The Employees Provident Fund (EPF) is a retirement savings scheme designed to help employees build a financial cushion for their future. While mandatory contributions are deducted from your salary, you also have the option to make voluntary EPF contributions—but is it worth it? In this article, we’ll explore the pros and cons of voluntary EPF contributions to help …
Retirement planning is essential for everyone, but if you’re single and child-free in Malaysia, your strategy needs to be even more structured. Without the traditional family safety net, you must take full control of your financial future. The good news? Being single means you have more flexibility in how you save and invest. Here’s how …
Dreaming of early retirement? As Malaysians, we’re lucky to live in a country with affordable living costs, making Financial Independence, Retire Early (FIRE) an achievable goal. But how much do you really need? Let’s break it down. 1. Monthly Living Costs for Early Retirement Here’s what you can expect to spend monthly: Expense Budget (RM) Housing …
Retirement is a dream many Malaysians look forward to—a time to relax, travel, and enjoy life without the daily grind. Retirement should be about freedom—not financial stress. But with rising costs, how much do you really need to retire worry-free in Malaysia? The answer depends on your lifestyle, location, and financial planning. The truth? Most …
Saving money is a common challenge for many Malaysians. Despite good intentions, people often find themselves living paycheck-to-paycheck, struggling with debt, or unable to build a safety net for the future. If this sounds familiar, you’re not alone—but the good news is, with the right strategies (and a little professional guidance), you can take control …
Constructing an investment portfolio requires careful planning based on your financial goals, risk tolerance, and investment horizon. Here’s a structured approach to building a diversified investment portfolio in Malaysia: 1. Define Your Investment Goals 2. Assess Your Risk Tolerance 3. Asset Allocation A well-diversified portfolio in Malaysia may include: A. Equities (Stocks) B. Fixed Income …
Earning more income requires a combination of strategic planning, skill development, and leveraging opportunities. In Malaysia, you can explore a variety of side hustles and passive income strategies. Here are some practical ways to earn extra income: 1. Upskill and Educate Yourself 2. Start a Side Hustle 3. Invest Wisely 4. Leverage the Gig Economy …
The Employees’ Provident Fund (EPF) has declared its dividend for 2024. The rate for conventional savings is 6.30% (2023: 5.50%). It is the same (2023: 5.40%) for Simpanan Shariah. This is the first time that both types of accounts having the same dividend rate. This dividend rate is better than what I expected. Dividend history …
The most common financial planning mistakes made by Malaysians include: 1. Not Saving Enough or Starting Late Many Malaysians do not save enough for retirement or start saving too late, missing out on the benefits of compounding interest. This is a significant issue as the saving rate has decreased over the years, and fewer people …
In today’s fast-paced world, achieving financial freedom is a goal many aspire to but few achieve. One of the most effective ways to attain this freedom is through passive income. Understanding Passive Income Passive income refers to earnings derived from activities in which the earner is not actively involved. Unlike traditional employment, where income is …
