Are you working hard today? I hope the answer is a Yes. Do you think by the age of 30, you will be able to be promoted sufficiently to earn RM5,000 per month? That’s for you to answer yeah. Today, let us take a look at what happens to someone with a RM5,000 monthly salary and his actual EPF savings when he retires at 60. The below is just EPF savings yeah. Yet to include own investments. I use age 30 because by then (assuming one starts working from 23 / 24 after his graduation), the chance of a fresh graduate to move up to become an assistant manager by age of 30 is certainly there. Yes, I have exceeded RM5,000 per month before I reached 30. I was in the sales profession… Go for it young man.
This is one reason why even working class people could become a millionaire if one does not simply spend everything one has or to accumulate high credit card debts. Remember yeah, many Malaysians do go bankrupt on a daily basis, statistically. Read here: 16,000 Malaysians go bankrupt every year…Just need to keep getting that promotion (BY WORKING HARD) and continue climb the corporate ladder and one day in the very near future, the above EPF savings could just be yours. Beyond the EPF, it would have to depend on what we do to build, invest and preserve what we have. Are we earning, saving, investing and preserving what we have? Happy understanding.
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