Sunday, October 31, 2010

Should I worry about retirement?

Have you every thought of how much money that is needed for your retirement? If no, probably you want to start thinking about it now. This is an interesting article I get from “thestar” newspaper: Is savings enough for retirement?

Apparently from the survey by AXA Retirement scope 2010, Malaysian seems pretty aware of the amount of money that they will get after retirement (i.e. 54%) as compared to the rest of the countries except India is ranked number one. This is a good sign as least you still know exactly how much you will earn or get after your retirement.

On the other hand, I’m not sure if this considered to be good news or it simply means other countries have taken care of their citizen’s retirement therefore they don’t really care about it? Countries such as UK and Australia, you can see that they don’t really care about it. I think this is mainly due to the fact that their governments have taken care of their retirement. That is also one of the reasons why people like to migrate to Australia. :)

Having said so, if you look at the data, majority of people around the world still do not really give a damn about retirement. Because more than half the population do not aware at all how much they will earn after retirement. “Who cares? There are still plenty of time!” - this is the most common reason why people still do not want to take it seriously. But I afraid by the time you start thinking about retirement, it is probably too late…

Let’s look at this another data for Malaysian’s perception on whether their retirement income is sufficient or not. As you can see, (35% + 2%) = 37% think their retirement income is sufficient. It used to 62% in 2007 and now this drops dramatically.

Looking for Solutions?
  • If you ever want to know the amount of retirement fund that you need for your retirement, you can look my previous example, how one can calculate the retirement fund: 10 Years Retirement Plan is Possible.
  • Once you know exactly how much is needed for your retirement, you have 2 solutions. First solution is to earn more and the second solution is to spend less. You can check out my previous post: 2 Solutions to Retire Rich.

Discussion: Since we’re now in the trend of getting more and more people neglecting retirement planning, how should we fix this? Should we increase the awareness of the people OR should the government take care of it so that we all do not need to worry about retirement (like what Australia and UK do)? What do you think?


Kris said...

Earn a little more and spent less a little. It is the best combinations..

Yes. It is correct that we need to have a 2nd income. :P

Being an employee we are somehow expendable :( That is the sad and ugly truth.

Kris said...

I almost forget, always look for a moderate person for a life partner :P

Super duper important ..hehehe

ChampDog said...

Yes, earn more and spend less but that is not the usual case. The usual case, is earn more and spent even more.

That's why you see a lot of artists still can go broke even though they earn so much money.

Hahaha... are you now having a high maintenance life partner? lol. Maybe we can get one super duper rich and you help her to manage her money. :)

Chong Kong Hui said...

I am one of the agent selling for retirement fund. I also know that my own retirement fund is insufficient.

To earn a little more is not enough, we need to earn a lot more because the inflation and lifestyle cost is damn high... and some are really beyond your control.

Luckily, my life partner don't spend much and thus a big relief for me.

ChampDog said...

Realizing the retirement fund is not enough, is still better than not knowing at all.

Earn a lot more is subjective, how much is a lot and not everyone can do it. I myself is one of them. :D

I think it is matter of choice, whether you want what kind of lifestyle that you want and how long you want to sustain the lifestyle. Knowing that choice is crucial.

Hahaha... looks like now life partner is also part of the equation. Good for you then! For me, my life partner spending can be consider as moderate but anyhow she earns more than I do. :)

Kris said...

Haha..that is completely true :P Life partner is a big equation. lol

Good for both of you :P

ChampDog said...

I think we still can talk to your life partner if he/she a big spender (do not tally on what he/she earn). Of course if he/she is super rich, being a big sender has no issue with that.

Talking to them about personal finance is a good start. Tell them exactly what they to need to give up in the future or what is the impact of their current spending and etc. I have seen real cases where a big spender girl change her lifestyle after her bf start discussing about personal finance with her.

Usually a pretty reasonable person will able to accept and understand that unless she/he is expecting you to be super rich to cover all her/his expenses.

