Article 1
Article 2This is what I have been teaching and sharing in my Millionaire Business School to people to understand that NO ONE can survive with just having an employee mindset and lifestyle once they grow older. I refer to the (Article 1) that I have attached an article that states based on a survey carried out by EPF in 2004 showed that 99% of contributors withdraw all their savings in one lump sum after they retire at 55 and 75% of them deplete their EPF savings within 3 years of withdrawing the money. This is exactly why we MUST be more than just an employee today. We MUST start to own businesses, be an investor and most importantly start today to learn how to become one. Based on (Article 2), the basic assumptions and calculation shows that we are NOT able to survive beyond the age of 75 if we do not have enough saved up or have prepared ways for sustainable income after we lose our monthly income. Please do something today for yourself and not be a burden to your family and society in time to come.
34 comments:
Saving will tremendously help us during gloomy days. We do not know what will happen in future. Prevent debts, save as many as possible.
I'd like to refer to EPF money as "dead money" Why? because this one savings where we have bad return or very low growing value.
For those who have worked their behind off and let say today banked about 200k in their EPF. For today's standard it might be something to shout about. However, that amount as time and whole bunch of other economy tremors come along the way. By the time you reach 55, that amount will be Sh*t.
saving in money alone won't work. take comparison 10 years ago, 200k can buy you a nice decent house in a nice decent neighborhood. However, today's 200k you will be glad you can buy yourself a condo with 2 rooms where if you and your spouse got into a fight you don't even have space to run away from each other.
so yes, those of you who's depending and always take granted of "That's what EPF are for" think again! :)
Just my 5cents worth of thought. Have a good day.
Scary truth...besides buiness the wonderful goverment should alraedy have back up plans for its people.
More channels for the Rakyat to save or increase the contribution and deductions for EPF.
Buiness and investing is the best way out of this but no matter how we cut it many would not make it here. Come on Goverment ....time to start thainking of the people very gloomy future.
Yup, Prepare yourself to be great business or prepare yourself to die at 75. Choose wisely.
if can't be a business ownerr, at least have some investment is to increase income.
this is a scary truth...there are tons of ways to cover your back side in the future...some of the tips are shared in 3R (yes. i watched 3R)on how to generate passive income...good info... so start thinking now on how to save up.
Hah, apa tunggu lagi...invest your money in amanah saham malaysia...:)
Invest time and money wisely for a brighter future. World Peace. :)
Invest time and money wisely for a brighter future. World Peace. :)
nothing is guaranteed in this generation. money in EPF?
It is consider a bonus if you can have the money in the near future.
At the end, we still need to think of other ways for surviving.
Be dependence in your workplace but be independent in your own financial management.
That's why we need to change our mind set that we want to become a business owner......
Not is constant......but change is!
Explore, Experience and Excited about LIFE!
Save n invest...save n invest..save n invest...n we will die in peace...
In our lifespen, we have encountered financial constraints in doing things we want; no matter how deligent we are as an employee, the EPF savings does not cover our expenses even before we could reach 60 years old. So be wise to ensure sound financial planning and managed our expenses well at the early age of employment.
work hard...save...invest...for the sake of ourselves and our beloved people...
Having a better life means having a Financial Freedom. Saving is the first step, learning to become a business owner and grow yourself to become somebody will help you to give your loved one a better life ahead.
Many of us don't see the importance of saving & investing for your future. Being a business owner is one thing, knowing how to manage your money is another..
sikit sikit lama lama jadi bukit... saving money for rainy day, can this be in the form of formal education?
Not only saving money we need to look into, our EPF money beneficiary also need to be updated. Recently, my friend check out his EPF details, and found out that his beneficiary details already wiped out from EPF system..
Time to pay EPF a visit, kan?
We have to change our mind set. people need to get out from their comfort zone . goverment is banking in their monthly pension, private banking in thier EPF where some of thier children waiting to have a little a bit of share. we have to be bold towards life dont be to complacent or you might die even before you reach 50.
Damn....it's like the twilight zone..I mean like, if I don't start saving my hard work money, eventhough I have EPF, I'll be just another helpless person asking for money or food beside the road..the stats freak me out..However, I wanna be at the age of 35 with a salary of a 55 year old person....now that will sure save my life in the future...
its time to set a goal, work harder, spend less and save more!
is time to have a plan now..
a realitic, workable plan that can make sure you can survive after retiring, no more monthly income..
Financial Management!! Yes, this is highly recommended for those who are lavish in spending!
If you own your own business and be prudent in investing your money, it will be beneficial in the long run!
Hmm...the parable of the pipeline rings in my head.
There is nothing that we can depend on in life beside ourself. If we do not start a proper financial plan right now, we will definitely be suffering later. No doubt... Like it or not ......
The future is in your hand. Stop depending on EPE, your children, or what so ever.. Do something about it for your great future.
Saving and Saving and Saving....
Yup, we must change the way we think about retire.
it's dead money..true..
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Well, although the facts revealed is kind of cruel that 'we better die at 75', but i think we should act positive. Search out for more investment opportunities out there, plan for our old age....
Inflation happened every year but salary is not going to increase a lot. How much we can save? We have to think of our medical fees as well when we are getting older. There is something that we got to think and plan ahead...
Save and invest is the best way besides being a business owner.But invest wisely for the long term not the short term.
We need to plan for ourselves and allocate our money to various divisions according to our life cycles such as medical plan, saving plan, retirement plan, investment plan, and children education plan early of your age. Besides that, you need to spend our money on mortgage, car loan, credit card and other daily expenses. If you fail to plan your will regret for whole life. No one plan to fail but only fail to plan.
there's a way to maximize the money from the EPF. onw that i've discovered and practise is invest in mutual fund. the government allow to invest 20% from account 1 to invest in Unit Trust.
What i learned.. one must have at least RM 1.4 million when retired.
http://www.kwsp.gov.my/index.php?ch=p2members&pg=bm_p2members_wdrawtype&ac=32
If you dunno how to do, find out the way - do online research, read book, find the expertise etc, take action and don't just "I think i want to be..."
Currently I am 26, I can feel the difference when I am earning only few hundred bucks where seems so much to me 10 years back. Our needs grow together with our age, the older you are the more you want. Maybe this is not suitable for everyone, but I think this shoe fits me. I agree that we need to be business minded and start to plan for the future rather than thinking that the EPF can be your saviour. EPF = Entering Poor Fund.
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