EPF’s Nurhisham Hussein - Malaysia’s Retirement Crisis Is Already Upon Us

[@DoMoreTakeChargeofYourLife]

Dear all, just a short note once again to thank you for giving me and Hisham your time; as always, my guests and I always hope to be able to inform and inspire people so that we can all improve, even in small doses, our world and our lives. I’d also like to apologise for the poor audio quality. They occurred by accident and persisted for a few episodes, including this one with Hisham and myself. Thankfully, in more recent recordings the audio quality has since been vastly improved. Thanks again and take care. Carpe Diem!

[@Tenelia]

some audio tips: - set to mono and not stereo audio in future. - use some amount of dynamic compression to keep the audio levels constant for ease of listening. there are 2 problems here... it's too soft and levels varies too much.

[@JustJamesDean]

in spite of 45% marginal income tax in Australia, govt services are a joke, an absolute joke. Tax dollars are wasted left right and centre. Malaysia's pay as you go system is 10x better

[@khoohsuchuang]

@@Tenelia actually the problem was both audio inputs were inserted into the same camera, rather than into a separate mixer. This made editing nearly impossible. Plus, audio from both inputs were audible on the main file. The softness and levels came from the cleanup process because the base file was already very poor. But thanks for the feedback. Valuable lessons were learnt!

[@leealex24]

Yes, people need to save and safely invest more. Did you know in the 90's, Malaysia Savings Rate was 35%, among the highest in Asia?

[@ahmadmustakhimabdmutalib59]

My account1 was reduced, someone inside it a goodtheif😢

[@HazimAlkhulud]

Young people need to watch this please spread this to your friends and families Start to invest now - save money no need to go to concerts, have financial literacy

[@zot2698]

but that would just make Malaysia's economy go down. people need to spend. Also, as sound as it is...saving your money in the banks is now high risk especially due to high inflation - see Lebanon or other country with high inflation rate. Their life-saving basically becomes nothing. Its a vicious cycle, save your money and dont spend, leads to lower economy, which leads to a lower value for the currency, when the currency goes down...so does the value of your savings.

[@xingzheng9664]

Is spending sustainable?

[@mars1pluto]

Balance - saving n spending both wisely 😊

[@leealex24]

Yes, people need to save and safely invest more. Did you know in the 90's, Malaysia Savings Rate was 35%, among the highest in Asia?

[@kimchiba4570]

Love this Malaysian EPF executive ..very intelligent.

[@readyforknowing3009]

Thank goodness at least someone in Malaysia is 🤲

[@effuan]

Could we possibly arrange more sessions with Mr. Hisham? My only concern is that this session is incredibly valuable for our English-speaking audience, whereas it's the Malay-speaking audience who would benefit the most from this knowledge.

[@pussybell2883]

I ALSO GO TO HEAVEN CAN COMMENT..DEAR DONKEY ...HELP FELLOW CONTRIBUTERS RIGHTS HE SHOULD DEFFEND LIKE A DEVIL..NOT LET GO THAN SAY FU.....KED UP STORIES..! TICKLING YOU IS IT..!

[@christopherk7920]

At one point before 2010, I decided to increase my personal contribution to about 25% and it went on for a good 4 yrs before reverting back to the minimum (I think it was 11%). Good to see that the short term sacrifice has resulted in a healthy sum in my account despite the weakening ringgit

[@taneskumar3653]

Thank you for the idea sir.

[@christopherk7920]

@@taneskumar3653I heard EPF's investment arm made pretty good money this yr. So I expect the dividend this yr (paid in 2024) will be good.

[@emedlearning9035]

nice idea

[@walauahahaha]

Wait, u can increase EPF contribution to 25%? I thought the maximum contribution rate is only 13%, or maybe just my company thing

[@christopherk7920]

@@walauahahaha I am unsure what's the policy now but back then, minimum for employee contribution was 11%. With the 100K max for self contribution currently, this route seems more hassle free.

