This Is How Much Money You Need if You Stop Working in Malaysia
ฝัง
- เผยแพร่เมื่อ 29 พ.ค. 2023
- One day, you will stop working. Do you ACTUALLY know how much you need to make beforehand? Let's find out together.
#malaysia #mrmoneytv #retirement #money #investing
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why am I not getting the calculator after subscribing?
i've also subscribed, but still didn't see the so called retirement calculator besides the newsletters
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
One crucial aspect of earning profits from stocks is to avoid being frightened and selling them prematurely. It is vital to understand that stocks should not be treated as mere lottery tickets. Consider acquiring the assistance of a financial advisor to navigate your investments.
Indeed! With the help of a skilled coach, my investments transformed from $321k to over $750k, largely through stocks, ETFs, and bonds. I expect housing prices to remain steady until more homes become available. It just goes to show that smart planning can make a huge difference in the world of investing.
@@mariaguerrero08Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.
"Camille Alicia Garcia" maintains an online presence. Just make a simple search for her name online.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
The last 3 years (2020,2021,2022), actual inflation in Malaysia has soared above 10% year over year while retirement income remains flat (savings growth around 5%-6% from EPF for the layman). So, actually most of us retired folks are on deficit now. When you're retired, you can't afford to put your money in risky assets.. only fixed income. In the next 20-30 years.. I'm not sure Malaysia if inflation can be lowered than what most EPF can project to earn without continue to work and contribute till we are 70s.
thats really sad, need to learn from Singapore their inflation only 3% at most
Invest in U.S. etf, i.e S&P500, QQQ,
no it wasnt lol. give sources where it said our inflation ever reached 10%. not even a country like Papua had rates that high during those years. stop pulling numbers from your ass
That aside. I think 7k per month is very high. With proper family planning. By retirement, kids already start working, house loan should be paid off. By pure monthly expenses considering one couples. I think 4-5k base on current price is more than enough. Myself at most spent about 2k per month on personal expenses, and that include petrol and toll which mostly used for work. So base on 5k per mth current. By retirement, if follow your calculator. 2.5m combine (Me + wife) is enough.
you need to account for the inflation and also the retraction of subsidies towards the T20 ( if it's happen)
You need to put other factors as well. I still remembered a couple years ago, the government messed some things up with KWSP and my dad just lost RM300K in just one day.
How about your insurance premium your are paying now? Times that with 5
After looking at the numbers I hope I die by 60
You better dun get sicked 😅
Please give a raise to your editor. Very fun and informative video.
GG. I studied all these in Uni last time but forgot everything already. Thanks for refreshing my memory. I still don’t remember anything 😂
Brother!! 😂 nvm bro u got all the cool gadgets to calculate no need maths! Haha
Your computation is ideal for T20 group. However, let's be honest. Average Malaysian household (talk about M20 group) is earning probably RM5k-RM10k pm. Yeah household (means at least 2 to contribute?). What you calculated is for 1 person? It will be more intriguing if you can work out a formula base on current M20 group in order for this group to achieve the desire computed numbers. Whether you like it or not, M20 group is shrinking post pandemic.
I think it still meets the criteria regardless of which group you are. It is just a matter of the numbers. If any fields don't relate to you, leave them blank or 0. Of course, the excel sheet cannot cover all the real scenarios including the variable rates, actual living costs, medical costs, debts, recession, etc. Still, it is sufficient for you to have a rough estimation for your retirement PLANNING.
Think poor, plan poor, stay poor
while that is true, i think 7k (16K by the age of 60) kind of make sense considering:
1. your kids will grow and have their own job eventually
2. your mortgage and cars are already paid off considering you buy them at the age of 30
3. your salary increases from age 30 to 60 allowing you to save a bit more
Of course this is all assumptions on ideal cases as is the videos, not putting into consideration health issues, economic downturn, unemployment etc and everyone's expenditure is rarely similar. calculating while considering all the variables would be very lengthy formula if he were to every possible scenario. thus i believe what he's trying to show here is a very general idea of how your retirement should look like as some sort of goals for us to achieve based on our current situation
His calculation also not valid. Who keep the same spending for the whole life. Current spending include house, car loan. Do you still pay house loan even after full settlement.
