How EPF can save money with PRS

Did you missed out on this major news ⁉️ Let me share with you what was it all about if you were busy with your work, Instagram, or Tik-Tok. Last week, EPF released a revised retirement savings benchmark from current value of RM240,000 at the age 55 to RM 390,000 at the 60. What is it all about? ✒️ With inclusion of inflation rate and cost of living, EPF realize that current benchmark of having minimum RM240,000 in retirement fund will not be able to sustain 15-20 years of retirement age cost of living. ✒️ Minimum savings benchmark raised to RM390,000 with projection of having RM1,625/month for the 1st year, which can grow to RM4,434/month by year 20. ✒️ As of October 2024, only 36% of EPF member s have achieved the basic savings benchmark of RM240,000. What you can do? 🏅 Invest extra cash which you are not intending to use to you EPF account 🏅 If you do not have cash, go for the EPF Member's Investment Scheme. You can use an allowable amount from your account to invest into Unit Trust and grow your savings in Account 1. How you can invest? PMB Investment (subsidiary of Pelaburan MARA Berhad) is a EPF approved Unit Trust Management Company, which offers Syariah compliant funds to invest in the medium to long term. Let compounding effect take effect to grow your savings. Do not let your money idle and lose to inflation. I am an certified UTC with PMB Investment and I can help you diversify your investment portfolio.

🌟 Have you optimised your CPF Retirement Account yet? The Central Provident Fund (CPF) is more than just a savings scheme—it's a powerful tool for securing your financial future in Singapore. By understanding how to maximise your CPF contributions and utilise your Retirement Account effectively, you can pave the way for a more comfortable retirement. ✅ Did you know that contributing to your Retirement Account can yield attractive interest rates? ✅ Or that it plays a crucial role in ensuring you have sufficient funds for your later years? Follow us as we explore practical tips and insights to help you harness the full potential of your CPF! 💡 #CPFRA #CPF #RetirementPlan #RetirementInvestment #RetirementTips

Myth: You can rely solely on EPF for Retirement. ❌ Reality: While the Employees' Provident Fund (EPF) is a great tool for retirement savings, it alone may not be enough to sustain your post-retirement lifestyle. ✅ EPF contributions are designed to provide a safety net, but they may fall short of covering long-term expenses like healthcare, inflation, and lifestyle aspirations. Relying solely on EPF could mean sacrificing your retirement dreams. 🙅 Example: Let’s say you retire at 60 with ₹50 lakh in EPF savings. With inflation eating into its value annually, will it last for 20+ years of retirement? Likely not. 🙂↔ Diversify your retirement strategy by adding mutual funds, NPS, or other investments. A balanced plan can ensure your golden years truly shine! 💡 Ready to craft your retirement strategy? We're just a consultation away! 🤙 #RetirementPlanning #EPF #InvestmentMyths #InvestSmart #MythBuster #FinancialFreedom #SmartInvesting #AstronFinancialAdvisors

Elevating Retirement Readiness Among Canadians 🚀🍁 As Canadians, how we approach saving for retirement today will shape the quality of our tomorrows. Encouraging a culture of proactive retirement saving is essential. The question remains: How can we inspire every Canadian to prioritize their future financial well-being? Engagement starts with education. Providing accessible, clear information about the benefits of early and consistent retirement saving is key. Let's talk about the practical steps to build a robust retirement fund, from taking full advantage of RRSP contributions to understanding investment options. It's never too early, nor too late, to begin. I'm here to help navigate the path to a secure retirement, ensuring you can enjoy the fruits of your labor when the time comes. Together, we can turn the dream of a comfortable retirement into a tangible goal. #RetirementReady #FinancialWellness #CanadianRetirement #SavingCulture #RRSP #InvestmentEducation #FinancialPlanning #RetirementGoals #WealthManagement #RetirementAdvice #FuturePlanning #FinancialSecurity #InvestForTomorrow #RetirementSavings #PersonalFinance #CanadianInvestors #RetireWell #FinancialFreedom #SmartInvestments #WealthAdvisory

