Spending EPF Money: Dos and Don'ts In Retirement
A viral story claims a retiree allegedly blew through RM700,000 in EPF savings in just 21 days. True or false, it highlights a terrifying reality: decades of disciplined accumulation can vanish very quickly without a decumulation plan.
Stephen Yong, Licensed Financial Planner and Executive Director of Wealth Vantage Advisory, joins BFM’s Ringgit and Sense to discuss the best practices and mindsets to adopt when you finally get access to your EPF money.
He explains how sudden access to large lump-sum retirement balances can trigger a "windfall" mindset, leading to rapid capital depletion, as…
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