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Category: ABCs of Personal Finance

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ABCs of Personal Finance

REIT News: Pavillion REIT buying a RM2.2 billion asset

“Do you want to own a mall without needing to buy the whole mall?” Yea, it’s possible if you are to invest into a real estate investment trust fund via the stock market. There are plenty of choices actually. Okay, it’s not like hundreds of choices but I think there’s enough for us to pick. Here’s the list of REITs and all the other necessary details to know before you invest into one. I think it is comprehensively explained at dividendmagic.com

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EPF

Personal Finance 101: How to calculate EPF money we have when we retire?

In order to benefit from this article, you need to be an EPF contributor first yeah. As for EPF, much has been said about the recent RM500 being deposited by the government to EPF contributors who have too little money in their account. Some said that EPF members should be allowed to do another round of withdrawal. Some say it is irresponsible to allow that because these savings are meant for retirement days. Well, the debate rages on but for all other contributors, did you know that you could estimate how much total EPF money we have when we retire?

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ABCs of Personal Finance

Personal Finance 101: PIDM protecting our savings

Perbadanan Insurans Deposit Malaysia (PIDM) is a Government agency established in 2005 under Akta Perbadanan Insurans Deposit Malaysia (Akta PIDM). How PIDM protects financial consumers? Briefly, do refer below. It protects financial consumers by protecting deposits and takaful and insurance benefits. Briefly, it meant that PIDM would honour the benefits entitled to us the financial consumers even if the provider of such a product happened to fall into some financial issue.

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EPF

EPF savings as collaterals for loans, no withdrawals

EPF is a form of retirement savings. In other words, it should just be used after retirement. Okay, I also agree that if should also be called upon in times of emergency. That’s why I am on the side of no blanket EPF withdrawal. Please be reminded that when people withdraw their funds suddenly, EPF would have to liquidate some of their investments quickly, whether or not they have profit or loss.

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Personal Finance 101: Anyone could lose their job. Everyone needs to be ready, especially financially.

I just read about Meta announcing a fresh wave of job cuts and the numbers being announced would be 10,000 over the next few months. I quickly checked and according to statista (click here for source) Meta has over 86,000 employees as at December 2022. When we use this as calculation, it meant that around 11-12 pct of the current employees would cease to be employees of Meta in a few months time.

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ABCs of Personal Finance

Personal Finance 101: Cost of living includes electricity too!

I usually sleep with my 8-year old son who says he will sleep on his own when we move to our new home maybe towards end of this year. One day he may not want me to be so close to him but since he needs me now, I better be close to him. Haha. He would love for the air-conditioner to be blowing the whole night. I usually switch it off after 2 hours. He could still sleep and I could also still sleep. I think I could afford the additional 6 hours but then again, ‘we will not die if we do not switch on the air-con the whole night.’

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EPF

EPF members with less funds than poverty level

When I started working, there was one particular month which due to an unforeseen circumstance, I had just RM20 and it was 5 days till salary day. I was already a working adult and thus did not want to ask my parents for money. Those 5 days were tough because I needed to go to office. I needed to go out for lunch which I did not and gave excuses to my colleagues and drank just the Milo provided in the office. For breakfast, it was Gardenia bread and for dinner it was the same. It was a feeling I would not wish for anyone at all.

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EPF

EPF payout totalled RM51.14 billion for 2022

This was a super big news before it was announced; so many media outlets were predicting the potential number. It was also hotly discussed after it was announced. Some say it’s low, some say it’s respectable. Some say it could have been better IF… Regardless, here’s that article on the details of the announcement by the EPF just a few days ago.

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ABCs of Personal Finance

Personal Finance 101: WORKING LONGER is compulsory for majority. Does it include you?

Here’s that news which should alarm many of us: 71pct of EPF contributors aged 55 and below do not have enough to rise above poverty level Briefly, this meant that for these 71 percent of EPF contributors, they will live under the poverty level for their savings versus the years they have to live with it. Malaysians are living longer yeah. Take this into account when we are talking about working past retirement.

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