If we cannot influence or convince him/her to spend less, the next big thing is to start thinking whether you can be the one that she is expecting or is she really the one? I know, this is sad when come to this stage. Well, that's life...

Jayce said...

Government? I better keep the money myself. =P

ChampDog said...

Hahaha... I kind of agree too especially if you talk about Malaysia. :)

Atika Drake Uni said...

hey, are you from Malaysia?
your blog is so informative!
i'm looking some basic and easy definition on subprime crisis and i ended up come across your page.

keep on blogging! :)

ChampDog said...

Yes, I'm from Malaysia. Thanks, I'm glad you find this blog useful! :) I hope I will keep up blogging too!

car loan said...

As long as you stay away from debt then it will be a lot easier to think about plans for retirement.

ChampDog said...

Yes, stay away from debt is always the first step we should do. There are few more steps to go for retirement planning. Btw, good dept is still considered okay.

maveric said...

I retired 2.5 yrs ago.I had no break in my 'employee category' for close to 34 years!LOL..started off with a salary of RM320 in '76!!..&..ended off around the RM8K level all the way in MNC's sales/marketing.The experience here is that the EPF is what it is for..your retirement'nest eggs'so please DO NOT dabble in for housing loan,medical,studies loan will come a time when the compounding int% effect amazes you once you have a SIZABLE critical amount & it came about in my late 40's..!!...As @ end 2011,there were 11.3k EPF members with >RM1mill in their accts.I'm sure many more can join them and I in this category.

ChampDog said...

Hey Maveric, thanks for your comment again. Agreed, do not touch the EPF if possible. So I guess what you get from EPF saving is enough for the rest of your life now???

maveric said...

Hey CD,put it to you this way.The average age for a M'sia guy 'conking'off is 75yrs old...that means I have another 16 more yrs to go.I need to presume that the EPF can dish out a annual dividend of between 5-6% for the next 16 yrs and that means they 'take care of me' with a dividend of rm60-75k/yr..working out to rm5-6k/month.It is comfortable now but nobody knows the future.Well...'live within my means & hang on tight'!!

ChampDog said...

Hey, that's not bad at all, pretty healthy! :) I'm pretty sure you can do it.

Not to pour you cold water(and touch wood), if you have medical complication one day, it may suck it out a lot of cash. So still better to stay with the means then.

Btw, I assume you have no debt by now? Have ever considered back to work? Maybe part time perhaps?

maveric said...

Aha...absolutely 'no freezing water & rose wood' in your is absolutely vital that you cover yourself with an adequate 'surgical/hospitalization'thingie before you retire(you would normally have a kind of procrastination on this as one is normally cover by an employer on this whils employed...please get one for yourself & love-ones asap for a lower premium!...failing which,please do not grumble in joining the Q's @ govt hospital in a worst case scenario with al the uncertainties) Experience tells me that you WILL utilize what ever you pay the insurance co one day...dead certain unless you are so fit until 70 yrs old..!! Yes...absolutely no debt is vital & you need to get them out, if possible, way before you retire(do not have this fallacy of thinking that your EPF fall-back acts as a collateral for your debt!! the chinese saying goes 'to receive cash/gratuity from others,you need to shield them from problems/calamities' naturally you have all the brickbats/stress....Well...maybe something not so stressful then...

ChampDog said...

Great, thanks for sharing this. You want to consider writing an article to share your experiences in my blog? I bet many readers will be very interested to know. :)

Kris said...

Interesting, I have some comments on this in the next few days on my blog :D

ChampDog said...

Cool, can't wait to read. :) Ping me when it is up!

maveric said...

Hi CD - Correction on EPF dividend.Sorry ...I just remember this point;EPF will give you dividend until you are 70 years old ONLY.In this case,EPF as per my earlier comment shall 'take care of me' for the next 11 years only..with other factors unchanged..!

Write an article..LOL!I am not that special lar...maybe a little better among my peers in the EPF thingie only..still prefer you coming out with the questions & I respond with my 2 cents worth ....

ChampDog said...