[@jonathangui9763]

Please start teaching our children about finance in malaysia especially in primary and secondary schools. Start slow and progress with more material on saving money in primary school, how to spend wisely and how to allocate money for different purposes. In secondary school we can push financial study, investments, entrepreneurship, skills to read profit & loss reports (simple financial reports), scams, and money management in secondary school

[@lukeh3020]

Watching as a Brit living in Singapore, it's striking how the same issues (lack of literacy, currency depreciation, lack of retirement planning, real wage cuts) are prevalent in many different countries. Thank you for the great discussion.

[@finding_aether]

Well, europeans and american printing money to fund their wars. Not helping😅

[@bluedragontoybash2463]

it is a world wide phenomenon. Every country have problem with their retirement plan

[@silverianjannvs5315]

😂 despite violent protests for 13 days, French government did raise the age retirement from 62 to 64...

[@paultan4240]

Amazing interview. Mr Hisham is so knowledgable and great questions...❤ from Singapore

[@fababubakar9047]

Ensuring the best interests of the depositers is such a noble cause by EPF. Please educate Malaysian children to be financially savvy. Introduce all the products available when they reach 18 years old.

[@dgdfgbhjgdm]

Satu perkara ialah sejak sekian lama kerajaan dan pembangkang menunjukkan ilusi pembangunan. Masih tidak dapat mengenali pelakon! Tiada kerajaan telah melakukan apa yang perlu. Buat parti pembangkang langsung.

[@wolger]

This is the responsibility of parents.

[@hxsm8090]

@@dgdfgbhjgdm ilusi pembangunan? pembangunan bergantung pada income rakyat. pembangunan yg lambat datang dari rakyat yg bodoh. duit kita tanggungjawab kita. covid pun nak keluar sampai 30 ribu, dah nampak bagaimana bodohnya rakyat kita.

[@mars1pluto]

Agree but At 18 they might not know how to do so. Financial literacy must be taught in uni, college and maybe secondary schools.

[@alexlee1973]

Thank God we have competent people like Nurhisham looking after and managing our EPF money.

[@marktn9851]

Noticed how the right question is been asked and giving its guest the space needed for answers. Looking forward to more follow ups to this discussion with more specific focus. Great works!

[@HuiyingKoh]

Really enjoyed this episode and learned so much. Hope that there’ll be more interviews with En. Hisham or more policy makers.

[@daedra40]

Same here!

[@rockyshet]

I watched this interview because I heard from the interviewee on BFM this morning. Honestly speaking, I much prefer this long form interview when it’s done right like what is done by Chuang. A lot of nuances can be lost when we’re diving into these difficult and complex topics.

[@TerenceTHNg]

Get into to the bottom of issues and what are the solutions. If EPF savings is inadequate for old age retirement, increase the present rate by 5 % either way by employee and employer is the solution.Too much story telling by EPF representative not relevant to core issues. Make it short and brief .

[@thebugbud]

As Malaysian, out top line is declining, and bottom line is increasing. We spent to much time measuring GDP as our top line, unfortunately, GDP encapsulate both productivity and consumptions. The sad thing is, the consumptions are increasing (and also spent by borrowing) while the true productivity is declining. We need seriously relook at the root cause, why is that so. Quality of our workforce, lack of skill knowledge workers, inconducive environment to nurture great future workforce, red tapes, nationalism, protectionism and etc etc. Take a good example, we lost Grab to Singapore... even though it's homegrown. We need to really do proper self reflection. Out bottom line is worse than the toilet bin. Our efficient use of funds, corruptions, slackers, i wait for you, you wait for me, no sense of urgency culture..... all this increases overall cost of doing business and hence, translating to goods prices. We spent too much, I mean, too much of quick wins, such as subsidies, handouts and all to pacify the general public. All in all, it did not do any good to the country but, at least, the political party will get to keep their place. We didn't spend enough in good quality educations to bring our nation to be more mature and able to weather storm better. We have instead nurtured massive population to be highly dependent on government for assistance and a society that can be preyed by the politicians to their own benefits. I love my country and I hate to see the way it deteriorated to such point of fragmentation. What a waste to what our forefather left for us and we drove it to the ground.

