Many Malaysian talk about retiring with millions in the bank.

When ask about how much they can save a month, a lot says around RM2k to 5k, which is a respectable amount.

However, their so call saving doesn't factor in those large 1 off purchase like oversea trip per year or the latest gadget, which could easily eat up quite a portion of the savings.

Imagine you save RM5k every month and till year end you got RM60k saved for the year but in between you've spend RM20k on oversea trips and luxury purchases, how to hit the million ringgit retirement target then?

What oversea trip spend 20k?

Need to earn how much to be able to save 5k a month? After deduct EPF, Income Tax get 5k pun susah.

I'm for one never fork out own money going for overseas trip and no buy luxury purchase, B40 life is susah.

You used T10 earning and lifestyle applied to majority of Malaysian?

Easy to see those that could afford to save 2-5k per month for sure will spend about that much on luxuries.

You can't hit doesn't ppl same like u can't hit.

You rely only on salary doesn't mean ppl like u also, reply in salary.

You no investment doesn't means ppl also same like u no investment

You make that much money can save 5k per month. Your EPF easily 4m by the time u retire.

That 5k is considered "fun" money after all expenses paid.

Europe trip easily cost RM20k.

Even if you just go Japan or Korea, easily cost you RM5k per person unless you plan to cheap out like staying in the cheap hotels and eat at their convenient stores.

Also, if you plan to change flagship phone, easy another RM5k++

Clothes, bags, a lot of other stuff most people don't realise that they've spent on.

That exclude those with hobbies.

I think 5k is easy for single especially when you are older.

30's, 5k is quite easy.

40's, 10k would be easy

50's, 15k shouldn't be much of a problem cause you've already at your peak.


Would be much harder if you are talking about having a wife who doesn't work or earning very much less and you need to feed multiple mouths.

The luxurious kind of trip

I know some people when travel to Europe can easily reach that kind of spending

Don’t get u… alot of us here t20 making 20k abv at young age- epf 1 m before 40s also

I don’t see the problem ur raising- b40 dont compare shit with us t20

Donasi you 1 sentence. Money saved today for tomorrow’s value, how to convert today’s saved to tomorrow’s value?

Donasi you 1 word. Consistency

This post has been edited by jojolicia: Jun 8 2025, 12:54 AM

dude i go japan with my gf 2 weeks also need 26k ad

phuket maybe 2k enuf

This ts sure mata merah ppl save 2k to 5k. U sendiri can or not? Ppl own money they can do whatever they want. Blow meh?

That's why retirement fund is always retirement fund. Retirement fund is not oversea trip fund, not renovation fund, not furniture fund, and not emergency fund.

To alot of ppl, their so called “retirement fund” will be wiped out the moment they retire - by clearing off mortgage, their home.

I got a sohai collegues damn happy press press the epf retirement calculator, coz by estimate he would have 4-5k monthly when retire.

But fail to account for: have you cleared your house loan?
How about your transportation - takkan your shitty ass honda now gonna last 20years?
How about your budget for eletrical gadgets? Its a modern era, takkan you want to become caveman?
How about all the yearly services, maintenances and fees in your life?

Don’t even start to talk about healthcare, sohai really thinks gov hospitals can cover him for everything, mf not even a gov servent, no added benefits.

In the end, the realization hits him that clear houseloan at 60yo, and get a cheap car (80k car in the future 2 decades, hope got so cheap car la), and he’s practically cleared outta his retirement fund, and can only hope to die within 3-5years lol

Save vs investing is not the same

How to invest?

everything is resolve if you are calculating using SGD
the problem is MYR itself
...
Imagine you save SGD5k every month and till year end you got SGD17.14K saved for the year but in between you've spend SGD5.71k on oversea trips and luxury purchases, how to hit the million ringgit retirement target then?
...
This post has been edited by taitianhin: Jun 8 2025, 01:42 AM

By not keeping in the saving account as cash ? First it does not grow and secondly inflation will make u poorer.

Keeping it locked in investment like mutual fund, etf is much better

avatar baru tak cute

Lol

Compounding interest, helo?

Future millionaire club, you can start saving by self contribution.
https://forum.lowyat.net/topic/2705461
https://forum.lowyat.net/topic/4745820













https://forum.lowyat.net/index.php?showtopi...ost&p=111280166

Everyone has different plans for their retirement. As long as they are happy with it enough liao.

Not everyone need 20-50k annual trip to extravagant places. Yeah, they be like let's go.. once they went to a couple of them, meh, even near2 trip with a group of friends to enjoy foods and time together is also memorable. Gadgets? They are reaching stale point just like pc did a decade or two ago.

Travel = Out from a place you feel bore and spend all your hard earn saving. Then, restart again.

Serious, its stupid.......

When you feel like you need a refresh... why not.

