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> 2 mil more than enough to retire

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New Klang
post Jun 14 2021, 04:13 PM

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I target my epf to be 2 million by 60.

I still need to work to earn for my kids university, my first conti car, my first Rolex, my first bitcoin
New Klang
post Jun 14 2021, 04:17 PM

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QUOTE(eddyooi @ Jun 14 2021, 04:15 PM)
after 60 a bit too old nia

try 50
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I am 50.

My epf is 1m.

New Klang
post Jun 14 2021, 04:30 PM

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QUOTE(eddyooi @ Jun 14 2021, 04:22 PM)
salary now must be rm17k rite?
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6k.

I started working from young and saved
New Klang
post Jun 14 2021, 04:45 PM

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QUOTE(prophetjul @ Jun 14 2021, 04:35 PM)
I am already there.  biggrin.gif

Without the Rolex.
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Congratulations

Buy the cheapest Rolex to humblebrag here
New Klang
post Jun 14 2021, 04:51 PM

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QUOTE(prophetjul @ Jun 14 2021, 04:49 PM)
No interest in Rolex.

Just want to travel and travel. But now....... cry.gif O
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You travel on luxury or thrifty budget?
New Klang
post Jun 14 2021, 05:10 PM

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QUOTE(ukauka2020 @ Jun 14 2021, 05:03 PM)
actually if we manage to save up 1 to 2m by 50s 60s. i think thats too late. in the process do we enjoy? or being really thrifty af. buy 1st conti when im 50? man, thats not the life i want.
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You can guess how long you live?


New Klang
post Jun 14 2021, 05:16 PM

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QUOTE(sjteh @ Jun 14 2021, 05:07 PM)
I wish too,
Hopefully can 1M48 (1M age 48)
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Don't withdraw for house / unit trust/ isinar?
New Klang
post Jun 14 2021, 05:39 PM

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QUOTE(Zenph @ Jun 14 2021, 05:31 PM)
3 Million holdings and I'm 25. Gunning for 10M when i'm 30 and I'll sao tong
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Penipu scammer
New Klang
post Jun 14 2021, 09:58 PM

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QUOTE(tikaram @ Jun 14 2021, 09:13 PM)
Now Buy la One of Your 3 list.

U deserve It ma. Work so HARD.
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I still got one project to start

Flipping one property
New Klang
post Jun 14 2021, 10:01 PM

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QUOTE(Lucas0323 @ Jun 14 2021, 09:56 PM)
If 2m with 1m generate 5% pa u can spend the other 1m for 10years with around 8.3k per month. After 10years your compounding 1m will become 1.6m and u withdrawal 200k that can last u another 4years with 4k per month and balance 1.4m compound again for 4 years. Naise.
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Yes, my intention to wait for epf 2m at 60 y.o.

Yearly dividend would be 100k. Spend 70 p.a. and let 30k roll.

Later when I die, the balance goes to my heirs
New Klang
post Jun 16 2021, 02:47 PM

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QUOTE(Garysydney @ Jun 16 2021, 08:29 AM)
I can always go back to Sydney if i don't like Msia as my PR will still be valid for at least 5 years. One property where i live in Sydney can buy three equivalent properties in KL  smile.gif . Cannot compare one of the most expensive cities with one of the cheapest in the world - lah  biggrin.gif .

In Sydney, we are encouraged to have at least A$1mil - A$1.9 mil (couple) in our nest egg for a 60 year old to have a reasonably comfortable retirement (this amount doesn't include the house we live in as well as your car if you need one). However even if you don't have this much, there is always the aged pension you can fall back on at age 67 (A$700/week for a couple). Medicare is always available which is free for PRs and citizens. Aussies have a very good welfare system for people who need it.

I like Msia very much - left KL after studying in Taylor's College (located bottom of Pantai Hill at the time) in 1979/1980 and only came back for a short while to apply for my PR in 1988/1989. I could not get a job that would pay me more than rm1,200/mth at that time in KL when i came back so decided to go back to Sydney once i got my PR. Sydney University has treated me well and gave me a job-for-life career and was extremely lucky to get a golden handshake just when i was about to retire  biggrin.gif . My golden handshake is probably more than what T20 Msians will accumulate in their epf (working a whole lifetime) so i was extremely grateful to my employer  biggrin.gif

I have only been out of hotel quarantine 11 days but i love life here (even with the lock down). I just hope i don't catch Covid but i am very careful when i need to go out  smile.gif
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Welcome home.

You should be at least 60 y.o.?

Stay healthy and safe to enjoy your long life

Keep moving to keep your joints in shape

Enjoy good and cheap living with your millions

 

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