[@julianng1362]

Hisham is always insightful and entertaining. Thanks Chuang

[@awkh21]

Great topic of discussion. Apart from just EFP deduction on a monthly basis from our jobs, we should also at least do more with a voluntary contribution whenever we can every year. EPF has just up their voluntary contribution from RM60k to RM100k in June this year and I personally think it's a good move.

[@dgdfgbhjgdm]

Orang Benggali dan beberapa orang Kerala telah dibawa, Dapatkan wang yang dipanggil selamat bersara..

[@Rayang4ver]

Since June 2023?

[@awkh21]

@@Rayang4ver yes

[@mars1pluto]

Or alternative (safe) savings options

[@aerithofmyore]

Financial literacy is big problem. I only knew of compound interest when I was 18 taking my diploma and attended business math class...

[@michaele4830]

In my 70s, i regret not saving especially in EPF. Worst of all, we went along with Mahathir to demand early release from CPF. Luckily for me, SG sticked to the rules

[@cstchua8]

I enjoyed this particular episode very much, your guest Mr Nurhisham Hussein is a very knowledgeable and intelligent person who knows what he’s talking about. I am very happy for all Malaysians that he is working in the government. The topics covered in this interview are all significant to everyone in the country. I do hope many people watch this episode. Thank You for sharing 🙏!

[@luipohlin4147]

Just a suggestion, EPF can encourage or introduce saving program to School children from age of 10 up to age of 18 or 24. Once they start to work, they can convert this account as their employee/ employer EPF and continue to contribute.

[@bc44785]

Actually you can open EPF acc at the age of 14

[@mars1pluto]

EPF is for workers. For children there is e.g. Savings account to save $$$ from infant hood (of course parents help to open the account)

[@musico3415]

Singapore gov allow children from birth to open child development account (CDA). The fund can be used for education and any balance becomes part of cpf account at the age of 21.

[@MK-dt9jm]

Did not expect to hear about early childhood development from a retirement fund person. Second time listening to Hisham. Clearly, he takes a holistic view of a complex issue.

[@taufiqhasan8044]

more session with Hisham please...very insightful and informative !

[@DoMoreTakeChargeofYourLife]

On it!

[@lstan4573]

Thoroughly enjoyed this interview. Well done, both erudite and articulate men !

[@nafis.mfairus]

One thing I'm listening over and over again in this podcast is EDUCATION

[@DoMoreTakeChargeofYourLife]

hi Nafis The other key takeaway is that everyone must also take responsibility for their retirement. We no longer live in an era where our EPF savings is enough for our old age nor should we expect the govt to meet our every need.

[@Sayonara301]

The problem is....when you save money in government trust fund such as ASB, Tabung Haji, EPF ect, the previous government 'stole' and control the yield for investors. If Bank Negara lost in forex or other stupid political investment, they will cover loss by using the peoples' saving.

[@serenewong-gc3jt]

Very interesting and sound financial advice....thanks Nurhisham for the good job that you are doing in looking after our retirement funds. More of these nature of relatable interviews please Chuang.

[@greatthankstomother]

EPF is under the control of MOF Inc, which is control by Finance minister. This is an issue of trust when we have cases like 1MDB with previous PM

[@serenewong-gc3jt]

Indeed that's the main problem that we can't even trust our own government....sadly

[@muralisandrakasan3707]

What the hell are u talking about???

[@mrkacang7277]

On top of that, Najib gave away our EPF monies for US investments during Trump administration, of course the real motive of the investment is to cover his 1MDB scandals. Then you have Abah Muhyiddin who gave the green light for the rakyats to clean sweep their hard earned pension monies on a single event. Malaysians are unlucky and cursed to have such leaders in office

[@winterwolf1]

Choose your leaders carefully and intelligently....a simple task that had failed for so many decades.

