1 hr 27 min
F0122: EPF Account 3 - Good or Bad?? (With Financial Experts Hann and Sani) The Futurizts Podcast
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- Investing
On 25 April, EPF officially announced Account 3, which is a new Account that will receive 10% of your monthly contributions.
This account will allow members to withdraw the balance any time, and EPF said this was to replace targeted withdrawals.
Old structure:
70% Account 1 (cannot be withdrawn until 55).30% Account 2 (can be withdrawn early to pay for education, housing loan, and healthcare).
New structure:
75% Account 1.15% Account 2.10% Account 3 (can be withdrawn any time).
Along with financial experts Hann and Sani, we discussed the pros and cons of this move, plus tips on how to grow your retirement savings.
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Timestamps:
(00:02:52) Thoughts on Account 3? Yay or Nay?
(00:11:30) Could Acc 3 be the number 1 place to store emergency savings?
(00:14:55) Differences between Malaysia's EPF and Singapore's CPF
(00:26:19) Impacts of Acc 3 on EPF's future returns
(00:35:28) How will voluntary contributions be distributed?
(00:38:14) Will inflation rise due to Account 3?
(00:42:45) What's going to happen to the ringgit?
(00:44:27) Should I withdraw from Acc 3 to invest elsewhere?
(00:50:55) Why you should not withdraw from Acc 3 to splurge
(00:59:09) Let's talk about the wealth inequality
(01:08:47) How can we as citizens increase our retirement savings?
(01:19:15) QnA
Hann is a personal finance expert with over a decade of experience in the financial industry. Previously the CEO of RinggitPlus, he is qualified as a licensed financial planner (CFP) and a chartered financial analyst (CFA), and has helped tens of thousands of Malaysians on their path toward financial literacy. Hann is currently the founder of Halogen Capital, the world's first Shariah-compliant crypto fund that provides institutional exposure to Bitcoin.
Our other speaker, Mr. Sani Hamid, is an economist and certified financial planner (CFA). He’s a frequent commentator in the media and has over 30 years of experience in the financial markets, having worked for companies such as S&P Ratings as a Director in the sovereign team overseeing the ratings of countries such as Indonesia, India, Malaysia, and Singapore.
Hann’s socials: https://twitter.com/ooihann
Sani’s socials: https://twitter.com/sanihamid
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✅ 164 people have joined, and only 2 unsubscribed (so far).
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--------------
DISCLAIMER: The information contained in this podcast is for informational and educational purposes only. Nothing herein shall be construed as financial, legal, or tax advice. The opinions expressed in this podcast are solely those of the speakers.
On 25 April, EPF officially announced Account 3, which is a new Account that will receive 10% of your monthly contributions.
This account will allow members to withdraw the balance any time, and EPF said this was to replace targeted withdrawals.
Old structure:
70% Account 1 (cannot be withdrawn until 55).30% Account 2 (can be withdrawn early to pay for education, housing loan, and healthcare).
New structure:
75% Account 1.15% Account 2.10% Account 3 (can be withdrawn any time).
Along with financial experts Hann and Sani, we discussed the pros and cons of this move, plus tips on how to grow your retirement savings.
--------------
Timestamps:
(00:02:52) Thoughts on Account 3? Yay or Nay?
(00:11:30) Could Acc 3 be the number 1 place to store emergency savings?
(00:14:55) Differences between Malaysia's EPF and Singapore's CPF
(00:26:19) Impacts of Acc 3 on EPF's future returns
(00:35:28) How will voluntary contributions be distributed?
(00:38:14) Will inflation rise due to Account 3?
(00:42:45) What's going to happen to the ringgit?
(00:44:27) Should I withdraw from Acc 3 to invest elsewhere?
(00:50:55) Why you should not withdraw from Acc 3 to splurge
(00:59:09) Let's talk about the wealth inequality
(01:08:47) How can we as citizens increase our retirement savings?
(01:19:15) QnA
Hann is a personal finance expert with over a decade of experience in the financial industry. Previously the CEO of RinggitPlus, he is qualified as a licensed financial planner (CFP) and a chartered financial analyst (CFA), and has helped tens of thousands of Malaysians on their path toward financial literacy. Hann is currently the founder of Halogen Capital, the world's first Shariah-compliant crypto fund that provides institutional exposure to Bitcoin.
Our other speaker, Mr. Sani Hamid, is an economist and certified financial planner (CFA). He’s a frequent commentator in the media and has over 30 years of experience in the financial markets, having worked for companies such as S&P Ratings as a Director in the sovereign team overseeing the ratings of countries such as Indonesia, India, Malaysia, and Singapore.
Hann’s socials: https://twitter.com/ooihann
Sani’s socials: https://twitter.com/sanihamid
--------------
Your time is valuable and you hate sifting through the web for information.
We get it, so let us do the work for you.
By joining our WhatsApp group, you’ll receive financial updates - best FD rates, currency movements, and more on a daily basis.
✅ 164 people have joined, and only 2 unsubscribed (so far).
✅ We don’t spam.
✅ It’s $0.25/week.
✅ Pay monthly, cancel anytime.
Try the First Week for Free: https://www.patreon.com/TheFuturizts
--------------
DISCLAIMER: The information contained in this podcast is for informational and educational purposes only. Nothing herein shall be construed as financial, legal, or tax advice. The opinions expressed in this podcast are solely those of the speakers.
1 hr 27 min