"Should I Retire?" M’sian In S’pore Accumulated RM1.2 Million In CPF Savings After Working For 20 Years, Says He Doesn't Know What To Do With His Money

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"Should I Retire?" M’sian In S’pore Accumulated RM1.2 Million In CPF Savings After Working For 20 Years, Says He Doesn't Know What To Do With His Money

02-Feb-2024
By Ayunie

For Malaysians, working in Singapore provides undeniable job satisfaction with much higher wages. However, the challenges are immense for those known as "RUN SGD," commuting daily between Singapore and Malaysia for their livelihood.


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After two decades of trying to make a livelihood in Singapore, a 42-year-old Malaysian worker revealed his fatigue in a candid Facebook post. After starting employment in Singapore in 2003, he declared his Central Provident Fund (CPF) account balance of S $354,258 (RM1.24 million), which is a significant savings fund utilized for social security and retirement savings.


Despite receiving a monthly salary of S$5,000 (RM17,618) as an engineer, he is now considering his next life advancement, with early retirement being one of his options. According to his post, he's weary of the daily drive and is uncertain whether to continue working or use his amassed savings to enjoy the blessings of his labor while still in good health.


https://image.goody25.com/images/catalog/59661/20240202_17068492111281_mobile.jpg  

He also indicated that he is currently unmarried and expressed a desire to concentrate on his personal life, intending to enjoy it before reaching an age where the risk of chronic illnesses might increase. Mentioning his reluctance to use his saved funds for purchasing land due to the High costs, netizens proposed various suggestions. Some recommended that he retire and embark on a journey of travel, while others encouraged him to settle down and pursue marriage. Additionally, there were suggestions for him to consider starting a business.



What would you suggest him to do? Comment below.



Source: mStar


CPF savings engineer Singapore malaysia early Retirement Facebook post viral


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