Retirement savings are meant to last for years, but one Malaysian allegedly spent RM700,000 in just three weeks.
The story was shared by a netizen on Threads, who described it as a valuable lesson about managing retirement funds wisely.
Received RM700,000 at 55yo
According to him, the individual received RM700,000 in Employees Provident Fund (EPF) savings at the age of 55.
However, the entire sum was allegedly gone within 21 days.
He claimed that the money was used to renovate a house, purchase a car with cash and pay for the individual’s child’s wedding reception. The exact amount spent on each item was not disclosed.
Now works as a security guard
After exhausting the savings, the individual allegedly returned to work as a security guard at a supermarket to cover daily living expenses.
Badruldin described it as the fastest case of someone exhausting their EPF savings that he had ever heard of.
His post has since gained more than 87,000 views and sparked discussions about retirement planning.
Netizens question how RM700,000 disappeared
Some commenters found it difficult to believe that such a large amount could be spent within 21 days.
One person estimated that renovating the house, purchasing a luxury car and holding the wedding could have cost around RM500,000, leaving questions about where the remaining money went.
Others said the story highlighted the importance of budgeting carefully, as retirement savings may need to support a person for many years.