[@mars1pluto]

Ohhhhh politics

[@clementihammock7572]

Middle-income trap, decades old Gov poor budgeting, extreme weather plus global fierce competition, it will be a total nightmare.

[@iszammajid1800]

This channel is so underrated.

[@DoMoreTakeChargeofYourLife]

Thank you so much Iszam :-)))

[@SkitHertz]

Holy crap the comment section is giving me a headache, and this isn't even Facebook. Always been a fan of Hisham and his blog, rarely come across policy makers talk so eloquently about complicated and nuanced issues at length, much to think about (though chances are, people that would sit through this podcast are the ones that are financially better off)

[@Funorigamikid]

Chuang, you smashed it out of the park again. Excellent topic I have listened to all your interviews on this channel. Keep up the good work.

[@DoMoreTakeChargeofYourLife]

Thanks so much Jenny :-)))

[@TerenceTHNg]

He articulates his points well and ask good questions.

[@ongth601]

He is going easy on the epf guy L

[@Funorigamikid]

@@ongth601 During interviews one should have common courtesy, can't expect Chuang to go all guns blazing

[@AnoniWis]

Thank you Nurhisam !. Lots of tips and info regarding the reality. Damn, I'm 28 and already feel the heat. :')

[@ssmtmobile3883]

I as Sporean like this talk is good sorry again if those rakyat know n understand about epf it will be good for the retirement for us our cpf and retirement and also our medisave have already put aside for our retirement and raining day.Tq to our Host and Mr Nurhisham

[@yeowchongong5608]

Self discipline is the key. Make yourself always feel u don’t have enough then u will safe.

[@devious17]

I can only summarize the sharing from Nurhisham as 'Grim and Bleak', Say thank you to the politicians and the unthinking layer of the community. Man power will be in the unskilled bracket as the direct outcome of low educational and aptitude quality, FDI decision will be influenced due to this. Malaysia missed the opportunity to manage subsidy back in the 80's, to implement targeted subsidy now would be disastrous. Good intellectual discussion though.

[@thehummingbird3660]

Very insightful! Thank you.

[@zuhairisapudin5429]

An insightful session to deliberately consider all the keynotes. Wonderful having both of you discussing on this matter to open up about retirement for the millennial & young generation.

[@patrickyong1501]

Just discovered your channel, interesting and insightful at the same time. Liked and subscribed.

[@shortyshortshots]

love how realistic the conversation is. great discussion. more of this pls.

[@JL-sw3sb]

I'm a Singaporean living in Singapore. Singapore is using old money and borrowing money too. To cover the loss caused by covid, the state increased GST and let property skyrocket to the point that we are higher than HK. Baby boomers' are delayed year after year, and we all have accepted our fate that we will not see our CPF in our lifetime. In Malaysia, the state sacrifice for the people. In Singapore, the people sacrifice for the state.

[@harisadu8998]

Property for sale in SG is not more expensive than HK even today. But rental costs are now around 10% lower than HK only. May even be around even very soon.

[@hansontan6025]

Come migrate and live with us in Malaysia ... our government will take care of you

[@whitesteelangle156]

The government delay the cpf payout from age 55 to 65 which the citizens received montly

[@ccommekdgak]

*Sacrifice for the Lee family and their friends 🤣

[@willc7861]

Finally someone wakes up from the illusion of sg heaven

[@yauyh88]

Savings will never be enough when salaries are so low in Malaysia. People are piling up high interest debt when EPF deductions are made from their salary and getting low returns on EPF savings. From a balance sheet point of view, it is a financial disaster. The only solution is to increase income, then only can you have more to save.

[@RaulSelva]

To increase income, people would need to move to sectors that benefit from rampant central bank money creations (eg investment banks), sectors that get government largesse or, high-tech sectors (not many, including myself, have the brain power for this). Either the above or work 2 or more jobs for the extra moolah (which is what more and more in the West are doing).

[@tripleshrimp718]

Would love to hear more from Encik Nurhisham!