Hahaha... Thanks. I don't know the dividend paid until 70 years old only.

Good idea. Maybe I can do some kind of interview with you. I ask questions, then you answer. :)

maveric said...

Hi CD,still on the EPF thingie...let say a member 'conk' off@ age 65 and the beneficiaries did not make a withdrawal,dividend is still payable till the member's 70 biological age!(It doesn't matter if the deceased member death cert shows 65years,the beneficiaries enjoy another 5 years dividend if they so wish to withdraw at the member's 70 years age )
The beneficiaries need to withdraw everything out.Other than the whole lump sum,a surviving member at or>55 yrs can withdraw sporadically or on ad-hoc basis...which is common knowledge.

maveric said...

Hi CD..sounds like I am a bit long winded(cheong hei) but this is my experience...this is the time-of-the year where most 'employee' would know their increment & hence new salary level.If one has a desire to have a bigger 'nest egg' ,an increase level of monthly EPF contribution is necessary ....all you need is to go to your payroll personnel & tell them your wish to contribute X% above your mandatory level(determine the amt from your increment quantum)..all you need is to fil up/sign a simple form.Believe me,you will somehow survive.Anyway,if you have misgiving later,all you need to is to go back to payroll for the reversion...well,probably this time you need to buy them lunch for all the hassle!

ChampDog said...

Thanks again for the sharing. :) "Cheong hei" is good! lol

So what you're saying is the beneficiaries can leave the money there and not withdraw it? I always have an impression that one should always withdraw everything as soon as possible so that their money won't be gone! :)

Yes, 11% employee EPF contribution is the minimum requirement but one can still decide to go more than that. The tricky part is, the EPF return is 6% and if you can put your money somewhere else higher than 6%, you don't need to increase the X% EPF contribution. But I guess many do not even aware that they can increase X% employee EPF contribution. Thanks for the sharing gain!

maveric said...

Hi CD...what struck me was your 2nd para ' possible so that their money won't be gone!'
Yes..the EPF,I think is one big 'Ponzi'- MLM scheme.You have >6 million members & you have thousands joining every year for as long as I can remember!However..the big differences are that 1)a member(employee)& the employer need to mandatory contribute a combined total 23% of the member salary level monthly to the scheme & 2)no withdrawal allow until 50/55$ are coming & log in for a considerate period of time...'No run on the EPF' at all,more solid than any bank!

Conservatively..let's assume that there is only 4.5mil active members & all have an average of RM1k in salary..that means the EPF monthly collection would be 4.5mil x RM230 = whopping RM1.035Billion!!

EPF is certainly cash rich..I think.

ChampDog said...

How about the EPF loan to the government? Any risk there?

So, are you saying this big "Ponzi MLM" scheme will survive forever? If no, the question is when? :)

I think the bottom line is nobody will know the "when".

maveric said...

Hi CD..

It's is common knowledge that the bulk of EPF's fund goes to equities,M'sian Govt Securities(MGS)& governmental 'loan' portfolio etc2...these are however,academic to me really but I do believe that the EPF's people are smart enough to realize their No 1 Priority is to ensure they meet ALL the financial obligation of ALL qualified members at ALL times which in all cases are just a fraction of their portfolio...we have yet to come across any qualified member saying EPF has no $ to pay him/her !?

Theoretically,this big 'Ponzi MLM' should survive there can never be a 'run on the EPF per se'

As per the 'when' part..highly unlikely as it is a pure political/physical suicide to have 6million people bearing down on you...!!

ChampDog said...

Interesting, if forever, then we have nothing to worry. Just wondering how many out there will agree with you. :) :D

Something that come out from my mind, is bank safer or EPF safer? Based on your previous comment, you kind of mean that EPF is safer?

maveric said...

