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Category: Personal Finance
ABCs of Personal Finance

Beware! EPF savings is really not a lot when we do these calculations

When someone retires and realized they have hundreds of thousands in their EPF which is suddenly theirs to use, what do you think could happen? Well, they could spend it wisely and stretch it sufficiently to cover for the next 15-20 years of their retirement life. Or they could spend it very quickly to buy things which they could not afford previously. Or maybe they could be scammed by someone and lose it all too.

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ABCs of Personal Finance

58 years old used up all EPF savings in 3 years

Maybe this is also because I do not own the latest handphone model… I do not try to show off with a non-national car brand which is suffocating me financially every month… After 30 years of paying for a property, I no longer needed to pay rental… plus I have more than 1 property and I could sell that extra property for funds which I could use for anything of my heart’s desire? This is why I do believe I do not wish to touch EPF savings which receives very healthy dividends every year.

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Retirement Related

When we retire do we have a free place to stay? Else, better read this as early warning.

Beyond just the subsidies… special payouts… cheaper price of goods via controlled prices… they have to ensure everyone in need of a place to stay has a place to stay and this place to stay is as affordable as it could be. It does not need to be an apartment yeah. Ensure those who does not have a few hundred ringgit extra also has a proper place to stay, to shower, to sleep soundly at night.

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Retirement Related

Retirement Readiness: Gen Z vs Baby Boomers

Actually I have read many studies saying that the younger group is more financially savvy and usually has more investment knowledge versus the older ones including the Gen-Xers like me. So, when I read this, I think I need to share with everyone and remind the ‘oder ones’ that the runway for us to earn more is shorter than the younger ones who could still afford to take their own sweet time. So, if they start early, they will definitely be far more ready than many. Read on about the recent study by Vanguard.

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Retirement Related

Retirement Age in Malaysia: Pushing to 65?

Many friends have chosen to retire way before 55. Two very close and good female friends come to mind. One is a super successful professional who’s a single and another has a very capable husband and thus she relinquished her senior role and stopped working. Some however are still working and they are past 60! However, their companies wanted them and kept offering them contract extensions…

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ABCs of Property Investment

Understanding Aging Districts: Invest or Stay?

The above refers to the population. Thus, if these are the population statistics for districts, then these districts would also be known as aging districts too. Frankly, I have heard of Ipoh being the town of retirees and someone mentioned the other day that Taiping has more retirees than Ipoh. Well, both these were not mentioned in the Emerging Aging Districts presented by PropertyGuru during its Future Built 2025 summit which happened on 30th October.

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ABCs of Personal Finance

World Bank Advocates Aligning EPF Withdrawal Age with Retirement

For some of us, the answer is, ‘yesterday.’ The money is ours, why could we not withdraw it anytime we want? For the ones who are working and maybe has a more stable earnings versus expenses, maybe it’s on the dot at 55 years old. Nothing more, nothing less. Meanwhile my aunty who has retired told me that it’s best to just leave it inside EPF because the dividends are very good and FD is lower while stock market is a lot more volatile. So, her choice is based on what her needs are.

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quote box ontop of stack of paper bills
Personal Finance

Malaysians are not taxed enough!?

Anyone here felt that they pay too little tax? I would agree and I am also very happy that if I earn more, I should pay more in tax. I know, when one is a businessman, spending is sometimes better than not spending and thus having to report high profits and get higher taxes. Well, there is this remark that the government is not taxing enough. There are suggestions on how our government can get higher tax revenues too. GST was mentioned. Progressive tax was also mentioned versus a fixed regime too.

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