🌟 Building a strong retirement foundation just got easier with the Supplementary Retirement Scheme (SRS)! 🌟 As the year is approaching to an end, many of us are looking into alternatives on how to better manage our finances. I've been exploring how SRS can benefit Singaporeans, PRs, and even foreigners who are looking for ways to maximize their savings and gain tax relief along the way. Here are a few reasons why I think SRS could be a smart addition to your retirement strategy: 💸 Tax Relief: Contributing to SRS allows eligible individuals to enjoy tax relief, meaning you get to save more of what you earn. 📈 Potential for Higher Returns: By investing your SRS funds in equities, there’s potential to achieve returns that may outpace those of the CPF Special Account (SA) – helping your money grow even faster. 💼 Investment Flexibility: SRS funds can be used for endowments and investments, giving you the freedom to choose what best suits your goals. Every little bit counts when it comes to securing your financial future. Whether it's through SRS or other tools, the goal is to build a retirement fund that supports your dreams and aspirations. 💪 Just a personal take on the topic! Let's keep the conversation going on retirement planning and share ideas on how we can all build a better financial future! #RetirementPlanning #SRS #FinancialIndependence #TaxRelief #InvestSmart #FutureYou

Are you planning for your retirement? 💼📈 A crucial aspect to consider is your Central Provident Fund Life (CPF Life).🏦💰 This often-overlooked resource can be a game-changer in covering significant retirement expenses. ✅☑️ Consider this: you're a young professional in Singapore. 🌆 While busy climbing the career ladder, the thought of retirement may seem distant. However, it's essential to plan today for financial stability tomorrow. 💵🔮 For instance, imagine Mr Tan, a middle-aged Singaporean who starts taking out his CPF Life payouts at 65 after setting aside his Full Retirement Sum (FRS). His monthly payouts are there to cover essential living expenses like food and utilities—and even periodic healthcare costs--in his golden years! 🔑💡 The best part about CPF Life? It guarantees lifelong monthly payouts regardless of how long you live or how investment markets perform—now that’s peace of mind! 🕊️💲 Dive deeper into the benefits of using CPF life for important retirement expenses by reading this informative article from The Straits Times ([Use CPF LIFE To Pay For Important Retirement Expenses](https://lnkd.in/gZMiw3Kv)). Join many others who are preparing intelligently for their future—plan wisely and live confidently! 🎯 #retirementplanning #financialsecurity #CPFLife

Take Control of Your Retirement with EQRP Did you know there’s a way to invest your retirement funds beyond the stock market? The EQRP (Enhanced Qualified Retirement Plan) offers flexibility to invest in assets like real estate, private equity, and more—all with the benefit of checkbook control. Right now, EQRP is running a promotion with 50% off their plan setup fees. It’s a great opportunity for anyone looking to explore new ways to build their retirement portfolio. Some of the benefits of an EQRP: 💼 Freedom to invest in what you know best. 🛡️ UDFI tax protection on leveraged real estate investments. 🏦 More control over your financial future. If you’ve been curious about how to diversify your retirement strategy, this might be worth looking into. You can click this link https://lnkd.in/em_xpgTE to schedule a strategy call.

CPF Life: A solid foundation, but is it enough? As someone who's been studying retirement planning for years, I've come to a conclusion: CPF Life is a great start, but it's just that - a start. Here's why: • Rising costs of living in Singapore • Increasing healthcare expenses • Desire for travel and leisure in retirement My advice? 1. Maximize your CPF contributions 2. Explore supplementary retirement income plans 3. Invest wisely to build additional wealth Remember: Retirement planning is a marathon, not a sprint. What steps are you taking to secure your financial future beyond CPF Life? #RetirementPlanning #FinancialFreedom

Are Your Retirement Savings on Track? The EPF Belanjawanku 2024/2025 Guide and the new Retirement Income Adequacy (RIA) Framework are here to help Malaysians secure a better retirement. Here's what you need to know: - Minimum Expenses for a Decent Lifestyle A single retiree needs RM2,690/month for basic expenses. - New Savings Targets by 2028 Basic Savings: RM390,000. Adequate Savings: RM650,000 (for RM2,708/month over 20 years). Enhanced Savings: RM1.3 million (for RM5,417/month). What This Means for You With rising living costs, it’s time to review your retirement plan. Consistent savings and smart investments are key to hitting these targets, not to mention the other financial areas (cashflows, protection, distribution, etc) that are crucial to your retirement life. Need Guidance? I specialize in helping Malaysians achieve their retirement goals with tailored advice and comprehensive investment strategies. Let’s make your future secure and fulfilling. DM me to start planning today!

An effective way to boost your retirement savings is by diversifying your portfolio beyond stocks and bonds. You can do this by investing in property through your self-managed superannuation fund (SMSF). This helps spread risk and protects your retirement savings from market fluctuations. Real estate also offers the potential for capital growth, meaning your property value could increase over time. This will help grow your savings when it comes time to sell the property. Additionally, rental income from the property can provide a steady cash flow, supplementing your retirement income and offering more financial security in your later years.