@ CD.... are you? Posting something as I just got the news that EPF is going to declare a dividend of 6.1-6.3% for 2012 (announcement within this week)

I backtrack a bit to end 2011 for nos of members on higher saving levels & interestingly,the data were as follows....;

rm600-700k =9,668 members
rm700-800k =6,308 members
rm800-900k =4,415 members
rm900- 1M =3,165 members
> rm1M =11,174 members

Naturally by deduction,the total ACTIVE members nos in the > rm1M should be less than 3k...but contrarily,it is the highest at more than 11k members...
Assuming that the ACTIVE members are nos 2k ie not 55 yrs old yet to take out everything,there are by reasoning another 9k like me who are leaving our $ in the EPF as a 1)investment vehicle (6% is more attractive than bank fd's) or 2)to live out a better part of our retirement from its dividend..!

@ Kris..

if you are reading this,one actually 'boleh' live off from EPF dividend ...currently lar after all.

'Xin Nian Kuai Ler' to all.

ChampDog said...

I"m fine as usual, trying to survive here and there.

Wah, how come you got the insider news!? :) Not bad la, almost same, higher a bit actually than last year.

In total, EPF has how many members? Just want to see the percentage.

Kris said...

I am subscribed to this post :D


You are the lucky ones to able to live off EPF :D

Kris said...

Forget to mentioned that 11,174 is 0.18% of total EPF members :D

I wrote here:

ChampDog said...

Don't aware of your have such post! It is a good one! :) You didn't ping me. :D

0.18%, ~0.2% then still very minority which means most cannot just purely rely on EPF assuming.

ChampDog said...

...assuming RM 1M of saving is enough. :)

maveric said...

@ CD & Kris...

Wah...what a great honor for me to be able to engage 2 'financial gurus' at the same time.

I do not mean to, as the cantonese say to 'psy maien'( self praise on own economic worth )but I do believe that other than knowledge and luck,there must be some positive divine and karmanic blessings on me too...!:) :D

The crux is that the'depend on EPF for retirement' is achievable even for a MCEeee (Form 5) guy like me from the early 70's... at least for now.

You guys are doing a great service in guiding people to financial bliss & it still amazes me that the feed backs & interactions are so lacking....I wonder what other blogs people goes to..:)

ChampDog said...

Thanks Maveric. It is our honor too to have you interact with us! Again, I think we really appreciate the your experiences sharing to us. I bet Kris will definitely agree with me.

Just one thing to clarify, I definitely not a financial guru. Kris probably yes. :) I"m just a normal employee who is trying to survive here and there. Still stuck and will probably continue to stuck in the rest of my life...

Kris said...

Is it because both of us choose to blog anonymously? Perhaps those that blog with "face" will get more comments?

I am not from the financial line :D. I just like to make money..huhu :D

ChampDog said...

Don't really think so unless you show the sexy part of yourself. :D lol! :)

maveric said...

Sitting here & reminiscing the past especially on the EPF thingie ,I must admit that ...a substantial part of my retirement 'gratuity $' was actually willfully placed into my EPF account...when I retired.

The reasons then were
1)EPF dividend rates were better than banks fd's rates.
2)As a retiree,you need to be careful with your investment vehicle(EPF was most conducive then & still is if capital preservation is the #1 priority)....
3)you could not make a $ deposit into your EPF acct directly 'over the counter' like a bank then...the thoughts then were 'put the gratuity$ into EPF & can take out if not happy later or take the gratuity$ & then regret as you can't put into EPF if you want to later'....haha/confusing?? ..;D
4)And of course,the desire to see a 7 digit # in the EPF acct under my name..!

...& ..:) hopefully it grows happily for the next 11 years...:) :D

ChampDog said...

Cool, thanks for the comment again.

Just one thing to comment which you may disagree, "What IF" EPF doesn't turn out right? Do you have the backup plan? I know chances could be very close to zero in your opinion but sometimes you never know. :)

Thus, technically the best is perform asset allocation for you investment portfolio, IMO. Ultimately, we don't put all the eggs in one basket like all those financial gurus like to advise.

