given your current status, you can definitely FIRE.
so may i ask what is motivating you to continue working?
I take it that life at the bank is tolerable hence your continuity to work?

I think the finance sector is still one of the better paying economic sector. Epf employer contribution also tend to be higher (like 15-16%). But it can be back breaking work esp at middle management nowadays.

I plan to work until 55 and then call it quits. Contemplated of doing it earlier, but so far can still tahan. Personal financial target is to get the financial assets number above RM5m.

N yeah, Im sandwich generation, funding my own child and ailing parents who have little in way of retirement funds. A lot of compromises. One of the thing which drive me to accumulate is so that i dont financially burden my son and society in general in my twilight years.
Not really senior management.  Thats division head level. Im at dpt head level, of a small dpt. I guess Im like a branch manager level if Im in consumer banking.

Im a bit thrifty tho, just B class car n no designer watches etc. But since the kid is sorted out n retirement funds is on track, my life style is more yolo (single guy maa 😆).

Not having a spouse also helps, that's a real money pit :grin:

Bro..i can tell you that having a spouse n later getting a divorce is quite bad for net worth.

Nearly end of 2023, let me add to this topic for posterity.

Age: 50
Occupation: Work at a Bank
Marital status: Single n available 😎 (Divorced with 1 kid)

Financial.Assets (MYR value)
Emergency Fund (ASB n Flexi) = 220k
DIY portfolio (stocks, bonds, etf, funds) = 1.3M
KWSP = 2.4M
PRS = 60k

Real Estate (est market value)
House 1 = 950k (own stay)
House 2 = 800k (parent stay, no rent)
Land = 300k

Liabilities
Housing loans = 380k
No other loans
Son already at uni n his funding separately provided for

Bravo. From his inspiring numbers, can you share with us, how did you reach to this level?


Would you say the industry you are in allow you to get this portfolio?  Or was it the right investment that led you to today's number?

That's a commendable portfolio bro, and well done to achieve these at 50
You must be at senior management level in banking at the very least.

I think the finance sector is still one of the better paying economic sector. Epf employer contribution also tend to be higher (like 15-16%). But it can be back breaking work esp at middle management nowadays.

I plan to work until 55 and then call it quits. Contemplated of doing it earlier, but so far can still tahan. Personal financial target is to get the financial assets number above RM5m.

N yeah, Im sandwich generation, funding my own child and ailing parents who have little in way of retirement funds. A lot of compromises. One of the thing which drive me to accumulate is so that i dont financially burden my son and society in general in my twilight years.
Not really senior management.  Thats division head level. Im at dpt head level, of a small dpt. I guess Im like a branch manager level if Im in consumer banking.

Im a bit thrifty tho, just B class car n no designer watches etc. But since the kid is sorted out n retirement funds is on track, my life style is more yolo (single guy maa 😆).

50% gone just like that...

I think the finance sector is still one of the better paying economic sector. Epf employer contribution also tend to be higher (like 15-16%). But it can be back breaking work esp at middle management nowadays.

I plan to work until 55 and then call it quits. Contemplated of doing it earlier, but so far can still tahan. Personal financial target is to get the financial assets number above RM5m.

N yeah, Im sandwich generation, funding my own child and ailing parents who have little in way of retirement funds. A lot of compromises. One of the thing which drive me to accumulate is so that i dont financially burden my son and society in general in my twilight years.
Not really senior management.  Thats division head level. Im at dpt head level, of a small dpt. I guess Im like a branch manager level if Im in consumer banking.

Im a bit thrifty tho, just B class car n no designer watches etc. But since the kid is sorted out n retirement funds is on track, my life style is more yolo (single guy maa 😆).

Much respect bro, same age so I feel ya.

no same lah you.

Much respect bro, same age so I feel ya.

Tks Doc

But you are VHNWI. I only "mass affluent". You are like Mount Kinabalu to me Bukit Timah.

Well, I have had an excellent year in terms of adding to my SGD net worth in bonds & savings... best year on record, really:

[attachmentid=11486988]

But it only goes to show that I am a saver and a hoarder and I value the money I earn/make enough not to waste it.

Tks Doc

But you are VHNWI. I only "mass affluent". You are like Mount Kinabalu to me Bukit Timah.

anyone asked .... share with us, how did you reach to this level?
the industry you are in allow you to get this ....?
the man on silver mountain
too busy collecting  silver....

We have no children by choice, so we don’t bleed from that point of view.

Bleed is the right word 

Bro, I find this issue of children very emotive and potentially extremely divisive. We made that decision because neither of us felt, given our nature and dedication to our respective professions, it was fair to our future hypothetical children that we would be at best part time parents and at worst, absent ones with the kids speaking better Tagalog and Bahasa Indonesia than English or Mandarin/Cantonese.

It’s not that we don’t love children but we didn’t want kids that we couldn’t be the best version of parents that they deserved.

Different people will obviously have different opinions but we don’t miss what we never had.

It's always gonna be emotionally driven la.

I love mine to death and dotes on her, some use it to buy rolex, some use it to make their child happy. No wrong no right, just putting money to good use.

At the end of the day, what else do we work so hard to accumulate wealth for if it's not to be spent on things we love, right?

All bros here seem doing well. I felt being so useless after reading all bros background
While me.
Age: 43
Occupation: insurance agent
Marital Status: married with 2 kids
Asset(s):

House 1 (2 stories semi D)-
No Outstanding. Own stay
House 2 (new condo, just 5 years old only)-
No Outstanding. Holiday home
House 3 (2 stories terrance)-
No Outstanding. Convert to become own office, other half rented out
House 4 (1 stories terrance)-
No Outstanding. Rented out
House 5 (1 stories terrance)-
No Outstanding. Rented out
Car (Japanese car)-
Market Value: RM 20k no Outstanding Loan
Car (Japanese car)-
Market Value: RM 70k no Outstanding Loan

Liability (ies):
Study loan. Tak ada

Insurance:
Life: RM3600 /year

Investment:
FD: RM1m
Gold Bar: undisclosed amount of physical and digital
EPF: 360k

Cash in hand now
RM700.00

am i doing ok?