Malaysians, we all know what's up when it comes to contributing to KWSP, but did you know that the Malaysian government has a suggested amount that you should have in your savings by the time you turn 35?
A user on X recently shared on socials about how much that number is. Based on the tweet, it is RM57,000 in account 1 and RM76,000 across all accounts.
This amount is ideal to build a profile of RM240,000 in account 1 by age 55, which could yield RM1,100 in monthly dividends with a 5.5% annual return.
In one viral story, a woman shared her EPF balance nearing RM2 million, by the age of 35. Her savings included retirement, sejahtera and flexible accounts all amounting to RM1,918,580.36.
Her strategy has included jumping jobs steadily since graduation, resulting in higher salaries, contributing up to RM100,000 to her EPF on the yearly, and never withdrawing from her KWSP.
Sounds like a pretty solid plan to us... what do you think?