Also, one thing to consider. Is 6% of interest is something that you can cope with in future. Most people's personal inflation rate now is > 10% and one who would like to continue this kind of lifestyle, EPF definitely is not for them then. :)

Btw, Happy CNY to you and the rest who read this too! I seldom blog these days but I will still definitely reply to comments. lol! :)

maveric said... did cross my mind the cardinal rule of not putting everything in one basket & the need to spread the risks across more asset allocation categories ! is a fact that 'time' per se is not on any retiree side..I know little or nothing about property,equities,trust funds,forex,structured investments etc2.My dabblings into these in the past had been superficial at best & in most cases left a bad taste in the mouth!

The ' depend on EPF dividend' for retirement was made unconsciously along the way & it seems to have a measurement of success..

I have kind of divided my so-call retirement life plan into '5 years' periods as it is a fact that a retiree can't possible plan long term ie 55-60yrs,61-65yrs..& 65-70yrs.I'm into the last year of the 1st period & shall move to the next period(60-65) after that.

The thought is..after successfully refraining from making any withdrawal so far,it is my objective to long as possible ,any withdrawal in the 2nd period enable the $compounding% to escalate further...

As usual,yours & Kris's advice & viewpoints are greatly appreciated.

ChampDog said...

Yupe, got it. :) In the past, the unknown in future is less, which is more predictable as compared to now or future. When things get unpredictable, diversity is the key then.

You too, thanks for your valuable sharing! :)

maveric said...

Yes...the inflation rate(my reflections are food basically..fresh stuffs in the wet markets & hawker's/restaurant's fares) is still 'manageable'..this is of course tie to the fact that one 'does not eat very much or there is only so much one can eat!' & there is no more debts whatsoever...all purchases ought to be on a cash basis.
As for lifestyle,this issue is subjective..& well, controllable expenses wise.

For a long time,the thought was (for the kids) ..'will financially fulfilled a LOCAL tertiary education' jiving with the belief that education is the best legacy one can impart to their young..!(this philosophy is still true) ..& there will be no money per se left to them.Like me & their forefathers,we ..kind of 'made it' ourselves & they should similarly travel the same path..!

As mentioned by you..'in the past,the unknown in future is less,which is more predictable as compared to now or future' is so true.I do not know..but as a guy retiree,the paternal instinct to protect is still strong which is a delima really.It could be that our experience conjure a cold & indifferent world most of the time.. & this translates to...well ..a reversal from the above philosophy to one of ' to help the young financially if they are in a jam or there is a good opportunity or leaving some $ behind for them..!'

LOL..:) a seemingly financial free retiree still have contradicting thoughts too...

ChampDog said...

I think lifestyle is probably the most important thing for inflation rate because we tend to do forget about it especially when we start earning more and more. It is also the most hardest thing to let go for most of the people. I call this “personal inflation rate” which is different for each person. I blog about this before quite sometime ago. In short, one must know their own personal inflation rate and not follow the standard national inflation rate reported by the government or bank. :)

Education is import, we can't deny that but it shouldn't be expensive in my opinion. The problem now in Malaysia where a lot of parents think that local education is not up to standard. Thus ultimately if they can, they want to them study oversea which is perceived to be better. Then, this education expenses will need to be factored in their financial planning because it is not cheap.

About the unpredictable future, let's take an employment for an example. In the past, most people can stick with one job until their retirement but it is unlikely nowadays – depends on which industry sector that you're in. In technology sector, it will be very unlikely especially you cannot perform or maybe just doing the same thing again and again. The employer will find way to manage you out simply is you're too expensive and less output as compared to those fresh. I believe it also happens to other industries, it is matter of awareness and you don't want to aware it too late. :)

Kris said...


Unfortunately, I am not a girl, if not with some good camwhoring skills and showing some skin, I am sure to attract alot of followers. huhu

From your posting, I think you and your partner lead a very modest lifestyle, so I think your RM1 Million's dividend in EPF should sustain you easily.

Even though the future is unpredictable, aka you will never know whether EPF will be "always there". If that do happen, it is might be a financial meltdown for many people, unless you diversify your money to other countries such as singapore and australia. (buying properties, etc)

But how many people can afford to do something like that unless they are quite well-off.

