Retirement is a significant milestone, and your Employees Provident Fund (EPF) savings play a crucial role in securing your financial future. Knowing when and how to withdraw your EPF funds can help you maximise your retirement income. In this guide, we’ll cover:✅ When you can withdraw EPF for retirement✅ Types of retirement withdrawals (full, partial, or phased)✅ Key considerations before accessing your …
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 …
Surviving solely on your Employees Provident Fund (EPF) in Malaysia is possible, but it depends on several factors, including your savings, lifestyle, and retirement strategy. Let’s break it down with a case study. Case Study: Can a Malaysian Retire on EPF Alone? Assumptions: Scenario 1: Withdrawing EPF as a Lump Sum If you withdraw RM500,000 …
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 this article, I am going to share my plan to achieve financial freedom. The FF in the title stands for financial freedom. This can also be considered as my retirement plan as my purpose is to stop working once the target is achieved. How Much? The first question that I had to answer is …
Employees’ Provident Fund (EPF) has introduced its Retirement Income Adequacy (RIA) Framework on 12 December 2024. The RIA is set to launch in January 2026 but some details are already released. RIA Framework The RIA framework allows members to set savings targets that reflect different retirement lifestyles and aspirations. This approach emphasises the importance of …
Have you heard about FIRE? It stands for Financial Independence, Retire Early. The concept of FIRE revolves around saving and investing aggressively to accumulate enough wealth to retire much earlier than the traditional retirement age. What Is Financial Independence? Financial independence means having enough wealth to support your lifestyle without needing to work for an …
In this net worth series, I have shared the net worth that a person in an age bracket (by decade) should have. We have discussed net worth for the 20s (click here to read), 30s (click here to read), 40s (click here to read) and 50s (click here to read) in the previous posts. In …
In this net worth series, I will share the net worth that a person in an age bracket (by decade) should have. We have discussed net worth for the 20s (click here to read), 30s (click here to read), and 40s (click here to read) in the previous posts. In this post, we will talk …