@@syhrldzkr9542 his calculation is a sample. 7000 might be too much for some people or too little. Hence whats the excel is for. And like i said, i view this as a very general idea how much you would need to save, not an absolute numbers.
IMO, many of the assumptions are wrong. Assuming that you would need 16k a month at the age of 80 is kind of simplistic. While there may be inflation, your expenses at the age of 80 is not the same as when you are 30.
The suggested retirement savings (ie result) is based on assumption. So if you think you don't need 7k, then you can put in your own "expected expenses" to see your own "expected retirement savings required".
Well done!! Thank you for sharing your knowledge. Much appreciated.
If he says anything less than 1.5 million pls unsubscribe
Fear mongering lol
@@iamloco666 How is that fear mongering? Its not even scary sia😂, well unless you're in the middle class
perfect editing as usual lmao you're hitting the right target age demography using the right delivery method when imparting crucial info :Db
Thanks for the video! It reminds me to start saving and think before spending.
Good job on this video. I have been teaching FIRE no. in usa for years now. Good to see this in the context of Malaysia.
😂 So what’s ur retirement number?? Tell us here!! Let’s get a gauge of how much Malaysians need!!😮
P.S If you've signed up for the retirement calculator, do check out the welcome email as the calculator will be at the end of the email 🤗
10 million. I need to buy my lambo 😊
Ehhh pls send me the link for the excel bro
U like that also dare to come out and teach ah ?
7k/16k post retirement. What type of retirement. Who spend that much of money when retired. Do you still pay for house, car when you retired. Do you thing the way you calculate is the correct way. I believe form the bnm report. The amount needed post retirement 500k only
This clip is very educational and real. Enjoy those funny editting too. Thanks sir
Such a high quality video, helps my short term attwntion span a lot 😂 Keep up the good work! Saved this to favourites so I can show my friends❤
Thanks to the powerful editing team!!
@@MrMoneyTV how about 30years old to 110years old supercentenarian i not yet die but beat a record in malaysia in age so how much i need retirement for 100years spending until 2008years old 3999 in year from year 1991 hahahaahaha super ahead retirement or without retirement
very good perspective🙏❤👍
Editing superb and content power
THE EDITING IS DA BOMB
lmao ur editor is definitely a gen z, great info btw!
Nice video... the math is very close to my estimates. Great content.
Videos got upgraded with explosions!🎉🎉🎉🎉
The video is good and give common people future insight on financial
🙏🏼 thank you!!
Love the editing, funny
Woah that so incredible usefull .....sooo i need yo saving
1:42 So good. I thoroughly enjoyed this part
Love the editor
After punch in the number, I need to save more than my actual monthly earning, now I need to look for another job opportunities and side business
Please give the editor a raise😂
Do not RETIRE your editor. You will REGRET it.
6:30 woah seems much simpler when you go though slowly like this 👍
Thanks for the video! Can you add a function to this calculator to help us figure out the amount of monthly savings needed to achieve the desired amount at the start of retirement.
FIRE!
Hi Mr Money, I subscribed but was unable to download the retirement calculator
No lah, at age of 70-80 you dont need 7k per month. Maybe need that much to live in a nice old folks house.
This was great guys!! Keep it up!
the more I know about this, the more I hope I die comfortably by the age of 60.
Living is tough.
With malaysian average blood sugar, blood pressure and blood cholrestore level, live to 80 is 50/50
@Peter, unfortunately, the inflation rate in key states eg: Penang, Selangor and JB are higher than the inflation rate declared by BNM on average basis.
Thus, the retirement fund needed for individuals in these states will actually be higher.
Haha so entertainment. One of the best financial education video ive been seen
I have subcribed to the newsletter but i didn't received the free retirement calculator, how should i get it? Thanks
Haha I love the throw stuff at camera part.
How about us who choose pencen for government servants? Your excel sheets forgot about us. We can still put our money into kwsp (epf) with our own choice under i-saraan.
How to use le? No pencen one...
5:14 woah so complicated 😢 Im just gonna get a rough number and round it up for safety I think
fantastic! retirement!
Hi Peter, Ive Subscribed to newsletter but still did not get the calculator. Pls help, thanks
I make things simpler. I assume inflation is 4% and my investments can get 4% returns. So if I retire in 10 years time at age 50, personally I would need 100k per year, each year only withdrawing the returns (4% return pa of RM2.5million). The monetary value would be lower by the time I am 70 but the RM2.5 million is still there. Yes the 100k per year would be less and less but still got hands and legs and hopefully not brain dead so can do some simple "passive" work or active investment to gain more than the 4% FD rate to cover the loss of purchasing power.
