EPF withdrew till boh money liao...

Singkie CNA also now doing report on Malaysian kesian-ness....


TLDW

Total 4 withdrawals during PN time....

Muhiddin now urge the current gov for 1 more withdrawal.....

Anwar says... withdraw apa LJ??? 51% under 55 don't even have more than RM10k liao...

EPF says only 4% can afford to retire... by afford to retire... it would be at least RM240k by age 55... to retire comfortably... it would be at least RM600k in major cities...



Seriously mang.... don't talk about ketards "RM1mil retire not enough to survive" remarks.... quite a number of people at age 55 now don't even have RM10k...... with inflation.... how long can a person last with RM10k savings???

S

240k to retire? can last how many year? panjang umur like atok can eat grass

that's why euthanize should be legalize, spent enough then self suicide.

owai

and yet many tukar kerata macam tukar baju
some die2 must dispose car before warranty habis

This post has been edited by zerorating: Mar 14 2024, 02:00 AM

no need to worry about it NOW

u will be restless now and later aka twice

u might die half way

then waste the effort of worrying jer

retirement is a western idea.
all asian countries work till their 90s.

govt must increase brim

Can work in fast food restaurant or petrol station like in Sg

Epf should all in buttcoin

SELOW. Now can KOLOS.

Now news is sst mali semua naik. Gaji 20k also like b40 liao

Work to the grave.

Duit semakin kecik jadi daun pisang

If 20k = b40... then 99.9% Malaysians are B40 liao...

Only the 0.1% ... directors... rich shareholders... business people.... could survive

guess ayam not eastern enough, ayam zero intention to work till full retirement age.

By that time, got money but got no health, even without illness, one cannot escape from aging effect.

Retirement is just a myth for the vast population that the reward you get old is to enjoy life. In real life, it rarely happens.

YOLO jer la

-nearlee

Cannot afford to retire. Have to work for life.

Good for boss-boss no need worry no workers

Unker plan to continue sell on Shopee from my parent home until I die.

My monthly commitment very very low. Stay with parents, have 3 meals at home. If one day can find rm100 I happy already.

YOLO.

Malaysians: I not worried. I am going to heaven ....i think.

Only 3mill+ members so called T20 with rm280k only

Cannot simply allow euthanasia. I sappork only of person is terminally I'll and or in lots of pain that will endure prolong suffering. Call it MERCY.

What is your monthly commtment?

lol no way u can retire with 600k nowadays

Kpg can tanam vege Bela ayam. Plant jagong to feed jiken n jiken feed you. Jagong no need baja one. Rambutan mango all no need baja. Fruit season can eat n sell also.

This post has been edited by g5sim: Mar 14 2024, 09:57 AM

Insurance, meals, bills, petrol, car maintenance, etc
I try to keep it low within rm2k-rm3k.
Cukur no big commitments and b40 waifu working got own income.

My place Mango need baja. No baja mango refuse to grow new leaf and fruit. Maybe my place soil and weather problem. Across the street same Mango tree totally no fruit even with baja

Aiyo kesian.

Here people call male tree. Faster terbang n plant new one lololol

Euthanasia enpower ppl to have more control in their life. Retirement planning is difficult due to unpredictable life expectancy. Euthanasia enable ppl to remove that uncertainty to a certain degree and max out their utilisation of wealth before gg.

900k with 3.5% inflation can makan till you 90yrs old. If expenses is 3k and average 6.1% div.

That still left you 400k incase you cannot die at 90 or some T20 funeral cost.

What makes u think 900k is within reach of most Msian? 6.1% div get from where?

I need advice on my buah Nona(apple custard) plant. Been planting on the ground for years and sprouted to a few plants now. But cannot bear fruits. Why? I feeds them with my kitchen waste and water daily. The plants seems to grow well but somehow cannot bear any fruits so far. It has been like 10 years already…

Malaysia sorrow is Sinkiland joy....
Those migrated also same, see Msia suffers they happy.
Hence pepatah..
Tengok org senang hati, sendiri susah hati,
Tengok org susah hati, sendiri senang hati....