But then travelling nowadays become like a trend... go but you aint really interested one... go because trend is that instafamous place.

That's the issue now with media social, when go holiday need posting and make sure goes to all instafamous location. Then only stays in trend n cool. Unlike this, I go places where our Malaysia currency higher than theirs, eg. Sri lanka, Nepal, Philippines .So I have better spending power.

One must have patience , that the tips i guess

I dunno lah. Unker saved as much at he could around 60% in his youth every paycheck, using budget CCP phones, buying the cheapest cpu at the time, only buy bata and padini during sale days crowd with everyone, only eat zap fan when koliks wented different place at lunch, drive same 20 yr old car and later mrt when built, never buy Starbucks, stay home on weekends, no vacations and you know what unker has to show for it decades later?

EPF not even rm100k, still can't afford own home. Nothing but lost hopes and dreams and regret. Now unker is old and bitter. Now unker just yolo. If died, last it be quick and painless.

So now unker say to just yolo. Unless earning high income, a typical comfortable retirement is unlikely these days.

Agreed. Similar to the so call flaw logic this trip cost is also not logic

I spent 11k going to 5 countries in Europe inclusive flight ticket for 1.5 weeks

For 9k extra id be able to add another 4 countries and extend my stay

But do I have the energy for that ? Hell no I am missing Malaysia badly on day 5

So this discussion is flawed

That’s why you have kids.

Guilt trip them into funding your 20k trips + gadgets.

Bro, u go UK and see lol. My family (4 of us) went this year total cost around 30K. Flight alone close to 12K (Emirates). And this for 2 weeks trip.

We muslim go umrah also high cost. Last year my family (4 of us) go need 36K. For two weeks also. Next time should be cheaper since we already knew how to go without following travel agency.

Sometimes you need to do what you want/dream while your health still permit it. Later sudah retired duit miliyun2 but you cannot move easily or have critical illness then no point also.

For me important is balance. Have some savings to retire early and comfortably while at the same time enjoying your hard work.

2 weeks trip to UK for 30k is cheap, really.

go haj also 200k per person...
so it's possible

Just spent 21k going to Japan for a week. Two adults two kids, with not much spent on luxury.

This post has been edited by red_satu: Jun 8 2025, 07:47 AM

where is part 4???

Personally I feel that if you travel with travel agencies, it is just a waste of funds. It is true you get to see all the touristy places but you are rushed that you do not have time to appreciate or enjoy the scenery etc.

I usually prefer to plan my travel in my own leisure and enjoy the slow life. Go to their wet markets or morning markets to see local people and their styles, go local medium or small size restaurants to enjoy their food, go and sit by a lake, river to just chill, or just stroll aimlessly. I know it is more costly but that’s what I enjoy.

If retirement fund then put in EPF lah. With limited withdrawal n if save extra 2k every month u can have a better retirement.
Say u start the below plan at 30yo with 3% yearly pay increment, after 30 years u will have extra 2.7 million, on top your employment epf. May be less since I exclude tax rate.



This post has been edited by MGM: Jun 8 2025, 08:16 AM

mao.. save.. just save...

but kturds mao travel pulak... save 20K but spend 40K travelling...

in the end... say 5mil unachievable.. even when saving 20K... topkekk

Wow! I cannot.

Here I am still debating with myself whether to go to spend 2D1N in Port Dickson next week with a hotel room rate of RM350 and y’all splashing out 26k overseas. This is my B40 life.

Passive income. U want to be rich u dont save , u invest

Passive income. U want to be rich u dont save , u invest

People maybe have allocation for travelling, park under one saving pot.

Tak kan you only eat and live essentials and no spending for rest of live, prepare for retirement only.

It should be the other way around, after retirement should be live on essential.

Alot of people don’t think will spend after retirement but in the end no chance … not to mention inflation, cost to travel or buy certain things went up significantly…

This post has been edited by p4n6: Jun 8 2025, 08:43 AM

According to wealth reports, only about 4% of adults in this country have over USD 100k net worth. Implied over 96% of opinion on investment and retirement is unworthy.

This post has been edited by icemanfx: Jun 8 2025, 10:10 AM

From young till old, consistent saving still epf less than 100k.
You work at McD whole life issit ? Withdraw epf issit? Saved all your money in savings account issit ?

A lavish one.

For example, purposely take flight to jepang just for the sake of makan kaisendon, or recently went to reyjavik with wife because she promised her fellow kepohchi betinas wanna take hot dip.

kosong hand pergi, whatever also buy there. Burn my pocket, burns!!!

A lot ppl spend 20k anywhere they go , if china different story most likely rm10k , even lavish spending also rm15k

Never heard these ppl spend below 8k

Hi kid, you’re meant to work till you are expired.

No such thing as retirement anymore araso.

