The retirement fund (KWSP) serves to secure your financial future post-retirement. However, a Malaysian retiree depleted his entire RM700,000 KWSP fund in just 36 months due to financial illiteracy.
Malaysian retiree blaming children for depleted KWSP
Blaming family members for not supporting him financially, he now struggles to make ends meet at 70. Despite impending flexibility with Akaun 3, allowing withdrawals anytime, financial experts advise against it.
With rising living costs, RM1 million is insufficient for comfortable retirement. Imlan Adabi urges Malaysians to refrain from touching KWSP, emphasizing the unpredictability of the future. Debt-free himself, he stresses the importance of prudent financial planning.
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