If you cannot reach 900k, lower down your expenses. Get your butt out and work.

You can get 6.1% from maybank. And even much more in another market. Learn and work harder to find. Not difficult.

What are your monthly expenses and expecting life?

I like this idea

Kind of risky to put everything into one type of investment. Even riskier to put everything into one counter, kan?

Yes. Better invest in a good quality hand trolley now, you WILL need it later on in life.

From EPF statistic, most will never get 900k even if they work till recommended retirement age.

It's not about work harder, bottom level kuli worked hard, just not getting paid as much as equivalent kuli in more advanced country. That's just the economy reality of this country.

Most low level white collar also not getting high pay, and with the advancement of AI, many white collar job will soon be displaced.

Unker don't have 900k sitting around.

That's why unker plan to comtinue sell on shopee until the day I die lo

Patut la! That tree been there for like 10 years jor.

Just few months ago my mom went and terbang it because it's such an eye sore. Big, strong and tall but bear no fruit at all for 10 years.

10k saving? maybe around 1 month+ for my current lifestyle, 3 months if i live frugally

Hi unker.. u shoppee jual apa?

Maybank is already very reliable. Div % I get from pass 20yrs and estimate the future.

Of course you can mix with epf and m2u with ratio.

And if you are smarter, high yield and hold some share will even better.

Anything I can jual I jual. Currently got sell some stationery, some small home appliances, consumable.

If you want to think like B40, than just get your butt out and work.

Think smarter if you want to achieve.

EPF statistic is 1 whole lumsum. I don't believe what they write.

u don't hold any foreign investment to hedge against MYR devaluation? All those syok sendiri EPF 5% dividend actually doesn't mean much when currency devaluation and effective inflation alone already wipe out the investment "growth" over time.

This is the foreign investment.

"And if you are smarter, high yield and hold some share will even better."



I thought you believe in EPF?

This post has been edited by ozak: Mar 14 2024, 10:42 AM

I believe EPF is generally a decent forced retirement saving mechanism. But regrettably it has been hijacked by politicians hence EPF cannot give higher return than its potential.

This post has been edited by iGamer: Mar 14 2024, 10:47 AM

Ok now i know im in that 4% bracket

Why media/economist and other experts expects Malaysian will retired at 60 years old?

In other countries, especially in western countries, it's a normal thing for people age 60 years old and above still working as usual.

Heck even a lot of American still working until they reach 80 years old.

This post has been edited by xpole: Mar 14 2024, 10:58 AM

I don't believe you.

Your 3k expenses is already consider high.

You capable of doing business.



EPF here is not low. Average and even better then many country.

You dissapoint because EPF revenue high but payout low.

Take out some and invest. Don't waste the time.

Ever wonder why our government don't do shit about current obesity and obsession with potong kaki beverage and artery clogging food consumed by Malaysians? Because government secretly wants B40's to die early and not be a burden to KKM

Eh.. Got put baja bunga? Got flower before? Cannot ten years also no fruit.

Can you and the gov take away the Nasi Lemak?

If true ayam support. Too bad those overly obese ppl will still suck up huge public health care expenditure b4 they gg.

Bero, that's for one household of 4 pax.

gaya mesti ada.

Just extend retirement age from 60 to 65.

65 yrs old pun macam tak cukup. Retirement age should be 70 yrs old at today's rate

No other baja. Just my kitchen vege leftovers. My other papaya trees are all fed with the same kitchen leftovers and are growing well, fruiting with great papaya aroma and thick flesh.
Seriously, no flowering at all. My neighbours advise me to do some pruning , which I did but still cannot bear any fruits at all. Ideally, I do not want to use any artificial baja la. Any advice?

Aiyo then few more years mati edey....

Interesting. How do you get these at distributors prices or lower?

retire = get dementia

You can buy on Taobao, pay with your credit card and resell the items locally.

