In today’s fast-paced world, the concept of financial freedom holds more significance than ever before. Most people aims to attain financial freedom. In this article, let’s explore this concept and what we can do to achieve financial freedom. What is financial freedom? Financial freedom is not just about accumulating wealth. It is also not about …
Month: May 2024
(Updated: 22 May 2024) Employees’ Provident Fund (EPF) has restructure its members’ accounts starting 11 May 2024. Account 3 or Akaun Fleksibel is now active. To learn more about this new account structure, you may click here. Transfer initial amount to Akaun Fleksibel We can use the KWSP i-Akaun app to initiate the transfer from …
In estate planning, trusts serve as invaluable tools for individuals to manage and distribute their assets effectively. Two common types of trusts used in Malaysia are revocable and irrevocable living trusts. Understanding the differences between these two structures is crucial for anyone considering estate planning. What is a living trust? Before diving into the specifics …
In this article, the nomination I mean is the naming of beneficiary(ies) for three assets, namely your Employees Provident Fund (EPF), life insurance and personal accident insurance, and Private Retirement Scheme (PRS). This is part of your estate planning. The beneficiary(ies) of these assets are known as nominees. Why should you make the nomination? As …
Employees’ Provident Fund (EPF) is going to restructure its members’ accounts starting 11 May 2024. It is going to introduce Account 3 which allows flexible withdrawal. Hence, a member’s account will increase from two accounts to three accounts. This exercise involves all EPF members under the age of 55. Current account structure Currently, a member’s …
Market condition KLCI increased by 2.60% to close at 1,575.97. S&P500 dropped to 5,116.17, a decrease 2.63%. Market trend: Foreign funds continued to flow out of Malaysia Although the foreign funds continued its outflow, KLCI managed to close higher than last month. Our index has increased by 8.34% year-to-date. S&P500 could not continue its uptrend …
