Malaysians typically contribute a portion of their monthly income to the Employees Provident Fund (EPF) as a means of saving for retirement. However, not everyone possesses strong financial management skills, as exemplified by an individual who squandered their entire EPF savings.

A Malaysian man depleted his RM700,000 EPF savings in just three years, as highlighted in a Facebook post by Imlan Adabi.

Instead of taking responsibility for his financial decisions, the man blamed his family for not providing him with a monthly allowance. Now 70 years old, he is forced to work to repay credit card debt and a house loan, rather than enjoying retirement.

Imlan advised Malaysians to be cautious with their spending habits, emphasizing the importance of saving money. He encouraged gratitude for any financial support from children or grandchildren, but advocated for self-sufficiency in retirement planning. Additionally, he warned against prematurely withdrawing funds from Account 3, emphasizing the uncertainty of future financial needs.