IMO, they should cut off subsidized public health care for age 60+

Useless old people who didnt buy insurance shouldnt leach young people's tax money.

This is what facing in Japan now, too many old people leaching young working group.

I see. Make sense. Thanks.
I was at Yiwu, China years ago. Most of taobao goods are available there, I suppose. Eye opener as they have so many buildings with different product themes. And the most recent goods are sold there though the quality is to be confirmed.
I was told that you can buy, and get a 3rd party to inspect and then a logistics partner to ship to you. A lot of international buyers there.

They pay tax also. Longer and more than the young.

This is controversial. It is likely that those who are 60+ have ben paying income tax. So there’s nothing wrong with them using subsidized services.
What can be done differently is to remove subsidies for smokers who has lung cancers since they knowingly accept the risk. Similarly for those obese people who do not take care for their health though this category is difficult to implement as obesity can be due to genes as well.
Just my thoughts.

unlikely much for those without insurance, if they cannot afford insurance, they are less likely to be big tax payer.

right now they are majority of the population to due population aging. How is it fair for the small amount of young population feeding the large group of old fossil? this is totally unsustainable. This model use to work When young population > old population last time. Not now.

This post has been edited by Boldnut: Mar 14 2024, 11:41 AM

Malaysian need to improve in educating youth people about the important of financial. Majority people who leave the school will buy expensive phone and car beyond their capability. As long as bank willing to borrow money then people will take longest tenure for the repayment. There are many people income less than RM 2500 and paying monthly instalment at RM 1500 for car, phone and other stuffs.

Beside this many people choose not to go to formal employment jobs and rather operate small biz without paying EPF. As usual most Malaysian aren't having the habit of saving, without EPF contribution it is very hard to survive when it comes to retire age.

Sometimes people criticise what is the 240k for after retirement, it is small money. But do you know that majority people dont even got 1/3 saving of this amout in age of 55. It is not a big money in 20 years later but still better than nothing.

I doubt so cos many of my friends are middle class and do not buy insurance cos they do not believe it and their company provides PA and free medical.

they picked their choice, they should live with it.

It is still unfair for future young population to feed large amount of aging population. You'll kill the young future under this setup.

Any responsible seniors who really cares about future generation should think about building future for next generation. Not holding on old policy that will kill next generation.

I don't think the 4 withdrawals have any major impact in ability to retire. If the withdrawals of (I forgot how much cumulatively, say RM40k?) makes you not able to retire, you are not able to retire anyway with or without the withdrawals.

Government should look at other factors, instead of just conveniently blaming the withdrawals, like salary is not keeping up with the living costs, brain drain, lagging in many opportunities, etc.

Kerja sampai mati ajala

Those 40k thru compound interest could become 106k in 20 years (5% annual growth).

If you look further than mere figures, those irresponsible withdrawal from the forced saving fund further deteriorate the good habit to save for future, it promotes the attitude to only focus on short term and ignore the future.

Well, this is your thoughts. I respect that but I have different thoughts about this. Peace!

I don’t agree that as a society, we should abandon the old folks for whatever reasons.

This post has been edited by fongsk26: Mar 14 2024, 12:31 PM

I think this is a seriously short sighted reasoning.

Potong kaki beverages cause high healthcare expenses as B40 visit gomen hospitals. If this is not a burden to KKM, I don't know what is.

PN formula- jangan bagi mereka ada wang , miskinkan rakyat- so mereka boleh sembah PN untuk dapat bag beras, dan tin milo cukup untuk berikan undi

kalau kocek rakyat tebal sangat duit- bukan saya beras dan milo, tak ada budget pulak

This post has been edited by Clement1001: Mar 14 2024, 01:10 PM

600k gives you RM2.5k per month for 20 years...

This some more exclude any interest that you will gain over the 20 years....


RM2.5k per month cannot survive for a single person???


You don't have house or car to pay already at that age....


