How can I retire as a millionaire?
To help you visualize things better, we provided a table based on the average EPF savings of all members in each age group.
The calculations include the mandatory contributions from you and your employer.
So, to hit RM1 mil by 55, you would only need to top up the difference.
Assuming that EPF pays 5% pa, you’ll receive RM50,000 in dividends every year, or RM4166.67 per month.
That’s more than enough to live in major cities today.
But in the next 20-30 years, RM1 million may just be the minimum required to survive.
It gets exponentially more difficult to hit RM1 million as we age.
This is because the power of compounding works with time, giving those who start earlier a much greater advantage.
So start saving as soon as possible, as much as possible.

“But EPF locks my funds until 55, how?”
You can opt for more flexible investment options.
For youngsters, use your time to explore higher-risk investments (ETFs, unit trusts, stocks, etc).
This is because the low-risk part has already been covered by EPF.

If you’re older, you may require a mix of low-medium risk options (fixed deposits, gold, ASB/ASM, dividend stocks, etc).
But everyone’s financial circumstances are different.
So be sure to assess your own risk profile before investing.

To achieve your goals faster:
• Pay yourself at the start of each month.
• Save whatever you can, upgrade less.
• Upskill yourself to increase your income.
• Contribute more to your investments as your salary increases or whenever you receive bonuses.

Speaking of growing your savings, you may be interested in:
thefuturizts.beehiiv.com