You'll get there. I hit the EPF mark and the compounding will take it even further faster.

People here are just too negative. Malaysian's complain about Malaysia, yearning for Singapore. Singaporeans complain about Singapore, yearning for Australia. And so on so forth.

This. SGD and USD is probably the best option, as USD is still the anchor of the world currency, so its accepted easily and SGD's monetary approach means its value would be less volatile.

Everyone's on their own journey, so don't compare la. You are doing great so keep it up.

My 2 cents on this:

1) You have too much in gold. It's a good hedge against stock market but given your horizon is long, there really isn't a need to have such a big allocation in your portfolio.



2) Focus on increasing your income. That's really one of the easiest and fastest way to improve financial wellbeing of a person, and one that is very much ignored by most.

3) For the loan, what are the interest rate on those?

Given the rates, ptptn is one of the best and lowest loan around.

So settle that last, pay what you need and leave it be. Focus instead on closing the house loan first, then car then only the education.

I am under the impression that his car loan is fixed, so you pay more every month also chances are whatever you committed to pay, you have to pay. For houses, still can reduce if its a flexi so can reduce in terms on interest paid.

That's why ask him to focus on house, then car and finally education.

There's a lot of things that I feel people are penny-wise, pound foolish. A car is one of them. Is it a liability, financial wise? Yes.

But given the average person would spend 1-2hrs a day travelling on car, which is around one month of the year in total just sitting in a car, in a jam, driving mindlessly to work, to travel, etc.. So, why wouldn't you want to be comfortable and happy with that otherwise miserable experience?

What I do agree on, is there is a diminishing return on money spent on cars. Safety wise, some of our local cars are almost on par with the conti's, we can also look to ANCAP rating as a guide on what they have and don't. The rest are more towards comfort level, noise level etc but I genuinely doubt a BMW is 3x better than say X70, even though thats the price diffentiation.

Secondly, 60% of road fatalities are motorcyclist, so I'd always say even a Kancil is better than a 2 wheeler to increase your survival chances in accident. Another two big contributors to accidents are drunk driving and that only 48 per cent of Malaysians were recorded to have worn their seatbelts. All these are totally preventable and it doesn't matter what car one drives.

Another thing is mattress / pillows. We spend 6-8hours daily sleeping, but don't want to spend money on a good mattress, rather change the cheapo one every year or two when it kemek and your backpain. A good mattress last you 15-20 years, and prevent you from body aches or bad sleep. Penny wise, pound foolish.

Last one is having comfort in spending on enriching experiences. Keep all the money to retire and do what if your body and mind can't enable you to experience things you should have done when you are younger like trying out new food, new places, meet new people, play new sport, etc etc

This is just how much you need to be considered in the top 1% of the country. For Malaysia, roughly RM2.2mil in net wealth you would be considered in top 1%.

https://malaysia.news.yahoo.com/malaysia-ju...-102955555.html

If you are saying just by sheer number of people, of course we might have more rich people vs Singapore due to our population differences.

But top 1% is very different when you start to break down within it.

Wait until you hear about the new definition of rich.

https://www.ft.com/content/b677d2f1-fe7d-47...ec-b23424331d10



You don't have USD100mil you don't even exist in their eyes

As long as you enjoy the new piece bro

Lock down that Cubitus

Better than zero. Keep it up bro.

Just keep grinding, nothing now means you get to try everything.

I'm just a ta kong zhai that got lucky to make a decent salary.

So I'm not qualified to give business advice compared to other sifus here.

Also Eason Chan song "陀飛輪".

Both really helped to change my perception.

That's why those that want admiration for saving 80% of their money or whatever is laughable. Just go live a little.

I've seen millionaires refusing to change their old Saga because it's cheap, discounting the fact that new cars have much much better safety features which will offset whatever you think you are saving by not buying it.

This post has been edited by fuzzy: Nov 14 2024, 04:16 PM

Malaysia average life expectancy is 75yo bro.

If you are 37yo, you officially can suffer from midlife crisis d haha.

If you hoard money until 60, you only realistically have 10 years to spend majority of it as last 5 years your body won't be as cooperative.

So there's a line between frivolous daily spending and excessive saving until one is miserable day to day for the hope of a better retirement.

Got chance to live longer depending on state and gender lol.

The EPF math works out. Reality of course depends.

I didn't have anyone to pay my education or my car or my house.

If you withdraw EPF for house, how much is the house worth? Networth takes into account that. Most people don't have RM1mil lying around in a bank, they have it as part of assets.

If you started with a salary of RM3,000 and receive zero increment and zero bonus for the rest of your career, you will have RM1mil in EPF. Provided if nothing is being withdrawn.

While I will agree not everyone will have a 3k salary blah blah blah, but if you retire at 60 or 65, and you can't get a single cent of increment, there isn't anyone to blame.

Exactly, life is not theory so you run your race la bro. Don't measure against others, else you will never find the happiness line.

I think the members here all preach the same. As long as you met your goals in life, it's worth celebrating.