Comments on: Would you contribute less to EPF? http://www.mypennysense.com/would-you-contribute-less-to-epf It's all about the penny and cents Fri, 12 Mar 2010 16:06:29 -0700 http://wordpress.org/?v=2.8.5 hourly 1 By: Penny http://www.mypennysense.com/would-you-contribute-less-to-epf/comment-page-1/#comment-78 Penny Fri, 07 Nov 2008 02:06:17 +0000 http://www.mypennysense.com/?p=154#comment-78 Freethinker, in that case, do remember to inform your employer that you're not for it because it has just been confirmed that the reduction will happen automatically. Fat4, yupe, it's only human to spend what we deem as extra income. It takes a lot of discipline not to be tempted. Alvin, good point there about how we're boosting foreign economies through our purchases of branded goods. Didn't occur to me, perhaps didn't occur to the government too! Freethinker, in that case, do remember to inform your employer that you’re not for it because it has just been confirmed that the reduction will happen automatically.

Fat4, yupe, it’s only human to spend what we deem as extra income. It takes a lot of discipline not to be tempted.

Alvin, good point there about how we’re boosting foreign economies through our purchases of branded goods. Didn’t occur to me, perhaps didn’t occur to the government too!

]]> By: Alvin Lim http://www.mypennysense.com/would-you-contribute-less-to-epf/comment-page-1/#comment-77 Alvin Lim Thu, 06 Nov 2008 09:35:38 +0000 http://www.mypennysense.com/?p=154#comment-77 This is actually a good move in my opinion. It's not too big a figure, and not too small. And why do I think it's a good move? Because it gives you the flexibility to use your money. If you put it in EPF, you can't take it. But if you have the cash with you, you can easily take it, and invest it somewhere. And I really think it's a good thing to have. But that's coming from an investor's point of view. The problem here is that most Malaysians spend money like water. They don't really think much when it comes to spending even though the economy situation is obviously in a bad shape (unless they don't read news and don't talk to people, else they should know). This WILL indeed boost consumer spending, but there's no point if at the end of the day, they keep spending and end up have no money to pay the debts. Furthermore, they spend more on branded stuff - funding other countries and not our own. So it really depends on which perspective you're looking at. If you're an investor and someone who handles money well, this new ruling allows you to have more cash to invest or control. But if you're not and if you're someone who needs others' help in investment, then maybe it's best not to switch to the new ruling. This is actually a good move in my opinion. It’s not too big a figure, and not too small. And why do I think it’s a good move? Because it gives you the flexibility to use your money. If you put it in EPF, you can’t take it. But if you have the cash with you, you can easily take it, and invest it somewhere.

And I really think it’s a good thing to have.

But that’s coming from an investor’s point of view. The problem here is that most Malaysians spend money like water. They don’t really think much when it comes to spending even though the economy situation is obviously in a bad shape (unless they don’t read news and don’t talk to people, else they should know). This WILL indeed boost consumer spending, but there’s no point if at the end of the day, they keep spending and end up have no money to pay the debts.

Furthermore, they spend more on branded stuff – funding other countries and not our own.

So it really depends on which perspective you’re looking at. If you’re an investor and someone who handles money well, this new ruling allows you to have more cash to invest or control. But if you’re not and if you’re someone who needs others’ help in investment, then maybe it’s best not to switch to the new ruling.

]]> By: Fat4 http://www.mypennysense.com/would-you-contribute-less-to-epf/comment-page-1/#comment-76 Fat4 Thu, 06 Nov 2008 08:16:01 +0000 http://www.mypennysense.com/?p=154#comment-76 It is a proven method to spur spending. Unfortunately the sad reality of today's economy is that every disposable sen at consumer's hand is spent and not saved. So the boost to the economy will be there is everyone chooses to contribute only 8% and may not be as marginal as it seems. It is a proven method to spur spending. Unfortunately the sad reality of today’s economy is that every disposable sen at consumer’s hand is spent and not saved. So the boost to the economy will be there is everyone chooses to contribute only 8% and may not be as marginal as it seems.

]]> By: Freethinker http://www.mypennysense.com/would-you-contribute-less-to-epf/comment-page-1/#comment-75 Freethinker Thu, 06 Nov 2008 02:14:31 +0000 http://www.mypennysense.com/?p=154#comment-75 I am not for it, as i think the sum is too lil to make any difference to the economy and secondly, it's even more riskier to invest than now... The worst scenario would be losing pension benefits and losing the investment at the same time I am not for it, as i think the sum is too lil to make any difference to the economy and secondly, it’s even more riskier to invest than now…

The worst scenario would be losing pension benefits and losing the investment at the same time

]]>