[@TerenceTHNg]

What are his strategies to over come the problems in a fast aging population of Malaysia? many will retire with just 50 -60 thousand ringgit to last them for 55 to 75 years if he lives another 20 years. Think of rising inflation and medical costs.many will end up sleeping on the streets.

[@crx6929]

I think pensions need to be brought back. I see some elderly people who are still around living on pensions pretty comfortably. Even their widows are taken care off. Corporate greed is getting out of hand and governments are not doing enough to take care of the workers interest these days.

[@mars1pluto]

Look at Japan and their problems with the ageing population.

[@yewchoongsaw6774]

The tag line says it all - take charge of YOUR LIFE. The only person that you can 100% depend on is YOURSELF. Don't wait for the perfect education system or healthcare system or government policy. Start taking charge as an adult.

[@DoMoreTakeChargeofYourLife]

Glad you said it. It's a malaise of modern society that people have of their volition (!) chosen to outsource some of the most important aspects of their existences, including a. child care, b. retirement c. healthcare and d. personal development. Not good.

[@anastasiamamis6441]

I have seen my relatives make good use of their EPF i e purchase exp car, doing hse repairs works ect..just hopefully they have enough to survive when they retires.

[@drbilltay]

Nurhisham got good experience and info. Very informative.

[@willc7861]

I am so glad we have sound & competent people helming the epf ❤

[@MrGoldGrower]

we need to work together for freedom from financial illiteracy - these knowledge should be free and accessible to everyone

[@Lena-cl6ye]

So true. Wish there was better financial literacy in the country. I think it should be mandatory in school or the workplace. I was lucky to have discovered financial gurus like Dave Ramsey etc in my early 30s, which set me on a path, however most Malaysians are blissfully unaware and suddenly panic when they reach their 50s and realise they don't have enough in EPF for retirement. Especially those that happily dipped into EPF along the way. FOMO and keeping up with the Joneses is really messing up the finances of our middle class.

[@thebigsfarm]

very productive sort of topic and epf need more such expertise

[@UdellYoutube]

Unequivocally, it's interesting. Unquestionably, worth of my attention. Nonetheless, well done gentlement! Respectfully, thank you.

[@elizabethoileng435]

Thank you for sharing your thoughts and views, very informative and helpful. Young people should gain insights from this interview for their financial planning and sustainability for their not too distant future🤑

[@clementchinsterer]

In my life long working career. I discovered some employers I worked for failed to contribute my EPF ......Even I reported some cases to EPF officer. Nothing done to employers who owe me my contributation.

[@mars1pluto]

In my case the KWSP helped by warning my employer to pay staff when 2 people incl me made valid complaints to KWSP. Thank you, KWSP.

[@singforwe]

Informative,and Sound quality can be improved.

[@muhd7144]

While the title is about retirement, the video articulately discusses a range of cognate issues - excellent. PS: I can't agree with a number of comments that say the video sound being too low and somewhat inaudible. I think it's just fine.

[@colindant3410]

It would be helpful of the volume was a bit higher.

[@banchuanteo3273]

As usual sir.. Good talk.....

[@DoMoreTakeChargeofYourLife]

Thank you Mr Teo Chuang xx

[@jeremiahliang8273]

There is huge difference between a legal economic unfairness vs an illegal economic injustice. No matter how you taint or gaslight this difference with racial or religious overtones, it will be a big moral and political mistake to not understand this. The marurity of a nation is at stake when we confuse our youth with these issues.

[@Richard_H_U]

Great conversation.... should be wake-up call for politicians still clamoring for EPF withdrawals just to ease the immediate difficulties! Scary prospects.... savings of RM500,000 to RM1million just to be able to retire!

[@bennyng2414]

There has to be financial education in school. Teach the concept of earn, save n invest. Delayed gratification is very important

[@justinkuek7777]

very agreed with the comment from this vid discussion

[@rethnajaga2034]

If i am right, epf had reduced employer's contribution after 60 years to those who were still working. It was around 5% or 3%. Employer's contribution should remain same till retirement per salary bracket.