As for the kids, you already provided the best legacy for them : Provide them with a tertiary education, as you cannot care for them forever, whatever amount of money is not enough to continous bail them out if they are not financially wise.

As for your investments, there is no point to invest in things yourself don't understand.It will spare you from sleepless nights. Since RM1 Million is sufficient for your lifestyle, earning more money does not necessary will make more happier right? :D

So you might as well enjoy your golden years in leisure than worrying about your investments.

ChampDog said...

I think he is enjoying now! :) lol! :)

maveric said...

It's confirmed..EPF declared 6.15% dividend for kind of meet my conservative expectation..I did a simple calculation..if one had rm1M 3 years ago & did not make any withdrawal, the total compounded dividend over the 3 years is rm190.45k (5.8%in 2010,6%in 2011 & the latest 6.15% for 2012)

:)...discounting the merits of the actual dividend%,rm190.45k over a 3 year period is still a sizable amount for me equating to EPF giving me a new Accord or Camry..! (LOL..! need to refrain from self-praise..! ) & of course in comparison, finding it sheer illogical that people take a '9 year car loan' for the same vehicle..!

I really do not know if I'm enjoying now or not..:) lol

ChampDog said...

Yes, you are! lol :)

maveric said...

@ CD & Kris,

Couldn't agree more on the feed-backs from you guys...

There is no drastic lifestyle upgrade for sure except for a quick wish to travel I agreed with a remark that 'one should travel as the legs are still strong as compare otherwise..which is even with lots of $,one can't travel due to ill-health'

Yupe..little or no $ legacy for the young ( their survival in any financial mess will definitely make them stronger...$ knowledge wise..! ) & I remember this statement from an American lady financial guru.." there are bank loans for almost anything except a 'retirement' loan..'

@ Kris

Yeap...stay away from all the investment 'noises' & sleep well every night..!

Plan to increase the wine,women & song thingie too....:D...but not necessary in that order..!

Cheers...:) :D

ChampDog said...

Like my dad now, hardly able to walk for more than 5 minutes. So it is hard if I want to bring him along to travel. :)

So "health" is extremely important thing too, not just financial which I always need to remind that to myself.

Increase Women thingy??? lol!

maveric said...

My greetings to CD & Kris,

Hope to find you guys still $''rolling & kicking'' well !

Need to update that EPF comfirmed that ....
1) that dividends are paid until a member's 75 biological age &
2) for self-employed & retired members,the maximum limit that one can put in is RM60k/year with effect from Jan,2013.

According to the officer I spoke to,members were 'investing heavily' in Nov/Dec,12 as there was no maximum $ cap due to the perceived better dividend rate compare to bank's FD's especially the retirees.

It is a 'no brainer' for a retiree like me actually,which is to place all my bank FD's into my EPF need to scour for the best rate in different banks..!

cheers...: )

ChampDog said...

Wow, cool. Thanks for the information!

Life is as usual, focus on health lately a lot... lol!

maveric said...

Just to share some recent thoughts..the 'cost of living' has kind of escalated lately ( it is definite true when your spouse wants an increase in her monthly expenses citing the price increases of this &!). Is this inflation or money value getting smaller ?

The concern here is that the bulk of my assets is actually in 'cash'...fd's & of course,the fund in EPF. This 'inflation' does not bother me per se as my fund 'size' kind of 'neutralize' it(the net worth)...but I have this unsettling feeling of the unfairness of it after all for a employee retiree like me ...:(

How do you actually partly overcome this deli-ma? Buy physical gold,other currencies like USD,Sin$ etc ...& stash them somewhere..? I do not fancy these bank related forex & gold scheme at all.

ChampDog said...

I think it could be due to both. Currency depreciation can cause inflation indirectly, so you can just call it an inflation then.

What is your own inflation rate after retirement? If it is lower than your interest, I don't see anything need to be worry. If higher, then need to do some calculation assuming you don't want to reduce your spending.

maveric said...