If you can keep saving of rm2.5mil, you are T10, or even T5 😮
Content video ni bagus. And selalu juga tengok channel ni.Tapi editing tu macam over sangat sampai tahap annoying nak tengok. Faham nak buat editing yg lawak tapi ni macam setiap 10 saat dah letak meme. Harap editor faham gak.
Terima kasih!
May i ask something sir, about savings, what platform should I use to save my money instead?
Subscribed to your newsletter but didn't get the retirement calculator sheet
I love the bull throw 🤣 0:21 reminds me of my mom calling me stupid 😂
Not getting the excel file even after subscribing to newsletter and confirming email. Team at Mr money TV, could you please solve it?
Instead , just buy total 1.6mil sum of property? That give 5.5% rental rate. Earn about 7.3k per month. That properties will rise with inflation and the rent will rise with it too.
🤔
Dont worry, when 50 years old you need 7000. By 60 you need only 6000 and by time 70, 5000 is enough. When you 80 you only need food n water
The question is how many Malaysian with this current state of living, will able to save up this amount of money😢
There are many factors to consider. Like how did you start ? Meaning, were your parents well off, do they have a business ? If you are born with that kind of money, your financial journey will probably be smooth especially if your parents have planned for your future financially. Just probably because there is no assurance in a worldly life. Another point is when you start working, you should have the habit of saving. You cannot take it for granted that life is smooth sailing in terms of your financial status. Then the location you are in. You do not have to spend that much if you are in a village as compared to living in a city. There are many advices given. The one person that can help you financially is you yourself.
Anyone manage to download the excel file? I went to the website and subscribed, yet not able to locate the file to download.
May I assume your calculations is based on, by the time we RIP, the savings and investments are still intact for the next of kin?
If one do not plan or need to pass on their wealth, they can start using their savings in the later years.
We are a greying nation. Pity the relatively smaller upcoming generations who to bear the burden of sustaining the ever increasing pool of retirees.
The biggest question is where should we put our money? What kind of investments?
Tiu hai lor, Pokai I was just having jolly good long break till reality hit me.
Nice video…would like to see more content and education about retirement!
what does replacement method in the calculator means?
So if i have RM3.5millions right now, i can retire?
wa bro, your video quality siao eh
I almost come *moonface*
BABI LA WHO’S THE EDTOR 😂 keep it up ma man
am i wrong if i say i prefer to work until i die if god allows ? i enjoy the company of colleagues, discussing work and life related conversation.
Ive hit the 3million, retiring early. One life
Why there no investment return from now until the day we retire?
I already have 6.2 M. Can I retire now?
But I'm only 40.
Even you have 1 to 2 millions you need to work to cover daily expenses but at least a comfortable life with less worries.....
RETIREMENT (*please teach us how to use this calculator :'D) tqvm
I had subscribed to your & steps money- It Right Framework but still didn get the excel calculator for retirement funds calculator excel spreadsheet.
How can i get access to the retirement fund excel calculator spreadsheet?
Hi it’s in the the welcome letter :) there’s a link inside the welcome letter ready for ur download
Age 30 with an income of 7k..seriously stupid example..u should calculate on and average salary in Malaysia that makes sense..
Just keep saving from now... For me invest in zero risk capital... Don't worry too much abt future anything can happen... But i agree still have to plan
Mr money, can share how to get retirement calculator
The retirement calculator sheet formula are locked , can’t relate how you come out with the amount 😅
The link to download the template doesn’t work even after you subscribe - it could be a click bait .. be warned
Hi, the download link is in the welcome letter. If it still doesn’t work please send us an email.
me who only salary 1000 a month watching the number needed if i need retire..
Subscribed to the channel, followed the link in the email, subscribed to the bulletins, gave email etc. How long before I get the link to the excel file? Seems to be many people asking the same question.
Hi! The download link is in the welcome letter after u subscribed to the newsletter :)
Subscribed again with a different email, and have now recieved a different email from you which has the link. Looking forwards to having a play with it. :)
How do I get the free excel calculator?
i would say that this financial crisis is so worst (i.e interest capital amount can't be tolerated anymore) that all of the fiat financial institution will collapse and new kind of financial institution will emerge.