[@livedtea4363]

Nice work. Could you record with louder voice? I am at 90% volume....

[@rheh2570]

an insightful conversation which is based on info and knowledge plus understanding of what's going on. it's difficult for younger gen to understand this and not look at external factor such as parents for safety net. plus Malaysian shouldn't be fixated on the SGD-MYR exchange rate and complain.

[@crx6929]

Another cost that the elderly will need to factor in for the future is maintenance cost. People are increasingly living in condos or gated guarded communities and the maintenance of these properties will last forever, even if you finish paying for your property. These maintenance fees are also getting higher and higher.

[@norin1613]

This is so true !

[@mars1pluto]

My parent live on landed property there's still maintenance such as the gardener every month if not the grass grows too long, house repairs etc. The only difference is from e.g. condo you can choose who and how much you want to pay for the necessary maintenance to have a livable house.

[@johannazulkifli4]

Love this conversation. Very interesting and insightful! We need more of this kinda convo

[@DoMoreTakeChargeofYourLife]

Hi Johanna! Thanks for the nice comment. Yes me too. Issues which touch the heart and spoken with candour and credibility is the goal. Chuang

[@ryanwilliams989]

My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

[@StellaMaris-lv2uq]

It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.

[@maryHenokNft]

Considering the increased complexity since the 2008 crash and COVID, I suggest diversifying your financial portfolio. I hired an advisor and successfully grew my portfolio by over $150K during this turbulent market using defensive strategies that protect and profit from market fluctuations.

[@maggysterling33254]

@@maryHenokNft Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.

[@maryHenokNft]

Much credit goes to *Camille Alicia Garcia* for her significant contributions. She maintains an online presence, making it easy to locate her. While other advisors might pose challenges to find, Julia has proven to be an excellent mentor throughout the year.

[@StellaMaris-lv2uq]

I appreciate the information. I did my own research, and your advisor seems to possess a great deal of expertise and knowledge. I've reached out to her via email and scheduled a phone call. I'm impressed by her expertise, and I'm looking forward to our discussion.

[@albertkoay1016]

It is good to teach our children to play monopoly when they are 4 yrs old and above. They will learn investment strategies and the value of money.

[@TerenceTHNg]

The Education Dept should embark on teaching soft skills to school children on the importance of saving and basic financial planning

[@ishi0102]

Well done. Excellent conversation.

[@TerenceTHNg]

One way is to enforce compulsory savings for employees for old age retirement is to increase the present rate of contribution. The present rate of about 20 % is definitely insufficient saving for old age due to rising inflation on food prices and medical treatment. A rate of 15% and another 20% by employer will help to increase a members credit to tide him after retirement. The rate of contribution in Singapore is much higher.Also, they have a medic care system for workers. The employee pay a small percentage deducted against his salary. When he is sick, he gets free treatment at approved clinics. Looking at the EPF credit balances of most EPF members of about 50 to 60 thousand ringgit, How are they going to sustain themselves upon retirement at 55 years assuming if he lives another 20 years after retirement in view of rising inflation on everything.Malaysia has a growing old age population. The present EPF system is not encompassing as an old age retirement fund. Much more can be done.

[@dinsilkhannaz7696]

Why we save and invest money if the value is constantly diminished? Its a stupid move... the retirement saving is a mega ponzi pak man telo scheme... Save physical gold and produce lots of children may help u during retirement age

[@mars1pluto]

Most people won't agree with it. They just want their $$$$ now - instant gratification.

[@leealex24]

Yes, people need to save and safely invest more. Did you know in the 90's, Malaysia Savings Rate was 35%, among the highest in Asia?

[@azizihazim7]

Love the interview however the sound system needs to be improved..cannot hear clearly the interview

[@DoMoreTakeChargeofYourLife]

Many apologies Aziz It's since been rectified on newer episodes though ..

[@TerenceTHNg]

I am not the only one to think the audio system is poor.

