"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

×

SEARCH FOR

Input your search keywords and press Enter.

Trending

"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.


https://image.goody25.com/images/catalog/59661/20240202_17068476185401_mobile.jpeg  

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


Ayunie

Matcha-fueled Aries reporting for duty.

Report

Trending


TRAGIC: Brave Mother Pushes Son To Safety Before Tragically Being Struck By Incoming Train In Sabah

Trending   3 Days ago

MCMC Investigates University Student With 100k Followers On ‘X’ For Allegedly Selling Explicit Content For RM150

Trending   1 Week ago

WATCH: Man Impersonating As An ‘Officer’ Caught Punching Foreigner At KLIA, Immigration Department Denies Involvement

Trending   2 Days ago