am already in my mid 40s.
and the target is still very far away. touch wood, dunno if can see it through or not also.

Assuming you have RM 200 000 on hand.
11 Years, 5% Interest Rates
You need to put into EPF annually 48,000 which equates to 4000 a month.
12% contribution rate from Boss, 11% yourself (RM 1913).
You need to be earning RM 17391.30

Yah, you need at least 18k - 20k salary to hit a million for another 11 years.

good try, but still off. wish to make 17k too. hahahahhahaha

back to SAMY topic lah.

market has been going down, but my 36% port is inching close to break even..
Thank God

just checked, now mine fully breakeven already.
but i invested since september last year, been more than half a year already.
keep calm and continue DCA-ing.