A quick way to estimate how long my EPF can last?

It is very unfortunate that not many Malaysians including myself have a million in our EPF account when we retire yet we need about million if they would like to retire in the same lifestyle. Thus, many whom i speak to either continue to work (get a part time job) or forced to change their lifestyle, living within their means. Is that what we want in our retirement?
I find the following very useful when i want to quickly demonstrate to my friends that their EPF would run dry very quickly. Here is how

Assuming that i have RM300,000 in my EPF account 1 and my current monthly expenses is RM5,000, how long would my EPF last if i'm retiring with the same lifestyle? Now 300k seems to be quite a big sum right? Let see...


Annual Living Expenses = RM5,000 x 12 = RM60,000
Number of years to finish spending my EPF savings = RM300,000 / RM60,000 = 5 years
Imagine that we are 55 and finally realized that EPF savings could only last a few years, how else could we coupe? Do a part time job? Depending on our children?