[@mars1pluto]

Thank you for talking about something most people/ politics won't talk about

[@mars1pluto]

Oh maybe in future, can have this important topic in Bahasa Malaysia too 😊

[@guineapiig8089]

Really enjoyed this interview.

[@giffserado]

Good topic to begin with! It really an eye opening how the Malaysia economy retirement in crisis.

[@wankaychew7608]

Very good podcast but wish it can be longer. And for heaven sake the audio system is …….

[@Wendy-dm5ox]

Please also dive into the details of EPF low contributors where majority of them have switched to civil service or were already covered under pension fund as government servants.

[@samliew6610]

Family planning is very important. Don't just produce without braking and suffer later. That will plunge the ordinary wage earner into long term poverty.

[@calvyncraven1141]

The other problem are those that do not have enough kids. Thats the reason that leads to an aging population

[@TerenceTHNg]

A former PM once encouraged people to have 5 children when he took office. His rationale is simple. Majority wins. Politics is a numbers game.

[@albertkoay1016]

The school education system must incorporate a curriculum on financial management. It will be good to start at a suitable young age, maybe around form 1. How many after even form 6 knows something about financial matters n wellbeing. How many have been informed that they should contribute more that the statutory employee contribution %, if the person has surplus to contribute. Imagine 11% vs 21% as an example. I stress education starts young on financial management.

[@TerenceTHNg]

Precisely. Financial management should be taught to school children from form 1. Encourage the habit of savings at an early age. The problem with Malaysians is to spend first rathan setting aside 10% of their pay as saving for use in emergency like an accident, loss of jobs, sickness,etc. How many malaysians have at least 6 months savings to tide over in case of loss of employment. It looks on 5 % have enough savings to sustain until they find a new job.The idea of saving once a person starts works cannot be overlooked for various reasons.

[@TerenceTHNg]

Many employees are living from paycheck to paycheck. having a few credit cards is the norm. Its a kind of debt culture. Buy first, pay later system as encouraged by business people.

[@kkhalifah1019]

7:35 - Basically Nurhisham is admitting the looming retirement crisis is partly due to the Govt's misleadingly low inflation figures. Just last month the Govt announced a reduction in inflation to 2.5% and year-on-year the number seems to hover between around 2-3%, which is certainly NOT a reflection of the prices we see in the street by any stretch of the imagination!

[@izuanheadstompvega2152]

Wage has been stagnant for soo long..but inflation is soaring

[@GomathyNairMRNair]

Great discussion..

[@irinejessjohnson7132]

Interesting and informative talk....but En Hisham was not audible enough.😢

[@TerenceTHNg]

Informative but can be condensed. Go into the real issues and how to rectify.

[@ericminchooooi5253]

What is the rational for EPF contribution for those employees above 60yrs old reemployed is pegged at 4% employer share as against the 11% for pre retirement employees.

[@DavidLow]

Very good topic covered. Btw out of topic, maybe just me, the sound might not be well mixed specifically 'balanced'. Thank you for quality contents!

[@myretronation]

Great interview but if I may offer some feedback - audio levels are too low and not very clear at times

[@nicolajuezs]

For EPF apps, add a bar/chart as a guideline indicator for the target amount corresponding to each age. This will tell individual how far they are left behind and discourage unnecessary withdrawals for gratitude purchases. @NurhishamHussein please adapt this strategy,

[@leealex24]

Yes, people need to save and safely invest more. Did you know in the 90's, Malaysia Savings Rate was 35%, among the highest in Asia?

[@abdulramansaad2670]

Good insights & thanks to both of u.

[@JasonDing-oi3jm]

Enjoy watching your videos. Just one feedback, do get a better mic.

