seriously..........you have a joint name on property.

If you break up, lawyers will laugh to bank.

Why bother?

Yes. Since they have 2 properties, why not put 1 under guy, 1 under woman?

Free business for the lawyer and court

thanks a lot for sharing felixmask really appreciate it

Nice annual salary there. It takes quite many years ahead to reach that figure for my bird nest farming industry if price still stagnant

Taiko-taikos, any advice?

i agree of that..but WANT built a new s/w sale to insurance is not an easy job..especial big MNC.

next time send our children to do OnG...IT like cheap labor compete wit Indian and Chinese outsourcing.

Crack your head find the bug, built a miracle..vs with project manager IT..juz talk and meeting earn few time vs those ppl realy cracking the head buitl, understand, troubleshoot, scanning, design, maintenance..etc..cant compare those Project Manager..may not hand on..but talk cock with USER with miracle promise as work not done by them. Talk blow wind..is easier than built...like Indo worker

Let said your earning rm6k - 8k, profit...i believe you have deduct everything is your net income.

Mortgage Loan is rm2.2k. is long term liability you wont settle in short term except you got big project settle all your debts.

What you have rm6k - rm2.2k = rm3.8k

Is your mortage is Full Flexi/Semi Flexi mortgage ? You can pay more toward and also flexi able withdraw when you needed.
Allocate paying more to mortgage of rm1k. You able to reduce the paying term of 10 year, when you don't withdraw.
Since your income based on business, i prefer reserve more cash in flexi loan for contingency of business unexpected. You save extra interest.

Leaving you rm2.8k. after deduct/Minus Mortgage + Extra of mortgage buffer.
May think to use rm1.8k either for UT, Stock diversify your egg, rather allocated in single basket.
How to allocated depend how many investment/saving your like 50%UT - 50%Stock / 60%UT - 40% stock / 40%UT - 40%stock -20%FD.
I never treat FD as investment, but as temporarily to use when there opportunity when there is Financial Correction aka crisis.
About investment maybe variable to each individual either UT or stock have high risk/opportunity growth or low risk/stable income.
If want exact to invest, then you need to study each investment which have cons and pro that meet your personality or profile.


Leaving your rm1k..for you to spend with i believe is sufficient. Without gadget, gf, beer time..you can save much more.

Hope you don't mind deduct the saving/ asset/liability first leaving you the amount is your real expenses/surviving for own self.

It juz suggestion of different ppl, may not the same with other or agree by own self.

By the way, even i older few year..my asset & income not as more of you.
Becoz i juz a slave worker..never take a big hat to wear...becoz my head very small to think.

This post has been edited by felixmask: Sep 13 2013, 05:17 PM

Which is why most people will say that EQ is far more important than IQ in any field, IT included.

Also you need to be clever if you're in IT (or O&G or pretty much anything), make sure you have complementary skills across the board. Development + project management could be a killer combination. If you have kids the best possible thing you can do is probably to send them to negotiation, critical thinking and/or drama/public speaking classes. That's what I am doing with mine.

Anyway, back to the original question of net worth

if u are disciplined, put in a consistent amount of $$ monthly into a UT, medium-risk fund.

or else, buy Reits (google it) every month, and get consistent dividend every year.

by the way, good job hving your own business at 26 and 2 properties too.

Update as of 15 Aug 2013

Age: 30

Car: 13.5k (real value 22k appraised by dealer)
Cash: EUR 6k + ~RM10k
Stocks/funds/bonds/options/money market: EUR 75k + RM 52k

Liabilities:
Loan: EUR 8.5k

Net: EUR 86k + ~RM60k

Just married (sorry ladies) and started looking into real estate. My goal is to reach EUR 100k by year end (realistic but tough).

Your occupation is as a paralegal. Are you studying to be a full lawyer?
When you are a full lawyer, I think your income should grow.

Not all girls are materialistic - lah.

Yeap!

It will grow but the house price and cost like grow faster than my salary.

Wondering why so high pay cheque those working in KL. age 26 already 4k to 5k.

Joking la about the girl thing. my sister is not materialistic.

Age: 33
Occupation: Own Business
Marital Status: Married with2 kids aged 4 and 2
Gross annual income: +-200k

Asset(s):

Properties
1.Own home, market value 1.0m (paid off)
2. House no 2, market valiue 1.0m (380k outstanding)
3. House no 3, market value 600k (150k outstanding)
4. Condo 1, market value 522k, (400k outstanding)
5. Condo 2, market value 760k, (600k outstanding)
6. Condo 3, market value 730k (600k outstanding)
7. Condo 4, market value 580k (370k outstanding)
8. Condo 5, market value 550k (400k outstanding)
8. Shotlot, market value 1.0m (j.v with contractor on my own land so considered paid off) rented for RM3300


EPF 80k have not been contributing for along time already.

Cash in hand 500k

Other misc investments like stocks, funds and so on about +-150k

Liabilities
Wifes car, 150k

Insurance:
Life: RM1.4mil

Ah and yes. my company which I own..... someone offered to buy it from me earlier this year, i asked for 7 mil but they backed down due to insufficient funds but the business and its assets alone are worth atleast 4.5 mil, the premium added because it is a long term and profitable business.


so dear sifus... i also dont know my net worth.

This post has been edited by gooberhock: Sep 13 2013, 11:52 PM

Wah! 3 years older than me. far richer than me.

Own business sure good.

actually its far easier to grow your wealth if u do ur own business. simply because banks are willing to lend to you if your company has a high cash turnover. my company turned over 22mil last yr. and i my relationship manager tells me that the bank will be willing to lend me(me as in individual ah... not my company) upwards of 12mil just from my bank statements alone. ... but do remember. high turn over does not mean high profits. just high liquidity.
started my business 4 yrs ago with help from family.... cash about 400k and borrowed the rest. about 1.6mil. still owe the bank 500k. once that is paid off. my net worth will increase tremendously as i am currently paying about 35k a month just for my business loans and could barely afford the minimum repayment of 15k in the first year of business.
but... let me tell you. i sacrificed 2 years exactly of my life at work, 24,7. I slept in my office and only saw wife n kids once a month as i sent them back to stay with my in laws to that i could focus..... 4 yrs on. i spend less than 2 hours a day in the office.

This post has been edited by gooberhock: Sep 14 2013, 12:05 AM

Age 25 single, sales role with net home pay 12k - 15k per month (before tax).

Asset:
2nd hand car buatan malaysia fully paid = 20k
FD = 60k
Cash < 4k

Liability:
Condo 360k with outstanding 300k
PTPTN 40k

What am I missing in managing my money? Put more FD? Buy 1 house for investment?

actually your situation wasn't that bad. 35k cash in bank is good.

Gross income +- 200K but managed to own so many property. That's impressive. No problem financing from bank at all? Afterall your gross income is only around 200K.