should i cash out my jamsostek balance?
By siZidni
@siZidni (1860)
Indonesia
April 13, 2009 11:44pm CST
hi guys.
last year i was terminated from my company.
and now some friends suggest me to cash out and close my last jamsostek account. in my new company i get new membership account of jamsostek again.
well. i thought my jamsostek account should be for my retirement in the future.if i withdraw now. i am afraid of spending it.
what do you think guys?
1 person likes this
2 responses
@dragon54u (31633)
• United States
14 Apr 09
I'm not familiar with jamsostek but if it is meant for retirement you should keep it there and not touch it. Or you can add it to your new account. Just pretend like that money is not there. You'll be glad you did when you retire! You are young enough that if you keep those accounts and don't touch them you could have millions by the time you are ready to retire!
Or think of it this way. Every hundred dollars you take out of the account will be a thousand dollars by the time you retire. Do you really want to pay a thousand dollars for a 100 dollar item? That's what you'll be doing if you spend that money!
2 people like this
@siZidni (1860)
• Indonesia
14 Apr 09
yes you are right. jamsostek stands for jaminan sosial tenaga kerja which means employee social insurance. it directly deduct my salary everymonth and company pay it to the provider (jamsostek). the problem is i never know the performance of my money. some says that i should withdraw it and put it to mutual fund that has good performance.
2 people like this
@dragon54u (31633)
• United States
14 Apr 09
That might be a good idea, too, because mutual funds are diverse and spread across many financial interests. If you lose in one place, you gain in another and they usually perform very well.
I think that is a good plan. As long as you reinvest it and don't spend it on something stupid like a flat screen tv, you'll be fine. 
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@siZidni (1860)
• Indonesia
14 Apr 09
what do you suggest me the most? forward or withdraw my money?
do you have any investment instrument to my money if i withdraw?
i think i don't want to forward it to new account. i prefer let it stay in old account so i can withdraw anytime i want.
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