@ CD

Yes..what you said is true.My own personal inflation rate is important & I guess what it meant was the extraordinary expenditure since this case,my oversea traveling expenditure for the last 2.5 years!

This unsettling feeling,I think is a psychological issue: that is seeing a 'declining $ holding' in my monthly personal $ update.It is declining according to plan..& in some months,better than plan( $ expenditure lower than forecast)

The negative result is it has at times turn me into a difficult scrooge.I sometimes wonder if this is common with other fellow retirees..? How do you make yourself accept the declining $ holding is the norm...& well,just accept it graciously.

ChampDog said...

I think I ask you this before. Would you want to consider to back to work? Perhaps part time? That may feel slightly better psychologically, I guess.

Just my thought, imagining one day after my retirement, I will probably need to find something to work for the purpose continuous of income.

Kris said...

I think ChampDog is correct. Perhaps you can do something that you like part time just to pass time :D And at least you can earn some pocket money.

I think you are very well off compared to a majority of retirees out there!!

When you are too free!!, your mind tends to be paranoid. Trust

ChampDog said...

Maybe start blogging? lol!!! Be a co-author for this blog since I don't have much time to write these days? :)

maveric said...

Yes...ok ..? ; both of you made a good point that I ought to get back to some kind of employment thing...the question is in what form..? After being 'out of circulation' for nearly 3 years,both the tires & battery are pretty flat !!...( unconvincing can I get ..!:(..:)

As mentioned,this psychological issue & paranoid mind could be due to boredom & this is because of what yo guys pointed out rightly,I could be too free..!

Philosophically,I am only a human being after all with all the emotional graphics bombarded with both the positive & negative trappings..!

This, kind of make you wonder if attaining 'financial freedom'is an end game after all...

maveric said...

@ CD

Sorry...did not catch what you mean earlier...Be a co-author for your blog??
What does this mean..? I qualify meh ??..:)

ChampDog said...

No need to be same field but maybe something that you enjoy to do? Or anytime relax that yet can help you earn some money? Got such thing?

Co-author of this blog means you write some articles or blog posts for this blog lor. But, there will be very less income or no income at all as I don't earn much in this blog. So this may not work for you.

Kris has a lot of online "lubang" as well, perhaps he can spark some ideas too.

Kris said...


It is a good idea to keep yourself pre-occupied.

Perhaps contribute some articles to my blog or Champdog', you eat more salt than both of us :D So there must be some useful experience to share.

maveric said...

@ ChampDog

Wah..time flies! Coming to close to 1 year since my last posting.I know that you have migrated to Down Under & I am sure you are adjusting really well to your new station.

I just posted some info to Kriss blog too & that somewhat sums up my current situation.

Looks like you are active in blogging again...keep that up!


ChampDog said...

Yupe, have migrated like about 2 months, still adjusting I guess. Where have you been any interesting thing? Ok, will go to Kris's blog and check it out.

Not really super active in blogging, just once a while try to update this blog so that it doesn't appear dead. :)

maveric said...

@ ChampD

Aha..Looks like you have become well versed in the Aussie property field.I am not asking you anything as I am not into any investment!

I moved into my 2nd stage (60-65 yrs) stage this year.Things are coming in quite nicely.As you are aware,EPF declared 6.35% dividend & it means RM6k monthly for my survivor.

Currently,probably as you are aware, I have a 'kepochi' task job of helping a chinaman co into a MNC culture which is real challenging at times..! The $ from them is more than enough for me.

Yeap..concentrating on the health part too..;the revelation is it helps to eat 'smaller portion' apart from the exercise bit..

Not affected by the MAS mishap! I want to travel more lei & the the 1st move for this year see Sakura bloom in the land of the rising sun early in early April..dah booked !


ChampDog said...

Hey Maveric, really good to hear that! RM6K income + ‘kepochi’ task salary is more more more than enough leh! lol!

Sakura bloom is very beautiful, remember take more photos! What airline you use? MAS? Be careful ar, it is about the same route.

