Your Financial Confidence Booster! 🇲🇾
Retirement corpus is basically your "chill fund" - the money you need to have saved up so you can live comfortably without working! Think of it as your ticket to freedom where you can lepak at the beach instead of rushing to work every morning.
In Malaysia, with our amazing food and lifestyle, you'll want to make sure you have enough to enjoy your teh tarik and roti canai without worrying about money! 🍜
The EPF RIA Framework is Malaysia's new retirement savings benchmark launched in 2024. It provides three tiers of retirement readiness to help you understand exactly how much you need to save for a comfortable retirement in Malaysia.
This framework replaces the old RM240,000 benchmark with a more comprehensive three-tier system based on real Malaysian living costs! 🇲🇾
RM390,000
Essential retirement needs
RM650,000
Reasonable living standard
RM1.3 Million
Financial independence & higher quality life
Amortization is just a fancy word for "how your loan payments work over time." Every month, part of your payment goes to interest (the bank's profit) and part goes to paying down the actual loan amount.
In Malaysia, most home loans have reducing balance interest - meaning as you pay more, the interest gets smaller. It's like eating a kuih layer by layer! 🧁