Makan even with inflation.... at most also only RM30 per day.... considering lunch and dinner RM15 each some more....which is quite an upgrade from eating economy rice.... breakfast eat bread cukup la...


The rest of the money you can save up for hobbies and travelling...


Seriously... Ketards have a distorted view on life... thinking that after retirement... morning must eat at aircond kopitiam... lunch eat din tai fung... dinner eat hai di lao....


Earning power somemore ciput pula...

Retire? Better stack pillow and think properly..

BKT now RM28/pax

https://www.chinapress.com.my/20240313/%e8%...b0%b4%e9%b1%bc/

Fried egg now RM4.50/pcs

https://www.chinapress.com.my/20240314/%e4%...bb%b7%ef%bc%9f/

This. All the figures are talking about the figure depositors have NOW, meaning it's 40k post-compounding interest (for the ones soon to retire anyway).
The younger ones who joined the 40k withdrawals for stupid reasons may be dumb, but atleast they still have time to build it all back up.

From the calculator:
https://www.ppa.my/retirement-calculator/


Assuming 25 years old, income starting at RM1.5k, increment matching inflation at 3%. Your EPF would be atleast 480k by the time you retire.

Not saying the withdrawals didn't do anything to worsen the situation, but it's just a small part of the equation.

Fry your own eggs, one egg 50 sen je

600k with 5.5% div, can get you RM4000 per month for 20yrs.

You can do this entirely in EPF.

Since some people here says SG living expenses are cheaper, can go to SG for retirement.

Try tetak tetak Bit the tree. Not too deep ya. Petua org dulu. Also the put flowering baja. If cannot tebang n tanam baru.

Tetak the trunks? And the depth of tetak is like rubber tapping on skin deep? I try later.
I will try find some flowering baja as second option.
If still cannot… Sayang to tebang la. I will leave them there la…hahaha
Thanks v much.

2.5k.. petrol how much? electricity? bills? how bout medical bills? unexpected breakdown? SO u expect ur household / car / body dont need medical checkup and maintenance? dont be naive. 2.5k will be a struggle for sure.

Singapore food cheaper. Can get SGD4 per meal at Food court. But comparison is dollar to dollar.
Singapore no need car/motorcycle.
If you have kept SGD, have a property already to live in SG, then it is indeed cheaper in Singapore.
If no SGD and no property, now only convert MYR to SGD to go for cheaper living expenses, sure die. Conversion rate will make you pokai in Singapore also.

If have SGD and SG property, might as well convert to MYR and live like a king in Msia kampung. Just use bicycle.

240k interest only 13200/12 months = rm1100 per month how to survive?

After retire... how often do you use car??? You have to go here and there everyday??? The purpose is only to get you to nearby grocery and restaurant...

Electricity and water bill how much?? RM200+ should be able to cover right???

Medical bill... go public hospital??

Breakdown every month ke??? don't know DIY???


I didn't say RM600k is going to be super luxury for you to retire but you can at least ensure you have decent meal with enough money for household goods and some entertainment...


I shit you not... my ex-colleague with his wife mia average expenditure after retire is just RM1.5k.... before retire was a Head position in MNC financial firm....


His life was simple... breakfast just milo or nestum with biscuit..... Mixed rice for lunch RM7+ while wife makan roti or sometime noodles... varies from RM3 to RM8.... night cook simple meal... vege/egg/meat.... cost also likely less than RM20....

Daily do gardening... clean house... go meet up at the park with neighbours....

No more than RM30k per year for husband and wife... including other cost such as insurance etc...



Seriously... when you are old... you aren't going to spend like you are in your 30's.... but if you still want to eat good... dress good... have the best entertainment... obviously you would say RM600k is not enough for retirement but reality is... a lot and I'm not saying this based on gut feeling but literally EPF stats..... living with much less than RM600k and they also ok jer....

This post has been edited by holypredator: Mar 14 2024, 04:07 PM

best solution is start saving today.