Kris said...

Have fun in Japan!!

See those kawaii girls..haha

ChampDog said...

FYI: Kris met his dream girl in Japan. :)

maveric said...

Hi CD...

Wah..! My last posting is coming to 1 year ago lei.I am glad that you & your folks are settling real well down-under too.I am sure Kriss is also chugging fine in his own sort of fashion!

As for me,I am still 'employed' to do the corporate upgrading/'kepochi' stuff for the chinaman company.Honestly,it is not very stressful compared to my 'sales'portfolio days of yester years!

The EPF declared 6.75% for 2014! It was 6.35 for 2013 & the better dividend came as a pleasant surprise lei!( Needless to say that the compound interest magic is commendable if one has a creditable inherent 'solid' base/saving )

I am not boastful to claim the Chinese slogan ...'I have reached the shore' where I am actually financially independent already!I should be OK financially...doing nothing & my life style standard uncompromised too.

As I read somewhere,my emotion well being ...which is the daily subsistence is great (eat what you want to eat,go massage/reflexology often, 'karoke with hostesses,enjoy my liquor) but of course,not too extravagant lar!

All these,somebody said are 'bought' happiness only and are not fulfilling perse lei!The meaning of life is more than these..?! It would be good to hear Kriss & your thoughts ..

ChampDog said...

Hey Maveric, great to hear that you're still doing great especially you have already achieved your financial freedom and still have some works to do. At least, you won't be bored.

About "bought" happiness, coincidentally friends of mine came out this topic as well yesterday during our meet up. This is an old topic already n fact but somehow (don't know why) a lot of people have misconception that money can't brought happiness.

To me, it is like pushing the responsibility to "money" when you fail to solve something that with money (e.g. relationship). Then, you make a statement that money can't bought happiness or those bought happiness are fake one. There are bought happiness are real too. Money can't solve everything but it can solve a lot of things already which eventually bring happiness to you indirectly.

There are many ways to get happiness, "money" is definitely one of them. You can't deny that or you can't use that as an excuse that you don't want to be rich. You can live happily without a lot money and you can live even more happily with a lot of money. They don't contradict one, why should they? Rich then not happy? Walau, what a theory is that? Be rich, be happy and be healthy!

Kris said...

I agree with Champdog's view. Money may not be everything but it is something!

Maveric, you should be more active., write a blog or something. You suddenly

maveric said...

Hi CD & Kriss,

Taking EPF's dividend as an example,the truth is that the latest rate of 6.75% is a pleasant surprise but the 'happiness' feel was not as great as the past..2 to 3 years dividend announcements!

It is so probably because the excitement/happiness feel loses its impact once the required calculated targeted financial freedom 'amount' is reached.I am not sure but this concept is applicable for most things.. eg the first taste of any good food is best & it diminishes as more is taken & this is applicable to money too?!

Yes..many day-to-day decisions/activities are less restrictive as the monetary consideration is taken out giving a certain level of well being.Is this the financial freedom 'life-feel'we are striving for..?

I do know many rich professionals and business people who are definitely 'financial free' but their characters and life styles are strife by various personal emotional upheavals!

We are humans after all and our life evaluation satisfaction criteria is tough to achieve..yes/more money won't buy more happiness.

ChampDog said...

Maybe this is called greed la. We human will never easily get satisfied one. Yes, this includes almost everything not just money.

That's why those riches always have mistress lor. It gives them another level of happiness. But when it is over, they will get a new one. Still, they need to be supported by financial. So still money buying happiness here. lol!

Dave said...

Hi CD, Kriss and Maverick,

I was reading the comments here and boyh, it was pretty informative. From Maverick's post, I can see that he is a true believer of living his retirement off his EPF. Just a quick question, Maverick, have you considered to diversify part of your EPF into unit trust? Over 10 years, the distribution earned equates the invested amount. This averages a 10% return each year as compared to EPF's return of 6-7%. You may refer to the post on my site.

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