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Spending money after retirement is a serious affair. Do we have enough?

This article was published a few days ago. “Let’s aim at EPF savings of close to RM900,000 ok?” (click here to read) A number of good friends commented and the below image would be some of the comments yeah. Clement said that RM900,000 could hardly buy a landed property in KL. Depending on the area, he is right. I think even RM1,000,000 will not be enough to buy a landed terrace in a mature neighbourhood. We are not even going into semi-detached or a popular neighbourhood yet. Take a look at the image below:

EPF savings only for us after we retire.

I would just like to add though that in some lesser known neighbourhoods, RM500,000 or thereabouts is still enough for a landed terrace home. Just do not expect too much yeah. By the way, RM900,000 which we are talking about here is just the savings inside the EPF and this savings, you cannot touch until after you retire or reaches 55. If you continue working, then you may withdraw all the amount by 60. So, the RM900,000 is not for buying a home but more for our expenditure after we retire and no longer earning a stable monthly income.

RM900,000 can last for how long?

Leon Sarah says that the RM900,000 may not be enough because as soon as one retires, they will buy a retirement car, go vacation and spends probably RM50,000 per year. In other words, by the time one reaches 72 years old, this RM900,000 would have all been gone. Then he added this very realistic and objective comment. He said, “need to treat 900k as a bonus instead.” Yes, I think we need to treat the EPF savings as a pleasant surprise. At the same time, just keep saving and investing yeah. Hopefully even before we retire, we have 2 properties? One to stay, one for rental income. 🙂

It’s not about the amount of money, it’s just about me.

My parents would be the best example of how most of us should be spending our money. They do not spend unnecessary like me (or most of everyone) which meant that their daily expenses are very manageable. Two Lattes at a cafe? They could drink coffee for 7 days in the nearby kopitiam. A value for money set lunch for one pax for RM19.90? RM19.90 is definitely enough for their daily meal. They only cook a lot of EXTRAs when their sons and daughters are home. Haha. That’s when they have to fork out extra money. 😛

I am from a different generation. I have to admit first. I do not think I will skip all the trips to a cafe. I also do not think I will be able to eat almost the same food on a daily basis. Just watching the TV and chit-chatting with neighbours may not be enough for me as well. I also do not subscribe to the usual argument that men hates shopping. I have over 30 pairs of shoes… Because of this, I have to read more, understand more and continue investing.

Take Advantage of the connected world today. With this in mind, I will also continue writing and sharing too. If we look at the world today, we would realise that a great idea could be turned into a product and in a short period of time, wealth could be built because the world is today super connected. We should also know the a pandemic like COVID-19 could wreck havoc to all businesses. Happy building beyond just one stream of income because this is the only way forward. Cheers.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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