EPF Declares 5.8% Dividend
EPF(Employees Provident Fund) is paying a little bit higher than last year’s 5.15% and the rate has been steadily growing since it hit a low of 4.25% in 2002. If it keeps going up in the future, I will be a happy man. Who wouldn’t when the bulk of your savings is in EPF.
I want to enjoy the same lifestyle when I retire and to do that, my retirement fund must be able to support my lifestyle. Of course I have other investment other than EPF. You can’t rely on EPF alone.
If you need about RM3000 a month currently (that’s after deducting all loans and your children expenses) and let say you can live up to 75. (75-55)*12*3000, you will need to have RM720,000.00 the day you turn 55 … so that you can make through 75, insya Allah. That amount is without taking into consideration of future dividends, the value of money at that time, blogging income 
and others. I am also assuming that your children education funds are enough and separated from that amount.
That’s if you want to maintain your current lifestyle but then, as we get older, our lifestyle may change and we may not need that much, but it is better to assume more than less. By the way, although my hair is white, I still have them. For those who are still young but are losing it you might also need to consider to keep some money for hair transplants.
That’s a lot of money.
Do you think you have enough to get you through? How much will your EPF be worth down the road of 20 years from now? Many thought that they will have enough, but with the cost of living going up, we might retire poor.
I don’t want that to happen to me. Think about it.
Many don’t really care about their finance unless, maybe after the got married or only after they got their first child. You don’t have to be financial savvy, but at least you need know how much you are going to need and start finding ways to achieve that.
The best way is to get a financial consultant. A cheaper alternative is to buy a book, read and follow.
Anyway, if want to calculate how much you will have in your EPF account, check out RHB’s site.
I have one question though. Does this has anything to do with the coming Malaysian General Election?
Tags: KWSP, Kumpulan Wang Simpanan Pekerja, EPF, Financial Savvy, Dividends, Funds