Welcome to the world of capitalism

people save for their retirements with their compulsory EPF contributions

this

U got no bonus? If monthly can save rm5k, bonus should easily covered the trip

luckily i can save/invest around 8-10k a month by living below my means, excluding epf. Millions by the time i want to retire? yes.

This is why i always find it funny if someone claiming to be careful about money, skimping so much, use cheap cars and say ppl that buy expensive cars is sohai and then each year blow rm20-30k just like that ..

At least my expensive cars protect me from harsh road conditions, better occupant safety EVERYDAY and by the time my loan finish i still earn some back

But you are suffer your back and mental by buying cheap cars, dicing with your own live EVERYDAY and by the time you back from holiday you only have your memories and social media pictures to brag

U watching influenza soc med izzit, ppl who are m40 and can really save do not travel or buy anything not useful one, those who die die must buy fit ur description, they do not have a million in account, they have flex only

Car and travel are same for me, its more for bragging, u accidient cos u lousy driver nia
At least my expensive house keep me away from robbers and very comfy to live in, oh wai

You guys have saving?

if follow current trend, some 2-3% of those who have millions or hundreds of thousand in retirement will be scammed, so I assume those who travel overseas are the scammers?

joking aside, if current generation retire later in life, i highly hoping they are those who are very financially responsible, either because of all the knowledge today or inflation will catch up and 1 mil will only be like 100k

corgi so naughty

don't think too much, i also b40
and there are credit cards u know
always can do balance transfer or instalment

life of a b40, never ending credit card debt

i spent 35k for family of 5 to japan on march 2025 for about 12 days

Raises some valid issues but bit of holy predator logic here though

Imagine you save RM5k every month and till year end you got RM60k saved for the year but in between you've spend RM20k on oversea trips and luxury purchases, how to hit the million ringgit retirement target then?

To save up 5K it's more or less given said person is drawing a nice salary or paying himself one from his business

Year end bonus and or dividend should be able to cater for this one time luxury. Besides do ppl who have such a mindset of putting away substantial amount in savings really splurge year in year out.

This post has been edited by 9m2w: Jun 8 2025, 10:53 AM

Was complacent, too naive and influence by wrong advices, made wrong decision to decline sg offer, stayed too long in cinamang smes.

Now unker too late only know that there is no guarantee. EPF or not the only thing certain is that inflation + MYR will laosai long term.

Price for 1 pax?

This post has been edited by knwong: Jun 8 2025, 10:57 AM

If single by 40s and 50s maybe its fine to yolo abit. Keep so much for who ?

Please call the number for more info

You never go overseas?

Many ppl bipolar kan ? Mulut say safe safe safe, bebeird say travel 20k and buy hp hb. Dunno what to say liao.

You have not see when they buy new car that cannot afford. LoL.

Tats y if same income, u will end up retiring as a multi million air and the other guy only got 500k.


Tepok dada, tanya saiz bra.

Hardly need to spend more than 10k for family of 4.
Thanks to frequent flyer miles and hotel loyalty points. Saved a lot from there cos can redeem flights and hotel stay for free

Deleted

This post has been edited by jojolicia: Jun 8 2025, 11:41 AM

Pork porky chui

Jgn berkira dgn anak2, spend je, bump up the rates laa, nicer hotel kekeke

100% agreed. You sir should be the Finance Minister

my oversea trip spend near 70k

EPF 30-33% kan ada..if can save 2k-5k a month why wait until retire to travel

This post has been edited by gogocan: Jun 8 2025, 12:09 PM

That's why financial knowledge and discipline is important.

Go where?

Agenda depopulasi: by 2030 many /k will be a quiet place. Better spend your money now you may not even reach retirement age.

0 saving best yolo
Save for cock use

This post has been edited by GHBZDK: Jun 8 2025, 12:37 PM

well you can't travel that much when you are old...

wang berlambak also when in your 60s also give to doctors or got persuaded to buy things by all the direct sales people...

I suppose moderation is the key

work till death means no need retirement means no need any money in the bank...

simple solution....

Report dated 2000?

swiss last november
japan this month

As late as 2024.

Malaysian is poorer than most expected. Reality is often hard to accept.

EPF adi got 1mil
Kekwa

Biz class to eur for 2 pax already >RM 25k, hotel >rm1k/night, food >RM 4k/day, etc, already >RM 60k for 2 pax for one week exclude shopping.

At the end of your life,
You wont remember the EVERYDAY stuff but always cherish
memories of something you really aimed for, can be once a lifetime stuff eg wedding, mt everest base camp, expensive car, bike, watch..

Good and expensive car is EVERYDAY stuff

Port Dickson got what? 🤔

True also. You enjoy your daily ride.

For those who has no interest in automobiles, they have their own way of creating milestones in their lives such as visiting a famous location they have always wanted to go eg Safari

This post has been edited by dogbert_chew: Jun 8 2025, 02:45 PM