Hey bro.... Perhaps cut down / reduce the memes /comedic cut scenes. We just wanna focus on your actual points.😊
I subscribed to your newletter but still didnt get the calculator. Disappointed
How about a calculator on how much u need to save and invest now to achieve your retirement savings target?
i have that.
Looking at life from monetary aspect with calculation. This calculation is based on simple math which excludes all kinds of odds. Miseries such job loss, damages/loss to property, social unrest, falling sick are not accounted. Life is not as simple as math calculation. Stop counting the numbers and live life as it unfolds. You will happier and also, make your dependents happy which is much more rewarding instead of counting cash every night.
Is there someone already download the spreadsheet? Not sure if i using it wrong or there is some fraud in the formula...
Anyway, good content, maybe in next video Mr Money can explain in details all of the column
Eg. The expected EPF capital when retirement for a salary of 6k at age 30, will be 5m+, which in my other calculation is jz 1.5m-2m
Then by this, the saving and investment required is all negative
how can i download free retirement calculator
this is just to calculate how much we need. how to calculate if we are on track or not?
U know how much u need
U know how much u have
You'll know if you are on track
Singapore median income is now 18.4k RM
I think the best investment is to work in Singapore where by forex alone it’s virtually 343% returns. I seriously cannot find another investment with similar ROI. This will allow for building up of investment funds in the most productive years from 30 to 50. Then retirement back home will be very comfortable.
subs dy...calculator where?
I am 60 yrs old now. I have less than what you have estimated. I guess I am a gone case 😢
Retirement!
So if u say like this, who in Malaysia can afford to retire?
In other words....cannot retire or work till one drops dead.
honestly the numbers varries a lot 7k is a lot unless u have house loan car loan and kids but by that time retirement u dont need all this debt.its about spending habits
my opinion is try to get net worth zero by 30 to 40 then invest some money then u should be fine
Go overseas, earn their currency. Retired at Malaysia.
Is this aimed at T20? Because middle Malaysia won't be able to retire comfortably.
yes...most malaysians actually need to work until the day they die
That’s why many people still working after 60 or 70 age.. because not all people can retire comfortably
You missed out ringgit depreciation.
30 years ago my grandma retired as a nurse with a 1000rm per month..😂😂..now the same nurse retire with 4k rm a month pension...still not enough 😂😂
what about medical expenses as well bro lol
Susa juga nak komen. Kelemahan Malaysia masih terlalu rely dgn pendapatan dari industri sawit dan petroleum yg terdedah kepada price volatile. Pasal tu ringgit lemah. Tambah lagi US naikkan intrest rate. Byk potensi untuk selamatkan ringgit. Daripada bergantung dgn sawit, baik rakyat dan glc yg mengusaha sawit beralih ke production pertanian yg paling kita deficit iaitu beras dan dairy beef supaya kita boleh kurangkan ketergantungan import dgn thailand dan NZ. Daripada oil and gas company sibuk jual minyak dan gas, alangkah baik tingkatkan pelaburan dalam renewable fuels biogas dari sisa kumbahan dan biodiesel dari sawit. Ataupun TNB mulai kurangkan guna arang dan gas dan gantikan dgn renewable energy mcm solar, wind, hydro semua. Malaysia ada potensi utk fully ganti solar. Bayangkan seluruh rumah dan bangunan di Malaysia gunakan solar dan TNB bole harvest electric ni dan kumpulkan supply electric utk distribute utk kegunaan ekonomi yg lebih produktif seperti kilang² perindustrian. Kita punya produk perindustrian pun eloklah diversify. Cuba usaha tembuskan produk f&b kita sampai ke negara maju. Yg rakyat Malaysia ada bakat dlm innovation kerajaan kena bantu bagi insentif, tolong patenkan inovasi atas nama penemu supaya rakyat yg bijak pandai dlm engineering bersemangat nak majukan teknologi negara sendiri, dan bantu la dari segi kewangan bagi innovator² malaysia. Kita boleh maju kalau kita fokus di renewable energy, food self sufficiency, ecotourism, teknologi . Bila kita sudah maju dan kaya it doesnt matter anymore kalau ringgit tu rendah dari usd