[@afiqariff8643]

Voice is quite slow.I think you need to place the mic higher a bit

[@jessicalim1379]

Reflect: Thanks Mr Nurhisham Hussein for sharing the topic. As one of the fellow Malaysian myself, when I see most Malaysians who are living in such RICH land and yet “poor” is ridiculous. If Malaysia is willing to adopt the *New Heaven and New Earth* projects and plans, I have a very high % of confidence that, in the near future, Malaysians will NO longer live in poverty. Indeed our ENTIRE world can be GREAT again with *New Heaven and New Earth* (neither New World Order nor Slavery System). God Is Love! 佩（贝）玲笔. 🙏🏻💕🌻🇲🇾🌎💕🌈

[@sleepywolf82]

May I ask what is the source of your confidence? What is your track record in doing governance of any kind,

[@jessicalim1379]

@@sleepywolf82 *Universal Laws* 🙏🏻💕🌻🌎💕🌈

[@alextbhmusic]

girl I want whatever you're having right now

[@jessicalim1379]

@@alextbhmusic Dear Alex, no need to admire. Once the human race is RICH in our spiritual rhyme, our ENTIRE world can be GREAT again. No one should live in poverty because our Creator(God) is RICH (not Dictatorship). Pray for New Heaven and New Earth. God Is Love! ❣️

[@GuardianWhisper]

I have hear several podcast from ur channel, despite the topic is super interesting, however the sound is horrible, it like using a auto sound capture system that sometime capture wrong source, the speaker’s speech didn’t get capture properly. I’m sorry I have to use the word horrible to describe the sound quality

[@DoMoreTakeChargeofYourLife]

Hi Guardian No other way to say it: you're right However, the audio has since been rectified in newer episodes .. Thanks for coming by though

[@shiltonspelberg2009]

Its hard. Wages are so blackballed, and to accrue enough equity to make it on yourself take so much time.

[@mhmdnazel1]

All education should be made free at least until pre-university .. And U education is subsidized for those outstanding students especially those who cannot afford it .

[@carywatmore]

Almost 30 years ago a friend of mine gave me a book called “The Richest Man in Babylon”. Basically put aside 30 % of gross income. This money is sacrosanct and it’s money that earns money.

[@smyong414]

Chuang,audio seems soft. Need to listen in a quiet place

[@zot2698]

This whole "SAVE YOUR MONEY MORE" can bite us back. the economy is dependent of spending. If people dont spend, it would just make Malaysia's economy go down. Also, as sound as it is...saving your money in the banks is now high risk especially due to high inflation - see Lebanon or other country with high inflation rate. Their life-saving basically becomes nothing - they saved up millions and now a coffee cost a few hundred thousand. its ridiculous. Its a vicious cycle, save your money and dont spend, which leads to a lower economy, which leads to a lower value for the currency, when the currency goes down...so does the value of your savings.

[@glteoh4357]

Wow! Such misconceptions on unit trust, I have almost 50% of my asset in unit trust & have no issue with it. Every investment products has it's pros & cons, understanding the products & knows how to use it to achieve our needs is important.

[@TerenceTHNg]

Putting your monies in EPF is always better than unit trust to save the unfair fees as Chuang put it. You got to pay these fees even if the fund is not growing.

[@glteoh4357]

@@TerenceTHNg That's the misconception, the fees we paid is not for guaranteed return, as unit trust is not structured to give guaranteed return. EPF guaranteed 2.5% return, yet it able to generate stable >5% for the past 50 years without any fees, it's obviously good for a person who wants stable return and have no intention of using the money until 55. EPF mostly invest in MGS & local Equities, only small portion in foreign equities, so if a person wants higher exposure to foreign market like US or China and if he wants to use the money before 55, then the choices are unit trust, ETF or individual stocks, where all these will require time to study the market & knowledge on investment and also know the products well. As it's mentioned "Don't invest into something we don't know"

[@502964924]

not just malaysians, most are in the same boat. Inflation is worrying factor

[@ezrachua1317]

The 3% thing having enough to retire is understated. EPF gets their data limited to investments in Malaysia. Assets in foreign investments wont be counted. And there is a clear trend in people going for foreign investments rather than local ones.

[@the_interim]

Next time convert the audio to mono please. Thank you.

[@puayk1592]

Is the financial statements of EPF available to the taxpayers and contributors to check?